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Internal Audit VP Model Risk

Job LocationLondon
EducationNot Mentioned
Salary£90,000 - £110,000 per annum
IndustryNot Mentioned
Functional AreaNot Mentioned
Job TypePermanent, full-time

Job Description

This role directs the timely delivery of complex high quality, value added assurance and audit reports for a portfolio of business activities, with a focus on model risk, which is responsible for the management of model risk across the firm. The Model Risk Management framework provides an independent set of controls over the key risks that are associated with the use of models for the purposes the banks businesses.Specific subject matter expertise regarding control disciplines and a solid understanding of Model Risk Management concepts and model life cycle, such as model governance, inventory, development, documentation, validation and use.Also, experience within first or second lines of defence pertaining to usage of models in areas including - Pricing &Valuation, Market risk (VAR & SVAR), Algorithmic Trading, Counterparty Credit Risk (CCR), IFRS9, Basel, Treasury, Finance, Loss Forecasting and Artificial Intelligence (AI).

  • Develops and executes a robust Audit Plan, by reviewable entity, for assigned businesses in accordance with Internal Audit standards, relevant government statutes and regulations and Citigroup and Citibank policies.
  • Delivers on time high quality audit reports, Internal Audit and Regulatory issue validation and (where appropriate, branch examinations, as well as business monitoring and governance committee reporting.
  • Directs complex audit activities for a component of a product line, function, or legal entity at the regional or country level including a portion of the audit annual plan.
  • Applies comprehensive expertise in one or more of the corporations businesses and leverages this knowledge into a leadership role in one or more teams.
  • Proactively advances integrated auditing concepts and use of technology. Closely follows latest trends in risk field and adapts them for application within own job and the business
  • Manages a complex and critical unit within Internal Audit, including a medium sized team of Internal Audit professionals. Recruits staff, develops talent, builds effective teams, and manages a budget. Possesses a broad and comprehensive understanding of different Internal Audit standards, policies and local regulations; applies a broad and comprehensive knowledge of high risk areas including: Consumer or Institutional Clients businesses, technology management; project/program management; regulatory compliance.
  • Develops effective senior line management relationships and has a strong understanding of the businesses.
  • Applies an in-depth understanding of the inter-relationships of business and support units throughout the corporation and how they impact the overall control environment and the audit approach.
  • Participates in major business initiatives and pro-actively advises and assists the business on change initiatives.
  • Frequently involved in matters that require complex judgments and solutions based on sophisticated analytical thought such as identifying solutions for a variety of complex and novel audit control issues. Analyzes reporting findings; Recommends appropriate interventions where needed. Proposes creative and pragmatic solutions for risk and control problems. Partners with Directors and Managing Directors to develop approaches for addressing broader corporate emerging issues.
  • Serves as lead reviewer for all types of reviews, including the most complex.
  • Pro-actively develops automated routines to help focus audit testing.
  • Conducts Business Monitoring, prepares and reviews Business Monitoring Quarterly Summaries.
  • Required skills
  • Internal Audit
  • Risk
  • Model Development
  • Keyskills :
    Internal Audit Risk Model Development

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