Director of Internal Audit (Banking Risk Assessment & Model Risk Management)

Turn2Partners; New York (NY); Hybride; USD 180 000 - 260 000; Plein temps

Résumé du poste

Turn2Partners in New York City is seeking an experienced Internal Audit Senior Manager/Director for a high-priority banking engagement. The role focuses on internal audit risk assessments, enterprise risk evaluations, and Model Risk Management audits within banking environments. Hybrid work in NYC with immediate interviews and start, demanding senior leadership communication and strong regulatory knowledge.

Qualifications

• Extensive hands-on experience conducting internal audit risk assessments in banking.
• Experience evaluating ERM frameworks and enterprise risk governance.
• Experience auditing Model Risk Management programs including SR 11-7.
• Strong ability to lead multiple audit workstreams.
• Excellent communication with senior leadership.

Responsabilités

• Lead and execute internal audit risk assessments across banking lines, operations, and control functions.
• Evaluate the internal audit universe to identify significant risks and audit coverage.
• Assess inherent and residual risks, control environments, and mitigation effectiveness.
• Develop and enhance risk-based internal audit plans aligned with regulatory expectations.
• Evaluate risk assessment methodologies, audit coverage, and prioritization approaches.
• Identify gaps in risk identification, control design, and audit coverage.
• Prepare risk assessment documentation and remediation recommendations for senior audit leadership.
• Conduct enterprise-wide risk assessments across banking operations and risk categories.
• Evaluate ERM frameworks, governance structures, and risk appetite.
• Assess risk indicators, escalation processes, and governance effectiveness.
• Review enterprise-level controls and risk mitigation strategies.
• Identify weaknesses in risk governance and oversight.
• Develop recommendations to strengthen risk management practices.
• Lead or execute auditing of Model Risk Management programs and governance.

Connaissances

Internal audit expertise

Banking industry knowledge

Model Risk Management

SR 11-7 knowledge

Regulatory compliance

Risk assessment

Formation

Bachelor's degree in Accounting/Finance/Business

Description du poste

New York City | Hybrid | Immediate Interviews & Start

Location: New York City, NY

Work Arrangement: Hybrid – Remote and Onsite

Experience: 8-10+ Years

Start Date: ASAP – Immediate Availability Preferred

Position Overview

We are seeking an experienced Internal Audit Senior Manager / Director to support a high-priority banking engagement in New York City.

The ideal candidate will bring extensive, hands-on experience across three critical areas:

• Internal Audit Risk Assessments – Conducting comprehensive audit risk assessments, evaluating audit universes, identifying emerging risks, and developing risk-based audit plans within banking institutions.
• Enterprise Risk Assessments – Performing enterprise-wide risk assessments, evaluating risk management frameworks, assessing inherent and residual risk exposures, and identifying weaknesses in enterprise risk governance and internal controls.
• Model Risk Management (MRM) – Leading or executing internal audits of banking model risk management frameworks, including model governance, validation oversight, model inventories, ongoing monitoring, and regulatory compliance with guidance such as SR 11-7.

This position requires a seasoned banking internal audit professional who can independently execute complex risk assessments, evaluate risk and control frameworks, identify gaps, and communicate findings to senior leadership.

In addition to these core competencies, candidates should bring experience in internal audit quality assurance and banking regulatory compliance, including commercial lending, deposit operations, BSA/AML, and OFAC.

We are specifically prioritizing candidates who have directly performed or led internal audit risk assessments, enterprise risk assessments, and MRM-related audits within banking environments. General risk management or regulatory compliance exposure alone will not satisfy the core requirements.

Key Responsibilities

Internal Audit Risk Assessments & Risk-Based Audit Planning

• Lead and execute comprehensive internal audit risk assessments across banking business lines, operations, and control functions.
• Evaluate the internal audit universe to identify significant risks, emerging exposures, and areas requiring audit coverage.
• Assess inherent and residual risks, control environments, and the effectiveness of risk mitigation strategies.
• Develop and enhance risk-based internal audit plans aligned with organizational priorities and regulatory expectations.
• Evaluate risk assessment methodologies, audit coverage, and prioritization approaches.
• Identify gaps in risk identification, control effectiveness, and audit coverage.
• Prepare risk assessment documentation, management reporting, and recommendations for senior audit leadership.
• Conduct enterprise-wide risk assessments across banking operations, business functions, and risk categories.
• Evaluate enterprise risk management (ERM) frameworks, governance structures, and risk assessment methodologies.
• Assess risk identification, measurement, aggregation, monitoring, and reporting practices.
• Evaluate risk appetite frameworks, risk tolerance thresholds, key risk indicators, and escalation processes.
• Review the effectiveness of enterprise-level controls and risk mitigation strategies.
• Identify weaknesses in risk governance, control design, and enterprise risk oversight.
• Develop recommendations to strengthen risk management practices and overall organizational resilience.
• Lead or execute internal audit reviews of banking Model Risk Management programs and frameworks.
• Evaluate model risk governance, model inventories, model lifecycle management, and related policies and procedures.
• Assess model validation frameworks, independent validation oversight, ongoing performance monitoring, and model change management controls.
• Review the effectiveness of controls surrounding model development, implementation, use, and monitoring.
• Evaluate alignment with applicable banking regulatory expectations, including Federal Reserve SR 11-7 guidance.
• Identify deficiencies in model risk governance, validation processes, and oversight mechanisms.
• Document audit findings and recommend remediation strategies to strengthen MRM control environments.

Internal Audit Quality Assurance & Methodology

• Conduct quality assurance reviews of internal audit engagements, workpapers, testing procedures, and supporting documentation.
• Evaluate audit methodologies and adherence to established internal audit standards.
• Assess the quality and completeness of risk assessments, audit planning, testing, and reporting.
• Identify opportunities to strengthen audit execution, documentation, and quality assurance processes.
• Support continuous improvement of internal audit frameworks and methodologies.

Banking Regulatory Compliance & Operational Audits

• Conduct or oversee internal audits of banking regulatory compliance programs and operational processes.
• Evaluate internal controls related to commercial lending and deposit operations.
• Assess compliance with applicable banking regulations and internal policies.
• Review BSA/AML and OFAC compliance programs, including transaction monitoring, customer due diligence, sanctions screening, and related controls.
• Identify regulatory compliance gaps, control weaknesses, and opportunities for remediation.
• Support regulatory examination readiness and remediation validation activities.

Audit Reporting & Senior Stakeholder Engagement

• Prepare comprehensive audit reports outlining findings, risk implications, root causes, and remediation recommendations.
• Present risk assessment results and audit findings to senior management and relevant stakeholders.
• Collaborate with internal audit, enterprise risk, compliance, and business leadership.
• Evaluate corrective action plans and validate the effectiveness of remediation activities.
• Independently manage multiple audit workstreams while maintaining high standards of quality and accuracy.

Required Qualifications

• Bachelor's degree in Accounting, Finance, Business, or a related discipline.
• 10+ years of progressive experience in banking internal audit, financial services risk advisory, or related audit and risk management functions.
• Prior experience at the Senior Manager, Director, Vice President, or equivalent level, leading complex banking internal audit engagements.

Demonstrated hands-on experience in all three core areas is essential:

1. Internal Audit Risk Assessments

• Direct experience conducting internal audit risk assessments within banking institutions.
• Experience assessing audit universes, evaluating inherent and residual risks, and developing risk-based audit plans.
• Ability to independently assess risk exposures and determine appropriate audit coverage.
• Direct experience conducting enterprise-wide risk assessments within banking environments.
• Experience evaluating ERM frameworks, enterprise risk governance, risk appetite, and risk assessment methodologies.
• Ability to assess enterprise-level risk exposures and the effectiveness of risk management practices.
• Direct experience conducting or leading internal audits of Model Risk Management frameworks within banking institutions.
• Knowledge of model governance, model validation oversight, model inventories, and model risk controls.
• Familiarity with regulatory expectations related to MRM, including SR 11-7.

Additional Requirements

• Experience with internal audit quality assurance, audit methodology reviews, and internal control assessments.
• Knowledge of banking regulatory compliance and internal controls related to commercial lending and deposit operations.
• Experience auditing BSA/AML and OFAC compliance programs.
• Strong understanding of risk-based auditing methodologies, banking regulatory expectations, and internal control frameworks.
• Ability to independently execute audit engagements and deliver high-quality work with minimal supervision.
• Excellent analytical, documentation, communication, and senior stakeholder management skills.
• Ability to work a hybrid schedule in New York City.
• Availability to interview and begin the engagement as soon as possible.

Preferred Qualifications

• Professional certifications such as CIA, CPA, CISA, CRCM, or CAMS.
• Experience within a U.S. commercial bank, regional bank, global bank, or major financial institution.
• Previous experience with Big Four public accounting or financial services risk advisory firms, including PwC, Deloitte, EY, or KPMG.
• Experience leading enterprise-wide audit risk assessment and annual audit planning initiatives.
• Familiarity with IIA Global Internal Audit Standards, COSO, and the three lines of defense model.
• Knowledge of OCC, FDIC, Federal Reserve, and FFIEC regulatory guidance.
• Experience with regulatory examinations, audit remediation, and internal audit quality assurance programs.
• Strong executive-level reporting and communication capabilities.

Ideal Candidate Profile

The strongest candidate will be a seasoned banking internal audit professional with 10–15+ years of experience and a proven track record of independently conducting or leading:

• Internal audit risk assessments, including audit universe evaluations and risk-based audit planning.
• Enterprise risk assessments, including ERM framework evaluations, enterprise risk governance, and risk appetite assessments.
• Model Risk Management audits, including model governance, validation oversight, and SR 11-7 regulatory expectations.

Candidates should also have experience with internal audit quality assurance and broader banking regulatory compliance audits, including commercial lending, deposit operations, BSA/AML, and OFAC.

Relevant professional backgrounds include:

• Internal Audit Director – Banking
• Senior Internal Audit Manager
• Director, Internal Audit Risk Assessment
• VP, Internal Audit
• Director, Risk-Based Audit Planning
• Financial Services Internal Audit Senior Manager

We are seeking candidates with demonstrated execution experience across all three priority areas, not simply general oversight or exposure to enterprise risk management and banking compliance programs.

Why Consider This Opportunity?

• Immediate interview process and expedited start.
• Opportunity to leverage specialized expertise in internal audit risk assessments, enterprise risk assessments, and Model Risk Management.
• Direct involvement in high-priority banking risk and audit initiatives.