Description:

Location: Bengaluru

Corporate Title: AVP

Reporting to: Vice President Internal Audit

About the Role:

The AVP Internal Audit (Model Risk Management) will play a key role in delivering independent assurance over the effectiveness of the banks model risk management framework, governance, and control environment. The role involves supporting and leading model risk management audits across the end-to-end audit lifecycle including planning, fieldwork, testing, reporting, and issue validation while ensuring adherence to regulatory expectations and internal audit standards.

Key Responsibilities:

- Support and lead model risk management audit engagements, evaluating both the design and operating effectiveness of controls across governance, documentation, reporting, and monitoring frameworks.

- Participate in the full audit lifecycle, including scoping, risk assessment, fieldwork, and issue validation.

- Assess the adequacy of escalation processes, policy documentation, change management, and training within the model risk function.

- Maintain compliance with internal audit methodology, professional standards, and regulatory requirements.

- Identify key risks and controls, prepare detailed work programs, and document audit work clearly and comprehensively to support conclusions.

- Perform walkthroughs and interviews with stakeholders to gain an understanding of business processes and model governance practices.

- Evaluate control weaknesses, generate meaningful audit observations, and communicate findings and recommendations effectively to management.

- Validate remediation of audit issues and ensure sustainable control improvements.

- Support continuous improvement initiatives to enhance efficiency, quality, and consistency in audit execution.

- Contribute to a culture of integrity, accountability, and inclusion within the audit function.

Qualifications & Experience:

- Masters degree in Statistics, Mathematics, Economics, Financial Engineering, or a related quantitative discipline from a recognized university.

- Professional certifications such as CPA, CIA, or FRM are preferred (or willingness to pursue certification).

- Minimum of 7 years experience in internal audit or related roles within the financial services industry.

- Strong exposure to model risk management, issue validation, or quantitative audit functions.

- Deep understanding of model risk management regulations and expectations, particularly those applicable to U.S. and international banking environments.

- Ability to review, challenge, and validate quantitative models developed by first and second lines of defense.

- Proficiency with data analysis and modeling tools such as SAS, SQL, Python, R, C/C++, Excel VBA, and familiarity with machine learning, statistical modeling, Monte Carlo simulations, and regression analysis.

- Strong analytical, communication, and stakeholder-management skills.

- High attention to detail with a proactive and results-driven mindset.

- Ability to travel when required.

Personal Attributes:

- Strong problem-solving and critical-thinking skills.

- Excellent written and verbal communication with the ability to convey complex issues clearly.

- Professional integrity, independence, and objectivity.

- Adaptable and open to continuous learning.

- Demonstrates leadership and teamwork with the ability to mentor junior team members.

Equal Opportunity Statement:

We are an equal opportunity employer committed to creating a diverse and inclusive workplace. All qualified applicants will receive consideration for employment without regard to race, color, religion, gender, national origin, age, disability, or any other protected characteristic.