Hybrid Internal Audit Manager – Model Risk

at Absa Group

• Job title: Internal Audit Manager – Model Risk
• Job type: Full Time
• Experience level: Mid level, Senior
• Salary: Not specified
• Degree requirement: Bachelor's Degree
• Tech skills: Python, SQL
• Location requirements: Hybrid, Johannesburg, South Africa

About the role

• Internal Audit Manager for Model Risk overseeing audits and compliance in a financial services environment. Leading complex audit executions and enhancing audit methodology within the organization.

Responsibilities

• Lead end‑to‑end delivery of complex model risk audits, taking full accountability for audit scoping, planning, execution, and reporting.
• Oversight and review of detailed audit testing, critical assessment of model documentation and evidence.
• Clearly articulate defensible conclusions for senior management, risk committees, and executive forums.
• Evolve the Internal Audit model risk capability, strengthen audit methodology, and ensure alignment with emerging regulatory expectations, industry best practice, and advances in modelling techniques (including advanced analytics and machine learning).
• Provide assurance over the Model Risk Management Framework , policies, standards, procedures, and governance forums.

Requirements

• Minimum of 5–8 years’ experience in internal audit, model risk management, model validation, quantitative risk, or a related function within a financial services environment.
• Proven expertise in model risk management frameworks and regulatory expectations applicable to financial models (e.g. credit risk, capital, stress testing, valuation, or IFRS 9 models).
• Demonstrated experience reviewing, validating, or auditing models, including PD/LGD/EAD , capital models, stress testing models, or advanced analytics models.
• Strong understanding of model governance, documentation standards, and regulatory guidance (e.g. Basel, IFRS 9, SR 11‑7–type principles).
• Proficiency in data analysis and model interrogation using tools such as SAS, SQL, Python/R, or Excel ; ability to interpret model outputs and validation evidence is essential.
• Track record of engaging with and influencing senior management, risk committees, and executive stakeholders .
• Solid grounding in internal audit methodology, risk‑based assurance, and professional judgement.
• Bachelor`s Degrees and Advanced Diplomas: Business, Commerce and Management Studies (Required).

Benefits

• Health insurance
• Professional development opportunities