Internal Auditor (Model Risk)

SUMMARY:
We are currently recruiting an Internal Auditor with deep experience in model risk, particularly across wholesale credit, market risk, and retail scorecard models.

POSITION INFO:
Are you a detail-oriented audit professional with a passion for quantitative models and a solid understanding of risk in the banking sector?

This role offers a unique opportunity to work within a high-performing audit team, reviewing critical models used for regulatory and business decision-making. You'll gain exposure across African markets, contribute to model governance improvement, and help shape the institution's approach to managing model risk effectively.

Duties:

• Conduct independent audits on internal models, covering development, validation, implementation, and ongoing monitoring.
• Assess governance and control processes around model lifecycle management.
• Evaluate regulatory compliance of credit and market risk models submitted to supervisory authorities.
• Perform in-depth reviews of application scorecards, probability of default (PD) models, stress testing frameworks, and capital adequacy models (ICAAP).
• Provide assurance on model risk related to regulatory change initiatives (e.g., FRTB-SA, BA-CVA).
• Engage with business and risk stakeholders across African subsidiaries to ensure strong control environments.

• Matric (Grade 12)
• Bachelor’s degree in Quantitative Finance, Risk Management, Actuarial Science, or related field. Postgraduate qualification or certifications (e.g. FRM, CFA, CIA) are a plus.

• 3 - 5 years' experience in internal audit, model risk, or validation in financial services.
• Strong understanding of credit and market risk modelling, regulatory expectations, and model governance frameworks.
• Experience working across diverse jurisdictions and exposure to retail and wholesale banking models.
• Strong analytical thinking, attention to detail, and excellent communication skills.

• Contribute to the oversight of cutting-edge risk models in a top-tier banking environment.
• Engage with model developers, validators, and regulators on complex, high-impact topics.
• Build your expertise in quantitative risk, model governance, and regulatory audits.
• Be part of a collaborative, growing audit team that values learning, rigour, and strategic thinking.

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