Audit Manager – Model Risks
2 months ago
ABOUT THE COMPANY
Equity Bank Kenya Limited, is a financial services provider headquartered in Nairobi, Kenya. It is licensed as a commercial bank, by the Central Bank of Kenya, the central bank and national banking regulator.
JOB SUMMARY
Our purpose is transforming lives, giving dignity, and expanding opportunities for wealth creation.The role of the Audit Manager – Model Risks is to provide assurance over model risks. The role is responsible for conducting comprehensive audits and assessments of the models and analytical frameworks used across the Group. This role plays a critical part in evaluating the effectiveness of model governance, identifying risks associated with models, and providing recommendations for improvement to ensure compliance with relevant regulations and industry standards.Reports to Senior Manager – Audit Automation, Analytics & ModelsQualificationsBachelor’s degree in quantitative fields such as mathematics, statistics, economics, or a related field.Advanced degree(s) preferred.Professional certifications such as Certified Model Risk Manager (CMRM) or equivalent.Minimum of 5 years of experience in model risk auditing, risk management, or related roles.Competencies:Strong understanding of model governance frameworks, regulations, and industry best practices.Familiarity with auditing tools, techniques, and methodologies, including data analytics and automated testing.Proficient in the use of data analytics and visualisation toolsExcellent analytical, problem-solving, and critical thinking skills, with a strong quantitative background.Strong communication skills, both written and verbal, for effective reporting, stakeholder management, and team leadership.Ability to work in a team environment and collaborate with cross-functional stakeholders.Willingness to travel domestically and internationally as required.Results orientationHigh integrity and strength of character
RESPONSIBILITIES
Model Risk Audit Planning and Execution:Participate in the development and execution of the annual internal audit plan providing inputs on model risks.Conduct audits of various models and analytical frameworks used for risk management, pricing, capital calculation, and decision-making processes.Evaluate the effectiveness of model governance, including model development, validation, implementation, and monitoring processes.Assess the accuracy, completeness, and reliability of data inputs used in models.Perform technical testing and analysis, including model validation, stress testing, and sensitivity analysis.Collaborate with other audit teams to deliver integrated audits and advisory assignmentsParticipate in the development of audit analytics and automation.Audit Reporting and Documentation:Prepare comprehensive audit reports detailing findings, risks, and recommendations for remediation.Document audit procedures, evidence, and working papers in accordance with established standards and methodologies.Collaborate with model developers, risk management teams, and business stakeholders to validate findings and ensure accurate reporting.Risk Assessment and Advisory:Analyze and evaluate the potential impact of identified risks on the organization's decision- making processes, financial performance, and overall risk profile.Provide practical recommendations to mitigate risks associated with models and enhance the effectiveness of model governance.Assist in the development and implementation of remediation plans and model risk management strategies.Contribute to model risk advisory projects and assessments, providing subject matter expertise and guidanceContinuous Learning and Development:Stay updated with emerging model risk management practices, regulatory changes, and industry best practices related to model auditing.Participate in training and professional development opportunities to enhance technical and auditing skills.Contribute to the improvement of audit methodologies and procedures within the team.Stakeholder Management and Mentorship: Collaborate effectively with model developers, risk management teams, business units, and relevant stakeholders during audit engagements.Foster positive relationships and maintain open communication channels to facilitate the audit process.Provide guidance, mentorship, and support to junior auditors and team members.
REQUIRED SKILLS
Reporting, Stakeholder communication, Auditing of accounts, Risk analysis, Documentation and record keeping
REQUIRED EDUCATION
Bachelor's degree
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