Senior Audit Manager, Artificial Intelligence (AI) Risk

Seek summary

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The Commonwealth Bank of Australia (Bank) is Australia's leading provider of integrated financial services. They are committed to continuously improving governance practices and ensuring that they are aligned with business, stakeholders and customers’ needs. Group Audit and Assurance (GA&A) are the internal audit function for the Group. Their primary purpose is to provide independent and objective assurance of the effectiveness of the Groups risk management, controls and governance processes. 

Evolving customer expectations, competitive threats and pace of change require GA&A to support the business with new insights and risk coverage that puts customers first and to continue to provide insightful assurance to the Board. As digital technology disrupts and transforms entire industries and ways of working, GA&A is committed to keeping pace and continually reimagining themselves with the latest global best technology and innovation.

Over the last three years GA&A has increasingly embedded digital assurance into audit activities, injecting Artificial Intelligence (AI) into routine control testing and using digital tools to improve the overall experience for employees. 

By reducing administrative overhead, GA&A have increased their teams capacity for high value judgement-based activities and expanded their support to include sharing knowledge and tools that create better risk coverage across the Bank for all Three Lines of Assurance. With global-best digital tools that harness the power of data, analytics and AI, GA&A are delivering smarter, faster and safer outcomes to address current and emerging risks and provide better assurance outcomes for our customers and community. GA&A was recognised as an ABA100 winner for both Risk Management and Business Innovation in The Australian Business Awards 2023.

See yourself in our team

As part of GA&A, the Models, Data and Artificial Intelligence (AI) Audit team is focusing on Model Risk, Data & AI across CBA. The Models, Data & AI team reviews the effectiveness of the processes, controls and governance that seek to mitigate the risks associated with our internal, external and regulatory obligations for these risks. In addition, our team provides support for Business Audit teams across a wide range of Banking concepts and provide expert SME knowledge.

You will play a pivotal role within Group Audit and Assurance, focusing on Data Risk, specifically data frameworks, data transfer activities, and ensuring compliance with relevant regulations and standards such as those provided by APRA and ASIC.

The role involves leading and supporting data related audits and supporting as a data SME, the GA&A Retail Banking, Business Banking, Investment Banking and Compliance teams, while ensuring alignment with both local and global regulatory requirements.

Do work that matters

• Subject matter expertise of AI risk management and assessment of the risks and controls effectiveness relating to AI, the including emerging regulatory environment
• Lead the development and timely execution of the internal audit plan focused on AI risk, ensuring alignment with the bank's overall audit strategy and risk management framework
• Determine and propose the risk-based scope of audits covering AI, including GenAI
• Collaborate with business partners within various lines of business to ensure a comprehensive approach to AI risk audits and advisory engagements
• Present audit findings and AI risk exposures to stakeholders, including senior management and relevant stakeholders
• Participate to AI related risk committees as a representative of the GA&A function
• Ensure that corrective actions are appropriately designed, implemented, and effective in mitigating identified risks
• Foster a strong culture of AI risk awareness within the audit team and across the business
• Support training programs and awareness initiatives related to AI risk and contribute to the continuous improvement of the internal audit processes
• Maintain strong relationships with the GA&A leadership team, Regulators and External Audit to gain input and buy-in to strategic initiatives

We’re interested in hearing from people who possess

• Hands-on experience in AI risk management practices, including model development, validation/testing, or governance / internal audit of advanced statistical techniques of deep learning, ensemble learning, natural language processing, neural networks, reinforcement learning, and large language models
• Strong experience of Internal Audit and compliance framework
• Deep understanding of the implications and concepts of AI, including model explainability, transparency and model bias
• Knowledge of relevant regulatory requirements within AI / model risk management
• Preferred managerial experience of SME audit teams
• Excellent project management and organisational skills to deliver across multiple competing and time-bound priorities
• Strong verbal and written communication skills with the ability to explain complex concepts using simple language
• Excellent written communication skills along with good organizational, analytical, quantitative, oral are essential for the role.

Is this your next challenge? Apply now!

If you're already part of the Commonwealth Bank Group (including Bankwest, x15ventures), you'll need to apply through Sidekick to submit a valid application. We’re keen to support you with the next step in your career.

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