VP – Risk Audit Manager – Modeling

VP – Risk Audit Manager – Modeling

Requirements

• Bachelors or advance degree in statistics, mathematics, or equivalent with a minimum of 8 years of relevant experience working with models.
• Must be willing to travel up to 20% of the time.

Responsibilities

• Contribute to the direction and focus of the Risk Internal Audit team’s activities through active engagement in risk assessment, audit planning, and continuous monitoring processes.
• Assess inherent, control and residual risks with expertise in modeling practices, techniques, and validation processes as well as risk management strategies and data analytics.
• Draft audit plans, develop audit tests, and lead audit execution for all applicable modeling and model risk management functions and activities. Identify and assess the impact of control deficiencies including those related to the use and management of models.
• Prepare high quality audit deliverables including planning memoranda, audit programs, working papers, drafts of audit issues, and audit reports.
• Present audit results to various levels of Internal Audit leadership, as well as the business organization.
• Ensure effective and efficient execution of audits in conformance with professional and departmental standards, budgets, and timelines.
• Maintain high awareness of economic, regulatory, and business risks and issues, taking action to assure required adjustments to risk assessments, audit plans, and audit programs.
• Maintain effective working relationship with key stakeholders responsible for modeling processes and model risk management.
• Research relevant banking, regulation, risk management, and operational topics.
• Act as model subject matter advisor and technical resource for the team by providing consulting, creating standard model work programs, and providing model training and job aids to the broader department.
• Maintain technical subject matter internal audit competency through ongoing professional development.

Preferred Qualifications

• Minimum 7-10+ years working with models in a development, validation, or risk management function within the banking/credit management industry.
• Knowledge and experience of risk, modeling, and capital management requirements and processes.
• Knowledge and experience with FRB, BHC, OCC, and FDIC regulatory risk management requirements and related guidance.
• Prior experience auditing, examining, or working in a financial/regulatory environment.
• Experience interacting with regulators and auditors strongly preferred.
• Knowledgeable and experienced in control theory and professional auditing practices.
• Ability to effectively integrate business, operational, technological, and financial components into audit work performed.
• Ability to objectively identify problems and recommend solutions to complex control, financial, or technical issues.
• Understands all relevant business technologies and their impact to the control environment.
• Strong written and verbal communication skills to deliver to line management high quality, actionable feedback on a variety of audit related issues.
• Able to work independently on multiple assignments while effectively supporting teamwork and achievement of team objectives.
• Strong analytical, risk management, and problem solving skills.
• An attention to detail.
• Strong PC Skills – MS Office suite.