Manager, Internal Audit - Modeling

Discover Financial Services - Riverwoods, IL (30+ days ago)4.0

At Discover Financial Services (DFS) you will find yourself in the company of some of the industry’s smartest and most reliable professionals. And at the company that rewards dedication, values innovation and supports growth. Thrive in an environment that promotes teamwork and shared success. Built on the foundation on mutual respect. Join the company that understands rewarding careers like no other.

The Internal Audit Consultant of advanced analytics & modeling is part of the Internal Audit Risk Modeling group that strive to deliver value-based advisory to executive leadership via outstanding cross-functional collaboration and effective risk management of new technologies and methodologies used for decision science and forecasting in Discover. This Internal Audit consultant is a quantitative specialist who is motivated to revolutionize model audit processes through the implementation of advanced analytic technologies and machine learning capabilities to drive strategic risk assurance. This role is assigned to a schedule of internal audit reviews where they will follow the DFS Internal Audit methodology and work closely with lead auditors and audit supervisors in providing subject matter expertise and assurance to the sound deployment of advanced analytics and modeling techniques in Discover.

The ideal candidate will possess strong communication, project management skills, a thorough understanding of applied statistics theory, as well as strong command of advanced analytic data mining/machine learning/optimization software packages including R, Python, SAS and SQL. Candidate must have significant hands-on experience managing and applying advanced analytics/predictive modeling techniques assess the best in class predictive models, and behavioral segmentation.

General Internal Audit Requirements:
  • Stay current with regulatory guidance and issuances, industry best practice, and business risk drivers that impact the state of the Model Risk Management framework to ensure that policy and procedures are adopted in a manner that minimizes model risk exposure consistent with company’s risk appetite.

  • Assess inherent and residual risks, and control environment with expertise in model risk management framework including model governance and model lifecycle management. Perform independent reviews of model validations and related model risk monitoring activities to ensure compliance with policy and procedures as well as consistency in ratings, approval decisions and documentation of supporting rationale

  • Contribute to the direction and focus of the Internal Audits activities through active engagement in risk assessment, audit planning, and continuous monitoring processes. Understanding the comprehensive vision on managing model risk and actively influence the Banks culture to exceed best practices on model hygiene.

  • Draft audit plans, develop audit tests, and lead audit execution for all applicable model risk management functions and activities. Identify and assess the impact of control deficiencies.

  • Prepare high quality audit deliverables including planning memoranda, audit programs, working papers, drafts of audit issues, and audit reports.

  • Ensure effective and efficient execution of audits in conformance with professional and departmental standards, budgets, and timelines.

  • Research relevant banking, regulation, risk management, and operational topics.

  • Maintain technical subject matter internal audit competency through ongoing professional development.

  • Perform other duties and/or special projects as assigned, such as IT, data, etc.

  • Promote a risk-aware culture, ensure efficient and effective risk and compliance management practices by adhering to required standards and processes

  • Demonstrate excellent verbal and written communication and exhibit strong partnering skills and ability to interact with various levels of management and external stakeholders

  • Foster a positive work environment by soliciting feedback from teammates

  • Demonstrate ability to leverage critical thinking and analytical skills

  • Flexibility to adapt to changing priorities or deliverables

  • Coach others to enhance their competence and professional development


Skills Required:
  • Master’s degree in Computer Science, Applied Mathematics, Engineering, Statistics, Operations Research, or related quantitative fields; Ph.D. a plus

  • 2+ years of hands on experience in machine learning (supervised, unsupervised and ensemble methods) or natural language processing or computer vision or deep learning experience

  • Experience with statistical modeling concepts, development, validation, or other related audit or compliance testing work

  • Proficiency in statistical and model development software packages and languages such as SQL, SAS, R, Python

  • Strong organizational skills with the ability to manage multiple reviews simultaneously with strong attention to detail, but ability to prioritize and escalate as appropriate.

  • Demonstrate good verbal and written communication and exhibit strong partnering skills and ability to interact with various levels of management and external stakeholders.

  • Flexibility to adapt to changing priorities or deliverables.

  • Practical experience in compliance, risk management activities, audit, or regulatory examinations helpful

  • Knowledge about model risk and associated regulatory requirements such as SR11-7/15-19 is preferred

  • Experience in Financial Services, Banking, Credit Card or Public Accounting preferred

  • Individuals that have achieved professional credentials, or working toward professional certification preferred (CIA, CAMS, CRMC, CPA, CISA, or other relevant certification)


We are an Equal Opportunity Employer and do not discriminate against any employee or applicant for employment because of race, color, sex, age, national origin, religion, sexual orientation, gender identity, status as a veteran, and basis of disability or any other federal, state or local protected class.