Internal Auditor Model Risk

4 months ago

Johannesburg, South Africa Absa Bank Limited Full time

Empowering Africa’s tomorrow, together one story at a time.
- With over 100 years of rich history and strongly positioned as a local bank with regional and international expertise, a career with our family offers the opportunity to be part of this exciting growth journey, to reset our future and shape our destiny as a proudly African group.Job Summary

To monitor the risk profile of the business and execute audit assignments in accordance with the Group Audit Plan and Internal Audit methodology, relevant policies, procedures and quality standards.

**Job Description**:
The Internal Audit AVP for Model Risk role is responsible for assurance of Model Risk for Absa Group and well as the Absa Group Model Risk Function. The position is a key AVP role given the complexity of the coverage in respect of the internal rating systems and the bank’s model risk management practices.
- The position is a technical Model specialist as well as SME role in Internal Audit and is required require to provide assurance on:

- Business Unit Model Risk Functions: The development, implementation and monitoring of models within the Business Units. This includes all model types (scorecards, capital, impairment etc.) as well as all risk types (Credit, Market, Insurance, Operational, Enterprise).
- Regulatory Framework: The provisions of the regulatory framework and in particular the models and methodologies used by the Bank in measuring its regulatory capital and assessing the adequacy of its capital resources in relation to the bank’s credit risk exposures and established minimum ratios.
- Support in the identification of risks to be tested by participating in planning sessions. Develop testing strategies for key controls within the business to adequately mitigate the risks. Manage the execution of Design Effectiveness Testing (DEA) and Operational Effectiveness Testing (OET) of the audit team in line with methodology requirements.
- Develop an in-depth knowledge of Absa and the various business areas and use the knowledge to assess risks and controls through identifying, assessing and documenting risks and controls within these processes. Engage proactively with Internal Audit colleagues during assignments and request technical assistance where required and based on knowledge of business areas, provide guidance to other auditors and peers by sharing best practice so that their work meets and sometimes exceeds quality standards.
- Develop and maintain relationships with key audit contacts on each audit by attending continuous stakeholder meetings. In addition, engage closely with stakeholders during assignments and encourage open discussion and interaction with business on the risks associated in their environment.

Minimum requirements:

- Quantitative degree
- Minimum 3 years experience
- Model Risk background
- People Management experience
- Previous Financial Services experience

Education

Bachelor's Degrees and Advanced Diplomas: Business, Commerce and Management Studies (required)
- Absa Bank Limited reserves the right not to make an appointment to the post as advertised_

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