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Audit Director
TD Bank
New York, NY, United States
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TD Description
About TD Bank, America's Most Convenient Bank®
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit www.tdbank.com. Find TD Bank on Facebook at www.facebook.com/TDBank and on Twitter at www.twitter.com/TDBank_US.
TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". To learn more, visit www.td.com.
Department Overview
As part of the TDS,TBSM, Capital, Finance and Models Audit group, the Model and Market Risk Audit (MMRA) team is responsible for assessing design and operating effectiveness of controls designed for managing various model risks; evaluating compliance of the Bank’s model risk management practices with regulatory requirements, best market practices, and the Bank’s model risk policies. The group is also serving as subject matter expertise within Internal Audit to provide support to all audit groups in all quantitative aspects when required. The models and methodologies include models used for valuation, risk measurement/management, regulatory/economic capital calculation/management, and performance measurement/management of financial products across the Bank and all types of risk (Market Risk, Credit Risk, Operational Risk, Liquidity Risk, etc.).
Job Description
This is a very exciting and visible global role which will allow you to be involved in high profile enterprise initiatives which are key to the bank's overall success.
Reporting to the VP, TDS, TBSM, Capital, Finance and Models Audit the Audit Director, Model and Market Risk is the most senior quantitative expert within the audit department responsible for leading a global team (based in Toronto and NYC) of quantitative audit professionals. The general accountabilities of this role include but are not limited to the following:
In addition, the Audit Director will liaise with other Audit groups to the extent that corporate initiatives, audits, special reviews or projects require subject matter expertise in quantitative capabilities.
Accountabilities include:
• Lead the audit efforts of Model and Market Risk function. This includes building and maintaining the Audit Universe, defining the annual audit plan and execution and providing guidance when applicable to other internal audit groups.
• Lead, design and develop the audit plan, risk assessment, reviewing and approving the scope of audits; ensuring audits are completed in adherence to Audit Division standards and reporting results to Senior Management.
• Frequently involved in matters that require complex discernments and solutions based on sophisticated analytical thought such as identifying solutions for a variety of complex and novel audit control issues.
• Keep Audit Division abreast of regulatory developments and industry standards in Model and Market Risk Management through development and maintenance of relevant Centers of Expertise.
• Foster positive relationship with regulators both in Canada and the US (including OSFI, OCC and FRB).
• Demonstrates strong judgment, political astuteness, and sensitivity to cultural diversity.
• Possesses strong project management and interpersonal skills, makes sound decisions, exhibiting initiative and intuitive thinking. Consulted often by others for advice and opinions and recognized as a leadership role model.
• Maintain a high-performance quantitative audit team where individuals feel empowered and motivated to perform to the best of their abilities.
• Analyzes reporting findings; Recommends appropriate interventions where needed. Proposes creative and pragmatic solutions for risk and control problems.
• Partners with other AVP's and VP have to develop approaches for addressing broader corporate emerging issues.
Job Requirements
Advanced degree in a quantitative field such as Mathematics, Economics, Statistics, Engineering, Finance or related field
10+ years relevant industry and/or audit experience
Strong CCAR, Capital Markets as well as Market Risk Management experience
Related certifications (CFA, FRM, CIA, CISA or similar) are a plus
Ability to clearly communicate complex ideas to senior partners who do not necessarily have technical expertise in modelling and model risk.
Promote a positive and high performing work environment.
Skilled at coaching and managing a diverse group of professionals
Strong knowledge of quantitative modelling techniques.
A very deep understanding of regulatory expectations both in Canada and the US, as well as being able to foster good relationships with the applicable regulators (including OSFI, FRB, OCC etc.).
Experience working on large regulatory initiatives (for example CCAR, Material Model Modifications etc.).
Strong leadership to direct a group of quantitative auditors to ensure group plans and objectives are achieved.
Robust organizational skills with the ability to work in a fast-paced environment and manage multiple deadlines and priorities
Strong people management skills with demonstrated experience in leading high performing teams
Strong presentation and facilitation skills and strong interpersonal and leadership skills to facilitate working with senior management at all level
Reviews and approves Business Monitoring Quarterly Summaries
Some travel required
Inclusiveness
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live in and serve, and creating an environment where every employee has the opportunity to reach her/his potential.
If you are a candidate with a disability and need an accommodation to complete the application process, email the TD Bank US Workplace Accommodations Program at USWAPTDO@td.com . Include your full name, best way to reach you, and the accommodation needed to assist you with the application process.
EOE/Minorities/Females/Veterans/Individuals with Disabilities/Sexual Orientation/Gender Identity.