Audit Manager I (US) – Model Risk Audit

Job Description:

The Audit Manager I executes audits for an assigned business function or project as part of a team or as an individual contributor and/or provide subject matter expertise on audits ranging in complexity. May manage/lead a number of moderately complex audits related engagement and/or projects/initiatives. and has responsibility for completion of the audit.

Depth & Scope:

• Works as an audit subject matter expert and may coach and educate others

• Oversees and/or independently performs audits from end-to-end

• May lead moderately complex audits and have responsibility for completion of the audit

• Undertakes and completes a variety of projects and initiatives may include the integration of cross functional processes within own area of expertise

• Ability to process and handle confidential information with discretion

• Strong understanding of and practical experience with quantitative financial models including Probability of Default (PD) Loss Given Default (LGD) Exposure at Default (EAD) and other credit loss models; discounted cash flow and derivatives pricing models; Treasury non-trading market risk models; counterparty credit risk models; Value-at-Risk (VaR) models; portfolio risk and performance models; as well as Financial Crime Risk (AML/BSA) and fraud detection models. Demonstrated ability to assess model design development validation implementation performance monitoring and governance across these model types.

• Strong knowledge of statistical and quantitative techniques including regression analysis hypothesis testing probability theory time series analysis stochastic processes simulation methodologies model performance measurement and model monitoring. Demonstrated experience in assessing AI-related risks with practical expertise in reviewing and evaluating Machine Learning (ML) Generative AI (GenAI) and/or Agentic AI models including their development validation governance and ongoing performance monitoring.

• AML/BSA model experience is preferredbut not strictly requiredincluding familiarity with transaction monitoring alert triage customer risk rating and screening models.

• Experience evaluating model assumptions data quality feature engineering model limitations performance governance explainability fairness robustness and ongoing monitoring across traditional statistical machine learning and AI models.

• Proficiency in one or more programming languages or analytical platforms such as Python SQL SAS R MATLAB VBA or other quantitative and data analytics technologies.

• Experience with model implementation deployment lifecycle management and production model environments is considered an asset.

• Knowledge of model risk management frameworks regulatory expectations and industry standards including SR 26-2 Basel CCAR CECL/IFRS 9 and AI governance frameworks is preferred.

• Prior experience conducting model audits model validations or independent model reviews within financial institutions regulatory organizations or consulting firms is highly desirable.

• Strong analytical critical thinking and problem-solving skills with the ability to assess complex quantitative and AI-related risks.

• Excellent written and verbal communication skills with the ability to effectively communicate complex quantitative statistical and AI concepts to both technical and non-technical stakeholders.

• Proven ability to manage multiple priorities and deliver high-quality results in a fast-paced environment.

• Experience coaching mentoring and developing team members while contributing to the enhancement of audit methodologies tools and best practices.

• Demonstrated ability to lead or support moderately complex audit engagements model reviews and cross-functional initiatives while collaborating effectively with diverse stakeholders and senior management.

• 5 years of relevant experience in quantitative areas

Education & Experience:

• Undergraduate degree

• 5 years of relevant experience

• AML/BSA model experience is preferredbut not strictlyrequiredincluding familiarity with transaction monitoring alert triage customer risk rating and screening models.

• Undergraduate degree in Mathematics Statistics Economics Finance Physics or Engineering etc. with solid training of quantitative financial modelling techniques; graduate degrees preferred.

Preferred Skills:

• Analytical skills
• Computer skills
• Effective Communication
• Interpersonal Skills
• Negotiation Skills

Customer Accountabilities:

• Conducts audit work based on established audit plans and executes the auditin accordance withestablished standards ensuring completion

• Executes testing of controls such as but not limited to walkthroughs (leading and documentation) test scripts (development and execution) and issue management (identification and capturing in the grid)

• May execute the development of Audit Planning Memorandum (APM) Process Risk and Control Matrix (pRCM) Findings Grid and Audit Report

• May complete L1 reviews/sign off on all audit activities (i.e.walkthroughs test scripts test results grid evidence uploads)

• Contributes to the audit planning process for specific audits ensuringappropriate programsand audit risk assessments are completed accordingly

• Manages the ongoing audit communications process with the stakeholders during andsubsequent tothe audit

• Presents objective and independent audit opinion on the adequacy of internal controlsin accordance withestablished professional audit standards including presentation of findings and recommendations to stakeholders and audit management

• Executes follow-up of findings raised from regulatory and internal divisional auditsin accordance withfirm policy

• Provides subject matterexpertiseand/or input to audit projects/initiatives as a representative for area of specializationidentifykey risks andidentifyopportunities where controls are missing or are inadequate to mitigate these risks

Shareholder Accountabilities:

• Adheres to internal policies / procedures enterprise frameworks and methodologies and applicable regulatory guidelines contributes to the review of internal processes and activities andassistinidentifyingcontrol weaknesses / failures potential opportunities to improve operational efficiencies for own business area

• May develop and provides complex reporting analysis and assessments at the functional or enterprise level

• Prioritizes and manages own workload to deliver quality results and meet assigned timelines

• Keeps current on emerging trends / developments and grows knowledge of the business analytical tools and techniques and apply them where appropriate

• Develops and delivers audit findings presentations / communications to management or broader audience

• Assesses / identifies key issues and escalates toappropriate levelsand relevant stakeholders where

• Contributes to the analysis duediligenceand implementation of initiatives within defined area of responsibility

Employee/Team Accountabilities:

• Continuously enhances knowledge /expertisein own area

• Supports a positive work environment that promotes service to the business qualityinnovationand teamwork and ensurestimelycommunication of issues / points of interest

• Identifiesand recommends opportunities to enhance productivityeffectivenessand operational efficiency

• Establishes effective relationships across multiple businesses

• Participates in knowledge transfer within the team and business units

• Works to achieve individual goals and support other team members in the achievement of team goals and divisionalobjectives

Physical Requirements:

Never: 0%; Occasional: 1-33%; Frequent: 34-66%; Continuous: 67-100%

• Domestic Travel Occasional

• International Travel Never

• Performing sedentary work Continuous

• Performing multiple tasks Continuous

• Operating standard office equipment - Continuous

• Responding quickly to sounds Occasional

• Sitting Continuous

• Standing Occasional

• Walking Occasional

• Moving safely in confined spaces Occasional

• Lifting/Carrying (under 25 lbs.) Occasional

• Lifting/Carrying (over 25 lbs.) Never

• Squatting Occasional

• Bending Occasional

• Kneeling Never

• Crawling Never

• Climbing Never

• Reaching overhead Never

• Reaching forward Occasional

• Pushing Never

• Pulling Never

• Twisting Never

• Concentrating forlong periodsof time Continuous

• Applying common sense to deal with problems involving standardized situations Continuous

• Readingwritingandcomprehendinginstructions Continuous

• Adding subtractingmultiplyingand dividing Continuous

The above statements are intended to describe the general nature and level of work being performed by people assigned to this job. They are not intended to be an exhaustive list of all responsibilitiesdutiesand skills. The listed or specified responsibilities & duties are considered essential functions for ADA purposes.