Senior Audit, Model Risk

Huatai International Financial Holdings Company Limited; Hong Kong; On-site; HKD 900,000 - 1,300,000; Full time

Job summary

Huatai International Financial Holdings Company Limited is seeking a seasoned strategic audit professional to oversee model risk across the firm. The role involves challenging model governance, validating methodologies, and guiding remediation with senior leadership across global operations.

Ideal candidates have 10+ years in quantitative risk, deep product knowledge, and advanced degrees. Strong communication in English/Chinese is essential.

Qualifications

• Track record in quantitative risk management or model audit in finance.
• Experience in second/third line of defense for model risk preferred.
• Strong understanding of investment banking products and risk systems.

Responsibilities

• Define and maintain model risk audit universe across the firm’s first and second lines of defense.
• Design risk-based audit strategy and regular planning.
• Ensure regulatory alignment on model risk management.
• Present findings to senior management and board when required.
• Lead audits of pricing models, VaR, and credit risk models globally.
• Identify hidden governance gaps and monitor remediation progress.

Skills

Stochastic calculus

Monte Carlo simulations

Derivatives pricing models

Market risk models

Credit risk models

Executive communication

Leadership

Education

Master's or PhD in Mathematics, Financial Engineering, Physics, Statistics, Computing, Economics or relevant numerical subject

Tools

Python

C++

Job description

About Us:
Huatai International Financial Holdings Company Limited (“Huatai International” or “the Company”), is the only overseas wholly-owned or controlled subsidiary of Huatai Securities. Huatai International is the Huatai Group’s international arm which plays as a crucial role in the group’s internationalization strategy by:
a) not only providing offshore capital market services (and a global business platform) but also provides onshore clients with valuable cross-border capital market services (aligned with the mainland China government’s policies and commercial intentions);
b) actively making use of Huatai Securities’ leading position, distribution network and customer base in mainland China;
c) integrating on a global basis across many jurisdictions and regions, a successful and fully integrated international financial platform with innovative financial services solutions.

Huatai International operates as a holding company for consolidating all of the group’s cross-border businesses and companies under one umbrella, offering a truly unified and international business platform. In recognition of such international strength, the renowned international rating agency Standard and Poor’s has assigned Huatai International a “BBB+” rating (for long term) and “A-2” (for short-term).

Responsibilities

Strategic Audit Management

• Audit Universe : Define and maintain the comprehensive model risk audit universe across the firm’s first line and second line of defense for model risk.
• Regular Planning : Design the risk-based regular model audit strategy.
• Regulatory Compliance : Ensure alignment with relevant regulatory standards on model risk management.
• Board Reporting : Present key model risk findings to the senior management.

Operational Oversight & Execution

• Model Ownership : Challenge model owner’s and model developer’s practice on the model governance process.
• Model Validation : Challenge model validation practice including assumptions, methodologies, technology, data integrity, procedures, documentations, model use, model life cycle management etc to ensure complete and accurate execution.
• Scope Coverage : Lead and execute complex model audit projects across the firm globally including pricing models, VaR, and Credit Risk models etc.
• Risk Identification : Detect hidden model governance gap and unmonitored model risk aspects.
• Recommendations : Provide independent assessment and recommendations to strengthen model risk management.
• Remediation Tracking : Track and independently verify management’s remediation of audit findings.

Team Leadership & Stakeholder Management

• People Leadership : Lead audit engagements and coach junior auditors and subject matter specialists.
• Project Management : Lead the delivery and execution of model audit plan. As Auditor-in-Charge to direct and supervise audit teams from inception to completion including planning, testing, issue identification, workpaper review and reporting. Provide support in preparation of management reports and regulatory presentation in English or Chinese.
• Resource Allocation : Identify and coordinate appropriate quantitative expertise required for assigned audits.
• Executive Liaison : Engage the Chief Risk Officer, head of model risk management, and business line heads as an independent assurance provider. Effectively communicate with stakeholders and audit senior management to clearly articulate audit strategy, testing results and corrective measures. Maintain constructive and professional working relationships with external auditors and regulators while preserving audit independence.

Qualifications

Experience & Education

• Track Record : 10+ years in quantitative risk management, model validation, or model audit in the banking and finance industry, or consulting companies, preferably in the second or third line of defense roles for model risk.
• Banking Expertise : Deep understanding of investment banking products, derivatives, trading and risk management systems.
• Academic Background : Master’s or PhD in Mathematics, Financial Engineering, Physics, Statistics, Computing, Economics or relevant numerical subject.

Technical Skills

• Model Mechanics : Mastery of stochastic calculus, Monte Carlo simulations, derivatives pricing models, market risk models, and credit risk models etc.
• Programming : Proficiency in quantitative coding languages like Python or C++.
• Regulatory Knowledge : Thorough grasp of global regulatory standards on model governance and model risk management frameworks. Demonstrate a deep understanding of internal audit techniques and audit principles as well as the ability to apply internal requirements.
• Communication Skills: Excellent communication, presentation and professional skills including the ability to interact effectively at all levels within the organization.