JOB SUMMARY

As a Senior Audit Manager in Group Internal Audit and Investigations (GIAI), you will join our specialist Model Risk audit team and leverage your first-hand experience model experience (developer / validator / oversight). You will work closely with the Audit Director - Model Risk (AD-MR) to develop and implement a comprehensive audit strategy, ensuring robust assurance over Model Risk Management (MRM). This role is crucial in enhancing our model risk oversight capabilities and does not require prior audit experience, but a keen interest in developing audit skills is essential. 

Key Responsibilities

•    Participate as a subject matter expert in model risk-related audits, performing testing, concluding opinions, and supporting the drafting of audit issues.
•    Ensure assigned audit work is executed efficiently and effectively, within budget and timelines, and in line with GIAI methodology standards.
•    Act as a Team Leader on model risk audits, deliver key audit planning documents, manage team members, draft accurate issues, agree on SMART actions with stakeholders, and write balanced reports.
•    Lead continuous monitoring of assigned model families and maintain engagement with relevant stakeholders across all lines of defence.
•    Participate in department-wide exercises such as annual planning, risk assessment, and training. 
•    Support the AD-MR in their role as the GIAI Model Family Subject Matter Expert, providing model risk knowledge and expertise for audits across GIAI.
•    Attend and present at formal committees and Group meetings on behalf of the AD-MR or for your area of responsibility, as required.
•    Track and validate assigned audit issues, ensuring that risks are mitigated through timely delivery of agreed management action plans.
•    Continuously seek out opportunities to improve and advance activities leveraging data, automation, and technology.

Stakeholder Engagement

The Bank uses models in a variety of areas to support its activities and considers Model Risk as a key risk. This risk continues to grow with increased use, evolution of modelling techniques, and regulatory prescription. For GIAI to ensure a robust and independent third-line view on the effectiveness of controls to manage model risk we must continuously engage a variety of stakeholders:

•    First-line Model Developers: Responsible for building, implementing, and overseeing the effective use of the models.
•    Second-line Independent Model Validation: Ensures models are built correctly and remain appropriate for their intended use.
•    Second-line Model Risk Management: Develops the Model Risk Management Framework and provides oversight to ensure effective MRM.
•    Third-line GIAI Business and Country Heads: Provide insights into model identification and use in their areas and require guidance on MRM.

Professional Standards

All GIAI staff must maintain the highest level of professional objectivity, making balanced assessments free from undue influence. GIAI adheres to the Definition of Internal Auditing, Core Principles, Code of Ethics, and Standards published by the IIA. We exemplify the Group’s valued behaviours, and our methodology, including "Habits of a Human Auditor," aligns with and promotes these behaviours across the function.

Key Stakeholders

•    Build and maintain effective relationships with management of business units under risk assessment.
•    Engage with designated business stakeholders related to audit assignments and the assigned portfolio.
•    Collaborate with GIAI stakeholders – team leaders, members, Audit Directors, Country, and regional heads.

Our Ideal Candidate

• 10+ years of experience across banking or consulting, with strong expertise in Model Development or Model Validation
• In-depth understanding of quantitative Model Risk Management, processes, and associated control requirements.
• Quantitative degree is preffered e.g. mathematics or finance, or professional certifications FRM / CFA
• Strong communicator, both written and verbal, with ability to clearly explain risks and controls.
• Advanced experience in key model areas such as credit risk (IRB, IFRS9), market risk (IMA, FM), or Counterparty Credit Risk (IMM), though experience of other modelling areas such as Financial Crime and the use of Artificial Intelligence is also desirable.
• Core understanding of regulatory guidance and requirements around Model Risk management, including UK and European (CRR and EBA) requirements, or Asian regulators such as Singapore (MAS) and Hong Kong (HKMA).
• Audit experience is desirable, either conducting or participating in audit reviews. A professional audit certification is an added advantage
• Coding and analytics/visualisation experience with tools such as PowerBI, Tableau, or similar is desirable.
• Certifications in analytics and AI/Gen AI will be an advantage

Role Specific Technical Competencies

•    In-depth understanding of Quantitative Model Risk management, processes and associated control requirements;
•    Strong and impactful communicator, both within reports and verbally, with ability to clearly articulate controls to be tested and risks identified to both internal and business stakeholders
•    Confident and courageous to raise and escalate ideas or concerns in a professional and timely manner;
•    Proactive, self-directed and able to work with minimum supervision;
•    Exercise professional judgment, objectivity and discretion
•    Ability to build relationships, working within a global team.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Recruitment Assessments

Some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

Visit our careers website www.sc.com/careers