Subscribe to Job Alert
Join our happy subscribers
Never pay for any CBT, test or assessment as part of any recruitment process. When in doubt, contact us
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 Retai...
Job Purpose
To deliver on the annual audit plan thereby providing reasonable assurance to stakeholders that key risks are being mitigated through adequate and effective management controls in accordance with Group Internal Audit (GIA) methodology.
Each model audit assesses model design, model documentation, quality of model inputs and data, model implementation (usage) and model governance. It assesses the following models: Credit Risk Models, Market Risk Models, IFRS9, Pricing Models, Liquidity Risk Models, Pillar II Risk Models, Stress Testing Models, Regulatory & Economic Capital Models, Financial Crime Risk Models, Affordability Models/Tools.
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.
Minimum Experience Level
4- 7 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.
Extensive internal/external audit and / or risk management experience in banking
Actuarial and/or Market Risk experience.(e.g., engineering), or a Chartered Accountant with credit risk experience.
Essential Qualifications - NQF Level
Advanced Diplomas/National 1st Degrees
Preferred Qualification
Degree in Mathematics, Financial Mathematics, Statistics, Economics or Actuarial Science, or a quantitative discipline (e.g., engineering), or a Chartered Accountant with credit risk experience.
Preferred Certifications
Certified Information Systems Auditor (CISA) and optional Certified Internal Auditor (CIA)
Certified Internal Auditor (CIA) or Certified Information Systems Auditor (CISA) or Certified Financial Services Auditor (CFSA)
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
Build your CV for free. Download in different templates.
Join our happy subscribers