Director, Model Risk Audit

Role Description

SMBC is seeking an experienced Audit Director to lead model and model risk audits within the SMBC Americas Division. The role involves reviewing AI/Model Risk management frameworks and Comprehensive Capital Analysis and Review (CCAR) model governance and controls.

Role Objectives: Delivery

• Support IAD Management and Team Lead in refining and executing the broad audit program covering all models used in financial and non-financial risk management across SMBC Americas Division.
• Assist Model Audit Team Lead with the delivery and execution of IAD's model audit plan and assurance responsibilities. Provide support in preparing management reports and regulatory presentations.
• As Auditor-in-Charge (AIC) and assistant to the model audit Team Lead, direct and supervise audits from inception to completion, including planning, testing, issue identification, workpaper review, and reporting.
• Conduct or lead internal audits as auditor in charge and issue validation according to IIA Standards and internal IAD procedures within prescribed timeframes to support timely management review. Demonstrate a deep understanding of internal audit techniques and audit principles as well as ability to apply internal requirements.
• Ensure written and verbal communication of ACRs and individual audit reports as assigned conforms with IAD NY methodology and incorporates sound judgment.
• Oversee and participate in quarterly and annual continuous monitoring/risk assessment processes to identify business trends and changes in the business risk profile, and when necessary, propose updates to the audit plan to reflect them.
• Identify business process improvement opportunities in assigned audit areas by proposing corrective actions.
• As needed, assist with special projects related to IAD strategic initiatives.

Role Objectives: Interpersonal

• Lead the establishment of model risk audit capabilities in the Charlotte office, including developing audit coverage, building team expertise, and enhancing methodologies to support IAD’s strategic objectives.
• Effectively communicate with stakeholders and audit senior management to clearly articulate audit strategy, testing results, and corrective measures.
• Develop, promote, and maintain a collaborative and strong working relationship with AD business heads, external auditors, and regulators.
• Support Risk and Lending Business and Functional Heads and Model Audit Team Lead to provide support, coaching, and feedback to audit team which may include other junior team members or co-sourced internal audit professionals.
• Demonstrate accountability, ownership, and sense of diligence over individual tasks and assigned audit areas with limited supervision.

Role Objectives: Expertise

• Experience and deep knowledge of 1) AI model risk management and controls and 2) CCAR model and governance framework.
• Excellent communication, presentation, and professional skills including the ability to interact effectively at all levels within the organization.
• Understanding of applicable regulatory standards (including Model Risk, SR 26-2 and SR 11-7).

Qualifications and Skills

• Minimum of 7-10 years’ experience in the banking and finance industry or consulting companies, preferably in the 2nd and/or 3rd line of defense roles for model risk.
• At least 4 years of hands-on audit experience and familiarity with audit techniques, internal controls, and workpaper standards.
• Advanced Degree (Master’s or Ph.D.) in Finance, STEM, or other quantitative field.