Job Description
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 Apply tot his job