Audit Manager II (US) - Model Risk Audit

TD Bank•New York, NY

10h•Onsite

About The Position

Works autonomously and is accountable for acting as a lead within a specialized audit practice area, providing work direction to others. This role offers seasoned specialized knowledge, advice, and guidance to various stakeholders and team members. It may involve leading and/or providing supervisory oversight to complex audits, ensuring their completion. The role requires knowledge of external competition, industry, and/or market trends in relation to own function/business, with a scope that may have enterprise impact. The position involves undertaking and completing a variety of complex audit projects and initiatives that require specialist knowledge and/or the integration of cross-functional processes within the area of expertise. The role may also oversee and/or independently perform concurrent multiple audits and related tasks from end to end, processing and handling confidential information with discretion.

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 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 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.
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

Works autonomously and accountable for acting as a lead within a specialized audit practice area and provide work direction to others
Provides seasoned specialized knowledge, advice and/or guidance to various stakeholders and team members
May lead and/or provide supervisory oversight to complex audits and ensure completion
Undertakes and completes a variety of complex audit projects and initiatives requiring specialist knowledge and/or the integration of cross functional processes within own area of expertise
May oversee and/or independently perform concurrent multiple audits and related tasks from end to end
Supports the development and implementation of audit programs by contributing insights and assisting with planning activities
Participates in audit engagements across multiple areas, helping ensure audits are conducted in line with established standards and timelines
Executes the development of Audit Planning Memorandum (APM), Process Risk and Control Matrix (pRCM), Findings Grid and Audit Report
Completes L1 reviews/sign off on all audit activities (i.e. walkthroughs, test scripts, test results, grid, evidence uploads)
Oversees / leads audits and/or execute the follow-up of findings arising from internal audits and regulatory reviews in accordance with policy
Oversees / leads the ongoing audit communications and/or the reporting process with the stakeholders, senior management and external auditors for specific and/or overall Audit area
Contributes to audit initiatives by providing input and assisting in the design and testing of solutions, as well as supporting implementation efforts
Leads / manages the integrated implementation of policies / processes / procedures / changes across multiple functional areas
Acts as the audit lead or audit advisor to management and respective teams for area of specialization
Reports on emerging trends, identifying issues and opportunities and recommending action to senior management
Facilitates key discussions and provide thought leadership to executive audience
Adheres to internal policies / procedures, enterprise frameworks and methodologies and applicable regulatory guidelines, contributes to the review of internal processes and activities and assists in identifying control weaknesses / failures, potential opportunities to improve operational efficiencies for their business area
Actively manages relationships with business lines / corporate and/or control functions and ensures alignment with enterprise and/or regulatory requirements
Keeps abreast of emerging issues, trends, and evolving regulatory requirements and assess potential impacts to the Bank
Assesses / identifies key issues and escalates to appropriate levels and relevant stakeholders where required
Maintains a culture of risk management and control, supported by effective processes and sound infrastructure in alignment with risk appetite
Participates in cross-functional / enterprise initiatives as a subject matter expert helping to identify risk / provides guidance for complex situations
Provides thought leadership and/or industry knowledge for own area of expertise
Encourages a positive work environment that promotes service to the business, quality, innovation and teamwork and ensure timely communication of issues / points of interest
Identifies and recommends opportunities to enhance productivity, effectiveness and operational efficiency
Works effectively as a team, supporting other members of the team in achieving business objectives and providing stakeholders services
Participates in knowledge transfer within the team and business units
Contributes to the overall performance management process by providing coaching and input into team members' assessment on assigned audits