Internal Audit Model Risk Management, Vice President

MUFG Bank

230d • $133,000 - $164,000

About The Position

The Auditor II role within the Internal Audit function is responsible for supporting independent, objective assurance and consulting activities designed to evaluate and assess the effectiveness of the Bank's governance, risk management and control processes. This role includes, but is not limited to, supporting execution on all activities related to the end-to-end audit process (e.g., planning, fieldwork testing, reporting, issues validation, etc.) and supporting general audit administration activities across the organization, as assigned.

Requirements

• Minimum of college degree, preferably in Statistics, Mathematics, Economics, or Financial Engineering or related quantitative discipline from an accredited college or university.
• CPA/CIA/FRM Certification preferred or willing to seek certification.
• Strong quantitative, analytical, organizational and team skills.
• Ability to understand and evaluate complex quantitative models.
• Knowledge and skills to effectively challenge the work performed by first line model owners, developers, implementors and second line model validators.
• Knowledge of model risk management regulatory requirements/expectations applicable to USA.
• Knowledge and skills to structure and execute efficient model risk management audit including planning, fieldwork, reporting, tracking and follow up on issues.
• Reasonable knowledge of computer software to replicate some model implementation, if needed.

Nice To Haves

• Minimum of 10 years and/or equivalent of experience of internal audit and/or equivalent of experience with the financial services industry.
• Experience preferred in model risk management, issue validation or equivalent.
• Exhibits effective communication (both verbal and written), negotiation and presentation skills.
• Strong analytical and problem-solving skills.
• Employs critical thinking skills to identify pragmatic recommendations within an evolving and increasingly complex regulatory and risk management environment.
• Reasonable knowledge of technology/analytical techniques as required for assigned areas (MS Office, SAS, SQL, Python, R, C/C++, Excel & VBA, Machine learning and Statistical Modeling, Monte Carlo Simulations, Regression Analysis).

Responsibilities

• Assist in conducting and supporting model risk management internal audits by evaluating the operating effectiveness of existing model risk management processes.
• Maintain compliance with audit methodology, while also operating within industry best practices, applicable regulations, and internal and external professional practice expectations.
• Act as a leader and role model and continuously improve self and department.
• Build relationships with peers and clients within the organization and exhibit a high standard of performance and professional conduct.
• Operate with an innovative and flexible mindset by continuously identifying ways to enhance consistency, efficiency, quality and/or value.
• Demonstrate professional skepticism and personal accountability.
• Properly validate remediated issues in accordance with Audit methodology.
• Lead walkthrough meetings and interviews with business stakeholders to develop an understanding of business processes.
• Lead formal discussions with business stakeholders throughout the duration of audit engagements to communicate status or concerns.
• Identify potential risks and controls and assist in developing scope and work programs.
• Evaluate design and operational effectiveness of internal controls and identify control weaknesses.
• Generate insightful, meaningful observations that effectively convey significance and impact on risk and/or risk management practices.
• Prepare work papers and audit reports with documented results that adhere to methodology, applicable standards and regulatory requirements.
• Document workpapers demonstrating the work were appropriately performed.
• Identify control weaknesses and escalate and discuss findings with Audit Management and business stakeholders as appropriate.
• Complete work on a timely basis and deliver work products that meet objectives and standards of methodology.

Benefits

• Comprehensive health and wellness benefits.
• Retirement plans.
• Educational assistance and training programs.
• Income replacement for qualified employees with disabilities.
• Paid maternity and parental bonding leave.
• Paid vacation, sick days, and holidays.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree