Audit Manager, Model Risk

New York, NY

Chicago, IL

Full time

2622957

We’re building a relationship-oriented bank for the modern world. We need talented, passionate professionals who are dedicated to doing what’s right for our clients.

At CIBC, we embrace your strengths and your ambitions, so you are empowered at work. Our team members have what they need to make a meaningful impact and are truly valued for who they are and what they contribute.

To learn more about CIBC, please visit CIBC.com (https://www.cibc.com/en/about-cibc.html)

What you'll be doing

Internal Audit helps CIBC strengthen trust, accountability, and sound risk management across the bank. As an Audit Manager I, Model Risk, you’ll execute model risk audit programs and assess whether controls are designed and operating effectively in alignment with internal policies, industry best practices, and regulatory requirements, including SR 26-2. You’ll perform audit testing, document clear and well-supported results, and communicate findings, themes, and recommendations to management and risk partners in a timely way. In this role, you’ll apply your understanding of model risk and the broader risk and control environment to evaluate complex issues, identify opportunities to strengthen business processes, and escalate critical concerns when needed. You’ll also build strong relationships with business partners, contribute to a positive risk culture, and continue growing your knowledge of risk management disciplines, audit practices, and evolving regulatory expectations.

At CIBC we enable the work environment most optimal for you to thrive in your role. You’ll have the flexibility to manage your work activities within a hybrid work arrangement where you’ll spend 2+ days per week on-site, while other days will be remote .

How you'll succeed

• Audit execution - Execute model risk audit programs by performing testing, assessing control design and effectiveness, and providing timely, meaningful feedback to management.

• Risk assessment - Identify control gaps, emerging themes, and best practices that can improve business partner operations and strengthen the bank’s control environment.

• Reporting and documentation - Document audit work, results, and conclusions clearly and accurately to support findings and ensure a complete audit trail.

• Stakeholder communication - Communicate risks, issues, and status updates to key stakeholders and risk partners, and escalate critical or high-risk matters to the appropriate leadership team.

• Relationship management - Build collaborative, respectful relationships with business partners to foster cooperation and support a strong, positive risk culture.

• Continuous learning - Proactively pursue training, exposure, and development opportunities to deepen your expertise in model risk management, audit methodology, industry practices, and regulatory requirements.

Who you are

• You have relevant experience. You bring at least 3 years of relevant experience in the financial services industry, including model risk audit, model development, or model validation experience. Experience reviewing or assessing complex models in a regulated environment will help you succeed in this role.

• You give meaning to data. You enjoy investigating complex problems, assessing model-related risks, and drawing thoughtful conclusions based on evidence. You communicate detailed information in a clear and meaningful way.

• You can demonstrate experience in Python, SAS, or R. It’s an asset if you have advanced experience applying these tools in model development, validation, or audit testing.

• You have a degree in a quantitative field such as Statistics, Financial Engineering, Physics, Economics, Mathematics, or Data Science. It’s an asset if you have a doctoral degree in a quantitative discipline.

• You're motivated by collective success. You build effective working relationships, communicate with confidence, and collaborate with partners and stakeholders to move work forward in a thoughtful and professional way.

• You know that details matter. You manage multiple priorities with care, exercise strong judgment in complex situations, and apply critical thinking to support high-quality, well-supported audit outcomes.

• You live your values. You bring high standards, genuine care to your relationships, and want to grow with an employer that shares your values and brings out your best.

At CIBC, we offer a competitive total rewards package. This role has an expected salary range of $140,000 USD - $160,000 USD for the market based on experience, qualifications, and location of the position. The successful candidate may be eligible to participate in the relevant business unit’s incentive compensation plan, which may also include a discretionary bonus component. CIBC offers a full range of benefits and programs to meet our employee’s needs; including Medical, Dental, Vision, Health Savings Account, Life Insurance, Disability, and Other Insurance Plans, Paid Time Off (including Sick Leave, Parental Leave and Vacation), Holidays and 401(k), in addition to other special perks reserved for our team members. #LI-TA

This position is not available for Visa sponsorship.

What CIBC Offers

At CIBC, your goals are a priority. We start with your strengths and ambitions as an employee and strive to create opportunities to tap into your potential. We aspire to give you a career, rather than just a paycheck.

• We work to recognize you in meaningful, personalized ways including a competitive salary, incentive pay, banking benefits, a benefits program*, a vacation offering, wellbeing support, and MomentMakers, our social, points-based recognition program.

• Our spaces and technological toolkit will make it simple to bring together great minds to create innovative solutions that make a difference for our clients.

• We cultivate a culture where you can express your ambition through initiatives like Purpose Day; a paid day off dedicated for you to use to invest in your growth and development.

*Subject to plan and program terms and conditions

What you need to know

• CIBC is committed to creating an inclusive environment where all team members and clients feel like they belong. We seek applicants with a wide range of abilities and we provide an accessible candidate experience. If you need accommodation, please contact [email protected]

• You need to be legally eligible to work at the location(s) specified above and, where applicable, must have a valid work or study permit.

• We may ask you to complete an attribute-based assessment and other skills tests (such as simulation, coding, MS Office). Our goal for the application process is to get to know more about you, all that you have to offer, and give you the opportunity to learn more about us.

California residents — your privacy rights regarding your actual or prospective employment (https://us.cibc.com/en/privacy-security/california-consumer-privacy-act-employment.html)

Job Location

NY-New York, 300 Madison Ave Fl 6

Employment Type

Regular

Weekly Hours

40

Skills

Analytical Thinking, Audit Management, Business, Integrated Audits, Internal Controls, Interpersonal Communication, Quantitative Analytics, Quantitative Models, Quantitative Risk, Risk Management and Mitigation

At CIBC, we are in business to help our clients, employees and shareholders achieve what is important to them. Our ability to create value for all CIBC stakeholders is driven by a business culture based on common values: Trust, Teamwork and Accountability.

Working with CIBC makes you a part of a work environment committed to our clients, employees and communities - a place where you can excel.

Every day, our 48,000 employees help our clients achieve their financial goals, because what matters to our clients, matters to us.