Associate Director - Model and AI Risk Audit

Macquarie Bank Limited; Sydney; On-site; AUD 180,000 - 260,000; Full time

Benefits offered by this job

Wellbeing leave day

Service bonus leave

Parental leave

Volunteer leave

Gender affirmation leave

Employee Assistance Program

Salary packaging options

Learning & development reimbursement

Hybrid & flexible working

Work from home equipment allowance

Job summary

Macquarie Bank Limited is seeking an Associate Director to lead the Model and AI Risk Audit team. You will guide the audit scope across model, data and AI risks, influencing governance and risk management frameworks. This role requires strategic leadership and deep knowledge of AI risk and regulatory requirements.

You will shape coverage, mentor team members, and provide credible challenge to senior stakeholders while delivering insightful audit reports to management and the Board.

Qualifications

• Proven leadership in risk audit teams.
• Strong understanding of AI, model and data risk.
• Knowledge of regulatory frameworks and governance controls.

Responsibilities

• Lead the audit team covering Model and AI Risk, including credit, market, and treasury risks.
• Set strategic direction for audit coverage of Model and AI risks.
• Uplift audit capabilities; stay current with industry insights and technology trends.
• Form independent risk opinions and challenge senior stakeholders.

Skills

Leadership

AI Risk

Governance

Regulatory awareness

Model testing

Strategic thinking

Job description

Associate Director - Model and AI Risk Audit

Our global Model, Data and AI Internal Audit team provides independent assurance on AI, model and data risks across Macquarie. Our team helps ensure model and AI solutions are supported by effective risk management, governance and control frameworks.

We are a global financial services group operating in 30 markets with 57 years of unbroken profitability. At Macquarie, you’re empowered to shape a career that is fulfilling and creates value. You will bring your insights and expertise to the task at hand and feel supported as you make your own kind of impact for a better future.

What role will you play?

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As an Associate Director within the Model Data and AI Risk audit team, you will lead the audit team covering Model and AI Risk, including credit risk, market risk, treasury, machine learning, Gen AI, and agentic AI models.

You will set strategic direction for the audit coverage for Model and AI risks, uplift the capabilities of the audit team, and develop the necessary enablers to allow the team to succeed. This includes keeping the team abreast of industry insights and bringing expertise together to provide comprehensive coverage of the relevant technology, operational, data and model risks associated with traditional and AI models.

You will support the team to form independent risk opinions, provide credible challenge to senior stakeholders across first and second lines of defence, prepare audit reports for senior management and the Board Audit Committee, and influence the implementation of Macquarie’s risk management framework across model and AI risk domains.

What you offer

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• A proactive mindset toward innovation, with experience leveraging AI-enabled tools and solutions to improve the efficiency, quality and insightfulness of audit work, while applying appropriate judgement, governance and risk awareness


• Proven leadership capability to support the model, data and AI risk audit team, including ability to provide guidance, training and set direction on risk-based model and AI risk audits.


• Strong understanding of modern AI architectures, platforms, and governance controls across the end-to-end AI development and operation lifecycle, and the relevant risks associated with AI use.


• Hands on model development and performance monitoring experience across various types of traditional and AI models, with the ability to assess and re-perform model testing such as back-testing, benchmarking, boundary testing, red-teaming, with the use of metrics to measure accuracy, recall, bias, and drift.


• Familiarity with the global regulatory environment Macquarie operates within and relevant global model and AI risk regulations such as SS1/23, the EU AI Act, and other applicable model risk, data privacy and AI-related industry guidance.

What we offer

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At Macquarie, you’re empowered to shape a career that’s rewarding in all the ways that matter most to you. Macquarie employees can access a wide range of benefits which, depending on employment type, include:

• 1 wellbeing leave day per year


• Up to 5 additional service bonus leave days per year


• Up to 20 weeks’ paid parental leave for primary caregivers along with 12 days of transition leave upon return to work, and 6 weeks’ paid leave for non-primary caregivers


• 2 days of paid volunteer leave and donation matching


• Up to 12 months’ gender affirmation leave, including 6 weeks’ paid leave


• Access to Employee Assistance Program and wellbeing benefits including skin and health checks, and flu vaccinations


• Access to a wide range of salary packaging options


• Access to a wide range of learning and development opportunities, including reimbursement for professional membership or subscription


• Hybrid and flexible working arrangements, dependent on role


• Reimbursement for work from home equipment

About the Internal Audit Division

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The Internal Audit Division provides independent and objective risk-based assurance on the effectiveness of Macquarie’s risk management framework. Our global team conducts risk-based reviews focused on the effective operation of controls and governance processes, identifying insights through innovation and critical thinking. Our collaboration across all Groups is crucial to highlight potential risks and ensures compliance with regulatory standards in maintaining Macquarie’s integrity and success.

Inclusion at Macquarie

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We are committed to providing an inclusive environment for all, where different experiences, skills and perspectives are valued and respected. Macquarie provides access to opportunities for all individuals regardless of race, colour, religion, sex, sexual orientation, national origin, age, disability, protected veteran status, genetic information, marital status, gender identity or any other characteristic or circumstance.

We provide reasonable adjustments to individuals who may need support during the recruitment process and employment. If you require an adjustment, please let us know during the application process.