GROUP INTERNAL AUDIT – Audit Manager, Model Risk
Global Internal Audit now has opportunities with the option of being located in Edinburgh, Birmingham, Paris, or Krakow for ambitious individuals with strong modelling skills and good commercial awareness. Successful candidates will have specific knowledge and experience in market, credit, insurance or business risk; but will also need to use their general quantitative expertise to assess design robustness and operational performance of a variety of models across business lines.
This role provides an excellent and unique opportunity both to gain exposure to a wide range of models and other quantitative techniques employed across the banking and insurance businesses as well as to work with a highly motivated team of skilled and experienced audit and analytics specialists within the supportive structure of Group Internal Audit, where career development is a high priority.
Experience in Internal Audit would be desirable but not essential.
An Audit Manager in the Model Risk team is expected to undertake rigorous formal audits of all aspects of model development, implementation and usage in order to provide independent, objective assurance over the Group's internal model risk control framework and to assist business line managers by bringing a systematic, disciplined approach to the evaluation and improvement of risk management, control and governance.
The role has the following specific requirements:
Understand the Group strategy and business objectives to focus Internal Audit's work on the highest risks.
· Develop deep knowledge and understanding of various business lines' strategies and operations in order to focus audit work on the highest risks, to assess and guide business lines effectively.
· Possess and further develop in-depth business and market knowledge in one or more specific areas and baseline knowledge across a broad range of businesses.
· Understand key risks and controls in financial services, in particular those associated with models.
Help deliver the annual audit plan.
· Assist in the development of the annual audit plan and support the plan delivery.
· Provide quantitative support for assessment of model design, validation and related processes.
· Review and submit audit reports or conclusions for each audit conducted or supported.
· Enhance operational effectiveness, customer service quality and efficient use of resources.
· Execute risk-based audits by utilising the appropriate audit methodology.
· Deliver and document audit work to high prescribed standards and within committed timelines.
· Communicate audit processes, requirements and results clearly and concisely.
· Create reports that accurately reflect the audit findings and audit working papers.
· Participate in risk assessments and audit closure meetings, as necessary.
· Undertake up to 25% business travel as required.
Build and manage stakeholder relationships throughout the audit process in support of the business.
· Understand impact of audit work on the business (e.g., consequences of legal compliance findings).
· Ensure that business managers understand the corrective actions to be taken.
· Manage and build stakeholder relationships during audits to enhance effective influence.
· Monitor progress and resolution of outstanding issues on a regular basis.
· Identify existing and emerging business risks and deliver timely and proactive recommendations.
Work as part of a team and actively develop the team and one's self.
· Support the development of an effective team.
· Champion and embed best practice management and administrative procedures in own area.
· Develop own skillsets and competencies through continuous training and reflection and by soliciting open feed-back from peers and managers.
· Actively seek out new opportunities where Audit can add value.
· Delivery with a shared sense of ownership, cultivating an environment that reflects HSBC values (Dependable, Open, and Connected).
· Share knowledge freely among the team; coach and mentor other team members as necessary.
· Continuously build up personal audit capability and business/specialist knowledge, utilizing them for the benefit of the practice and applying them commercially.
· Complete other responsibilities, as assigned.