Audit jobs in South Africa

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The role entails the validation of models (Market risk and Treasury Risk), focusing on identifying, mitigating and monitoring of key model risks. You will conduct validations on a diverse range of AGL models, mainly traded market risk models, produce validation reports, negotiate the findings & actions with internal & external stakeholders and influence the continuous improvement of model quality & use. These areas make use of a wide range of models (Regulatory Capital, Economic Capital, pricing, behavioural, application, stress‑testing, valuation, derivatives, ML/AI models, etc.) and cover products used across all AGL’s business units. Opportunities to gain experience across validation teamsغان within the greater Model Risk team are possible and encouraged by management.

• Obtain the required model documentation from the model developer and model owner. Ensure that the documentation is sufficiently detailed to allow a qualified independent party to replicate the model, understand its business scope and use, explain the main model assumptions and limitations, describe the tests performed by business, highlight the various stakeholders and any model monitoring approaches.
• Ensure that business provides IVU with a testable implementation of the model. Confirm that you can run the model and produce the model outputs outlined in the model documentation.
• Review the documentation and schlafen provide business with any initial concerns and identify any significant validation requirements that might delay the validation process (such as the build of challenger models).
• Discuss estimated timelines with business and line manager.
• Record the various stakeholders and model details in the Group Models Database (GMD). The model status at this point will be submitted.
• Assess the الأخرى accuracy and appropriateness of the data used.
• Review the design and theoretical soundness of the model. Assess if this is applicable for the specified model scope and use.
• Confirm that the model was implemented according to the model documentation.
• Review the model monitoring results or the appropriateness of the intended monitoring approach.
• Assess the model against internal policies and standards as well as any regulatory requirements.
• Identify any model limitations or shortcomings that will negatively impact the outputs of the models. Ensure that these are identified early in the validation process and discuss with business to ensure that your concerns are valid.
• Recommend any remedial actions to compensate for any identified model shortcomings during the validation process. Assign a level of significance/of the findings.
• Ensure quality and timeous delivery of the scheduled validations and that validation documentation is in line with the requirements outlined in the validation standard.
• Submit validation report for line manager review and sign‑off.
• Arrange business meeting to discuss validationamot report with various stakeholders.
• Submit validation report to Model Approver. Attend model approval committees if required and present validation findings to committee.
• Update the GMD model entry to ensure that the model is compliant with the BAGL GMD Standard. Obtain Model Owner sign‑off.
• Plan periodic validations of models and ensure that you obtain the required model information well in advance. Follow up with business around annual model reviews and elevate where necessary.

• Maintain a professional relationship with all stakeholders. These include, but are not limited to, Model Owners, Model Developers, Model Approvers and Audit.
• Effective communication of model validation findings to all stakeholders.
• Ensure that all concerns are communicated as early as possible and that these concerns are relevant and material.
• Provide sufficient and constructive challenge to proposed concepts and ideas.
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