Audit Manager, Model Risk

Canadian Imperial Bank of Commerce•Chicago, NY

1d•Hybrid

About The Position

CIBC’s Internal Audit team helps strengthen trust, accountability, and sound risk management across the bank. The Audit Manager I, Model Risk executes model risk audit programs and assesses whether controls are designed and operating effectively in alignment with internal policies, industry best practices, and regulatory requirements, including SR 26-2. The role involves performing audit testing, documenting clear and well-supported results, and communicating findings, themes, and recommendations to management and risk partners in a timely manner. The position applies knowledge of model risk and the broader risk and control environment to evaluate complex issues, identify opportunities to improve business processes, and escalate critical concerns when needed. The Audit Manager builds relationships with business partners, contributes to a positive risk culture, and develops expertise in risk management disciplines, audit practices, industry practices, and evolving regulatory expectations. The role is based in New York, NY, with a hybrid arrangement requiring at least two days per week onsite and other days remote.

Requirements

At least 3 years of relevant financial services industry experience, including model risk audit, model development, or model validation experience.
Experience reviewing or assessing complex models in a regulated environment is helpful for success in the role.
Demonstrated experience with Python, SAS, or R.
A degree in a quantitative field such as Statistics, Financial Engineering, Physics, Economics, Mathematics, or Data Science.
Ability to investigate complex problems, assess model-related risks, and draw evidence-based conclusions.
Ability to communicate detailed information clearly and meaningfully.
Ability to build effective working relationships, communicate confidently, and collaborate professionally with partners and stakeholders.
Ability to manage multiple priorities, exercise sound judgment in complex situations, and apply critical thinking to produce high-quality, well-supported audit outcomes.
Must be legally eligible to work at the specified location and, where applicable, have a valid work or study permit.
The position is not available for visa sponsorship.

Nice To Haves

Advanced experience applying Python, SAS, or R in model development, validation, or audit testing.
Doctoral degree in a quantitative discipline.

Responsibilities

Execute model risk audit programs, perform testing, and assess control design and effectiveness.
Provide timely, meaningful feedback to management.
Identify control gaps, emerging themes, and best practices that can improve business partner operations and strengthen the bank’s control environment.
Document audit work, results, and conclusions clearly and accurately to support findings and maintain a complete audit trail.
Communicate risks, issues, and status updates to key stakeholders and risk partners.
Escalate critical or high-risk matters to the appropriate leadership team.
Build collaborative, respectful relationships with business partners to foster cooperation and support a positive risk culture.
Pursue training, exposure, and development opportunities to deepen expertise in model risk management, audit methodology, industry practices, and regulatory requirements.