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Model Risk Audit Methodology Specialist

🕒 25 days ago
📍 🇭🇺 Budapest - Hybrid🎹 Mid-level📅 Project Manager💼 Full-Time
Model Risk ManagementInternal AuditAudit MethodologyQuality Assurance
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📜 Description

  • Support the QAG team in developing and enhancing audit methodology and quality assurance guidance related to Model Risk.
  • Translate regulatory requirements and internal audit standards into practical audit guidance and testing procedures.
  • Develop and maintain audit test plans covering Model Risk Management frameworks and controls.
  • Create quality review checklists and audit documentation standards.
  • Prepare training materials and facilitate training sessions for internal audit practitioners.

🛠️ Requirements

  • Model Risk Management;
  • Model Validation;
  • Internal Audit methodology;
  • Audit planning and risk assessment;
  • Risk-based testing;
  • Control design adequacy and operating effectiveness testing.
  • Demonstrated experience translating regulatory and Model Risk expectations into practical audit procedures, testing methodologies, sampling approaches, planning tools, and review documentation.
  • Strong knowledge of financial services regulatory expectations related to Model Risk Management, including relevant FRB guidance and emerging AI governance principles.
  • Experience developing audit test plans, audit procedures, workpapers, and quality review checklists.
  • Familiarity with AI and GenAI applications in audit testing, Model Risk assessment, or control evaluation.
Full job description
Founded in 1999 in Vienna, the Qualysoft Group is a manufacturer-independent IT consulting and services company, which successfully provides support for its international customers with the aim of boosting their competitiveness and economic efficiency through innovative IT solutions.

Its focus is on financial services providers, telecommunications companies, the automotive industry and energy service providers. Over 400 employees in 6 subsidiaries work together to ensure state of the art solutions for our clients.

We are looking for new colleagues in Qualysoft teams for diverse projects providing continuous learning opportunities. Our common goal is to provide honesty, development and a stable background while getting to know the latest technologies. We are waiting for your application for the position below!
Founded in 1999 in Vienna, the Qualysoft Group is a manufacturer-independent IT consulting and services company, which successfully provides support for its international customers with the aim of boosting their competitiveness and economic efficiency through innovative IT solutions. Its focus is on financial services providers, telecommunications companies, the automotive industry and energy service providers. Over 400 employees in 6 subsidiaries work together to ensure state of the art solutions for our clients. We are looking for new colleagues in Qualysoft teams for diverse projects providing continuous learning opportunities. Our common goal is to provide honesty, development and a stable background while getting to know the latest technologies. We are waiting for your application for the position below! Why we think you will love working here: With us you count as a person, our doors are always open. We live the Qualysoft Team Spirit and stand for transparency! Fresh wind and new ideas are welcome, because standstill is a foreign word at Qualysoft.

Responsibilities:

  • Support the QAG team in developing and enhancing audit methodology, quality assurance guidance, and practitioner materials related to Model Risk.
  • Translate regulatory requirements, internal audit standards, and QA expectations into practical audit guidance, templates, workpapers, and testing procedures.
  • Develop and maintain audit test plans and procedures covering the design adequacy and operating effectiveness of Model Risk Management frameworks and controls.
  • Create quality review checklists, sampling approaches, planning tools, and audit documentation standards.
  • Support the development of risk-based testing methodologies for Model Risk audits.
  • Review and incorporate relevant financial services regulatory expectations, including Model Risk Management guidance and emerging AI and GenAI governance principles.
  • Develop practical guidance on the use of GenAI-enabled and prompt-based approaches to support audit testing and Model Risk assessments.
  • Prepare training materials and facilitate training sessions for internal audit practitioners and audit teams.
  • Coordinate with stakeholders across Internal Audit, QAG/QA, Business, First Line, Second Line, Risk, and Technology functions.
  • Support internal audit, quality assurance, and regulatory remediation initiatives related to Model Risk.
  • Contribute subject matter expertise to the continuous improvement of Model Risk audit methodology and quality standards.

    • Requirements:

  • Minimum of 5 years of experience in Model Risk within Internal Audit in the financial services industry.
  • Minimum of 4 years of experience developing audit methodology, QA guidance, practitioner materials, training materials, or audit templates related to Model Risk.
  • Strong understanding of:
    • Model Risk Management;
    • Model Validation;
    • Internal Audit methodology;
    • Audit planning and risk assessment;
    • Risk-based testing;
    • Control design adequacy and operating effectiveness testing.
    • Demonstrated experience translating regulatory and Model Risk expectations into practical audit procedures, testing methodologies, sampling approaches, planning tools, and review documentation.
    • Strong knowledge of financial services regulatory expectations related to Model Risk Management, including relevant FRB guidance and emerging AI governance principles.
    • Experience developing audit test plans, audit procedures, workpapers, and quality review checklists.
    • Familiarity with AI and GenAI applications in audit testing, Model Risk assessment, or control evaluation.
    • Experience supporting Internal Audit, Quality Assurance, or regulatory remediation programs is preferred.
    • Strong written communication skills, with the ability to produce clear and practical guidance for audit practitioners.
    • Strong facilitation and presentation skills, with experience delivering training or knowledge-sharing sessions.
    • Ability to work effectively across multiple stakeholder groups, including Audit, Business, First Line, Second Line, QA, Risk, and Technology teams.
    • Apply Now

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