Audit Portfolio Manager: CIB Model Risk

Nedbank Group Limited is a bank holding company that operates as one of the four largest banking groups in South Africa. The company's shares have been listed on the JSE Limited since 1969. The group offers a wide range of wholesale and retail banking services through four main business clusters, namely Nedbank Corporate and Investment Banking, Nedbank Retail and Business Banking and Nedbank Wealth. Nedbank Group focuses on southern Africa, with the group positioned to be a bank for all - both from a retail and wholesale banking perspective. The principal services offered by the group comprise business, corporate and retail banking, property finance, investment banking, private banking, foreign exchange and securities trading. Nedbank Group also generates income from private equity, credit card issuing and processing services, custodial services, unit trust administration, asset management services and bancassurance.Job Responsibilities Reviewing key aspects of each model under review: model design, model documentation, quality of model inputs, model implementation and model governance Performing audit fieldwork in terms of the audit program. Documenting the audit testing performed. Stakeholder engagements on audit issues identified. Drafting of audit report: including executive summary and detailed audit findings. Evaluating and monitoring of corrective actions taken to address control weaknesses identified. Attendance of key risk committee and technical risk committee meetings where relevant Interaction with the regulating authorities on model related matters. Maintaining awareness of risk issues and changes across business units within Nedbank Group, as well as the Financial Industry Seeking out internal and external best practice information to improve the quality of audits and provide customers with world-class perspectives and solutions. Reporting significant issues related to the processes for controlling the activities of the Group whilst considering key/or emerging risks in annual audit plan. Ensuring continuous improvement of the quality of audits through providing professional insights; Providing insights from the outcomes of internal audit work to appropriate governing bodies, including the GAC and Board Risk Committee. Maintaining an open and constructive relationship as a Trusted Advisor with senior internal and external stakeholders including Institute of Internal Audit, SARB, External Audit and Business Executives. Building rapport and understand client current business reality, requirements, risks, and expectations and consider key and/or emerging risks in annual audit plan. Ensuring that billable hours, budgets, and resources are optimally planned, and quality audits are delivered. Minimum Experience Level 3 years + extensive experience in model development, testing and validation or Model/Quantitative risk Audit (preferably within the banking or similar financial services industry); Ability to operate independently with minimal supervision; Knowledge of statistical, financial, risk and quantitative methods; Proficiency in programming software packages such as SAS, SQL, R, VBA, PYTHON and MATLAB. Understanding of credit, operational, market and liquidity risk models as defined by Basel II & III will be advantageous A comprehensive understanding of relevant financial services regulatory frameworks and compliance requirements as well as practical experience of these. Knowledge relating to Corporate Investment Banking including Market Risk. The following additional experience is preferred: Extensive internal/external audit and / or risk management experience in banking; Actuarial and/or Market Risk experience. Essential Qualifications - NQF Level Advanced Diplomas/National 1st Degrees Preferred Qualification A Business Mathematics/Actuarial/Financial Engineering/Informatics/Quantitative Risk Management Degree with majors in Mathematics and Statistics is essential. A post graduate degree would be advantageous Technical / Professional Knowledge Audit reporting Audit standards and practices Banking knowledge Governance, Risk and Controls Ethics and Fraud Reputational risk management Information technology Business writing skills Regulatory, Legal and Economics Principles Business Acumen