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Audit Manager – Model Risks – ()

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Job Detail

  • Job ID 1007770
  • Career Level  Officer
  • Experience  5 Years
  • Industry  Finance
  • Qualifications  Degree Bachelor

Job Description

Job Responsibilities:

1. Model Risk Audit Planning and Execution:

  • Participate in the development and execution of the annual internal audit plan providing inputs on model risks.
  • Conduct audits of various models and analytical frameworks used for risk management, pricing, capital calculation, and decision-making processes.
  • Evaluate the effectiveness of model governance, including model development, validation, implementation, and monitoring processes.
  • Assess the accuracy, completeness, and reliability of data inputs used in models.
  • Perform technical testing and analysis, including model validation, stress testing, and sensitivity analysis.
  • Collaborate with other audit teams to deliver integrated audits and advisory assignments
  • Participate in the development of audit analytics and automation.

 

2. Audit Reporting and Documentation:

  • Prepare comprehensive audit reports detailing findings, risks, and recommendations for remediation.
  • Document audit procedures, evidence, and working papers in accordance with established standards and methodologies.
  • Collaborate with model developers, risk management teams, and business stakeholders to validate findings and ensure accurate reporting.

 

3. Risk Assessment and Advisory:

  • Analyze and evaluate the potential impact of identified risks on the organization’s decision- making processes, financial performance, and overall risk profile.
  • Provide practical recommendations to mitigate risks associated with models and enhance the effectiveness of model governance.
  • Assist in the development and implementation of remediation plans and model risk management strategies.
  • Contribute to model risk advisory projects and assessments, providing subject matter expertise and guidance

4. Continuous Learning and Development:

  • Stay updated with emerging model risk management practices, regulatory changes, and industry best practices related to model auditing.
  • Participate in training and professional development opportunities to enhance technical and auditing skills.
  • Contribute to the improvement of audit methodologies and procedures within the team.

5. Stakeholder Management and Mentorship:

  • Collaborate effectively with model developers, risk management teams, business units, and relevant stakeholders during audit engagements.
  • Foster positive relationships and maintain open communication channels to facilitate the audit process.
  • Provide guidance, mentorship, and support to junior auditors and team members.

Required skills

Advanced degree(s) preferred. Bachelor’s degree in quantitative fields such as mathematics, statistics, economics, or a related fi Minimum of 5 years of experience in model risk auditing, risk management, or related roles. Professional certifications such as Certified Model Risk Manager (CMRM) or equivalent.

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