Head of Quantitative Internal Audit

Head of Quantitative Internal Audit

OTP Group – EU / CEE Region and Central Asia (Group level role)

Role Purpose:

OTP Group is seeking a senior quantitative leader to establish and head a Group level Quantitative Internal Audit function with responsibility for all banks and relevant entities across OTP Group’s EU, CEE and Central Asian footprint.

The Head of Quantitative Internal Audit will build and lead a geographically distributed team of quantitative specialists who provide independent assurance over models, risk measurement frameworks, and pricing methodologies used across the Group. The role will have a strong focus on Basel regulatory requirements, EU supervisory expectations, and local regulatory specificities within OTP Group member banks.

This position plays a critical role in strengthening Group wide oversight of model risk and ensuring consistent, high quality quantitative audit practices across jurisdictions.

Key Responsibilities:

Group Level Team Build Up and Leadership

• Establish and lead a Group Quantitative Internal Audit team serving all OTP Group banks and relevant subsidiaries.

• Design the Group target operating model for quantitative internal audit, including team structure, competency framework, and distribution across countries.

• Recruit, develop, and retain quantitative auditors across the EU / CEE region, leveraging local talent pools where appropriate.

• Ensure consistent audit quality, methodology, and documentation standards across all Group entities.

Quantitative Audit Coverage Across OTP Group

• Plan, lead, and oversee Group level and local audits covering:

• Credit, market, counterparty credit, liquidity, IRRBB, and operational risk models

• Capital calculation and RWA methodologies (IRB, Standardised approaches, CVA, FRTB where applicable)

• Stress testing, scenario analysis, and sensitivity frameworks

• IFRS 9 / expected credit loss (ECL)models

• Pricing, valuation, and model based product methodologies

• Evaluate model lifecycle governance (development, validation, implementation, use, and monitoring) across Group entities.

• Identify systemic model risk issues, assess consistency of methodologies, and benchmark practices across OTP Group banks.

Basel and Regulatory Focus (Group Perspective)

• Provide independent assurance over Group wide compliance with Basel III / Basel IV requirements and EU regulatory frameworks.

• Review and challenge methodologies supporting ICAAP, ILAAP, recovery planning, and supervisory stress testing at both Group and local bank level.

• Take into account differing local supervisory expectations while ensuring alignment with Group standards and policies.

• Anticipate and respond to regulatory developments from the EBA, ECB, and national supervisors relevant to OTP Group.

Stakeholder Management and Governance

• Act as a senior Group level counterpart to Risk Management, Finance, Model Validation, and regulatory liaison functions.

• Engage with local audit teams and management across OTP Group banks to coordinate quantitative audit activities.

• Present audit conclusions and Group level insights to senior management, the Audit Committee, and other governance forums.

• Contribute to the overall Internal Audit strategy from a quantitative and model risk perspective.

Location and Travel:

• The role may be based in any EU / CEE country where OTP Group operates, subject to employment and regulatory conditions.

• Monthly presence in Budapest (approximately 2 working days) is required for Group governance meetings, senior stakeholder engagement, and team coordination.

• Additional regional travel may be required depending on audit planning and Group priorities.

Required Qualifications and Experience:

• Advanced degree (MSc or PhD) in Quantitative Finance, Mathematics, Statistics, Econometrics, Physics, Engineering, or a related discipline.

• At least 10 years of professional experience in quantitative risk management, model development or validation, regulatory modelling, or internal audit within a banking environment.

• Deep knowledge of Basel regulatory frameworks, particularly credit risk modelling, capital calculations, and related methodologies.

• Practical experience auditing, validating, or independently reviewing quantitative models.

• Proven leadership experience, ideally in a Group, regional, or multi country setup.

• Strong understanding of model risk management frameworks and supervisory expectations in the EU and CEE markets.

• Excellent communication and influencing skills, with the ability to explain complex quantitative topics to senior and non technical audiences.

• Professional certifications (FRM, CFA, or similar) are an advantage.

What OTP Group Offers:

• Opportunity to create and lead a Group wide quantitative internal audit function covering one of the leading banking groups in the CEE region.

• High visibility role with direct access to senior Group management and Audit Committee members.

• Exposure to a wide range of quantitative models and regulatory environments across multiple countries.

• Flexible location within the EU / CEE and a modern, distributed working model.

• Competitive compensation and benefits aligned with senior leadership responsibilities.