Audit Portfolio Manager: Model Risk

About the role

We are seeking an Audit Portfolio Manager specialising in Model Risk to join our internal audit team in Johannesburg. The role will support the annual audit plan by providing assurance that model‑related risks are effectively controlled across the Nedbank Group.

Key responsibilities

• Review model design, documentation, inputs, implementation and governance for each model under audit.
• Execute audit fieldwork according to the audit programme and document testing procedures.
• Engage with stakeholders to discuss audit findings and draft comprehensive audit reports, including executive summaries.
• Monitor corrective actions and follow‑up on identified control weaknesses.
• Attend risk committee meetings and interact with regulatory authorities on model‑related matters.
• Stay informed of emerging risk issues and best‑practice developments to enhance audit quality.

Required profile

• Degree in Business Mathematics, Statistics, Actuarial Science, Financial Engineering, Informatics or Quantitative Risk Management (major in Mathematics/Statistics required).
• 3‑5 years of experience in model development, testing, validation or quantitative risk audit, preferably within banking or financial services.
• Ability to work independently with minimal supervision.

Required skills

• Proficiency in SAS, SQL, R, VBA, Python and MATLAB.
• Knowledge of statistical, financial and quantitative risk methods.
• Understanding of credit, operational, market and liquidity risk models (Basel II framework).