Hybrid, 3 days onsite, 2 days remote
We are unable to sponsor as this is a permanent Full time role
A prestigious company is looking for a Financial Risk & Modeling Internal Auditor. This auditor will need to have experience calculating complex derivatives and perform advanced statistical analysis on underlying risk factors.
Responsibilities
- Lead or execute quantitative reviews/audits/validations (conceptual soundness, documentation, data, methodology, development code, testing, and implementation for accuracy) of models or financial risk tools used for credit risk, market risk, liquidity risk and stress testing.
- Support financial risk management audits and validations as required.
- Effectively communicate complex technical quantitative analysis (based on data and models), principles, methods, and approach to relevant stakeholders.
- Perform audit activities including risk assessments, audit planning, audit testing, control evaluation, and complete work paper documentation in accordance with Internal Audit requirements (eg IIA GIA).
- Communicate identified findings and enhancements to audit management and key stakeholders.
- Draft audit reports clearly communicate overall conclusions, key risks, findings and their root cause, and impact on company's overall risk exposure.
- Perform continuous monitoring of model risk identifying patterns and trends to understand their impact on company's overall risk level and controls.
- Effectively challenge risk management (first and second lines of defense) to adopt appropriate policies, procedures, and effective controls designed to mitigate financial risk.
- Support the development or enhancement of audit procedures and templates for auditing financial risk management.
- Support in developing and implementing data analytics and automated testing.
- Ensure audit quality, accuracy of results, and delivery in a timely manner.
- Proactively identify regulatory, operational, and/or strategic risks to the organization and present them to IA leadership.
- Coach and develop junior audit staff in financial risk management practices as part of their on-going development.
Qualifications
- Minimum 5 years of experience in model risk management methodology.
- A master's degree in mathematics or Statistics, Financial Engineering, Economics, or other field possessing strong quantitative, analytical, and problem-solving skills. Alternatively, a Ph. D degree majored in quantitative field and over 1 year of work experience.
- Experience in executing model risk audits.
- Experience using the principles, practices, and techniques involved in conducting audits in accordance with the requirements set forth in the Global International Audit Standards (IIA GIA).
- Experience in Internal Audit, Model Risk Management, Financial Services/Securities Industry and working with regulatory organizations such as: Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), Financial Industry Regulatory Authority (FINRA), Federal Reserve.
- Experience in evaluating complex derivatives and performing advanced statistical analysis on underlying risk factors.
- Experience with reviewing credit/counterparty risk and stress testing models for derivative instruments (eg, Historical VaR, Monte Carlo, TIMS and SPAN).
- Experience in data analysis and programming languages such as Python, C , and Java.