Auditor - Business Audit (Credit Model Audit)

Societe Generale Global Solution Centre; Bengaluru; On-site; INR 3,000,000 - 4,200,000; Full time

Job summary

Societe Generale Global Solution Centre in Bengaluru seeks an experienced audit professional specializing in model risk, regulatory capital, and related financial models. You will contribute to planning, testing, reporting, and closure of recommendations under guidance, with onshore travel as needed.

The candidate should have CA/MBA Finance with 6-9 years of FRM/CFA or comparable advanced quantitative degrees, and strong knowledge of PD/LGD, IRB/IRBB, Basel II/III.

Qualifications

• Execute audits in accordance with professional standards.
• Assist audit management in preparation and execution of the audit plan.
• Prepare audit work programs and identify risks to be evaluated.
• Evaluate internal controls and test processes.
• Assess remediation of regulator and audit issues.
• Communicate audit results clearly to management.

Responsibilities

• Execute audits in accordance with professional standards.
• Assist audit management in preparation & execution of the audit plan.
• Prepares Audit work program and understands the specific risks to be evaluated.
• Performs evaluation of internal controls, testing of processes.
• Performs tests on the effectiveness of the Internal control environment within SG.
• Maintains clear work papers and audit trail of the work done in the appropriate tool.
• Write formal & clear reports to communicate audit results to management.
• Makes appropriate recommendations to improve SG processes.

Skills

Regulatory capital models

Pricing models

Stress testing

Loss forecasting

PD/LGD modelling

Data analytics

Programming languages (R)

Programming languages (SAS)

Programming languages (MATLAB)

Programming languages (Java)

Programming languages (C++)

Basel II/IRB/IRBB knowledge

Education

CA or MBA Finance with FRM/CFA or Masters/Ph.D. in quantitative field

Tools

R

SAS

MATLAB

Java

C++

Job description

• Being a contributor to the audit life cycle from planning to testing, reporting and closure of recommendation under the guidance of the Head of Mission/Senior Auditors, he assists audit management in execution of Audit plan. The audit work performed should comply with prescribed quality and timelines. Shared services missions may involve onshore travel.
• The Auditor should be able to provide sufficienet interventions and autonomously missions focus on:
• methodologies for calculating capital requirements for Basel models 2 through IRBA processes
• the models for the granting of consumer credit used in retail banking.
• the valuation models of accounting provisions in accordance with IFRS 9
• the methodologies used for risk management,
• models for the valuation of derivatives used in corporate and investment banking,
• liquidity and IRBB models used in ALM,
• Actuarial models used in insurance
• Interact with various lines of business and control functions to understand relevant aspects of model development, validation, governance, and use.
• Evaluate model documentation / validation reports and document results
• Conduct Internal control reviews on behalf of the corporation to identify financial risks, controls to mitigate the risks and assess the control environment of each significant business process.
• Assess the remediation of regulator and audit identified issues
• Responsible for working independently on complex model audit
• Assess inherent, control and residual risks with expertise in modeling practices, techniques, and validation processes as well as risk management strategies and data analytics.
• Maintains clear work papers and audit trail of the work done in the audit workflow tool, in accordance with the prescribed methodology.
• Makes appropriate recommendations to improve SG processes.
• Follow-up recommendations issued timely and escape when needed.
• Develop stakeholder management skills as a part of Continuous audit monitoring.
• Ensure effective and efficient execution of audits in conformance with professional and departmental standards, budgets, and timelines.
• Research relevant banking, regulation, risk management, and operational topics.
  

Responsibilities

• Being a contributor to the audit life cycle from planning to testing, reporting and closure of recommendation under the guidance of the Head of Mission/Senior Auditors, he assists audit management in execution of Audit plan. The audit work performed should comply with prescribed quality and timelines. Shared services missions may involve onshore travel.
• The Auditor should be able to provide sufficienet interventions and autonomously missions focus on:
• methodologies for calculating capital requirements for Basel models 2 through IRBA processes
• the models for the granting of consumer credit used in retail banking.
• the valuation models of accounting provisions in accordance with IFRS 9
• the methodologies used for risk management,
• models for the valuation of derivatives used in corporate and investment banking,
• liquidity and IRBB models used in ALM,
• Actuarial models used in insurance
• Interact with various lines of business and control functions to understand relevant aspects of model development, validation, governance, and use.
• Evaluate model documentation / validation reports and document results
• Conduct Internal control reviews on behalf of the corporation to identify financial risks, controls to mitigate the risks and assess the control environment of each significant business process.
• Assess the remediation of regulator and audit identified issues
• Responsible for working independently on complex model audit
• Assess inherent, control and residual risks with expertise in modeling practices, techniques, and validation processes as well as risk management strategies and data analytics.
• Maintains clear work papers and audit trail of the work done in the audit workflow tool, in accordance with the prescribed methodology.
• Makes appropriate recommendations to improve SG processes.
• Follow-up recommendations issued timely and escape when needed.
• Develop stakeholder management skills as a part of Continuous audit monitoring.
• Ensure effective and efficient execution of audits in conformance with professional and departmental standards, budgets, and timelines.
• Research relevant banking, regulation, risk management, and operational topics.
  

Required

Profile required

CA/MBA Finance with 6-9 years of experience in FRM, CFA, Master's or Ph.D. in a quantitative discipline such as mathematics, statistics, operations research, physics, or economics.

• Execute all audits in accordance with professional standards.
• Assists audit management in preparation & execution of the audit plan
• Prepares Audit work program and understands the specific risks to be evaluated.
• Performs evaluation of internal controls, testing of processes
• Perform tests on the effectiveness of the Internal control environment within SG.
• Maintains clear work papers and audit trail of the work done in the appropriate tool
• Write formal & clear reports to communicate audit results to management
• Makes appropriate recommendations to improve SG processes
• Timely issuance of the audit reports
• Follow-up recommendations issued timely and escape when needed
• Acquire knowledge on activities and risks during assignments and via trainings
  

Technical skills:

• Experience with regulatory capital models, pricing models, stress testing, and loss forecasting models including some of the following: stochastic calculus, finite difference methods, Monte Carlo simulation, etc.
• Good understanding of financial markets.
• Experience in one of R, SAS, C++, MatLab, Java (Desirable).
• Knowledge and experience of risk, modeling, and capital management requirements and processes.
• Expertise in development or Validation of Credit risk models such as PD and LGD in the context of regulatory framework.
• Understanding of risk frameworks like Basel II – (A-IRB and IRRBB), Basel III - Liquidity Ratios, stress testing, etc.
  

Functional skills:

• Good understanding of Audit lifecycle from planning to closure of recommendations. Prior experience of performing controls testing and working with fair amount of autonomy.
• Sound understanding of Risk based audit methodology, risk assessment and audit planning.
• Produce good quality statement of findings and ability to synthesis clear and concise thematic opinions.
• Ability to work on multi location/global audit with large and diverse teams
• Ability to work well with and communicate with others, from teammates to executives, and to present findings to upper level management and executives. Ability to manage multiple work efforts and to quickly change direction as needed..
• Sound understanding/exposure on quality initiatives within audit function.
• Fluent Command over English language (oral as well as written)
• Knowledge of Data Analytics would be an added advantage
• Behavioural skills:
• Result Orientation and time management
• Client Focus
• Contribution to Strategy
• People Development
• Change management
• Cooperation
• Team Leadership
• Ability to work with diverse teams/Team player
• Conflict management
  

Why join us

“We are committed to creating a diverse environment and are proud to be an equal opportunity employer. All qualified applicants receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status"

Business insight

At Société Générale, we are convinced that people are drivers of change, and that the world of tomorrow will be shaped by all their initiatives, from the smallest to the most ambitious. Whether you’re joining us for a period of months, years or your entire career, together we can have a positive impact on the future. Creating, daring, innovating, and taking action are part of our DNA. If you too want to be directly involved, grow in a stimulating and caring environment, feel useful on a daily basis and develop or strengthen your expertise, you will feel right at home with us!
Still hesitating? You should know that our employees can dedicate several days per year to solidarity actions during their working hours, including sponsoring people struggling with their orientation or professional integration, participating in the financial education of young apprentices, and sharing their skills with charities. There are many ways to get involved.
We are committed to support accelerating our Group’s ESG strategy by implementing ESG principles in all our activities and policies. They are translated in our business activity (ESG assessment, reporting, project management or IT activities), our work environment and in our responsible practices for environment protection.