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- Tasks: Audit IRB models and ensure compliance with regulatory standards.
- Company: Join a leading global bank with a focus on innovation.
- Benefits: Career progression, competitive salary, and the chance to work with senior stakeholders.
- Other info: Dynamic role with opportunities to engage across various teams and projects.
- Why this job: Be part of a newly forged team making a real impact in model risk audit.
- Qualifications: Experience in IRB Model Validation or related fields; strong analytical skills required.
The predicted salary is between 60000 - 80000 £ per year.
I’m currently recruiting on behalf of a specialist Internal Audit team in a large global bank who are looking for an IRB model SME. With the Basel 3.1 changes upcoming, the team is looking for an IRB SME who can audit IRB models ahead of regulator submission. You do not need to have Internal Audit experience and could have gained experience through 1st or 2nd line roles.
The successful candidate will join a newly forged team that focuses on IRB models but will also get involved in other areas of Model risk audit. The role has genuine progression opportunities in 1st, 2nd or 3rd line teams and will be working very closely with the UK CEO and other senior stakeholders. The team is also highly valued by the regulator.
The role: You will support audit reviews across model methodology, governance, controls and regulatory compliance, with a particular focus on IRB models including PD, LGD and EAD. The work includes reviewing self-assessment templates and supporting documentation linked to regulatory submissions, as well as broader thematic audit work across model risk. You will be engaging closely with stakeholders across Model Development, Validation, Model Risk and Regulatory Reporting, while also contributing to audit planning, risk assessment and the delivery of well-evidenced audit findings.
Key areas of focus:
- IRB credit risk models including PD, LGD and EAD
- Model governance, controls and documentation
- Validation reports and model performance monitoring
- Data quality and regulatory compliance
- Basel 3.1, CRR and PRA model risk expectations
- Thematic model risk audit work across the model lifecycle
What we are looking for:
- Experience in IRB Model Validation, Model Development, Model Risk Management or Internal Audit with a quantitative focus
- Good understanding of IRB credit risk models and regulatory expectations
- Familiarity with Basel 3.1, CRR and PRA guidance such as SS1/23
- Strong analytical skills and the ability to interpret complex technical documentation
- Clear communication skills and the confidence to work with senior stakeholders
- Prior exposure to regulatory submissions, model assurance or risk reviews would be highly beneficial
Internal Audit AVP - IRB Model Risk employer: Bruin
Contact Detail:
Bruin Recruiting Team
StudySmarter Expert Advice 🤫
We think this is how you could land Internal Audit AVP - IRB Model Risk
✨Tip Number 1
Network like a pro! Reach out to your connections in the banking and audit sectors. Attend industry events or webinars where you can meet potential employers or colleagues who might know of openings. Remember, it’s all about who you know!
✨Tip Number 2
Prepare for those interviews by brushing up on your knowledge of IRB models and Basel 3.1 changes. We recommend creating a cheat sheet of key concepts and recent developments to discuss confidently with interviewers. Show them you’re not just a candidate, but a knowledgeable asset!
✨Tip Number 3
Don’t underestimate the power of follow-ups! After an interview, drop a quick thank-you email to express your appreciation and reiterate your interest in the role. It keeps you fresh in their minds and shows your enthusiasm.
✨Tip Number 4
Apply through our website! We’ve got loads of opportunities that might be perfect for you. Plus, applying directly can sometimes give you a leg up in the process. So, don’t wait – check us out and get your application in!
We think you need these skills to ace Internal Audit AVP - IRB Model Risk
Some tips for your application 🫡
Tailor Your CV: Make sure your CV is tailored to highlight your experience with IRB models and any relevant regulatory knowledge. We want to see how your background aligns with the role, so don’t be shy about showcasing your skills!
Craft a Compelling Cover Letter: Your cover letter is your chance to shine! Use it to explain why you’re passionate about internal audit and model risk. We love seeing candidates who can communicate their enthusiasm and fit for the team.
Showcase Your Analytical Skills: Since this role requires strong analytical skills, make sure to include examples of how you've tackled complex problems in your previous roles. We want to see your thought process and how you approach challenges.
Apply Through Our Website: Don’t forget to apply through our website! It’s the best way for us to receive your application and ensures you’re considered for the role. Plus, it shows you’re keen on joining our team!
How to prepare for a job interview at Bruin
✨Know Your IRB Models Inside Out
Make sure you brush up on your knowledge of IRB credit risk models, especially PD, LGD, and EAD. Be prepared to discuss how these models work and their importance in regulatory compliance. This will show that you’re not just familiar with the concepts but can also apply them practically.
✨Familiarise Yourself with Basel 3.1
Since the role involves navigating Basel 3.1 changes, it’s crucial to understand its implications for model risk management. Read up on the latest guidance and be ready to discuss how these regulations impact audit processes and model validation.
✨Engage with Stakeholders
The job requires close collaboration with senior stakeholders, so practice articulating your thoughts clearly and confidently. Think of examples from your past experiences where you successfully communicated complex information to non-technical audiences.
✨Prepare for Thematic Audit Discussions
Expect questions about thematic audits and how they relate to model governance and controls. Prepare to share your insights on best practices in audit planning and risk assessment, as well as any relevant experiences you have in these areas.