Audit Specialist – Models & Market Risk

ImpacT Hire is supporting an international banking group in the expansion of its Digital Technology Center in Sofia.
We are currently looking for an Audit Specialist – Models & Market Risk to join a Group Audit function with strong focus on mathematical modelling and banking risk models.
This role is strictly targeted at professionals with a background in mathematical modelling within the banking industry.
You will be part of an interdisciplinary audit team assessing complex mathematical risk models used across the bank. The position requires strong quantitative expertise combined with practical exposure to model development, validation, or model audit within financial institutions.
The focus is on evaluating model risk management frameworks and ensuring that models comply with regulatory requirements and internal governance standards.

Responsibilities:
➢ Assess the correctness and adequacy of risk, AI, and other mathematical models used within the bank;
➢ Review the work of model development and model validation teams and verify compliance with regulatory standards;
➢ Evaluate model risk management processes across Credit Risk, Market Risk, Liquidity Risk, ICAAP and related areas;
➢ Analyse mathematical methodologies used in development, monitoring, and validation processes;
➢ Identify risks and derive actionable recommendations together with stakeholders;
➢ Prepare structured audit reports for senior management and supervisory authorities;
➢ Contribute to the further development of audit methodologies and digital initiatives;
➢ Support follow-up activities related to internal and external audit findings.

Requirements:
➢ Strong professional experience in mathematical modelling within the banking industry;
➢ Background as risk model auditor, model developer, model validator, or consultant in modelling-related topics;
➢ Solid understanding of Model Risk Management frameworks;
➢ In-depth knowledge of regulatory requirements related to credit, market and liquidity risk models;
➢ Advanced knowledge of mathematical methods and modelling techniques;
➢ Fluency in English;
➢ Strong analytical skills, structured thinking and attention to detail;
➢ Willingness to work in cross-functional audit teams and travel when required.

This role is not focused on finance, accounting, or general financial audit. The key requirement is strong mathematical modelling expertise combined with banking experience.