Senior Vice President - Internal Audit | Model Risk

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Working at Citi is far more than just a job. A career with us means joining a team of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.

Job Overview

Whether you’re at the start of your career or looking to discover your next adventure, your story begins here.  At Citi, you’ll have the opportunity to expand your skills and make a difference at one of the world’s most global banks.  We’re fully committed to supporting your growth and development from the start with extensive on-the-job training and exposure to senior leaders, as well as more traditional learning.  You’ll also have the chance to give back and make a positive impact where we live and work through volunteerism.

The Senior Vice President - Internal Audit | Model Risk incumbent will be responsible for leading and executing audit engagements related to model risk management across various business lines and functions within Citibank. This role requires a deep understanding of quantitative models, model development lifecycles, validation methodologies, governance frameworks, and relevant regulatory requirements. The successful candidate will provide independent assurance on model risk controls to ensure that model risks are appropriately identified, assessed, and managed, contributing significantly to the bank's overall risk posture.

Key Responsibilities

• Audit Execution: Plan, lead, and execute complex internal audits focused on model risk related controls across diverse model types (e.g., credit, market, operational, capital, stress testing). This includes assessing controls on model development, validation, implementation, and ongoing performance monitoring.

• Risk Assessment: Identify and assess key risks and controls related to the end-to-end model lifecycle, including data quality, model methodology, conceptual soundness, model output accuracy, and usage.

• Regulatory Compliance: Evaluate adherence to internal policies, industry best practices, and regulatory requirements (e.g., SR 11-7, Basel III, local regulatory guidelines like RBI pronouncements concerning model risk).

• Control Effectiveness: Design and perform testing of controls within the model risk management framework, identifying control weaknesses, process inefficiencies, and areas for improvement.

• Stakeholder Engagement: Manage stakeholders up to Managing Director level.  Discuss effectively with model developers, model validators, risk management teams, business units, and other audit teams to understand business processes, assess risks, and communicate audit findings.

• Reporting: Prepare comprehensive, high-quality audit reports and other deliverables, articulating audit findings, risk implications, and practical recommendations clearly and concisely to senior management.

• Issue Tracking: Monitor the timely and effective remediation of audit issues and recommendations.

• Advisory Role: Provide subject matter expertise and guidance to the internal audit team on model risk-related topics.

• Continuous Improvement: Stay abreast of emerging trends, regulatory changes, and industry developments in model risk, quantitative finance, and internal audit practices.

• Mentorship: Guide and mentor junior audit staff, fostering their development in model risk and audit methodologies.

Qualifications

• Minimum 12+ years of experience in internal audit, model risk management, model validation, quantitative risk management, or a similar analytical role within the financial services industry.

• Proven experience with a strong understanding of various types of financial models and their applications (e.g., pricing, risk capital, ALM, stress testing, CCAR/DFAST, machine learning models).

• Experience working in a complex, global financial institution is a significant plus.

• Experience leading and building teams.

• Experience managing stakeholders up to Managing Director level.

• Certifications (Preferred): Professional certifications such as CFA, FRM (Financial Risk Manager), PRM (Professional Risk Manager), CIA (Certified Internal Auditor), or CPA.

Skills

• Technical & Quantitative Skills:

  • Strong foundational knowledge of quantitative methods, statistical modelling, probability theory, and numerical techniques.

  • Proficiency in statistical software packages (e.g., SAS, R, Python, MATLAB) and data analysis tools.

  • Familiarity with database querying languages (e.g., SQL).

  • Understanding of model governance frameworks, model development lifecycle, and validation best practices.

  • Knowledge of various modelling techniques (e.g., regression, time series, machine learning algorithms).

• Audit & Risk Management Skills:

  • Solid understanding of internal audit methodologies, risk-based auditing, and control frameworks (e.g., COSO).

  • Ability to critically analyse complex quantitative issues and identify underlying risks.

  • Strong analytical, problem-solving, and decision-making abilities

• Soft Skills:

  • Excellent written and verbal communication skills, with the ability to articulate complex quantitative concepts and audit findings to both technical and non-technical audiences.

  • Strong interpersonal skills and the ability to build effective relationships with stakeholders at all levels.

  • Demonstrated ability to work independently, manage multiple priorities, and deliver high-quality results in a fast-paced environment.

  • Proven leadership skills, including the ability to influence and guide team members.

  • High degree of integrity, professionalism, and ethical conduct.

Education:

• Bachelor's degree in a quantitative field such as Finance, Mathematics, Statistics, Engineering, Computer Science, Economics, or a related discipline.

• Master's degree or Ph.D. in a quantitative discipline (e.g., Financial Engineering, Quantitative Finance, Statistics, Operations Research) is highly preferred.

This job description provides a high-level review of the types of work performed. Other job-related duties may be assigned as required.

Working at Citi is far more than just a job. A career with us means joining a family of more than 230,000 dedicated people from around the globe. At Citi, you’ll have the opportunity to grow your career, give back to your community and make a real impact.

Take the next step in your career, apply for this role at Citi today

https://jobs.citi.com/dei

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Job Family Group:

Internal Audit

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Job Family:

Audit

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Time Type:

Full time

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Most Relevant Skills

Control Monitoring, Data Analysis, Industry Knowledge, Issue Management, Laws and Regulations, Professional Standards, Risk Management, Root Cause Analysis.

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Other Relevant Skills

For complementary skills, please see above and/or contact the recruiter.

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