Risk-Audit Job Description

Risk-Audit Job Description

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Risk-audit provides thought leadership for model risk management practices, including ongoing monitoring of model risk relative to changing market and credit conditions.

Risk-Audit Duties & Responsibilities

To write an effective risk-audit job description, begin by listing detailed duties, responsibilities and expectations. We have included risk-audit job description templates that you can modify and use.

Sample responsibilities for this position include:

Assist with the planning of global audits of the CSG Credit Risk Management (CRO) functions
Have a good understanding of pertinent regulations and key business systems within aligned business area
Continually maintain awareness of advancements in relevant best practices, regulations, subject matter areas, risk management techniques and audit approaches
Raise observations that are insightful, accurate, address the root cause and add value to the business, ensuring that audit scopes reflect wider implications
Engage and motivate others to develop their skills/knowledge/experience to contribute to the success of the firm
Provide guidance to Assistant Vice Presidents (AVPs) during audit assignments
Create an environment to encourage knowledge sharing, asking questions and sharing viewpoints with colleagues and peers in the business
Understand and manage risks and risk events, thereby contributing to the adherence to the firm's Risk and Control Framework
Serving as one of the resident subject matter experts for the subject areas
Assisting in the development of the risk assessment and of a comprehensive global risk management and oversight audit testing plan that is in line with the CAE's and regulatory expectations

Risk-Audit Qualifications

Qualifications for a job description may include education, certification, and experience.

Licensing or Certifications for Risk-Audit

List any licenses or certifications required by the position: CIA, CISA, CPA, CMA, CA, CCIM, PMP, APC, RICS, CFE

Education for Risk-Audit

Typically a job would require a certain level of education.

Employers hiring for the risk-audit job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Master's Degree in Business, Accounting, Finance, Education, Economics, Management, Graduate, Engineering, Statistics, Computer Science

Skills for Risk-Audit

Desired skills for risk-audit include:

MS Word
Excel and audit software tools
Analytics and risk management practices
Credit adjudication
Credit risk processes
Auditing
Commercial corporate banking
Market
You'll be able to advance your career in this critical leadership role
Application

Desired experience for risk-audit includes:

A sound understanding of risk exposure exposure measurement methodologies
The successful candidate will demonstrate a thorough understanding of Basel 2, 2.5 and 3, AIRB, IMM rules (FINMA, PRA)
Ability to effectively interact with all levels of the organization including Sr
Must possess strong administrative and interpersonal skills sound business judgment and ability to make decisions in conflicting situations
Execute the timely and effective planning, completion, maintenance and execution of each allocated risk management audit, including risk assessment of assigned processes and critical systems
Identifying and presenting meaningful and practical recommendations and serving as a change agent that will make an immediate impact in the subject areas

Risk-Audit Examples

1

Risk-Audit Job Description

Job Description Example
Our innovative and growing company is looking for a risk-audit. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for risk-audit
  • Review and complete documentation of scoping, process understanding, risk & control identification, control evaluation and observations
  • Provide complete, accurate and timely information to clients
  • Provide an opinion, highlight concerns and factor local conclusions into Head of Audit, Operational Risk's risk assessment, Quarterly Business Review and audit planning
  • Act as the subject matter expert on Operational Risk & Reputational Risk framework matters within the Americas Internal Audit department
  • Support local Head of Audit's assessment of the Operational Risk and Reputational Risk frameworks against their Risk Assessment Units
  • Represent the Americas Internal Audit department in various internal management forums and communities of interest
  • Continually update awareness and understanding of the Operational Risk & Reputational Risk subject matter
  • Participate in relevant local peer Bank and industry forums / discussions to enable benchmarking to best practices
  • Manage the local element of Operational / Reputational Risk audits
  • Providing subject matter expertise on operational risk matters for the APAC internal audit department
Qualifications for risk-audit
  • Previous experience with Operational Risk Management
  • Applicants should be qualified accountants and trained in practice and/or the financial services sector/industry
  • Strong technical skill-set across various technologies and platforms including Operating Systems (Windows, Unix, Linux)
  • Documenting the results of work performed
  • Proficient understanding of internal audit processes including setting the audit scope
  • 5+ years of experience with pricing financial products in businesses such as equities, rates, commodities, FX
2

Risk-Audit Job Description

Job Description Example
Our company is growing rapidly and is looking for a risk-audit. Please review the list of responsibilities and qualifications. While this is our ideal list, we will consider candidates that do not necessarily have all of the qualifications, but have sufficient experience and talent.
Responsibilities for risk-audit
  • Understand how market risk is mitigated
  • Understand whether controls are fit for purpose across Market risk and IPV
  • Assist with audits conducted across the enterprise, with a specific focus on CCAR, Market Risk, Liquidity Risk, Credit Risk and AML/BSA
  • Managing the planning and execution of operational risk audits
  • Representing the internal audit department in management meetings and managing effective work relationships with internal stakeholders regionally and globally
  • Work with other team members to ensure audit work and other projects undertaken throughout the Group provides appropriate assurance
  • Assist in the continuing development and improvement of the Risk and Audit team
  • Carry out and oversee other work as required
  • Contribute to the direction and focus of the Risk Internal Audit team's activities through active engagement in risk assessment, audit planning, and continuous monitoring processes
  • Draft audit plans, develop audit tests, and lead audit execution for all applicable modeling and model risk management functions and activities
Qualifications for risk-audit
  • Experience in a Financial Services or public accounting firm, with an appropriate level of exposure to and involvement with Risk Management particularly Credit Risk
  • 5 years internal audit/ Risk and Control experience as part of a financial services internal audit and/or risk management department
  • Act as model subject matter advisor and technical resource for the team by providing consulting, creating standard model work programs, and providing model training and job aids to the broader department
  • 8+ years of relevant experience working with Models
  • Bachelor's or Advanced Degree in Statistics, Mathematics, or equivalent
  • CPA, CIA or related certification
3

Risk-Audit Job Description

Job Description Example
Our company is searching for experienced candidates for the position of risk-audit. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for risk-audit
  • Partner with colleagues, clients and control community members to evaluate, test and report on the adequacy and effectiveness of management controls which is conducted in accordance with department policies and procedures, industry professional standards and supervisory rule and guidance
  • Review quantitative modeling processes of Credit Risk (models and analytical tools)
  • Identify and communicate compensating controls in response to potential client findings
  • Developing and executing a robust Audit Plan by reviewable entity for assigned businesses in accordance with Internal Audit standards, relevant government statutes and regulations
  • Managing a complex and critical unit within Internal Audit, including a small to medium sized team of Internal Audit professionals
  • Leading the professional development of Internal Audit staff
  • Participating in major business initiatives and proactively advising and assisting the business on change initiatives
  • Attending and reporting to all ARCC meetings, including the preparation of internal audit papers
  • Development, ownership and delivery of the group risk management plan and internal audit plan
  • Manage the identification, prioritization and management of key risks to ensure business compliance
Qualifications for risk-audit
  • BA/BS, all majors are considered, concentration in Accounting, Finance or Economics
  • Degree from a university or technical college in business informatics
  • Broad background of information technology IT/data architecture and lifecycles, data governance, service management, testing or data/system migration
  • Ability to interpret new regulations and translate into consulting opportunities
  • At least 6 years of experience in audit, at least 6 years of experience in risk management, at least 6 years of experience in compliance, at least 6 years of experience in financial analysis, or a combination of these
  • Master’s degree in Accounting, Master’s degree in Finance, Master’s degree in Economics, or Master of Business Administration
4

Risk-Audit Job Description

Job Description Example
Our company is growing rapidly and is searching for experienced candidates for the position of risk-audit. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for risk-audit
  • Big 4 experience preferred but not required
  • Combination of 2-3 years IA with 5-10 years Credit experience or if all in IA focusing on Credit Risk or most recent 5 years on Credit risk
  • Familiarity with FINMA / PRA requirements on top of FRBNY requirements preferred
  • Contribute to the strategic direction of Audit Division, on the development of audit plans, identification of emerging trends, issues and evolving regulatory requirements
  • Assist with implementing a corporate-wide risk management process to effectively capture and report on enterprise risks to the organization
  • Review and complete processes and documentation of scoping, risk & control identification, control evaluation and observations in the company's audit toolkit
  • Develop a wide network of contacts across the company and the business to identify and work towards strategic goals
  • Collaborate and support the Director to define the appropriate coverage strategy and audit plan
  • Review and complete processes and documentation of scoping, risk & control identification, control evaluation and observations in the audit toolkit
  • Identify new opportunities that would result from cross-team collaboration
Qualifications for risk-audit
  • Financial services industry experience, retail banking, insurance, funds, capital markets, payment processors
  • Knowledge of risk related frameworks and standards
  • Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Risk Compliance Manager (CRCM), Certified Risk Management Assurance (CRMA) or Chartered Financial Analyst (CFA)
  • 9+ years of experience in audit, 9+ years of experience in risk management, 9+ years of experience in compliance, 9+ years of experience in financial analysis, or a combination of these
  • Working knowledge and experience with analysis tools such as IDEA, Audit Control Language, and proficiency in Microsoft Access, Word, Excel, PowerPoint, and Visio
  • Strong organizational and time management skills preferred
5

Risk-Audit Job Description

Job Description Example
Our company is growing rapidly and is looking for a risk-audit. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for risk-audit
  • Oversight and guidance on WSPs, operational manuals
  • Establish open and effective communication with management
  • Serve as contact with Risk management in a collaborative way to foster positive working relationships, provide control advice and issue trends and to stay abreast of major business activities and changes in the business
  • Support continuous process improvement by identifying needs and opportunities and recommending appropriate process changes
  • Develop/maintain expertise in Risk Management subject areas and champion knowledge transfer to staff
  • Conduct risk assessments at contract level enterprise-level
  • Assist in preparing annual Internal Audit and Risk programs
  • Conduct risk based Internal Audits and Project Management reviews
  • Advise on Governance, Risk Management and Process Improvements throughout the organisation
  • Participate in undertaking comprehensive planning and risk assessments relating to each assignment to ensure that the engagement identifies potential business risks
Qualifications for risk-audit
  • Of related experience in the compliance, information security, or risk field, including an audit function
  • 5+ years of IT Audit experience in the Financial Services industry
  • Bachelor's Degree in Finance, Information Systems and/or a related field
  • Building and validating risk models
  • Enterprise level risk assessment
  • Provide subject matter support to the audit division on audit methodology for data risks including data management

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