Audit Manager, Quantitative Audit
- London, England, United Kingdom
- Permanent, Full time
- 18 May 19
See job description for details
Join us in London as an Audit Manager, Quantitative Audit
- As Audit Manager, you'll play a significant part in mitigating risk in the use of pricing and valuation and related risk models across our customer franchises and support functions
- You'll be joining a quantitative audit team who are considered a 'critical friend' by the business, and who adopt a consultative role as a true business partner
- While you'll initially focus on controls over pricing and valuation models there will also be an opportunity to work across other model types
- You can expect a level of influence and exposure which is distinct in the marketplace for this type of role, and will have the chance to input to strategic decisions
What you'll do
This important, technical role will place you at the heart of the bank's third line of defence, providing independent, objective audit assurance on the risks associated with the inherent methodologies and the use of pricing and valuation models across a wide range of applications, such as with derivatives valuation, market risk, counterparty credit risk, credit risk operational risk initial and variation margin, stress testing and treasury.
You'll work with the Senior Audit Manager and business stakeholders to scope audits, formulate appropriate and robust testing plans before leading engagement execution.
You'll succeed in this role by:
- Developing a deep understanding of the risks associated with the development and use of pricing and valuation models and designing appropriate testing plans to assess the suitability of controls to manage these risks
- Applying quantitative expertise to design and deliver effective assignments, to follow up on the remediation of control weaknesses, and to contribute to annual audit planning and related audit opinions
- Leading your team through the engagement stages, effectively managing work and resources, setting standards of excellence and providing feedback
- Delivering often complex audits on time and to budget, and to an excellent standard
- Leading the production of high quality written reports which detail any issues identified
- Contributing to managing the discussion with key business stakeholders, leading to final issue acceptance and remediation
The skills you'll need
We're looking for someone with strong audit experience, preferably with experience of leading engagements. If you don't have experience leading audits you should be able to demonstrate how you've successfully led a team in delivering other kinds of complex projects while keeping a firm hand on budget, schedule and quality.
Excellent quantitative skills are essential, and we'll expect formal study in a quantitative field, preferably to PhD level. While not essential, other qualification such as FRM, CQF, and complimented by relevant substantial work experience would be desirable.
In addition to the pricing and valuation modelling skills and experience, we'll also expect:
- A working knowledge of financial markets, instruments, risk management techniques, ideally spanning multiple asset classes or model types
- A strong understanding of Mathematical Finance, Stochastic Calculus, Econometrics or Mathematical Statistics and their application in valuation or risk management across multiple asset classes and risk types
- An understanding of the regulatory requirements and developments relating to pricing and valuation models
- Strong interpersonal, verbal and written communication skills
- The ability to support and supervise your team through coaching, feedback and development, taking a proactive approach towards identifying and promoting talent
- Strong management stakeholder skills, and to be confident and clear when you need to challenge or influence
How we'll reward you
In return, we offer a competitive salary and you'll also join our retirement savings plan. You can also choose from a selection of protection, healthcare or lifestyle extras from RBSelect, our fully flexible reward programme.
Visit our reward and benefits page for more information on the benefit packages we offer.
At RBS, we want everyone to feel welcome, regardless of your background or needs. If you need adjustments making to your working environment, we'll do everything we can to support you. As part of this commitment, we offer flexible working options for some of our roles - find out more .