Audit Manager, Market Risk

London , United Kingdom
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Ref: 56185 Contract: Full-Time Posted:

This job posting is no longer active

We're hiring an Audit Manager for Market Risk, based in London

  • This is an opportunity for someone with experience in an internal audit role coupled with a strong background in risk management and knowledge of market risk to join our Internal Audit function
  • You'll confidently deliver large scale audits and play a significant part in embedding a culture of proactive and responsible risk management
  • You'll have the opportunity to work as part of a vital team, developing your specialist knowledge in this area
  • Applications for this vacancy open on 27 March 2017, and close on 25 April 2017

What you'll do

This important role will place you at the heart of the bank’s third line of defence, providing independent, objective testing and assurance. You’ll work with the Senior Audit Manager and business stakeholders to scope out audits, developing your understanding of the business’s key risks and controls and formulating an appropriate and robust testing plan, before leading your engagement team in its execution. You'll succeed in this role by:

  • Leading your team through the engagement stage, effectively managing work and resources, and setting standards of excellence
  • Delivering sometimes complex audits on time and to budget, and to an excellent standard
  • Leading the production of high quality written reports which detail any issues identified
  • Contributing to managing the discussion with key business stakeholders, leading to final issue acceptance and remediation
  • Providing robust, challenging insight on market risk, and BCBS 239 compliance for market risk. In addition you will also provide assistance on non-market risk audits, model build and validation, counterparty credit risk, stress testing, ICAAP and Pillar 3 reporting
  • A strong knowledge of IT systems to support market risk management will be highly desirable. This includes experience of exposure analysis tools and exposure limit management tools
  • An understanding of how market risk exposure numbers are used for internal risk management as well as how regulatory capital calculations are made.
  • Building and developing key relationships at senior levels in the organisation

The skills you'll need

We’re looking for a strong, established internal auditor or outstanding risk manager, with a thorough grounding in risk management principles, analytical thinking capability, and a meticulously investigative approach. As you'll be acting as a subject matter expert in this field, you'll need expert knowledge of market risk and a working knowledge of relevant areas of regulation – for example Basel 2 & 3, CRD IV, CRR, Volcker and FRTB. You'll also need an understanding of how risk weighted assets are derived for regulatory capital calculation purposes under both standardised and advanced (IMA) approaches as well as regulatory expectations around other aspects of the risk management framework, such as measurement of risks not in VaR (RNiV’s), back testing, stress testing and Risk Reporting. We'll also expect:

  • Familiarity with current market risk practices and risk mitigation techniques
  • Strong understanding of traded products and the associated market risks
  • Knowledge of the organisation of a Trading business, including the role of Front Office, Model Risk, Product Control, Operations and Risk Reporting
  • Experience leading teams in delivering complex projects – audit or otherwise – while keeping a firm hand on budget, schedule and quality
  • Strong interpersonal, verbal and written communication skills, including excellent report writing
  • The ability to support and supervise your team through coaching, feedback and development, taking a proactive approach towards identifying and promoting talent
  • Strong management stakeholder skills, and to be confident and clear when you need to challenge or influence

How we'll reward you

In return, we offer a competitive salary plus 30% cash and benefit funding programme that can be tailored to suit your individual needs. In addition, we provide a wide selection of exclusive lifestyle offers, development and learning programmes, services and support designed to help you manage and balance your work/life priorities.

For more information on our benefits, please visit our website.


At RBS, we want everyone to feel welcome, regardless of your background or needs. If you need adjustments making to your working environment, we’ll do everything we can to support you. As part of this commitment, we offer flexible working options for some of our roles, find out more here.

As a Financial Services organisation we comply with and support the requirements set by our Regulator, the Financial Conduct Authority (FCA), which are designed to protect our customers. This role falls under Conduct Rules of the Individual Accountability Regime (IAR) and is subject to pre-employment screening. This means if your application is successful, you’ll need to satisfy some important background checks before you can start working with us. These will include a full credit check, a criminal record check, residency and right to work checks.

Audit Manager, Market Risk

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