Internal Auditor (Model Risk)
Job Location
Johannesburg, South Africa
Job Description
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. Job Experience & Skills Required: Qualifications: Matric (Grade 12) Bachelors degree in Quantitative Finance, Risk Management, Actuarial Science, or related field. Postgraduate qualification or certifications (e.g. FRM, CFA, CIA) are a plus. Experience: 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. Skills & Competencies: 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. If you have not had any response in two weeks, please consider the vacancy application unsuccessful. Your profile will be kept on our database for any other suitable roles / positions.
Location: Johannesburg, ZA
Posted Date: 7/11/2025
Location: Johannesburg, ZA
Posted Date: 7/11/2025
Contact Information
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