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US Model Risk Audit - Director
Finance & Investment Industry Company
New York, NY, United States
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Description
About Barclays Internal Audit
Barclays Internal Audit (BIA) Vision: To assist Barclays in becoming the Go To Bank, by facilitating the improvement of the Governance and Control Environment. We:
• Attract and retain the most talented and diverse internal audit team (Colleagues).
• Target excellence in our performance and continuously review our innovative yet simple audit processes to maximise BIA efficiencies (Company).
• Using our integrity and judgement, we audit the right things in the right way at the right time (Conduct).
• Partner with clients to maximise the effectiveness of the Governance and Control Environment (Customer and Client).
• Positively contribute to the Barclays Group Citizenship Plan (Citizenship).
Overall purpose of role:
• To work collaboratively with others to develop strong client relationships and lead delivery of the BIA Audit Plan. Reporting to the Managing Director, Global Head of Risk Management Audit. The jobholder, will be responsible for providing assurance of the effectiveness of Barclays Model Risk Management practises; and
• Provide leadership to the US based model risk based audit team covering auditing of models and model risk processes across Barclays.
Key Accountabilities:
• Manage execution of audit work
• Maintain and risk assess the audit universe and audit coverage strategy
• Perform continuous monitoring of relevant areas in the business
• Monitor, follow-up on and assess the resolution of audit issues
• Contribute to the audit opinion
• Contribute to evaluating the enterprise risk framework, policies and standards
• Contribute to evaluating the management control approach and control environment of relevant business areas
• Prepare and manage regulatory requests in relation to the portfolio
Stakeholder Management and Leadership:
• Lead discussions with business management regarding audit observations and issues, consult with relevant BIA Director/MDs where applicable. Ensure all client/customer viewpoints are considered when make decisions.
• Play a proactive role in supporting the definition of risk profiles, work effectively with colleagues across BIA to ensure the BIA audit plan maximise resources.
• Continually build long-term, quality and trusted relationships with a wide network of colleagues and external partners.
• Produce concise and insightful commentary and information for BIA wide reporting, e.g. Barclays Audit Committee, Intermediate Holding Company Audit Committee, and Governance Risk and Compliance Committees.
• Deputise for relevant BIA Director/MDs as required at Business Unit, Regional or Function Governance and Control Committees or relevant legal entity Subsidiary Audit Committees.
• Work collaboratively to drive progress in the team, embedding the performance culture and role modelling Barclays values and behaviors to:
• Mentor and coach others to be open, honest and reliable.
• Provide constructive, open and timely feedback to support personal and career development of others to achieve their full potential.
• Identify and develop talent.
• Attract and retain the best people through taking part in activities inside and outside the organisation.
• Develop succession plans.
• Share knowledge with others across team/function.
• Recognize and celebrate the contribution made by those around you.
• Promote a culture of learning from mistakes.
• Assign audit and line management responsibilities, direction and guidance to direct reports while maintaining an in-depth knowledge of activities in each area.
Decision-making and Problem Solving:
• Guide, review and approve work carried out on audit assignments to ensure the scope of work is appropriate, controls are correctly identified, assessed and carried out in accordance with BIA Methodology, policies, professional standards and budget.
• Deliver a view on the effectiveness and adequacy of risk management and controls to the relevant BIA Director/MD and the business.
• Contribute to clear and insightful committee reporting, audit reporting and propose pragmatic remediation actions, relevant to the issues raised by BIA.
• Bring to the attention of the relevant BIA Director/MD and executive management control and risk management issues, weaknesses or irregularities of material significance in the existence of application of controls.
• Strive to empower others to bring efficiency to audit processes.
• Build a deep understanding of the strategy of each business area of the organisation responsible for which may impact the audit plan, including social/economic/technological trends in all client and customer groups. Understand client/customer needs to be able to adapt, where appropriate.
• Support relevant BIA Director/MDs in defining the risk profile for their business area; use this to define and manage the audit plan.
• Set the standard for exceptional reporting standards.
• Update awareness of risk issues and changes across relevant business areas. Use this knowledge to input to audit strategy and direction.
• Promote a culture of efficiency through use of expert knowledge to focus audit plan and to support BIA strategic direction.
• Oversee effective and efficient use of the team’s resources and budget.
Risk and Control:
Ensure that all activities and duties are carried out in full compliance with regulatory requirements, Enterprise Wide Risk Management Framework and internal Barclays Policies and Policy Standards
Your Skills and Experience
Basic Qualifications:
• 4-year college degree
• Masters degree in a quantitative subject such as Math, Physics, Operational Research, Economics or Finance, or a track record of performance that demonstrates this ability
• 10+ years in a quantitative role within risk management, risk audit, finance and/or project management in a financial institution, including experience in either model development, model validation, or model risk auditing
• 5+ years of team management experience & senior stakeholder relationship management
Preferred Qualifications
• Practical understanding of relevant regulatory environment including model risk best practices, SR 11-7, SR 15-18, CCAR, DFAST, and European / US capital requirements
• Ideal candidate will have experience in both Model Risk and Audit
• Strong understanding of end-to-end model lifecycle (e.g. model development, implementation, validation process)
• Familiarity with CCAR requirements, including governance and documentation standards
• Excellent knowledge and understanding of a wide variety of model development and validation statistical techniques covering primarily credit and market risk
• Able to produce high quality written communication including reviews of models, risk policies, and presentations for technical and non-technical audiences.
• Proven track record of high performance in previous roles to include senior client management
• Extensive technical knowledge of Risk, Finance, CCAR/Stress Testing models.
• Experience of the development and execution of audit strategy and assurance plans, and delivery of audits within a fast paced and challenging environment
• Demonstrate understanding of the complexities of large corporate organisations and how to apply this to the role.
• Demonstrate a strong understanding of financial services across different product lines and technical disciplines
• Significant experience leading and developing high performing teams. Developing leaders in the organization through feedback, coaching and mentoring.
• Extensive experience of developing and maintaining relationships with MD level executive management.
• Track record of success/high performance in a large, matrix organisation
• Evidence of driving change/leading business initiatives/contributing to team and function strategy
• Relevant professional qualifications (e.g. FRM)
• Candidate must be willing and able to support travel (20%)
The Benefits: Our customers deserve the best. The same goes for our employees. That's why at Barclays you'll receive a range of benefits that include a competitive salary and all the tools, technology and support you need to succeed.
Our Culture: Everything we do is shaped by the five values of Respect, Integrity, Service, Excellence and Stewardship. The values inform the foundations of our relationships with customers and clients, but they also shape how we measure and reward the performance of our employees. Simply put, success is not just about what you achieve, but about how you achieve it.
Dynamic working gives everyone at Barclays the opportunity to integrate professional and personal lives, if you have a need for flexibility then please discuss this with the hiring manager.
EEO statement
It is the policy of Barclays to ensure equal employment opportunity without discrimination or harassment on the basis of race, color, creed, religion, national origin, alienage or citizenship status, age, sex, sexual orientation, gender identity or expression, marital or domestic/civil partnership status, disability, veteran status, genetic information, or any other basis protected by law.