The organisation is a major Belgian financial institution conducting a scheduled internal audit of its capital frameworks, and the engagement requires a Subject Matter Expert Finance with strong ICAAP and Basel III expertise. The role exists to assess capital adequacy, stress testing and regulatory compliance across the bank's risk and reporting processes during a focused audit assignment.
The Mission
The project examines the bank's Internal Capital Adequacy Assessment Process (ICAAP) and related governance under CRR/CRD IV and Basel III standards, with particular attention to stress testing, capital planning and regulatory reporting. Your assessments will feed audit conclusions used by senior risk and regulatory teams, so accuracy and traceability of findings are important.
You will join a multi-disciplinary internal audit team to review documentation, controls and model assumptions, and to test how capital adequacy is calculated and reported. Day-to-day work includes evaluating stress test scenarios, validating market risk derivative treatments, drafting audit findings and recommending remedial actions, typically working to deliver clear, timeboxed audit deliverables.
Your Responsibilities
- Provide independent assessments of ICAAP design and implementation to produce audit conclusions that support regulatory compliance.
- Evaluate capital planning and stress testing frameworks, identifying material gaps that affect capital adequacy and resilience.
- Test controls and documentation for regulatory reporting, producing evidence-based findings and remediation proposals.
- Collaborate with risk, finance and model validation teams to reconcile methodologies, assumptions and reporting outputs.
- Prepare clear audit reports and executive summaries that translate technical findings into actionable recommendations.
- Support follow-up activities to verify remediation actions and improvements are implemented effectively.
Your Profile
Essential Skills
- Minimum 5 years relevant experience in ICAAP, capital adequacy or regulatory audit within banking or insurance.
- Proven knowledge of Basel III and CRR/CRD IV regulatory frameworks and their application to capital calculations.
- Hands-on experience with stress testing methodologies, regulatory reporting and audit methodologies.
- Solid understanding of market risk, including derivatives valuation and treatment in capital calculations.
- Strong analytical accuracy, ability to synthesise technical material and deliver concise written reports.
- Ability to work autonomously within formalised audit procedures and to meet tight delivery timelines.
Preferred Skills
- Experience in an internal audit environment or with large bank audit tools and financial process landscapes.
- Professional certifications such as CIA, CFA or FRM are an asset.
Languages
- Dutch, B2 (working knowledge)
- French, B2 (working knowledge)
- English, C1 (fluent)
Education
- Master’s degree or equivalent in Finance, Economics, Statistics, Risk Management or a related quantitative field.