Protiviti Contact

Protiviti Contact

Avinash Voruganti

Associate Director

Professional Experience

Avinash is an Associate Director in the Risk and Compliance Practice, where he has conducted and led validation and audit projects for multiple clients within the financial services industry. He currently focuses on (a) conducting model validation for Anti-Money Laundering models and systems, primarily transaction monitoring and sanctions monitoring systems, and (b) auditing the AML Compliance programs. He has a Master’s degree in Transportation Engineering from the University of Texas at Austin, with multiple publications in reputed journals.

Major Projects

  • Led AML audits at multiple Global financial institutions, reviewing the firm’s financial crimes program compliance against local Regulatory requirements (MAS). The firms reviewed include asset management, retail and corporate banking, private banking and capital markets.
  • Performed quantitative analysis to validate sanctions monitoring systems for a Top 25 US Bank. Analysis performed included name masking, sensitivity analysis, and scenario testing. Systems reviewed included customer onboarding systems, ongoing monitoring systems, and transaction-based sanctions monitoring.
  • Validated the AML/BSA models for multiple top 50 US Financial Institutions, with specific focus on assessing the scenario coverage in compliance with FFIEC BSA/AML manual and threshold tuning methodology in conjunction with the risk assessment of the Financial Institute. Experience validating multiple systems including Actimize, Norkom, Mantas and FCRM.
  • Performed quantitative analysis to validate transaction monitoring thresholds for a Top 25 US Bank’s retail portfolio. Analysis performed included replication and independent benchmarking of existing thresholds for multiple scenario types, such as aggregation, rolling periods, and multiple transaction scenarios.
  • Reviewed governance and change control frameworks for AML models and systems across multiple banks. Models and systems in-scope include transaction monitoring and sanctions monitoring systems.
  • Performed end-to-end data validation for multiple US Financial Institutions, including assessment of source data quality, mapping of data elements and transformations from source to surveillance.
  • Audited the Compliance functions for multiple top US Financial Institution, including a review of the AML Program focused on the transaction monitoring, customer risk rating and sanctions screening models.
  • Designed a statistical framework to perform Fair Lending assessment of a top 50 US Financial Institution by analyzing the HMDA data for the Bank and its peers.
  • Developed retail risk models (for mortgage, small business and margin lending portfolios) for Basel II regulatory compliance through Advanced-Internal Rating Based (A-IRB) approach. This included selection of optimal risk drivers and risk pool segmentation, estimation and validation of risk parameters - probability of default (PD), exposure at default (EAD) and loss given default (LGD).
  • Assessed the regulatory compliance of the wholesale PD, EAD and LGD models for a top 10 US Financial Institution.

Areas of Expertise

  • AML Compliance Audit
  • AML/BSA model validation
  • AML Compliance
  • Model Governance
  • Model Risk
  • Model Validation
  • Quantitative Analysis

Industry Expertise

  • Financial Services


  • MS in Transportation Engineering, University of Texas at Austin
  • B.Tech in Civil Engineering, Indian Institute of Technology Madras

Professional Memberships and Certifications

  • Certified Anti-Money Laundering Specialist (CAMS)