Senior Auditor, Model Risk & Validation

Finance Professionals Inc.; Toronto; Hybrid; CAD 96,000 - 114,000; Full time

Job summary

Finance Professionals Inc. in Downtown Toronto is seeking a Senior Auditor, Model Risk & Validation to conduct audits focusing on design and operating effectiveness of model risk controls.

This contract role may serve as Team Participate or Office in Charge on less complex projects, with exposure to a top Canadian bank environment. You will execute end-to-end audit procedures, document findings with root cause analysis, and communicate results to management while upholding regulatory and Conduct

Qualifications

• 8+ years developing, validating or auditing statistical/predictive models.
• 3+ years in Credit and Fraud Risk management, with model development knowledge.
• 3+ years experience in retail and Business Banking Credit Risk AIRB parameters (PD, LGD, EAD).

Responsibilities

• Executes assigned audit activities independently as a team member under the direction of the OIC.
• Delivers end-to-end audit execution within scheduled timeline with appropriate testing.
• Communicates findings with root cause, impact, and corrective actions.
• Ensures controls are effective to meet regulatory and conduct requirements.

Skills

Model risk management

Credit risk

Fraud risk

Risk strategy

Statistical modeling

Education

STEM degree

Tools

SQL

SAS

R

Python

Job description

JOB DESCRIPTION

Location: Hybrid (Downtown, Toronto)

Duration: 7 months

Our client a leading financial institution in Downtown Toronto is looking for a Senior Auditor, Model Risk & Validation to conduct audits as Team Participate or sometimes as Office in Charge (OIC) (for less complex projects) to assess the design and operating effectiveness of model risk management and controls, and ensure business strategies, plans and initiatives are executed/delivered in compliance with governing regulations, internal policies and procedures. The successful candidate will have the opportunity to work with one of the Top 5 Banks in Canada.

Typical Day in role:

• Executes assigned audit activities independently as a team member under the direction of the OIC on assignments. This includes a thorough understanding of the business/unit/process and associated risks, completion of audit procedures and testing, discussions with management and documentation of work performed.
• Delivers end-to-end audit execution process within scheduled timeline and ensures nature and extent of testing is appropriate to support the objective, scope and overall opinion.
• Ensures audit findings and results are gathered and timely communicated with identified root cause, associated impact, audit recommendations and management actions that address the root cause. Ensures audit issues/reports are written with a consistent high standard, audit steps/results are clearly documented, and corrective action/progress against any reported issues are tracked and updated.
• Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas in accordance with the bank’s values and its Code of Conduct while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational, compliance, AML/ATF/sanctions, cyber security and conduct risk.

Must-Have Skills:

• 8+ years of experience of developing, validating or auditing statistical/predictive models
• 3+ years of work experience in Credit and Fraud Risk management, specifically with experience in risk strategy and model development (knowledge of model risk management regulations including E-23 and SR26-2)
• 3+ years of experience in retail and Business Banking Credit Risk AIRB parameters (PD, LGD, EAD)

Nice-To-Have Skills:

• 3+ years of relevant experience in Data Analytics, Advanced Analytics, Predictive Modelling and Artificial Intelligence and Machine Learning.
• Strong knowledge of/experience with modelling techniques and statistical tests and tools (SQL, SAS, R, Python, etc.)

Soft Skills Required:

• Developed interpersonal and communication skills (verbal and written) to work with staff and management at various levels.
• Ability to work on multiple projects at any given time and work in high levels of ambiguity and a changing environment.

Education:

• Degree in a STEM area such as Math, Statistics, Economics, Business, etc.

FP Inc. is committed to creating an inclusive environment where all team members and clients feel like they belong. In accordance with the requirements set out in the Employment Standards Act, FP Inc. hereby declares that AI is utilized in the screening process for this position. The hourly compensation range for this role is C$70 - C$83. We seek applicants with a wide range of abilities, and we provide an accessible candidate experience. We advocate for you and welcome anyone regardless of race, colour, religion, national origin, sex, physical or mental disability, or age.