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Model Risk Audit Director
Finance & Investment Industry Company
New York, NY, United States
Job Details - this job has expired, please see similar jobs below
Company is a leading global wealth manager with strong investment banking and asset management capabilities. Founded in 1856, Company has expanded to be a global force employing over 45,000 people in 50 countries. With new leadership, a new strategy and a streamlined global organization, we are set for growth. We partner across businesses, divisions and regions to create innovative solutions to meet the needs of our clients—and to help our employees grow. It is a high priority for us to continually invest in our employees by providing ongoing opportunities for training, networking and mobility. Join us and let's shape the future of Company together.
We Offer
This opportunity is for individuals to perform audit procedures covering the end to end model development and validation process, including: review and testing of model design, implementation, application, validation and governance processes. You will establish relationships with key partners, keep up to date with emerging standard methodologies and developments and perform continuous risk monitoring activities. Another important area is to support the globally responsible Head of Audit Model Risk located in Zurich to further develop the New York team according to the long-term strategy of Internal Audit with regards to headcount and audit execution.
As a part of this team you will get exposure to modeling and model validation in a wide range of activities, including risk management, pricing/valuation, capital, stress testing, and other business decision making models. The current heightened regulatory focus on these areas and the broader model risk scopes also guarantees a significant level of interest and visibility to the business and senior management.
Review and assess the model development and independent model validation performed by CS based on review and testing of the development and validation processes and documentation
Investigating key aspects of each model under review, incl. model documentation, model selection, input data, theoretical construction, implementation (independent calculation) and model governance (inventory related models, blocking issues, agreed actions, approvals/limitations and/or conditions of use
Participation in working groups addressing modeling issues and the model control environment
Reviewing findings with colleagues in different audit groups including business and subject matter experts
Developing appropriate controls to mitigate for model risk and residual uncertainty
Documenting the testing performed
Company maintains a Working Flexibility Policy, subject to the terms as set forth in the Company United States Employment Handbook.
You Offer
Broad experience in team leadership and team building
Proven records of role modeling to drive the team of delivering high quality results to strict deadlines
Strong planning and organizational skills with the ability to react timely with changing priorities
Excellent communication and writing skills (fluency in English is a prerequisite) as you will have direct communication with senior management
A Master's degree or PhD in mathematics, physics, engineering, econometrics and finance. Experience in data analysis and management, and trading risk management systems would be an advantage
Proven model risk audit or other model risk assurance expertise (independent validation or regulatory environment) in the financial services
Company is an equal opportunity employer. Welcoming diversity gives us a competitive advantage in the global marketplace and drives our success. Company complies with applicable federal, state, and local laws prohibiting discrimination in employment in every jurisdiction in which it maintains facilities. Subject to applicable law and regulatory requirements, Company complies with state and local laws regarding considering for employment qualified individuals with criminal histories.