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As a Senior Audit Manager in Group Internal Audit and Investigations (GIAI), you will join our specialist Model Risk audit team and leverage your first-hand experience model experience (developer / validator / oversight). You will work closely with the Audit Director - Model Risk (AD-MR) to develop and implement a comprehensive audit strategy, ensuring robust assurance over Model Risk Management (MRM). This role is crucial in enhancing our model risk oversight capabilities and does not require prior audit experience, but a keen interest in developing audit skills is essential.
Job Responsibility:
Participate as a subject matter expert in model risk-related audits, performing testing, concluding opinions, and supporting the drafting of audit issues
Ensure assigned audit work is executed efficiently and effectively, within budget and timelines, and in line with GIAI methodology standards
Act as a Team Leader on model risk audits, deliver key audit planning documents, manage team members, draft accurate issues, agree on SMART actions with stakeholders, and write balanced reports
Lead continuous monitoring of assigned model families and maintain engagement with relevant stakeholders across all lines of defence
Participate in department-wide exercises such as annual planning, risk assessment, and training
Support the AD-MR in their role as the GIAI Model Family Subject Matter Expert, providing model risk knowledge and expertise for audits across GIAI
Attend and present at formal committees and Group meetings on behalf of the AD-MR or for your area of responsibility, as required
Track and validate assigned audit issues, ensuring that risks are mitigated through timely delivery of agreed management action plans
Continuously seek out opportunities to improve and advance activities leveraging data, automation, and technology
Requirements:
10+ years of experience across banking or consulting, with strong expertise in Model Development or Model Validation
In-depth understanding of quantitative Model Risk Management, processes, and associated control requirements
Quantitative degree is preferred e.g. mathematics or finance, or professional certifications FRM / CFA
Strong communicator, both written and verbal, with ability to clearly explain risks and controls
Advanced experience in key model areas such as credit risk (IRB, IFRS9), market risk (IMA, FM), or Counterparty Credit Risk (IMM)
Core understanding of regulatory guidance and requirements around Model Risk management, including UK and European (CRR and EBA) requirements, or Asian regulators such as Singapore (MAS) and Hong Kong (HKMA)
Coding and analytics/visualisation experience with tools such as PowerBI, Tableau, or similar is desirable
Certifications in analytics and AI/Gen AI will be an advantage
Nice to have:
Experience of other modelling areas such as Financial Crime and the use of Artificial Intelligence is also desirable
Audit experience is desirable, either conducting or participating in audit reviews
A professional audit certification is an added advantage
What we offer:
A competitive salary and benefits to support your mental, physical, financial and social wellbeing
Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations
Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum
Flexible working options based around home and office locations, with flexible working patterns
Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning
Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential
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