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About the Role
Internal Audit helps CIBC strengthen trust, accountability, and sound risk management across the bank. As an Audit Manager I, Model Risk, you’ll execute model risk audit programs and assess whether controls are designed and operating effectively in alignment with internal policies, industry best practices, and regulatory requirements, including SR 26-2. You’ll perform audit testing, document clear and well-supported results, and communicate findings, themes, and recommendations to management and risk partners in a timely way. In this role, you’ll apply your understanding of model risk and the broader risk and control environment to evaluate complex issues, identify opportunities to strengthen business processes, and escalate critical concerns when needed. You’ll also build strong relationships with business partners, contribute to a positive risk culture, and continue growing your knowledge of risk management disciplines, audit practices, and evolving regulatory expectations.
Responsibilities
- Execute model risk audit programs by performing testing, assessing control design and effectiveness, and providing timely, meaningful feedback to management.
- Identify control gaps, emerging themes, and best practices that can improve business partner operations and strengthen the bank’s control environment.
- Document audit work, results, and conclusions clearly and accurately to support findings and ensure a complete audit trail.
- Communicate risks, issues, and status updates to key stakeholders and risk partners, and escalate critical or high-risk matters to the appropriate leadership team.
- Build collaborative, respectful relationships with business partners to foster cooperation and support a strong, positive risk culture.
- Proactively pursue training, exposure, and development opportunities to deepen your expertise in model risk management, audit methodology, industry practices, and regulatory requirements.
Requirements
- At least 3 years of relevant experience in the financial services industry, including model risk audit, model development, or model validation experience.
- Experience reviewing or assessing complex models in a regulated environment.
- Demonstrated experience in Python, SAS, or R.
- Ability to manage multiple priorities with care, exercise strong judgment in complex situations, and apply critical thinking to support high-quality, well-supported audit outcomes.
- Must be legally eligible to work at the specified location(s) and, where applicable, must have a valid work or study permit.
- May be asked to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office).
Skills
- Analytical Thinking
- Audit Management
- Business
- Integrated Audits
- Internal Controls
- Interpersonal Communication
- Quantitative Analytics
- Quantitative Models
- Quantitative Risk
- Risk Management and Mitigation
- Python
- SAS
- R
Location
- NY-New York, 300 Madison Ave Fl 6
Work Type
- Hybrid work arrangement (2+ days per week on-site)
- Regular
- Full-time
Experience Level
- 3+ years of relevant experience
Education Level
- Degree in a quantitative field such as Statistics, Financial Engineering, Physics, Economics, Mathematics, or Data Science.
- Doctoral degree in a quantitative discipline is an asset.
Salary/Compensations
- $140,000 USD - $160,000 USD
Benefits
- Medical
- Dental
- Vision
- Health Savings Account
- Life Insurance
- Disability
- Other Insurance Plans
- Paid Time Off (including Sick Leave, Parental Leave and Vacation)
- Holidays
- 401(k)
- Competitive salary
- Incentive pay
- Banking benefits
- A benefits program
- Vacation offering
- Wellbeing support
- MomentMakers recognition program
- Purpose Day (paid day off for growth and development)
About the Company
- CIBC is building a relationship-oriented bank for the modern world.
- At CIBC, team members are empowered at work, have what they need to make a meaningful impact, and are truly valued for who they are and what they contribute.
- CIBC offers a competitive total rewards package.
- CIBC offers a full range of benefits and programs to meet employee needs.
- CIBC aspires to give employees a career, rather than just a paycheck.
- CIBC works to recognize employees in meaningful, personalized ways.
- CIBC spaces and technological toolkit make it simple to bring together great minds to create innovative solutions.
- CIBC cultivates a culture where ambition can be expressed through initiatives like Purpose Day.
Equal Opportunity
- CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong.
- CIBC seeks applicants with a wide range of abilities and provides an accessible candidate experience.
- If you need accommodation, please contact Mailbox.careers-carrieres@cibc.com.