Audit Manager I (US) – Model Risk Audit

TD•New York, NY

8d•$77,260 - $128,940•Onsite

About The Position

The Audit Manager I executes audits for an assigned business, function or project as part of a team or as an individual contributor and/or provide subject matter expertise on audits ranging in complexity. May manage/lead a number of moderately complex audits, related engagement and/or projects/initiatives and has responsibility for completion of the audit.

Requirements

Strong understanding of and practical experience with quantitative financial models, including Probability of Default (PD), Loss Given Default (LGD), Exposure at Default (EAD), and other credit loss models; discounted cash flow and derivatives pricing models; Treasury non-trading market risk models; counterparty credit risk models; Value-at-Risk (VaR) models; portfolio risk and performance models; as well as Financial Crime Risk (AML/BSA) and fraud detection models.
Demonstrated ability to assess model design, development, validation, implementation, performance monitoring, and governance across these model types.
Strong knowledge of statistical and quantitative techniques, including regression analysis, hypothesis testing, probability theory, time series analysis, stochastic processes, simulation methodologies, model performance measurement, and model monitoring.
Demonstrated experience in assessing AI-related risks, with practical expertise in reviewing and evaluating Machine Learning (ML), Generative AI (GenAI), and/or Agentic AI models, including their development, validation, governance, and ongoing performance monitoring.
Experience evaluating model assumptions, data quality, feature engineering, model limitations, performance, governance, explainability, fairness, robustness, and ongoing monitoring across traditional statistical, machine learning, and AI models.
Proficiency in one or more programming languages or analytical platforms, such as Python, SQL, SAS, R, MATLAB, VBA, or other quantitative and data analytics technologies.
Strong analytical, critical thinking, and problem-solving skills, with the ability to assess complex quantitative and AI-related risks.
Excellent written and verbal communication skills, with the ability to effectively communicate complex quantitative, statistical, and AI concepts to both technical and non-technical stakeholders.
Proven ability to manage multiple priorities and deliver high-quality results in a fast-paced environment.
Experience coaching, mentoring, and developing team members, while contributing to the enhancement of audit methodologies, tools, and best practices.
Demonstrated ability to lead or support moderately complex audit engagements, model reviews, and cross-functional initiatives, while collaborating effectively with diverse stakeholders and senior management.
5+ years of relevant experience in quantitative areas
Undergraduate degree required
5+ years of relevant experience

Nice To Haves

AML/BSA model experience is preferred but not strictly required, including familiarity with transaction monitoring, alert triage, customer risk rating, and screening models.
Experience with model implementation, deployment, lifecycle management, and production model environments is considered an asset.
Knowledge of model risk management frameworks, regulatory expectations, and industry standards, including SR 26-2, Basel, CCAR, CECL/IFRS 9, and AI governance frameworks, is preferred.
Prior experience conducting model audits, model validations, or independent model reviews within financial institutions, regulatory organizations, or consulting firms is highly desirable.
Undergraduate degree in Mathematics, Statistics, Economics, Finance, Physics or Engineering etc. with solid training of quantitative financial modelling techniques; graduate degrees preferred.
Analytical skills
Computer skills
Effective Communication
Interpersonal Skills
Negotiation Skills

Responsibilities

Works as an audit subject matter expert and may coach and educate others
Oversees and/or independently performs audits from end-to-end
May lead moderately complex audits and have responsibility for completion of the audit
Undertakes and completes a variety of projects and initiatives, may include the integration of cross functional processes within own area of expertise
Ability to process and handle confidential information with discretion
Conducts audit work based on established audit plans and executes the audit in accordance with established standards ensuring completion
Executes testing of controls such as but not limited to walkthroughs (leading and documentation), test scripts (development and execution), and issue management (identification and capturing in the grid)
May execute the development of Audit Planning Memorandum (APM), Process Risk and Control Matrix (pRCM), Findings Grid and Audit Report
May complete L1 reviews/sign off on all audit activities (i.e. walkthroughs, test scripts, test results, grid, evidence uploads)
Contributes to the audit planning process for specific audits, ensuring appropriate programs and audit risk assessments are completed accordingly
Manages the ongoing audit communications process with the stakeholders during and subsequent to the audit
Presents objective and independent audit opinion on the adequacy of internal controls in accordance with established professional audit standards, including presentation of findings and recommendations to stakeholders and audit management
Executes follow-up of findings raised from regulatory and internal divisional audits in accordance with firm policy
Provides subject matter expertise and/or input to audit projects/initiatives as a representative for area of specialization identify key risks and identify opportunities where controls are missing or are inadequate to mitigate these risks
Adheres to internal policies / procedures, enterprise frameworks and methodologies and applicable regulatory guidelines, contributes to the review of internal processes and activities and assist in identifying control weaknesses / failures, potential opportunities to improve operational efficiencies for own business area
May develop and provides complex reporting, analysis, and assessments at the functional or enterprise level
Prioritizes and manages own workload to deliver quality results and meet assigned timelines
Keeps current on emerging trends / developments and grows knowledge of the business, analytical tools and techniques and apply them where appropriate
Develops and delivers audit findings, presentations / communications to management or broader audience
Assesses / identifies key issues and escalates to appropriate levels and relevant stakeholders where required
Contributes to the analysis, due diligence and implementation of initiatives within defined area of responsibility
Continuously enhances knowledge / expertise in own area
Supports a positive work environment that promotes service to the business, quality, innovation and teamwork and ensures timely communication of issues / points of interest
Identifies and recommends opportunities to enhance productivity, effectiveness and operational efficiency
Establishes effective relationships across multiple businesses
Participates in knowledge transfer within the team and business units
Works to achieve individual goals and support other team members in the achievement of team goals and divisional objectives