Internal Auditor -Counterparty Credit Risk
- Recruiter
- UBS
- Location
- New York, Stamford, Weehawken, United States - Connecticut, United States - New Jersey, United States - New York
- Salary
- Competitive salary
- Posted
- 24 Jun 2022
- Closes
- 02 Jul 2022
- Ref
- 253223BR
- Approved employers
- Approved employer
- Job role
- Audit, Compliance/risk, Internal audit
- Sector
- Accounting - Public practice
Your role
Are you a sharp evaluator of credit risk? Can you investigate complex situations and propose solutions? We're looking for an Internal Auditor with Counterparty Credit Risk to:
• conduct reviews and audits of (i) probability of default, loss given default and expected loss; (ii) counterparty credit risk including over the counter, exchange traded derivatives and securities financing transactions, (iii) credit risk management across Financial Institutions (FI), Non-Banks Financial Institutions (NBFI) such as insurance companies, broker dealers, regulated and unregulated funds and Central Counterparties (including, limit setting, excess management and quality of the credit documentation), (iv) collateralized financings and (v) risk data aggregation and reporting
• identify and evaluate the design effectiveness of controls designed to address those risks and independently conduct high quality tests to demonstrate operating effectiveness
• provide practical, innovative, and value-added solutions to issues identified
• provide high quality input into the continuous risk assessment processes, identifying areas of increasing and emerging risks
• monitor issue resolution, risk profile and developments within a specific area and provide input into our audit planning
• analyze and assess credit risks assumed by both the business and support functions
Your team
You will be working in the Group Internal Audit team. GIA's role, as an independent function, is to support UBS in achieving its strategic, operational, financial and compliance objectives. We do this by assessing key processes as well as governance, risk management and the control environment within all business divisions and Group Functions globally. We are independent in our work and report directly to the Chairman of the Board of Directors and the Audit Committee.
We are a talent powerhouse that attracts and develops the best people by driving career growth in and outside the department. Our team is responsible for auditing the credit related risks across the group. You will be directly involved in UBS firm-wide credit risk related audits and periodically assist our colleagues in other GIA teams.
Diversity helps us grow, together. That's why we are committed to fostering and advancing diversity, equity, and inclusion. It strengthens our business and brings value to our clients.
Your expertise
• a university degree
• ideally 5 years in credit risk focusing on counterparty credit risk and FI and NBFI sectors. This experience could have been gained at a major financial institution, consulting firm or in an internal audit function.
• a detailed understanding of banking operations and regulations (e.g., A-IRB, Basel II and III, IMM & Repo VAR, Concentration risk management) as well a quantitative approach to problem solving
• a good understanding of (i) over the counter, exchange traded, securities financing transactions and collateralized lending, (ii) PD&LGD and IMM&REPO VAR models and (iii) Concentration risks including correlation and contagion risks
• strong audit experience, preferably in an internal audit function of a comparable financial institutions
• good data analytical skills and willingness to keep up with industry, regulatory developments and learn new concepts and methods
• excellent command of written and spoken English; additional languages, especially German, are a plus
• reliable when working independently, with sound judgment to determine when to escalate issues
• risk focused, and capable of using data analytics to gain insights into transactions and clients
About us
UBS is the world's largest and only truly global wealth manager. We operate through four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. Our global reach and the breadth of our expertise set us apart from our competitors.
With more than 70,000 employees, we have a presence in all major financial centers in more than 50 countries. Do you want to be one of us?
Join us
At UBS, we embrace flexible ways of working when the role permits. We offer different working arrangements like part-time, job-sharing and hybrid (office and home) working. Our purpose-led culture and global infrastructure help us connect, collaborate, and work together in agile ways to meet all our business needs.
From gaining new experiences in different roles to acquiring fresh knowledge and skills, we know that great work is never done alone. We know that it's our people, with their unique backgrounds, skills, experience levels and interests, who drive our ongoing success. Together we're more than ourselves. Ready to be part of #teamUBS and make an impact?
Disclaimer / Policy Statements
UBS is an Equal Opportunity Employer. We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences within our workforce.
Are you a sharp evaluator of credit risk? Can you investigate complex situations and propose solutions? We're looking for an Internal Auditor with Counterparty Credit Risk to:
• conduct reviews and audits of (i) probability of default, loss given default and expected loss; (ii) counterparty credit risk including over the counter, exchange traded derivatives and securities financing transactions, (iii) credit risk management across Financial Institutions (FI), Non-Banks Financial Institutions (NBFI) such as insurance companies, broker dealers, regulated and unregulated funds and Central Counterparties (including, limit setting, excess management and quality of the credit documentation), (iv) collateralized financings and (v) risk data aggregation and reporting
• identify and evaluate the design effectiveness of controls designed to address those risks and independently conduct high quality tests to demonstrate operating effectiveness
• provide practical, innovative, and value-added solutions to issues identified
• provide high quality input into the continuous risk assessment processes, identifying areas of increasing and emerging risks
• monitor issue resolution, risk profile and developments within a specific area and provide input into our audit planning
• analyze and assess credit risks assumed by both the business and support functions
Your team
You will be working in the Group Internal Audit team. GIA's role, as an independent function, is to support UBS in achieving its strategic, operational, financial and compliance objectives. We do this by assessing key processes as well as governance, risk management and the control environment within all business divisions and Group Functions globally. We are independent in our work and report directly to the Chairman of the Board of Directors and the Audit Committee.
We are a talent powerhouse that attracts and develops the best people by driving career growth in and outside the department. Our team is responsible for auditing the credit related risks across the group. You will be directly involved in UBS firm-wide credit risk related audits and periodically assist our colleagues in other GIA teams.
Diversity helps us grow, together. That's why we are committed to fostering and advancing diversity, equity, and inclusion. It strengthens our business and brings value to our clients.
Your expertise
• a university degree
• ideally 5 years in credit risk focusing on counterparty credit risk and FI and NBFI sectors. This experience could have been gained at a major financial institution, consulting firm or in an internal audit function.
• a detailed understanding of banking operations and regulations (e.g., A-IRB, Basel II and III, IMM & Repo VAR, Concentration risk management) as well a quantitative approach to problem solving
• a good understanding of (i) over the counter, exchange traded, securities financing transactions and collateralized lending, (ii) PD&LGD and IMM&REPO VAR models and (iii) Concentration risks including correlation and contagion risks
• strong audit experience, preferably in an internal audit function of a comparable financial institutions
• good data analytical skills and willingness to keep up with industry, regulatory developments and learn new concepts and methods
• excellent command of written and spoken English; additional languages, especially German, are a plus
• reliable when working independently, with sound judgment to determine when to escalate issues
• risk focused, and capable of using data analytics to gain insights into transactions and clients
About us
UBS is the world's largest and only truly global wealth manager. We operate through four business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management and the Investment Bank. Our global reach and the breadth of our expertise set us apart from our competitors.
With more than 70,000 employees, we have a presence in all major financial centers in more than 50 countries. Do you want to be one of us?
Join us
At UBS, we embrace flexible ways of working when the role permits. We offer different working arrangements like part-time, job-sharing and hybrid (office and home) working. Our purpose-led culture and global infrastructure help us connect, collaborate, and work together in agile ways to meet all our business needs.
From gaining new experiences in different roles to acquiring fresh knowledge and skills, we know that great work is never done alone. We know that it's our people, with their unique backgrounds, skills, experience levels and interests, who drive our ongoing success. Together we're more than ourselves. Ready to be part of #teamUBS and make an impact?
Disclaimer / Policy Statements
UBS is an Equal Opportunity Employer. We respect and seek to empower each individual and support the diverse cultures, perspectives, skills and experiences within our workforce.