Sr. Manager, Model Risk Management

As Sr. Manager, Model Risk Management at Kraken (Payward), you will oversee the validation, compliance, and ongoing monitoring of Transaction Monitoring, Customer Risk Assessment, and Screening models used for Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) purposes. You join a team at one of the world's longest-standing crypto platforms, trusted by over 10 million individuals and institutions globally, and ensure that these critical models remain robust, effective, and compliant with evolving regulatory requirements.

What you'll do

• Perform independent validation of Transaction Monitoring, Customer Risk Assessment, and Screening models, including AI models built in Claude or ChatGPT, by reviewing pre- and post-development documentation, data quality, accuracy, access, and testing methodologies.
• Assess model performance, accuracy, stability, and risk, while identifying potential biases in model design and outputs.
• Ensure that Transaction Monitoring and Customer Risk Assessment models comply with relevant AML/CFT regulations including EU AML/CFT Directives, US BSA/AML regulations, and FATF recommendations.
• Conduct risk assessments to identify potential AML/CFT risks, including higher-risk customer segments, products, and geographies, and assess the effectiveness of existing controls and mitigants.
• Develop and implement procedures for ongoing model monitoring and maintenance, including annual reporting and certification, performance tracking, and regular model reviews and updates.
• Collaborate with model engineering teams, AML/CFT subject matter experts, business units, and risk management teams to align on model governance and performance.
• Prepare and maintain high-quality documentation including model validation reports, risk assessments, and regulatory compliance reports.
• Contribute to the development and maintenance of model validation methodologies, refining frameworks and identifying industry best practices.

What you bring

• A Bachelor's degree in a quantitative field such as mathematics, statistics, computer science, or engineering.
• 5+ years of experience in model validation, risk management, or a related field, preferably in AML/CFT.
• Understanding of international Model Risk Management rules and regulations, such as OCC SR 11-7.
• Strong understanding of machine learning and statistical modeling techniques.
• Deep understanding of fiat and crypto payment flows.
• Proficiency in programming languages such as Python, R, or SQL.
• Experience with data visualization tools such as Tableau or Power BI.
• Strong understanding of financial markets, products, and services.
• Excellent written and verbal communication skills, with the ability to articulate complex technical concepts to non-technical stakeholders.

Nice to have

• Professional certifications such as FRM, CDA, or CAP.
• Experience with AML/CFT transaction monitoring and Customer Risk Assessment systems.
• Knowledge of cloud-based technologies.
• Experience with agile development methodologies.

About Kraken (Payward)

Payward is the parent company behind Kraken, NinjaTrader, Breakout, xStocks, Payward Services, and CF Benchmarks. Founded in 2011, Kraken is one of the world's longest-standing crypto platforms, offering spot trading, margin, futures, staking, and OTC services to over 10 million individuals and institutions globally.