Senior Model Risk Audit Manager

Senior Model Risk Audit Manager

Our client, a large European Bank, is seeking a Senior Model Risk Audit Manager to join a high-performing Financial Risk Audit team within Group Internal Audit . This role offers exposure to enterprise-wide model risk management across a multi-national financial services environment, with the opportunity to influence senior stakeholders and executive decision-making.

The successful candidate will lead model risk audits across the first and second lines of defence, assess control effectiveness, and support the ongoing development of audit standards and team capability. 

The Job:

• Lead end-to-end model risk audit engagements across model development, validation, and governance activities
• Assess the effectiveness of model risk controls and perform risk-based audit testing
• Deliver audits to agreed timelines, scope, and quality standards, providing regular stakeholder updates
• Produce clear audit reports, including findings, recommendations, and remediation tracking
• Build strong relationships with senior stakeholders across the business 
• Support and mentor junior team members while contributing to audit planning and methodology improvements

Requirements:

• Strong experience in model risk management, model validation, or audit within financial services
• Expertise across IRB and IFRS 9 credit risk models
• Good understanding of relevant regulatory frameworks including CRR, IFRS 9, EBA/ECB/PRA guidance, and the EU AI Act
• Experience engaging with senior stakeholders and managing complex audit activities
• Proficiency in SAS, Python, or R, alongside strong analytical and report-writing skills
• Quantitative degree with progress toward CIA, CISA, ACA, ACCA, or similar professional qualification