Quantitative Model Audit Co-op

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GENERAL FUNCTION:

Fifth Third Bank's Audit Division is responsible for performing independent, objective assurance activities for the Bank's key business processes, products, services and technologies, as well as governance, oversight and monitoring functions of management and support functions. Audit's Quantitative Model Audit Team conducts analysis regarding the use of enterprise models in support of Audit Division processes and line of business audits, including consumer, commercial, capital markets, treasury, and emerging technology.Analyses are performed in a team environment under the guidance of the Enterprise Risk Management Audit Manager and Quantitative Model Audit team.

TEAM DESCRIPTION:

We are seeking an individual to join our growing Internal Audit team supporting Quantitative Modeling Analysis. This role will assist with a range of analytics work across multiple audit functions. The candidate will need to exhibit broad working knowledge of data analytics tools and techniques. The ideal candidate will have hands-on experience with process automation software and coding, as well as experience identifying and assessing credit, operational, compliance, and reputational risks across a variety of business functions.

POSITION DESCRIPTION:

The Quantitative Model Audit Co-Op assists with the analysis and review of enterprise model development, monitoring, and validation within the Audit Division in support of routine financial, operations, and compliance audits for various Bancorp lines of business and functional areas, under the direction of the Enterprise Risk Management Audit Manager and Quantitative Model Audit team.

Responsibilities include utilizing quantitative analysis competencies and business knowledge to help identify, quantify, and assess statistical regression, machine learning and artificial intelligence modeling techniques utilized within the Enterprise Model Inventory.Also, responsibilities include assisting with review of Model Governance risk and controls in support of line of business audits.

Responsible and accountable for risk by openly exchanging ideas and opinions, elevating concerns, and personally following policies and procedures as defined. Accountable for always doing the right thing for customers and colleagues, and ensures that actions and behaviors drive a positive customer experience. While operating within the Bank's risk appetite, achieves results by consistently identifying, assessing, managing, monitoring, and reporting risks of all types.

ESSENTIAL DUTIES & RESPONSIBILITIES:

• Collaborates with Quantitative Model Audit Team and Audit personnel to support the Division through a wide range of quantitative model review including statistical regression, machine learning and artificial intelligence techniques.
• Collaborates with Audit personnel to provide quantitative model insight to meet overall Audit objectives.
• Provides thorough documentation of code logic, procedures performed, and testing outcomes.
• Contributes to team effort by willingly sharing knowledge, being open to new ideas, applying knowledge in daily work, and building strong partnerships for learning and knowledge sharing.
• Other duties as assigned.

SAMPLE PROJECTS:

• Collaborates with Audit personnel to determine approach for testing quantitative model controls across a variety of business and support functions.
• Collaborates with Model Owners across the enterprise as well as Model Risk Management personnel to understand the use of artificial intelligence and machine learning techniques within the enterprise model inventory

MINIMUM KNOWLEDGE, SKILLS AND ABILITIES REQUIRED:

• Junior or Senior classification with relevant coursework in a quantitative disciplines, such as Quantitative Finance, Information Systems, Computer Science, Informatics, Data Science, Statistics, Economics, or related degree program.
• Minimum 3.0 cumulative GPA required.
• Solid candidates should have relevant internship and/or work experience, strong written and verbal communication skills, demonstrated proficiency in critical thinking, leadership, business acumen, relationship building and teamwork through extracurricular activities, work experience, or academic pursuits.
• Fundamental knowledge of traditional regression modeling and machine learning is preferred.
• Computer programming experience in any of the following languages is preferred: SAS, SQL, Python, R, Visual Basic.
• Advanced Excel skills are preferred
• Able to solve routine problems by following defined procedures.
• Capable of managing own time to meet deadlines set by Manager and Assignment Leader.
• Capable of completing work with direction, guidance and instructions from others.
• Must be authorized to work in the U.S. without the need for employment-based immigration sponsorship now or in the future.

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