Audit Manager II (US) - Model Risk Audit

TD • New York, NY

8d • $94,980 - $153,790 • Onsite

About The Position

This role is for an Audit Manager II within the Model Risk Audit practice area. The position requires autonomous work, acting as a lead, and providing work direction to others. The individual will leverage seasoned specialized knowledge to advise stakeholders and team members, potentially leading complex audits. The role may have an enterprise-wide impact, involving the completion of complex audit projects and initiatives that require specialist knowledge or the integration of cross-functional processes. The ability to manage multiple concurrent audits from end to end and handle confidential information with discretion is essential.

Requirements

• Strong expertise in quantitative financial models such as credit risk models (PD, LGD, EAD, CECL), discounted cash flow and derivatives pricing models, Treasury market risk, counterparty credit risk, VaR, or portfolio risk and performance models.
• Demonstrated experience assessing model design, development, validation, implementation, performance monitoring, or governance, supported by strong knowledge of regression analysis, hypothesis testing, probability theory, time series analysis, stochastic processes, simulation methodologies, and model performance measurement.
• 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.
• 7+ years of relevant experience in quantitative areas.
• Undergraduate degree required.
• 7+ years of relevant experience.

Nice To Haves

• Financial Crime Risk (AML/BSA) and fraud detection models are a plus.
• Expertise in evaluating AI-related risks and reviewing Machine Learning (ML), Generative AI (GenAI), and Agentic AI models, including their development, validation, governance, and ongoing performance monitoring are plus.
• 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.

Responsibilities

• Act as a lead within a specialized audit practice area and provide work direction to others.
• Provide seasoned specialized knowledge, advice, and/or guidance to various stakeholders and team members.
• Lead and/or provide supervisory oversight to complex audits and ensure completion.
• Undertake and complete a variety of complex audit projects and initiatives requiring specialist knowledge and/or the integration of cross-functional processes within own area of expertise.
• Oversee and/or independently perform concurrent multiple audits and related tasks from end to end.
• Process and handle confidential information with discretion.
• Support the development and implementation of audit programs by contributing insights and assisting with planning activities.
• Participate in audit engagements across multiple areas, helping ensure audits are conducted in line with established standards and timelines.
• Execute the development of Audit Planning Memorandum (APM), Process Risk and Control Matrix (pRCM), Findings Grid and Audit Report.
• Complete L1 reviews/sign off on all audit activities (i.e. walkthroughs, test scripts, test results, grid, evidence uploads).
• Oversee / lead audits and/or execute the follow-up of findings arising from internal audits and regulatory reviews in accordance with policy.
• Oversee / lead the ongoing audit communications and/or the reporting process with the stakeholders, senior management and external auditors for specific and/or overall Audit area.
• Contribute to audit initiatives by providing input and assisting in the design and testing of solutions, as well as supporting implementation efforts.
• Lead / manage the integrated implementation of policies / processes / procedures / changes across multiple functional areas.
• Act as the audit lead or audit advisor to management and respective teams for area of specialization.
• Report on emerging trends, identifying issues and opportunities and recommending action to senior management.
• Facilitate key discussions and provide thought leadership to executive audience.
• Adhere to internal policies / procedures, enterprise frameworks and methodologies and applicable regulatory guidelines.
• Contribute to the review of internal processes and activities and assist in identifying control weaknesses / failures, potential opportunities to improve operational efficiencies for their business area.
• Actively manage relationships with business lines / corporate and/or control functions and ensure alignment with enterprise and/or regulatory requirements.
• Keep abreast of emerging issues, trends, and evolving regulatory requirements and assess potential impacts to the Bank.
• Assess / identify key issues and escalate to appropriate levels and relevant stakeholders where required.
• Maintain a culture of risk management and control, supported by effective processes and sound infrastructure in alignment with risk appetite.
• Participate in cross-functional / enterprise initiatives as a subject matter expert helping to identify risk / provides guidance for complex situations.
• Provide thought leadership and/or industry knowledge for own area of expertise.
• Encourage a positive work environment that promotes service to the business, quality, innovation and teamwork and ensure timely communication of issues / points of interest.
• Identify and recommend opportunities to enhance productivity, effectiveness and operational efficiency.
• Work effectively as a team, supporting other members of the team in achieving business objectives and providing stakeholders services.
• Participate in knowledge transfer within the team and business units.
• Contribute to the overall performance management process by providing coaching and input into team members' assessment on assigned audits.

Benefits

• Base salary
• Variable compensation/incentive awards (e.g., eligibility for cash and/or equity incentive awards, generally through participation in an incentive plan)
• Health and well-being benefits
• Savings and retirement programs
• Paid time off (including Vacation PTO, Flex PTO, and Holiday PTO)
• Banking benefits and discounts
• Career development
• Reward and recognition
• Training programs
• Online learning platform
• Mentoring programs

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: Associate degree