Model Risk Audit - VP (Quantitative Risk)

6 days left

New York City, New York (US)
$130,000 - $210,000
29 Sep 2016
29 Oct 2016
Contract Type
Full Time
0-25% Travel, None

Gresham Hunt have been engaged to perform a search on behalf of a Top Tier Global Investment Management firm in New York for a VP within Model Risk Internal Audit.

Please note that it is not a necessity to have Internal Audit experience. The line manager is happy for an individual from a 2nd line background to take the opportunity and expand their skill set.

The successful candidate will be responsible for:

  • Designing and implementing the execution of the Department's audit methodology and semi-annual audit plan related to model risk
  • Serving as an SME to the Department on model risk, model development and validation standards as well as model regulatory requirements across the entire group wide models
  • Build and maintain strong relationships with stakeholders both within the Audit function and within the corporate functions
  • Partner with respective audit teams to build a collaborative approach
  • Monitor issues and trends throughout the year to design effective processes and controls and to mitigate emerging risks
  • Help manage the relationships with all relevant regulatory bodies on behalf of model risk
  • Remain current with regulatory issues and industry topics to ensure model risk frameworks are in line with the most recent trends
  • Utilize data analytics in support of identifying key issues and risks within model risk governance
  • Develop a strategy to manage talent within the wider risk audit team and proactively performance manage staff to ensure full compliance with company and department standards


  • It is important that the successful candidate possesses a high level of executive presence and energy for this role
  • Broad experience in group wide model risk/governance in any large Financial Institution or regulatory/supervisory body
  • Understanding of ALM frameworks and sources of risks
  • Hands on experience with financial assets and derivatives pricing, valuation, risk analytics and profit/loss attribution (with prevalent focus on interest rate, foreign exchange, and credit products)
  • Experience of capital requirements for large FI's
  • Knowledge of regulatory stress testing framework and processes that are required
  • Strong track record of providing value-added insights to stakeholders and serving as a trusted adviser to both business and corporate function leaders
  • Excellent communication skills and the ability to partner effectively with corporate groups and deliver clear messages to stakeholders and audit team members
  • Undergraduate degree in Economics or a Quantitative field is important along with a MSc or PhD in the same area
  • FRM, CFA designation is preferable however it is not essential

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