Model Risk Auditor - Vice President

Hackajob is collaborating with BNY to connect them with exceptional professionals for this role.

About the Role

We are seeking a highly motivated Model Risk Auditor to join our dynamic Model Risk Internal Audit team. This role is located in London, UK.

Key Responsibilities

In this role, you will make an impact in the following ways:

• Lead or participate in complex Internal Audit engagements focused on model risk, including reviews of counterparty risk and market risk models, across all phases of the audit lifecycle: planning, fieldwork, and reporting.
• Evaluate the design and operating effectiveness of controls over model development, implementation, use, and validation activities, including supporting documentation, modeling methodologies, input data, parameter selection, outcome analysis, and other significant modeling judgments.
• Perform and oversee audit testing with sufficient depth, accuracy, and rigor to support conclusions regarding adherence to Internal Audit methodology, internal policies and procedures, and applicable regulatory requirements.
• Identify, assess, and communicate significant issues and control weaknesses within model risk areas under review, and effectively challenge management to drive appropriate and timely remediation.
• Prepare high-quality audit reports and other written deliverables that clearly articulate observations, risk implications, root causes, and recommendations.
• Monitor and validate the remediation of audit findings, including evaluating the design and operating effectiveness of corrective actions, where applicable.
• Provide guidance, coaching, and constructive feedback to team members, including reviewing audit workpapers to ensure quality, consistency, and adherence to Internal Audit standards.
• Develop and maintain effective working relationships with key stakeholders across Risk, Model Risk Management, Front Office, and other control functions, while contributing to continuous monitoring activities in model risk areas.
• Serve as a subject matter expert within Internal Audit on model risk management practices, with particular focus on counterparty risk and market risk frameworks, regulatory expectations, and industry developments.
• Identify control environment gaps, emerging risks, and inconsistencies with regulatory expectations, and contribute to the development and refinement of the annual Internal Audit plan for model risk.
• Maintain current knowledge of model risk management practices, counterparty risk and market risk methodologies, evolving regulatory expectations, and relevant industry standards.
• Apply a data-driven mindset and leverage advanced data analytics to enhance audit coverage, strengthen risk assessment, and deliver value-added audit insights.
• Support ad hoc reviews, special projects, and other Internal Audit initiatives as directed by senior audit management.