Senior Audit Manager, Model Risk @ RBC
Job SummaryJob DescriptionWhat is the opportunity? RBC's Internal Audit department is hiring a Senior Manager within the Model Risk Audit Team to support US Operations. You will provide an independent and objective assessment of the effectiveness of Model Risk practices within the first and second line of defense across RBC. This includes assessing the effectiveness of internal controls throughout the model lifecycle; identification, development, documentation, validation, implementation, and performance monitoring & use. You will also contribute to the assessment of the effectiveness of model risk management practices with focus on AML, Credit Risk, Artificial Intelligence & Machine Learning (AI/ML), Stress Testing, Valuation, Market Risk, Liquidity Risk and Counterparty Credit Risk models.What will you do?Contribute to the development of a risk-based multi-year approach to the audit of Model Risk Management within RBC.Through in-depth understanding of the business including changes to the regulatory and business environments, develop model audit programs to ensure effective control solutions are implemented.Contribute to effective continuous risk monitoring and continuous assurance on overall Model Risk Management controls.Provide input on the assessment of the effectiveness of model development and model validation activities; including quality of supporting documentation, modelling methodologies, margins of conservatism, parameter choices, testing and the wide range of other modelling decisions that are made.Plan and execute technical audit engagements related to a broad range of models including those used in AML, capital markets, market risk, credit risk, regulatory capital, IFRS 9/CECL, CCAR, stress testing, AI/ML, finance, insurance and treasuryContinually develop working relationship with business stakeholders to become a trusted advisor.What do you need to succeed?Must-Haves: 5-7 years of internal audit experience with at least 3 years dedicated to model riskA strong track record of having validated and/or developed any of the following model types: AML, Market Risk, Credit Risk, Data Science AI/ML, Capital Risk, Treasury (Interest rate…
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