Senior Auditor Senior Auditor …

in Boston, MA, United States
Permanent, Full time
Be the first to apply
in Boston, MA, United States
Permanent, Full time
Be the first to apply
Senior Auditor

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Sr. Auditor, Modeling Req ID: 2000878 Date posted 02/21/2020 Sr. Auditor, Modeling - 2000878 Description

The primary function of the Sr. Model Auditor is to execute complex audit testing as part of internal audit reviews and activities surrounding model Risk.  Serve as model risk subject matter resource for other audit teams and provide quantitative modeling consultation to audit and non-audit stakeholders across all levels of the organization.

  • Conduct model development, validation, and implementation testing across different types of complex models including credit, liquidity, valuation, and market risk models.
  • Review and provide feedback to model stakeholders on proposed remediation of identified model issues.
  • Communicate audit findings to senior management of model development, validation, and governance groups.
  • Perform objective evaluations of the adequacy, sufficiency and suitability of the Bank's quantitative model development, validation, performance monitoring, and internal and governance controls.
  • Tests model development and model validation processes as per the Supervisory Guidance on Model Risk Management and the Bank’s Model Risk Management policies, standards, and procedures.
  • Use guidance provided by industry standards (i.e., Basel, Federal Reserve) and Bank policies and procedures to ensure quantitative methodologies used for models both for business as usual and stress testing purposes are consistent with best practices.
  • Conducts post-audit higher complexity follow-up tasks to appraise adequacy of corrective action taken by management to address audit recommendations.

To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • At least 1-3 years of model development, validation or other quantitative experience.
  • Education; Bachelor’s Degree in Finance, Mathematics, or other quantitative discipline
  • Analytical and problem solving skills as well as the ability to work independently.
  • Demonstrated knowledge of statistical modeling approach
  • Technology and computer skills, with the ability to effectively use Microsoft Office (Word, Excel, Outlook, Powerpoint) and programing languages including: SAS, R and/or Python
  • Effective negotiation skills, and a proactive approach in communicating issues, while maintaining independent views.  This individual must be an articulate and effective communicator, both orally and in writing, with an energetic and approachable style.
  • Detail oriented with organizational skills, verbal and written communication skills.
  • Creates a good working environment in the team; works towards shared goals contributing ideas and accepting change
  • Provides assistance and coaches less experienced team members
  • Displays initiative, flexibility and focus to get things done
  • Actively contributes ideas, suggestions, and constructive comments in meetings and discussions
  • Communicates in a timely and straightforward manner
  • Probes for additional information, clarifies assumptions and confirms agreed-upon actions
  • Keeps everyone involved informed about progress and issues
  • Adapts quickly to change and makes suggestions for increasing the effectiveness of change
  • Appropriately shifts attention and refocuses on new goals as a result of changes in priorities or competing work demands
  • Identifies the component parts of a complex situation or problem and the relationship among variables that are not obvious
  • Probes in-depth to understand the customer’s business needs, explores and understands the customer's alternatives and decision criteria
  • Knowledge of Risk Management Policies, Regulations, Processes and Procedures
  • Executes risk management process and procedures without management direction, and demonstrates awareness of expected results
  • Knows the relationship and impact of actions and results
  • Has an understanding of regulations impacting area supported
  • Stays current with industry and regulatory trends and emerging risk issues, has good understanding of current market and competitive landscape that the organization operates within
Job : Business Audit Primary Location : Massachusetts-BOSTON-75 State Street - 06366 - State Street-Corp Organization: Internal Audit (8880) Schedule : Full-time Job Posting : Feb 20, 2020, 9:35:09 PM
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  • Audit, Boston, Massachusetts, United States
  • Santander Bank or NYB/SIS Employees, Boston, Massachusetts, United States
  • Internal Audit & Credit Risk Review, Boston, Massachusetts, United States

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