Senior Consultant - Model Audit

EY; Toronto; On-site; CAD 70,000 - 110,000; Full time

Job summary

An established industry player is seeking a Model Audit Senior Consultant to join their Financial Services Risk Management team. In this pivotal role, you will conduct thorough audits of complex financial models, ensuring compliance with regulatory standards. Your expertise in critical thinking and attention to detail will be essential as you evaluate model assumptions and methodologies. This dynamic organization offers a supportive culture and a comprehensive rewards package, empowering you to grow your career while making a significant impact on clients and the financial landscape. If you are passionate about risk management and eager to contribute to a better working world, this opportunity is perfect for you.

Benefits

Comprehensive medical coverage

Defined contribution pension plan

Great vacation policy

Firm paid days for long weekends

Opportunities to develop new skills

Support and coaching from colleagues

Flexible work arrangements

Qualifications

• Master’s degree required in a quantitative field like Mathematics or Finance.
• 2-3 years of experience in Model Validation or Audit role.

Responsibilities

• Conduct audit reviews of IFRS 9 ECL and related models.
• Build relationships with clients and stakeholders.

Skills

Attention to detail

Critical Thinking

Independence

Communication Skills

Documentation Skills

Soft Skills

Education

Master’s degree in a quantitative field

Tools

R

Python

SQL

Job description

At EY, you’ll have the chance to build a career as unique as you are, with the global scale, support, inclusive culture and technology to become the best version of you. And we’re counting on your unique voice and perspective to help EY become even better, too. Join us and build an exceptional experience for yourself, and a better working world for all.

The opportunity

As part of the Financial Services Risk Management (FSRM) practice, you will be a key member of a specialized team supporting our Assurance Service Line to provide expert opinion on client IFRS 9 ECL, regulatory and economic capital, liquidity and other related models.

Your key responsibilities

As an FSRM – Model Audit Senior Consultant, you’ll conduct audit/assurance reviews of IFRS 9 ECL, regulatory and economic capital, liquidity and other related models. You will work effectively as a team member, providing support, maintaining communication, and updating engagement managers, senior managers, directors, and partners on progress. You’ll also build valuable relationships with external clients as well as internal stakeholders.

You’ll serve as a role model to junior team members for quality and risk management, ensuring they understand and comply with EY’s Quality & Risk Management guidelines. As a Senior Consultant, you’ll also communicate effectively with junior team members and help cultivate them into high performers.

Skills and attributes for success:

• Attention to detail: Meticulously review documentation, validation reports, and performance assessments to ensure accuracy and compliance
• Critical Thinking: The ability to critically evaluate model assumptions, methodologies, and outputs to identify potential issues and areas for improvement
• Independence: Provide an independent and objective assessment of models, ensuring they meet regulatory requirements and are suitable for financial reporting or disclosures
• Communication Skills: Effective communication with stakeholders to convey findings, recommendations, and potential impacts on financial estimates.
• Documentation Skills: Proficiency in organizing and documenting the review process, including replication of key validation procedures and control evaluations.
• Soft Skills: Focus on personal growth, communication, and collaboration to enhance audit methodology and reporting

To qualify for the role you must have:

• Master’s degree in a quantitative field (e.g., Mathematics, Statistics, Economics, Finance, Engineering).
• Minimum of 2-3 years of relevant professional experience in a Big 4 and/or banking environment in a Model Validation, Model Risk Management or Model Audit Role
• Experience in a project-based, team-oriented environment, ideally in the banking sector or consulting, with a proven track record of managing teams and delivering in fast-paced and demanding environments
• Experience and proficiency in programming languages: R, Python, or SQL
• Excellent analytical, report-writing, facilitation, and presentation skills
• Strong management skills and proven people management skills
• Experience in managing both internal and external stakeholders
• Ability and appetite to drive business development and contribute to the growth of EY’s solutions

Ideally, you’ll also have:

• Professional certifications: FRM, CFA and/or Actuarial Designation
• Knowledge of credit risk and regulatory capital requirements (BASEL, AIRB, CCAR, ICAAP) and financial reporting standards (IFRS 9, US GAAP)
• Knowledge or experience of credit risk models and methodologies: Measurement Methodologies (PD, LGD and EAD), retail credit risk scorecards and wholesale risk rating models

What we look for

Highly motivated individuals with excellent problem-solving skills and the ability to prioritize shifting workloads in a rapidly changing industry. An effective communicator, you’ll be a confident leader equipped with strong people management skills and a genuine passion to make things happen in a dynamic organization. If you’re ready to take on a wide range of responsibilities and are committed to seeking out new ways to make a difference, this role is for you.

What we offer

At EY, our Total Rewards package supports our commitment to creating a leading people culture - built on high-performance teaming - where everyone can achieve their potential and contribute to building a better working world for our people, our clients and our communities. It's one of the many reasons we repeatedly win awards for being a great place to work.

We offer a competitive compensation package where you’ll be rewarded based on your performance and recognized for the value you bring to our business. In addition, our Total Rewards package allows you to decide which benefits are right for you and which ones help you create a solid foundation for your future. Our Total Rewards package includes a comprehensive medical, prescription drug and dental coverage, a defined contribution pension plan, a great vacation policy plus firm paid days that allow you to enjoy longer long weekends throughout the year, statutory holidays and paid personal days (based on province of residence), and a range of exciting programs and benefits designed to support your physical, financial and social well-being. Plus, we offer:

• Support, coaching and feedback from some of the most engaging colleagues around
• Opportunities to develop new skills and progress your career
• The freedom and flexibility to handle your role in a way that’s right for you

Diversity and Inclusion at EY

Diversity and inclusiveness are at the heart of who we are and how we work. We’re committed to fostering an environment where differences are valued, policies and practices are equitable, and our people feel a sense of belonging. We embrace diversity and are committed to combating systemic racism, advancing gender equity and women in leadership, advocating for the 2SLGBTQIA+ community, promoting our neuroinclusion and accessibility initiatives, and are dedicated to amplifying the voices of Indigenous peoples (First Nations, Inuit, and Métis) nationally as we strive towards reconciliation. Our diverse experiences, abilities, backgrounds, and perspectives make our people unique and help guide us. Because when people feel free to be their authentic selves at work, they bring their best and are empowered to build a better working world.

EY | Building a better working world

EY exists to build a better working world, helping to create long-term value for clients, people and society and build trust in the capital markets.

Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.

Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.