MUFG Union Bank Audit Manager, Vice President (Credit Risk Model Audit) in New York, New York
Join a financial group that’s as committed to your future as you are. At MUFG, we share a vision for our future, we share our successes, and we strive to bring out the best in each other in everything we do. Our 14,000 diverse colleagues are connected by a common ambition to create change for the better—from forging more dynamic career paths, to driving progress in our communities, to continuously reshaping the standards of global financial services. Positive impact starts here; see the change you can make as we strive to become the world’s most trusted financial group.
Internal Audit for the Americas acts as the third line of defense, independently assessing first and second line management’s effectiveness in identifying, measuring, monitoring and controlling the risks of the Bank. We are searching for an Audit Manager (VP) with banking/financial services experience to join the team responsible for providing audit coverage of the Bank’s Credit Risk Model Audit processes.
The Credit Risk Model Audit Manager’s primary responsibilities are to: *
Review quantitative modeling processes of Credit Risk (models and analytical tools); and validations of development, implementation and ongoing monitoring.
Review model risk management on credit model use scope and limit-setting, remediation of validation findings, and ongoing monitoring processes by the first line and second line of defense in Credit Risk.
Provide Subject Matter Expert (SME) support on credit risk analytics in other cross-matrix Internal Audit engagements.
Ability to run audits, manage projects and participate in audit assignments in a team environment to ensure on-time delivery and quality control.
Partner with colleagues, clients and control community members to evaluate, test and report on the adequacy and effectiveness of management controls which is conducted in accordance with department policies and procedures, industry professional standards and supervisory rule and guidance (e.g. Basel III, SR 11-7 / OCC 11-12); and will require periodic reporting to senior client management.
Interact and maintain relations with regulators and internal clients.
Some travel may be required.
MA/MS/Ph.D. in analytical fields (Finance, Economics, Statistics, Engineering)
6 to 10 years of relevant experience in Basel Advanced Approaches, credit analysis, quantitative finance or data-mining analytics within the Financial Services industry
Hands-on model development or validation experience with a solid grasp of risk and control framework in wholesale credit, commercial credit, and/or retail credit space
Exposure to wide variety of credit products and derivatives, risk analytics, validation methodologies and regulatory requirements
Highly organized and attentive to detail in project management
Excellent written and verbal communication skills
Strong interpersonal skills, enthusiastic, self-motivated, effective under pressure
Skills desired: *
Detailed knowledge and experience of model development/validation with capital/risk/derivative pricing models across multiple asset classes
Some experience in a financial services firm or in public accounting, with an appropriate level of exposure to and involvement with the products related to these credit underwriting businesses
Internal audit experience is a plus
*We are proud to be an Equal Opportunity/Affirmative Action Employer and committed to leveraging the diverse backgrounds, perspectives and experience of our workforce to create opportunities for our colleagues and our business. We do not discriminate in employment decisions on the basis of any protected category. *
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Job: *Risk & Compliance
Title: Audit Manager, Vice President (Credit Risk Model Audit)
Location: NEW YORK-New York
Requisition ID: 10005003-WD
Other Locations: CALIFORNIA-San Francisco