Audit Director - Model Risk

Madison-Davis; Charlotte (NC); On-site; USD 150,000 - 230,000; Full time

Job summary

Madison-Davis, LLC is seeking an experienced Audit Director to lead model risk audit coverage across the organization. The role focuses on evaluating model risk management frameworks, AI governance, CCAR model controls, and regulatory compliance with stakeholders, risk management teams, and senior leadership.

The ideal candidate will bring deep expertise in model risk governance, regulatory expectations, and audit execution within complex banking or financial services environments.

Qualifications

• Advanced degree in finance, mathematics, data science, or related field.
• 7+ years in Model Risk Audit, Internal Audit, or related risk functions.
• 4+ years of hands-on audit in banking or financial services.
• Deep knowledge of model risk frameworks and governance.
• Experience auditing CCAR models and stress testing.
• Understanding SR 11-7, SR 26-2 guidance.
• Experience evaluating AI model governance.
• Strong communication to senior stakeholders.
• Ability to work independently with cross-functional teams.
• Experience in banking/capital markets preferred.

Responsibilities

• Lead audits of model risk management and governance across the organization.
• Evaluate design and effectiveness of controls for model development and validation.
• Direct audits from planning to reporting, including risk assessments and issue tracking.
• Assess regulatory compliance related to model risk management.
• Review CCAR governance, controls, docs, and reporting.
• Support continuous monitoring and risk assessments.
• Identify weaknesses and process improvement opportunities.
• Present findings to senior management and regulators.
• Contribute to expanding model risk audit coverage.
• Mentor junior auditors and support team development.

Skills

Advanced degree in Finance/Math/Stats

Model risk governance

Audit leadership

CCAR and stress testing

Regulatory knowledge SR 11-7 SR 26-2

AI governance experience

Communication to senior stakeholders

Independent cross-functional work

Education

Master's or Ph.D. in quantitative field

Job description

ABOUT THE ROLE

A global financial institution is seeking an experienced Audit Director to lead model risk audit coverage across the organization.

This role focuses on evaluating model risk management frameworks, AI governance, CCAR model controls, and regulatory compliance while partnering closely with business stakeholders, risk management teams, and senior leadership.

The ideal candidate will bring deep expertise in model risk governance, regulatory expectations, and audit execution within complex banking or financial services environments.

RESPONSIBILITIES

• Lead audits covering model risk management, model governance, AI risk frameworks, and quantitative risk processes
• Evaluate the design and effectiveness of controls supporting model development, validation, implementation, monitoring, and governance
• Direct audits from planning through reporting, including risk assessments, testing, issue identification, workpaper review, and report preparation
• Assess compliance with regulatory guidance related to model risk management and governance frameworks
• Review CCAR model governance, controls, documentation, and reporting processes
• Support continuous monitoring activities and risk assessments across model risk and quantitative risk functions
• Identify control weaknesses, governance gaps, and opportunities for process improvement
• Communicate audit findings and recommendations to senior management, regulators, and business stakeholders
• Assist with regulatory presentations, audit reporting, and strategic audit initiatives
• Contribute to the development and expansion of model risk audit coverage and methodologies
• Mentor junior audit staff and support audit team development

QUALIFICATIONS

• Advanced degree (Master's or Ph.D.) in Finance, Mathematics, Statistics, Data Science, Engineering, Economics, or another quantitative discipline
• 7+ years of experience in Model Risk Audit, Internal Audit, Model Risk Management, Model Validation, or related quantitative risk functions
• Minimum 4 years of hands-on audit experience within banking, financial services, or consulting environments
• Strong knowledge of model risk management frameworks and governance practices
• Experience auditing or overseeing CCAR models, stress testing frameworks, and model governance controls
• Deep understanding of SR 11-7, SR 26-2, and related model risk regulatory guidance
• Experience evaluating AI model governance, controls, and risk management frameworks preferred
• Strong understanding of internal audit methodologies, risk assessments, controls testing, and workpaper standards
• Excellent written and verbal communication skills with the ability to present complex technical topics to senior stakeholders
• Ability to work independently while collaborating across audit, risk, compliance, and business functions
• Experience within banking, capital markets, or large financial institutions strongly preferred
• Professional certifications such as FRM, CFA, CIA, CISA, or related credentials are a plus