Audit Manager I (Model Risk)

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The Audit Manager I (Model Risk) will primarily be responsible for executing audit programs in Model Risk. This role will perform testing in model audit programs, document audit results, communicate audit findings to management, conduct continuous monitoring activities and evaluate the adequacy of controls to ensure adherence with internal policies, industry best practices, and regulatory requirements (e.g. SR 11-7).

Responsibilities

• Conduct audit testing in model audit programs and provide timely feedback to management
• Identify control gaps and/or best practices that help improve business partner operations and ensure an effective control environment for the bank
• Make decisions in complex situations requiring solid understanding of risk management framework and the risk and control environment.
• Document audit results in a manner that adequately communicates and supports the work performed and conclusions reached
• Escalate any critical or high-risk issues/themes to appropriate leadership
• Provides status updates to key stakeholders on programs and specific reviews where warranted.
• Assesses, documents, and communicates risks, themes and identified issues in various models to risk partners in a timely manner.
• Manage business partner relationships in a manner that fosters cooperation, respect and a positive risk culture.
• Proactively seek relevant education, exposure and/or training opportunities to understand and gain proficiency in Risk Management disciplines, industry best practices and regulations.
• Help advance our purpose-driven culture by demonstrating CIBC values

Qualifications

Required

• Master's degree in a quantitative field, e.g. Statistics, Financial Engineering, Physics, Economics, Mathematics, Data Science.
• At least 3 years of relevant work experience, including model risk audit experience, model development or model validation experience in the financial services industry.
• 2+ years of programming experience in Python, SAS, or R.
• Excellent verbal and written communication skills.
• Ability to effectively manage multiple projects with challenging timelines

Preferred

• A PhD in a quantitative field
• 3+ years of model development, model validation, or model risk auditing experience in at least one of these areas: Internal Rating-Based (IRB) Models, Regulatory Capital Models, Market Risk Models, Trading Room Pricing models, ML/AI models, preferably from a large financial institution.
• Familiarity with risk management principles, preferably in Enterprise Risk Management, Model Risk Management, or financial risk disciplines.

Core competencies include leadership skills, proficient verbal and written communication skills, critical-thinking ski