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Internal Auditor - Counterparty Credit Risk

Company: UBS
Location: Weehawken
Posted on: January 16, 2022

Job Description:

Job Reference #240302BRCityCharlotte, Columbus, Jacksonville, New York, Raleigh, Richmond, Stamford, Tampa, WeehawkenJob TypeFull Time Your roleAre you a sharp evaluator of credit risk? Can you investigate complex situations and propose solutions? We're looking for someone like that who can:--- conduct reviews and audits of (i) counterparty credit risk including over the counter, exchange traded derivatives and securities financing transactions, (ii) 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), (iii) collateralized financings and (iv) risk data aggregation and reporting--- provide knowledge of (i) probability of default, loss given default and expected loss and related regulatory requirements (i.e. A-IRB approach) and (ii) CCR exposure and methodology (such as exposure simulation techniques, stress testing and back testing etc)--- share understanding of the differing regulatory approaches for calculating exposure at default (EAD) using internal model methodology (IMM&REPO VAR), current exposure method (CEM) and the standardized approach--- 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 functionsYour Career ComebackWe are open to applications from career returners. Find out more about our program on ubs.com/careercomeback.Your teamYou 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 four year bachelor's degree or the international equivalent--- ideally 5 years' experience 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*LI-UBS*UBS-MOGULAbout usUBS 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 usFrom gaining new experiences in different roles to acquiring fresh knowledge and skills, at UBS 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 StatementsUBS 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.Country / State: United States - Connecticut, United States - Florida, United States - New Jersey, United States - New York, United States - North Carolina, United States - Ohio, United States - VirginiaFunction Category: AuditBusiness Divisions: Group Functions

Keywords: UBS, New York , Internal Auditor - Counterparty Credit Risk, Accounting, Auditing , Weehawken, New York

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