About the position
The Audit Manager for Quantitative Risk Modeling is responsible for identifying and mitigating model and business risks within the bank. This role serves as a trusted advisor and subject matter expert, collaborating with various stakeholders, including external regulators, to review different model types. The position involves leading a team of internal and external resources and reporting to the Treasury and Model Audit Director.
Responsibilities
• Own and drive effective assurance and quantitative testing for various model suites across the model inventory.
• Conduct model validation reviews, ongoing performance monitoring reviews, and model governance reviews.
• Serve as a subject matter expert, partnering with internal audit teams to provide model coverage recommendations.
• Support the Treasury and Model Audit Director in refining and executing the model strategy.
• Demonstrate strong project management skills to manage multiple projects concurrently.
• Manage multiple teams to achieve departmental and organizational goals through coaching and feedback.
• Deliver organized messages to senior management and regulators, both in writing and verbally.
• Develop and maintain strong working relationships with key management members and the Internal Audit department.
• Evaluate model review results to identify issues, themes, and trends, developing actionable recommendations for improvement.
• Ensure the team has adequate knowledge in critical areas to execute the assigned model review plan, coaching and mentoring staff throughout the process.
• Interact directly with management during engagements, providing dynamic feedback to enhance evolving processes.
• Utilize knowledge of strategic planning, resource allocation, and coordination of personnel and resources to drive effective audit outcomes.
Requirements
• Bachelor's degree in mathematics, statistics, or a related field.
• 7+ years of experience in quantitative modeling, model risk, or model internal audit, with experience as a quantitative risk analyst in the financial services industry.
• Strong understanding of financial predictive modeling fields, including consumer behavioral modeling, time series forecasting, optimization theory, panel data analysis, and decision science, as well as AI and machine learning modeling.
• Detailed knowledge of model governance processes and regulatory requirements for U.S. banks, specifically SR 11-7 Supervisory Guidance on Model Risk Management.
• Clear understanding of methodology and regulatory expectations in executing model-related audit work, issue validation, MRA validation, and responding to regulatory inquiries.
• Excellent proficiency in Microsoft Office suite products (Excel, Outlook, PowerPoint, Word, and Visio) and Adobe Acrobat.
• Excellent analytical, critical thinking, and problem-solving skills.
• Strong verbal and written communication skills, with demonstrated ability to articulate findings effectively.
• Ability to work in a collaborative, team-oriented, hybrid work environment.
• Professional certification (e.g., CIA, CPA, CAMS, CFE, CRCM, etc.) or completion of certification within 24 months of hire.
Nice-to-haves
• Advanced degree in a quantitative field such as economics, statistics, finance, mathematics, or physics.
• Comprehensive knowledge of deposit models, capital stress testing (CCAR) models, credit risk (CECL) models, and interest rate risk models.
• Advanced skills with one or more analytical tools (e.g., SQL, SAS, R, Python, or MATLAB).
• Strong knowledge of risk frameworks, such as COSO's Internal Control - Integrated Framework.
Benefits
• Hybrid work environment
• Equal employment opportunities
• Commitment to diversity and inclusion
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