Audit Manager - Quant

Regular, full-time position. Fluency in English required. 1st shift (United States of America).

About the role

The Quantitative Audit Manager (QAM) is responsible for delivering complex technical audit assessments related to the identification and mitigation of risk associated with both financial and non-financial models and other quantitative tools implemented across Truist. The QAM will also proactively coach junior team members by providing candid and constructive feedback and technical insights.

Responsibilities

• Lead the execution of technical model validation reviews completed by the Truist Model Risk Management Risk Management Technical Review Team, including:
  • Performing full or targeted scope validation assessments.
  • Reviewing validations to ensure TAS concurs with the conclusions made by the Model Risk Management Team (MRM) within Truist.
  • Assessing methodology, implementation, and the fit-for-use status of models.
  • Reviewing various other components of models given the model’s expected use and the scope of the Audit project.
• Maintain relationships with Model Risk Management, Model Development, and Model Owners throughout the first and second lines of defense, in coordination with more experienced Model Quantitative Auditors.
• Contribute to improving Truist model risk management by:
  • Recommending improvements to model risk management systems and processes.
  • Being knowledgeable of the organization, operations, policies, and procedures related to the use and management of models.
  • Providing feedback to management on the implementation of new model systems and related processes, and changes to existing model systems, standards, and procedures.
• Develop and maintain specialization and expertise in complex modeling concepts, auditing concepts, and risk management practices. Pursue continuing education and additional professional certifications as appropriate.
• Collaborate with various audit delivery teams and provide subject matter expertise for models used by related lines of business.
• Maintain knowledge and experience to assist audit delivery teams with evaluating Truist’s adherence to SR 11-7 regulatory guidance on model risk governance and oversight for various model types.
• Provide leadership, training, coaching, and mentoring to junior team members to enhance achievement of goals and objectives.

Requirements

• Master’s in Mathematics, Statistics, Data Science, Engineering, Computer Science, or formal post-undergraduate certification with a focus on Quantitative or Financial Analytics.
• 6+ years of technical model experience, which could include working on a model validation team, model development team, or Audit equivalent technical review team.
• Demonstrated proficiency with one or more financial modeling methodologies, including knowledge of statistical and algorithmic methods applied in financial modeling.
• Ability to work independently without supervision.
• Strong knowledge of programming languages such as R, Python, or C++.
• Strong knowledge of one or more database management tools such as SAS and/or SQL.
• Strong analytical, facilitation, interpersonal, and decision-making skills.
• Strong written, oral, and negotiating skills, including the ability to present findings and articulate and defend conclusions to senior Audit and/or line of business management.
• Strong proficiency in standard software applications such as MS Office.

Preferred Qualifications

• Ph.D. in Mathematics, Statistics, Data Science, Engineering, Computer Science, or other relevant degree.
• Technical model experience with a large bank.
• General auditing skills.
• Broad understanding of finance and accounting concepts and the banking and financial services industry.

Benefits

All regular teammates (not temporary or contingent workers) working 20 hours or more per week are eligible for benefits. Eligibility for specific benefits may vary by division.

• Medical, dental, and vision insurance.
• Life insurance, disability, and accidental death and dismemberment coverage.
• Tax-preferred savings accounts and a 401k plan.
• No less than 10 days of vacation (prorated based on date of hire and full-time/part-time status) during the first year of employment, along with 10 sick days and paid holidays.
• Depending on the position and division, may also be eligible for:
  • Truist’s defined benefit pension plan.
  • Restricted stock units.
  • A deferred compensation plan.