Principal Auditor Model Risk - London, United Kingdom - AMS Contingent

AMS Contingent

Verified Company

London, United Kingdom

3 weeks ago

Posted by:

Tom O´Connor

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Description

The Principal Auditor leads or works independently on audits of a specific business/functional area/region and evaluates the adequacy and effectiveness of internal controls relating to risks within those business areas.

Job Description We are AMS, a global total workforce solutions firm enabling organisations to thrive in an age of constant change by building, re-shaping, and optimising workforces. Our Contingent Workforce Solutions (CWS) service acts as an extension of our clients' recruitmentteam and provides professional interim solutions and temporary resources.

Our client, Deutsche Bank, is a global banking business with strong roots in Germany and operations in over 70 countries.

Their large but focused footprint gives them an established position in Europe plus a significant presence in the Americas and AsiaPacific.

Deutsche Bank offer their clients commercial and investment banking, retail banking and transaction banking as well as ground-breaking asset and wealth management products and services.

On behalf of Deutsche Bank, AMS are now looking for a Principle Auditor-Model Risk to support the US finance Risk Teamin their _Londonteam based on an initial 6 month contract on a PAYE basis.

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Overview of the role:

The US Finance Risk team is part of the Global Risk team within Group Audit (GA), which covers all risk types.

The role reports to the Principal Audit Manager who reports directly to the Chief Auditor for Global Risk.

The Models team covers all model risk across the DB Group.

Each Auditor in the Models team has expertise in one or more area of model risk, depending on their qualifications, experience and interests.

The following role summary applies but with a focus onmodel risk and controls:

As a Principle Auditor your Key responsibilities will be:

Executes day-to-day operational audit work and contributes to the delivery of audits (including risk assessment profiles and the Continuous Audit Assessment process)
Implements dynamic planning through Continuous Audit Assessment of the business.
Plans audits e.g., documenting activity flows of the processes to be reviewed, identifies risks and the key actual controls in place to mitigate the identified risks and attends meetings with internal stakeholders as and when required.
Executes audit fieldwork in line with the agreed audit approach which includes, among others, reviewing the Bank's risk governance framework of model risk management and meeting all compliance requirements, and reviewing the model risk management processfor all risk models.

This covers the inventory of models, validation reviews, remediation of findings and ongoing monitoring/reporting.

Reviews and provides expert opinions on action plans provided by clients, helping them develop robust remediation plans.
Presents complex and sensitive messages (such as audit issues) comprehensively and professionally and reduces complex topics to simple statements.
Participates in exit meetings, drafts high quality audit reports for review by audit management, facilitates issue tracking, validates the closure of issues and approves closure of Important issues.
Supporting not only the US Audit Risk team but also the Global Model Risk Audit team and the Global Model Risk Management function in their ongoing framework transformation.
Collaborating with internal and external clients to evaluate, test and report on the effectiveness of the risk management control in accordance with regulatory guidelines (Basel II/III, SR 117/ OCC1112).
Providing expert support in model risk management and governance policies related to audit engagements.

Skills and Experience:

Experience within a Principle Auditor role within a similar institution.
Strong Quantitative background
Experience within Model risk/Stress testing/Market Risk
Desirable CCAR Experience

Deutsche Bank's Values:
Our values define the working environment we strive to create - diverse, supportive and welcoming of different views. We embrace a culture reflecting a variety of perspectives, insights and backgrounds to drive innovation. We build talented and diverse teamsto drive business results and encourage our people to develop to their full potential. Talk to us about flexible work arrangements and other initiatives we offer.

Please note that for the duration of this assignment you will be working as an external resource engaged by AMS based on site at Deutsche Bank