Audit Manager I (Model Risk)

CIBC

385d • $120,000 - $150,000 • Hybrid

About The Position

The Senior Auditor II (Model Risk) at CIBC is responsible for executing audit programs specifically focused on Model Risk. This role involves performing testing in model audit programs, documenting audit results, communicating findings to management, and conducting continuous monitoring activities to evaluate the adequacy of controls in compliance with internal policies and regulatory requirements.

Requirements

• Bachelor's degree in a quantitative field, e.g. Statistics, Financial Engineering, Physics, Economics, Mathematics, Data Science
• At least 2 years of relevant work experience, including model risk audit experience, model development or model validation experience in the financial services industry
• 1+ years of programming experience in Python, SAS, or R
• Excellent verbal and written communication skills
• Ability to effectively manage multiple projects with challenging timelines
• Values matter to you. You bring your real self to work and you live our values - trust, teamwork and accountability.

Nice To Haves

• A Master's degree in a quantitative field
• 2+ years of model development, model validation, or model risk auditing experience in at least one of these areas: Internal Rating-Based (IRB) Models, Regulatory Capital Models, Market Risk Models, Trading Room Pricing models, ML/AI models, preferably from a large financial institution
• Familiarity with risk management principles, preferably in Enterprise Risk Management, Model Risk Management, or financial risk disciplines.

Responsibilities

• Conduct audit testing in model audit programs and provide timely feedback to management
• Identify control gaps and/or best practices that help improve business partner operations and ensure an effective control environment for the bank
• Make decisions in complex situations requiring solid understanding of risk management framework and the risk and control environment
• Document audit results in a manner that adequately communicates and supports the work performed and conclusions reached
• Escalate any critical or high-risk issues/themes to appropriate leadership
• Provide status updates to key stakeholders on programs and specific reviews where warranted
• Assess, document, and communicate risks, themes and identified issues in various models to risk partners in a timely manner
• Manage business partner relationships in a manner that fosters cooperation, respect and a positive risk culture
• Proactively seek relevant education, exposure and/or training opportunities to understand and gain proficiency in Risk Management disciplines, industry best practices and regulations
• Help advance our purpose-driven culture by demonstrating CIBC values

Benefits

• Medical, Dental, Vision, Health Savings Account
• Life Insurance
• Disability and Other Insurance Plans
• Paid Time Off (including Sick Leave, Parental Leave and Vacation)
• Holidays
• 401(k)
• Incentive compensation plan with discretionary bonus component

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree
• Number of Employees: 10,001+ employees