Manager/senior Manager, Model Internal Audit - Financial Engineering & Modeling

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What will your typical day look like?

In this role you will help financial services industry (FSI) clients face quantitative issues with informed confidence. Using your deep technical skills and leveraging our global network of experts, you'll provide professional advice to our FSI clients in a wide range of situations. The result? Our clients will be better placed to take control and receive the best solutions to their complex challenges.

You will conduct a comprehensive quantitative audit to identify risks, ensure compliance, and evaluate the effectiveness of a client's Model Risk Management Framework (MRMF). This encompasses a thorough review of models, policies and procedures, risk reporting assessment and reporting practices. The responsibilities of the incumbent include:

(i) assessing the effectiveness of internal controls, risk management practices and governance processes,
(ii) evaluating adherence to policy requirements,
(iii) leading and managing internal audit teams to execute audit work, support and communicate audit issues, and assess management action plans,
(iv) drafting audit reports, and reviewing detailed audit work papers that include a concise summary of key results and conclusions, identification of root causes of
significant weaknesses, the audit scope and objectives, and any recommendations along with the potential benefits.

Further, the incumbent is generally expected to be well-acquainted with the requirements of internal audit reports. These reports should discuss audit issues from the following perspectives: Established criteria, existing problems, root causes of any noted problem, existing or potential impact of these problem, and recommendations for corrective actions.

About the team

Deloitte's Risk, Regulatory & Forensics practice delivers highly specialized advisory solutions for companies facing critical business events where significant value is at stake, in every phase of the economic cycle.

Our work is often high profile, high impact, and highly rewarding. If you're looking for a challenge and an opportunity to grow your career alongside the best and brightest in the industry, you'll find it in Risk, Regulatory & Forensics at Deloitte. Broaden your skills. Broaden your reach. Broaden your career. It's all possible at Deloitte.

Enough about us, let's talk about you

You are someone with:

• For the Manager position, a minimum 3 years of relevant experience working in the model risk management (development, validation, internal audit) team within a major financial institution.
• For the Senior Manager position, a minimum of 5 years of relevant experience working in the model risk management (development, validation, internal audit) team within a major financial institution.
• Strong understanding of auditing principles and techniques, particularly in quantitative auditing, and risk assessment including model risk management framework, and data analysis.
• Proven experience in leading and overseeing internal audit teams.
• Excellent project management experience.
• Demonstrated ability to (i) identify and assess risks and controls within assigned audit areas, (ii) provide guidance to teams in the creation and execution of their testing, (iii) review and finalize audit work papers, (iv) finalize audit issues, and (v) effectively communicate findings and conclusions to senior business management.
• Solid academic background with a graduate degree in a quantitative discipline such as a PhD or Master's degree in financial engineering, statistics, financial mathematics, econometrics, or a related postgraduate field.
• Strong verbal and written communication skills.
• Solid knowledge of capital markets, financial instruments, and regulatory requirements such as OSFI CAR and E-23 Guidelines, as well as SR11-7 or SR15-19 supervisory letters.
• Preferred: Professional audit and risk management designations (e.g. FRM, CFA, CIA, CISA) or other relevant certifications are beneficial.

Total Rewards

The salary ranges for these positions are between $95,000 - $159,000 (Manager) and $123,000 - $228,000 (Senior Manager), and individuals may be eligible to participate in our bonus program. Deloitte is fair and competitive when it comes to the salaries of our people. We regularly benchmark across a variety of positions, industries, sectors, targets, and levels. Our approach is grounded on recognizing people's unique strengths and contributions and rewarding the value that they deliver.

Our Total Rewards Package extends well beyond traditional compensation and benefit programs and is designed to recognize employee contributions, encourage personal wellness, and support firm growth. Along with a competitive base salary and variable pay opportunities, we offer a wide array of initiatives that differentiate us as a people-first organization. Some representative examples include: $4,000 per year for mental health support benefits, a $1,300 flexible benefit spending account, 38+ days off (including 10 firm-wide closures known as "Deloitte Days"), flexible work arrangements and a hybrid work structure.