Audit Manager - Model Risk

Sumitomo Mitsui Financial Group Inc.; Jersey City (NJ); On-site; USD 145,000 - 185,000; Full time

Job summary

An established industry player is seeking an experienced Audit Manager specializing in Model Risk. This pivotal role involves leading internal audits, ensuring compliance with IIA standards, and managing audit teams. The ideal candidate will possess extensive experience in the banking and finance sector, with a strong understanding of modeling techniques and regulatory standards. Join a dynamic team that values collaboration and innovation, and contribute to the continuous improvement of audit processes. This opportunity offers a competitive salary and a hybrid work environment, allowing you to balance professional and personal commitments.

Qualifications

• Minimum of 8 years internal audit experience in banking and finance.
• Strong knowledge of banking/capital markets products and modeling techniques.

Responsibilities

• Direct and supervise audits from inception to completion.
• Manage audit teams to execute high-quality reviews within deadlines.

Skills

Internal Audit Experience

Banking and Finance Knowledge

Modeling Techniques

Regulatory Standards Understanding

Audit Techniques

Communication Skills

Education

Bachelor’s Degree in Accounting

Finance or Related Quantitative Field

Job description

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SMBC Group is a top-tier global financial group. Headquartered in Tokyo and with a 400-year history, SMBC Group offers a diverse range of financial services, including banking, leasing, securities, credit cards, and consumer finance. The Group has more than 130 offices and 80,000 employees worldwide in nearly 40 countries. Sumitomo Mitsui Financial Group, Inc. (SMFG) is the holding company of SMBC Group, which is one of the three largest banking groups in Japan. SMFG’s shares trade on the Tokyo, Nagoya, and New York (NYSE: SMFG) stock exchanges.

In the Americas, SMBC Group has a presence in the US, Canada, Mexico, Brazil, Chile, Colombia, and Peru. Backed by the capital strength of SMBC Group and the value of its relationships in Asia, the Group offers a range of commercial and investment banking services to its corporate, institutional, and municipal clients. It connects a diverse client base to local markets and the organization’s extensive global network. The Group’s operating companies in the Americas include Sumitomo Mitsui Banking Corp. (SMBC), SMBC Nikko Securities America, Inc., SMBC Capital Markets, Inc., SMBC MANUBANK, JRI America, Inc., SMBC Leasing and Finance, Inc., Banco Sumitomo Mitsui Brasileiro S.A., and Sumitomo Mitsui Finance and Leasing Co., Ltd.

The anticipated salary range for this role is between $145,000.00 and $185,000.00. The specific salary offered to an applicant will be based on their individual qualifications, experiences, and an analysis of the current compensation paid in their geography and the market for similar roles at the time of hire. The role may also be eligible for an annual discretionary incentive award. In addition to cash compensation, SMBC offers a competitive portfolio of benefits to its employees.

Role Description

SMBC is seeking an experienced Model Risk Audit Manager with a minimum of 8 years’ experience in the banking & finance industry to work within the Internal Audit Department.

The Audit Manager will design and supervise execution of internal audits of various complexities, ensuring audit work is performed in accordance with IIA standards and IAD policies and procedures, as well as participate as a team member on other audit engagements or projects.

Role Responsibilities

• Direct and supervise audit from inception to completion including planning, testing, issue identification, workpaper review and reporting.
• Manage audit teams to execute high quality reviews within a prescribed timeframe.
• Provide support, coaching, and feedback to audit team which may include internal or co-sourced internal audit professionals.
• Effectively communicate with stakeholder and audit senior management to clearly articulate audit strategy, testing results and corrective measures.
• As needed, assist with the delivery and execution of IAD's broader audit plan and assurance responsibilities.
• Participate in quarterly and annual continuous monitoring / risk assessment process to identify business trends and changes in the business risk profile.
• As needed, assist with special projects related to business process improvements or departmental strategic initiatives.
• Track and validate closure of issues raised by the department and regulators.
• Develop, promote and maintain a collaborative and strong working relationship with AD business heads, external auditors, and regulators.
  
  

Qualifications And Skills

• Minimum of 8 years internal audit experience in the banking and finance industry.
• Strong working knowledge of banking / capital markets products.
• Strong knowledge of modeling techniques with experience performing or reviewing model validations.
• Understanding of applicable regulatory standards (including Model Risk Management (SR 11-7)).
• Understanding of audit techniques, internal controls, and workpaper standards.
• Excellent communication, presentation and professional skills including the ability to interact effectively at all levels within the organization.
• Bachelor’s Degree in Accounting, Finance, or related quantitative field.
  
  

SMBC’s employees participate in a Hybrid workforce model that provides employees with an opportunity to work from home, as well as, from an SMBC office. SMBC requires that employees live within a reasonable commuting distance of their office location. Prospective candidates will learn more about their specific hybrid work schedule during their interview process. Hybrid work may not be permitted for certain roles, including, for example, certain FINRA-registered roles for which in-office attendance for the entire workweek is required.

SMBC provides reasonable accommodations during candidacy for applicants with disabilities consistent with applicable federal, state, and local law. If you need a reasonable accommodation during the application process, please let us know at [e-mail].

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Accounting/Auditing and Finance

• Industries

  Banking, Financial Services, and IT Services and IT Consulting

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