AI Risk & Controls Testing Specialist

AI Risk & Controls Testing Specialist

Location: Toronto ON (On-Site)

Job Type: Contract

Position Overview:

Our client is seeking a contract AI Risk & Controls Testing Specialist to support an engagement within a highly regulated financial services environment. This role requires a strong foundation in internal audit and controls testing combined with the ability to independently assess and validate AI-supported testing outputs.

The successful candidate will perform control testing across IT and business environments evaluate the quality and appropriateness of audit evidence and apply professional judgment to confirm that AI-generated procedures and conclusions are accurate complete and aligned with control objectives. This position is on-site in Toronto in accordance with client requirements.

Key Responsibilities:

Control Testing and Risk Assessment

• Execute structured testing of IT General Controls (ITGCs) business process controls and regulatory compliance controls
• Evaluate control design and operating effectiveness to determine whether controls are functioning as intended
• Confirm testing procedures appropriately address stated risks and control objectives
• Identify exceptions unsupported conclusions and testing gaps requiring further validation

AI-Enabled Output Review and Validation

• Leverage AI-enabled tools to support testing activities in accordance with defined protocols
• Develop and refine prompts to assess the reliability and consistency of AI responses
• Review and validate AI-generated deliverables including:
  • Testing procedures and approaches
  • Evidence request lists
  • Testing results and conclusions
• Independently assess outputs for completeness accuracy and alignment with control intent
• Categorize output quality (accurate partially accurate inaccurate incomplete) and escalate concerns to engagement leadership

Workpaper Documentation and Reporting

• Prepare clear defensible audit documentation that outlines:
  • Procedures performed
  • Evidence reviewed
  • Results and identified exceptions
  • Evaluation of AI-generated outputs
• Assess audit evidence for sufficiency relevance and appropriateness
• Summarize testing outcomes objectively and in accordance with engagement quality standards

Required Qualifications:

• Experience supporting or performing control testing (SOX internal audit operational risk compliance or related areas).
• Strong understanding of risk management principles and internal control frameworks.
• Demonstrated familiarity with ITGCs business process controls and regulatory compliance environments.
• Ability to apply professional judgment when evaluating automated or AI-generated work products.
• Strong written communication skills particularly for audit documentation and workpapers.
• Proficiency in Excel Word and structured tracking tools.
• Ability to work on-site in Toronto.
• Prior experience within financial services industry.
• Exposure to model risk management validation frameworks or AI governance concepts.
• Experience working with AI-enabled tools in a professional environment.
• Proven ability to operate effectively within structured testing protocols and quality-controlled environments.
• Strict adherence to confidentiality data privacy and information security standards.
• Ability to collaborate effectively with engagement teams client stakeholders and control functions.
• Commitment to maintaining high-quality documentation standards suitable for internal and regulatory review.

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