Synchrony
VP, Compliance Model Governance & Supplier Management
Synchrony, Chicago, Illinois, United States, 60290
VP, Compliance Model Governance & Supplier Management
The VP, Compliance Model Governance and Supplier will serve as the business and technical owner of Synchrony’s BSA/AML transaction monitoring and watchlist screening models, critical for combating financial crime and ensuring regulatory compliance. The successful candidate will be responsible for managing key aspects of the model governance process, including development, vendor management, monitoring, validation, implementation and regulatory responses. You will lead strategic initiatives to enhance the robustness, effectiveness, and accuracy of these models through rigorous oversight, collaboration with Model Risk Management, Compliance, Data Management, and external third‑party vendors. This position is accountable for maintaining the highest standards in model performance, regulatory adherence, and supplier management, and will play a pivotal role influencing senior leadership decisions and regulatory examinations.
Essential Responsibilities
Lead the full lifecycle governance of AML transaction monitoring and watchlist screening models, including model selection, development, validation, implementation, ongoing monitoring, tuning, and retirement.
Lead model projects working closely with vendors and cross‑functionally.
Work on data collection, data cleansing, methodology evaluation, model assessment, model development, testing and validation.
Maintain comprehensive model documentation needed to meet regulatory requirements.
Lead the model monitoring process, including root‑cause analysis of any material shifts in model performance and maintain model change logs.
Manage audit and validation requests, and develop remediation plans for timely resolution of any issues uncovered.
Act as the senior escalation point for model‑related risks, regulatory inquiries, and audit findings.
Leadership & Stakeholder Engagement
Direct and mentor AML model analysts, fostering cross‑functional collaboration and knowledge sharing.
Build trusted advisor relationships with Legal, Data Management, Operations, Technology and third‑party vendors to drive continuous improvement.
Present regular model performance and risk reports to senior leadership, regulatory bodies, and risk committees.
Model Performance & Continuous Improvement
Champion ongoing model performance monitoring and tuning initiatives to proactively identify model degradation, false positives/negatives, and emerging risks.
Lead efforts to innovate and enhance existing models leveraging advanced analytics, AI/ML techniques, and new data sources.
Third‑Party & Vendor Management
Own the end‑to‑end management of third‑party model providers, including rigorous onboarding, due diligence, performance monitoring, and contract compliance.
Lead vendor risk assessments, audits, and remediation activities to safeguard the integrity and reliability of outsourced models.
Collaborate with Sourcing and Legal to negotiate service level agreements and model performance expectations with external partners.
Regulatory & Audit Readiness
Maintain comprehensive, audit‑ready documentation of model governance activities, validations, tuning, and issue remediation.
Proactively engage with examiners and internal auditors, ensuring Synchrony’s AML models meet or exceed regulatory expectations.
Lead response efforts to regulatory inquiries, internal findings, and industry developments related to AML/OFAC compliance modeling.
Qualifications
Bachelor’s degree required; advanced degree (MBA, MS in Data Science, Finance, or related field) strongly preferred. In lieu of a degree, 11+ years of experience in AML/BSA compliance, model risk management, financial crime, or related regulatory roles within financial services.
8+ years of experience in AML/BSA compliance, model risk management, financial crime, or related regulatory roles within financial services.
2+ years of management experience.
6+ years’ hands‑on programming skills with proven experience utilizing Python, SAS, SQL, AWS, Data Lake to perform statistical analysis and manage complex or large amounts of data.
Ability and flexibility to travel for business as required.
Desired Characteristics
Deep expertise in transaction monitoring and watchlist screening models, including practical knowledge of model development, validation, and tuning.
Proven leadership capabilities managing teams and cross‑departmental initiatives in a fast‑paced environment.
Strong understanding of regulatory frameworks (BSA, AML, OFAC, FinCEN) and experience interfacing with regulators and auditors.
Excellent analytical skills and ability to translate complex model risks to senior leadership and non‑technical stakeholders clearly.
Experience managing third‑party vendors in a regulated environment, including contract negotiation and vendor risk management.
Proficiency with GRC platforms, data analytics tools, and model risk management software preferred.
Compensation USD 155,000.00 – 260,000.00 per year + annual bonus based on individual and company performance. Salaries are adjusted according to market in CA, NY Metro and Seattle.
Eligibility Requirements
Must be 18 years or older.
Must have a high school diploma or equivalent.
Must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process.
Must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future.
Equal Opportunity Employer All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
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Essential Responsibilities
Lead the full lifecycle governance of AML transaction monitoring and watchlist screening models, including model selection, development, validation, implementation, ongoing monitoring, tuning, and retirement.
Lead model projects working closely with vendors and cross‑functionally.
Work on data collection, data cleansing, methodology evaluation, model assessment, model development, testing and validation.
Maintain comprehensive model documentation needed to meet regulatory requirements.
Lead the model monitoring process, including root‑cause analysis of any material shifts in model performance and maintain model change logs.
Manage audit and validation requests, and develop remediation plans for timely resolution of any issues uncovered.
Act as the senior escalation point for model‑related risks, regulatory inquiries, and audit findings.
Leadership & Stakeholder Engagement
Direct and mentor AML model analysts, fostering cross‑functional collaboration and knowledge sharing.
Build trusted advisor relationships with Legal, Data Management, Operations, Technology and third‑party vendors to drive continuous improvement.
Present regular model performance and risk reports to senior leadership, regulatory bodies, and risk committees.
Model Performance & Continuous Improvement
Champion ongoing model performance monitoring and tuning initiatives to proactively identify model degradation, false positives/negatives, and emerging risks.
Lead efforts to innovate and enhance existing models leveraging advanced analytics, AI/ML techniques, and new data sources.
Third‑Party & Vendor Management
Own the end‑to‑end management of third‑party model providers, including rigorous onboarding, due diligence, performance monitoring, and contract compliance.
Lead vendor risk assessments, audits, and remediation activities to safeguard the integrity and reliability of outsourced models.
Collaborate with Sourcing and Legal to negotiate service level agreements and model performance expectations with external partners.
Regulatory & Audit Readiness
Maintain comprehensive, audit‑ready documentation of model governance activities, validations, tuning, and issue remediation.
Proactively engage with examiners and internal auditors, ensuring Synchrony’s AML models meet or exceed regulatory expectations.
Lead response efforts to regulatory inquiries, internal findings, and industry developments related to AML/OFAC compliance modeling.
Qualifications
Bachelor’s degree required; advanced degree (MBA, MS in Data Science, Finance, or related field) strongly preferred. In lieu of a degree, 11+ years of experience in AML/BSA compliance, model risk management, financial crime, or related regulatory roles within financial services.
8+ years of experience in AML/BSA compliance, model risk management, financial crime, or related regulatory roles within financial services.
2+ years of management experience.
6+ years’ hands‑on programming skills with proven experience utilizing Python, SAS, SQL, AWS, Data Lake to perform statistical analysis and manage complex or large amounts of data.
Ability and flexibility to travel for business as required.
Desired Characteristics
Deep expertise in transaction monitoring and watchlist screening models, including practical knowledge of model development, validation, and tuning.
Proven leadership capabilities managing teams and cross‑departmental initiatives in a fast‑paced environment.
Strong understanding of regulatory frameworks (BSA, AML, OFAC, FinCEN) and experience interfacing with regulators and auditors.
Excellent analytical skills and ability to translate complex model risks to senior leadership and non‑technical stakeholders clearly.
Experience managing third‑party vendors in a regulated environment, including contract negotiation and vendor risk management.
Proficiency with GRC platforms, data analytics tools, and model risk management software preferred.
Compensation USD 155,000.00 – 260,000.00 per year + annual bonus based on individual and company performance. Salaries are adjusted according to market in CA, NY Metro and Seattle.
Eligibility Requirements
Must be 18 years or older.
Must have a high school diploma or equivalent.
Must be willing to take a drug test, submit to a background investigation and submit fingerprints as part of the onboarding process.
Must be able to satisfy the requirements of Section 19 of the Federal Deposit Insurance Act.
Legal authorization to work in the U.S. is required. We will not sponsor individuals for employment visas, now or in the future.
Equal Opportunity Employer All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.
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