Capital One is expanding its Anti-Money Laundering (AML) Modeling and Advanced Data Insights team, seeking to bolster its defenses against illicit financial activity through the use of advanced analytic techniques, including machine learning. The company is currently advertising open positions in Chicago, Illinois; Richmond, Virginia; and McLean, Virginia, for Senior Business Analysts specializing in AML modeling.
According to a job posting, the team is focused on modernizing Capital One’s approach to identifying money laundering, terrorist financing, and human trafficking. The function involves developing data sourcing, predictive models, and monitoring systems utilizing tools like AWS, Snowflake, Python, and Spark. The team is responsible for the complete lifecycle of these models, from development and deployment to ongoing monitoring.
The Senior Business Analyst role requires a Bachelor’s degree in a quantitative field – such as business, mathematics, economics, finance, statistics, science, or engineering – and at least one year of analytical experience. Preferred qualifications include a Master’s degree in a related field, experience in statistical model building, and proficiency in SQL, Python, or AWS. Experience in AML, sanctions, compliance, risk, fraud, or other regulated spaces is also highly valued.
Capital One is offering a salary range of $101,100 to $115,400 for the Senior Business Analyst position in Chicago and Richmond, and $111,200 to $126,900 in McLean, Virginia. The role is also eligible for performance-based incentive compensation, including cash bonuses and long-term incentives. The company states it will consider sponsoring employment authorization for qualified applicants.
The expansion of Capital One’s AML team comes as financial institutions face increasing pressure to combat money laundering. A 2021 report by Capital One’s technology division highlighted that U.S. Financial institutions filed 2.5 million Suspicious Activity Reports in 2020, a number that has been consistently rising. The report emphasized the need for machine learning to adapt to evolving criminal behaviors and improve the effectiveness of AML efforts.
The role will involve analyzing business challenges, developing strategic recommendations, and supporting product and pricing strategies. Analysts will also contribute to direct-to-consumer marketing efforts and the development of new customer experiences. Collaboration with IT, sales, operations, and finance teams will be essential.
