VP- Model Risk Auditor

Job code: RQ00120216
Date of publication: 2017-08-15 00:10:51.0
Starting date
Immediate
Job function
Audit
Business unit
SG CIB
Location
New York
Job type
Permanent contract

Environment

DEPARTMENT DESCRIPTION

The Inspection and Audit Division (DCPE) represents the independent audit function within Societe Generale (SG) Group.

The SG Americas Internal Audit Department is a group of about 50 professionals, based in the US (New York, Chicago) and in Brazil. The Department is responsible for auditing all of SG’s businesses and related support functions in the Americas region, including the USA, Canada, Brazil and Mexico: 

  • Global Banking and Investor Solutions (GBIS). GBIS offers solutions for its clients by capitalizing on its worldwide expertise in corporate & investment banking, private banking, and asset management.  For the Americas region, GBIS is headquartered in New York with a significant presence in Chicago. In the Americas, GBIS is primarily focused on corporate & investment banking:
  • MARK - Global Markets (equities, fixed income, currencies, commodities, prime brokerage).
  • LYXOR – Asset management and advisory solutions, in all asset classes, to investors.
  • CORI & GLFI - Global Finance offer global advisory and coverage to clients, and structured finance and capital raising solutions.
  • International Banking and Financing Services (IBFS).  IBFS offers services to its clients in the US (New York), Brazil (Sao Paulo) and Mexico (Mexico City) including equipment and vehicle finance.
  • Global Transaction & Payment Services (GTPS). GTPS provides correspondent banking and cash management services in the US and Trade Finance services in Brazil.

The SG Americas Internal Audit Department is organized into four business and information technology teams – Market Activities & Investment Management (“MARK”); Credit & Transversal Functions; Latin America; and IS/IT Audit.

The Senior Auditor role is a senior level auditor position within the Department. Auditors at this level are expected to have a strong level of experience in audit techniques and have a more specialized knowledge of the areas within the scope of their perimeter. Senior Auditors should raise the profile of Internal Audit’s capabilities and project and promote a professional image throughout SG.


Mission

MAIN ACCOUNTABILITIES

The Senior Auditor will be part of the MARK Audit Team and will make a key contribution to Audit’s regular assessment of the adequacy and effectiveness of SG’s model risk management program. This will include leading to US audits of models, including:  the risk management framework / governance and related regulatory requirements (e.g. FRB SR 11-7); technical review of model implementation, technical review of model development, and review of mode use test.  The models to be reviewed are very diverse, market risks and valuation, liquidity, credit,.. We expect the candidate to able to coordinate strongly with Paris models audit team, both in terms of methodology and in terms of scope/coverage determination.

In addition to this specific focus, the auditor will contribute to the regular audits of SG’s trading and sales activities across all asset classes.

The auditors at this level are expected to have a strong grasp of audit techniques. The candidate’s primary responsibilities will be to assist in, or lead, audits with focus on:

  • planning the audit and developing clear and concise risk/control matrices and audit programs;
  • analyzing business processes, procedures, and risks and evaluating the internal controls;
  • preparing work papers and drafting audit findings to bring any concerns to management’s attention;
  • preparing the final audit report, and managing related exit meetings;
  • tracking and following up on open audit and regulatory issues with the clients; and
  • working on special projects.

Candidates must have the ability to travel for periods of 1-3 weeks when required (USA, Europe).


Profile

COMPETENCIES

The Senior Auditor must be able to work independently, meet budgets and deadlines, and be able to manage relationships constructively with auditees and audit counterparts during all stages of the audit.  Specifically, the candidate should demonstrate the following skills and competencies:

Required:

Results Orientation:
  • Establishes goals, priorities, and realistic plans that maximize the use of resources
  • Is a self-starter
  • Has good project management skills (organization, time management)
  • Demonstrates initiative, integrity, creativity, and a strong desire to learn
  • Has strong analytical and problem solving skills
  • Sound verbal and written communication skills
Client Focus:
  • Understands and addresses client needs; resolves client problems; monitors client satisfaction
  • Is Service orientated with good interpersonal and negotiation skills
Cooperation:
  • Involves and collaborates with others; shares information; searches for win/win solutions; facilitates resolution of conflict. 
  • Is a demonstrated team player

Evolution

TECHNICAL SKILLS

Required:

  • Familiarity with bank regulatory requirements for model risk management
  • Specific technical skills for models
  • Good working knowledge of market activities, products, and processes. 
  • Experience auditing or assessing general trading processes, risks and.

Desired:

  • Familiarity with banking industry best practices for model risk management
PRIOR WORK EXPERIENCE
Required:  
  • Candidate should have 7+ years of experience in internal auditing or other relevant positions in risk management.
  • Candidate should have experience in auditing, testing or otherwise assessing model risk management frameworks, with a strong control perspective.
EDUCATION

Required:

  • Undergraduate degree in accounting, finance or related field

Desired: FRM, CFA or other relevant certifications

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