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Audit Manager - Credit & Model Risk

  • Contract: Permanent
  • Reference: R00AOR04120
  • Closing Date: 16 July 2024
  • We're happy to consider flexible working approaches for this role
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We have an exciting opportunity for an Audit Manager to join our award-winning team as a Credit & Model Risk auditor. You will use your knowledge of credit and model risk to deliver high quality, impactful audit reports, under the direction and mentorship of our Audit Senior Managers. In return you will be given the opportunity to develop both technical knowledge and audit specific experience.

If you have a good understanding of auditing credit or model risk and/or practical 1st or 2nd Line experience relating to credit risk management and models, this might be your next role!

Why Internal Audit:

Internal Audit (IA) are a 100+ strong function with backgrounds in everything from Financial Crime and Compliance to IT and Retail. We use our expertise, critical thinking and experience to complete internal audits across the whole Society.

We work in a fast paced, customer-focused, and friendly environment and have an unmatched opportunity to interact with and add value to the largest building society in the world.

At Nationwide we offer hybrid working wherever possible. More rewarding relationships are supported through our hybrid approach, bringing colleagues together across our UK wide estate, whilst also supporting generous access to home working. We value our time in the office to solve problems, to learn, and to feel connected.

For this job you'll spend at least two days per week, or if part time you'll spend 40% of your working time, at one of our offices. If your application is successful, your hiring manager will provide further details on how this works. You can also find out more about our approach to hybrid working here.

If we receive a high volume of relevant applications, we may close the advert earlier than the advertised date, so please apply as soon as you can.

What you’ll be doing

You will be working in our Central Functions delivery team to identify risks, test controls, and support the delivery of credit and model risk related audits. Using your communication and influencing skills, you will present your observations and findings to other audit team members and audit management to agree the actions required.

We use flexible auditing techniques to support efficient delivery of audits, maximise the value of audit work and build effective relationships with stakeholders. Your understanding of the model lifecycle will be used in spotting areas for improvement in the focus and/or efficiency of the team’s work, whilst your influencing skills will be called into action in presenting these potential improvements to Internal Audit’s senior leadership team.

About you

As a minimum, you will have:

  • The ideal candidate will have a background in credit or model risk with a growth mindset to learn and develop.
  • Significant knowledge and experience of retail secured and unsecured credit risk, from decisioning through to forbearance. You will be an SME who can lead the way!
  • A strong understanding of the key risks arising, and the controls required, throughout the model lifecycle. Additionally, knowledge of the regulatory requirements applicable to model risk management and various model types e.g., capital (IRB), provisioning (IFRS9), and stress testing.
  • Strong organisational and planning skills to support deliverables of varying complexity, covering model and credit risk related activities.
  • Confidence influencing others and building professional business relationships during an audit, showing your proven collaboration, and negotiating skills.
  • A tenacious, positive and brave approach to overcome potential barriers with the confidence that you will always be supported to be your most productive and best self.
  • A relevant professional qualification or academic background.
  • Experience of auditing or risk management in a financial services environment.

Our Customer First behaviours are all about putting customers and members at the heart of how we work together. You can strengthen your application by showing the behaviours that resonate with you, and how you might have already demonstrated these.

  • Say it straight - This is about being honest and direct with good intent and saying what needs to be said in the room. It’s also about being clear, precise, and using language that we and, importantly, our customers and members can understand.
  • Push for better - This is about aiming high and constantly looking for better in how we work together and serve our customers and members.
  • Get it done - This is about prioritising what will have the greatest impact, being decisive and taking accountability for delivering on the end-to-end outcome.

We know applying for jobs can sometimes feel like you’re sending an application into a black hole. We review each application individually. So, it’s a good idea to call out your most relevant experience on your application to give yourself the best chance.

The extras you’ll get

There are all sorts of employee benefits available at Nationwide, including:

  • A personal pension – if you put in 7% of your salary, we’ll top up by a further 16%
  • Up to 2 days of paid volunteering a year
  • Life assurance worth 8x your salary
  • A great selection of additional benefits through our salary sacrifice scheme
  • Wellhub – Access to a range of free and paid options for health and wellness.
  • Access to an annual performance related bonus
  • Access to training to help you develop and progress your career
  • 25 days holiday, pro rata

What makes us different

Nationwide is the world’s largest building society. With over 15 million customers, we have a relationship with almost a quarter of the UK’s population. We’ve got the scale to compete with the big banks, but we’re not a bank.

As a building society, we’re owned by our members – that’s our customers who have their current account, mortgage or savings with us. It means we can do things differently to deliver our Purpose – Banking – but fairer, more rewarding, and for the good of society.

When you work at Nationwide, you can experience that difference for yourself. You’ll be part of a high-performing, purpose-driven organisation that offers rewarding career experiences and a highly competitive range of benefits to match. You’ll also be joining us at an important time as we seek to reach more and more people in the UK. We want everyone in the UK to know that they don’t have to bank with a bank. They can choose a modern mutual instead.

What to do next

If this role is for you, please click the ‘Apply Now’ button. You’ll need to attach your up-to-date CV and answer a few quick questions for us.

We respond to everyone, so we will be in contact shortly after the closing date to let you know the outcome of your application.


Audit Manager - Credit & Model Risk

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