Director, Treasury, Finance, and Stress Testing Model Validation

EQ Bank; Toronto; Hybrid; CAD 120,000 - 180,000; Full time

Benefits offered by this job

Competitive discretionary bonus

Market leading RRSP match program

Medical, dental, vision, life, and dis

Employee Share Purchase Plan

Maternity/Parental top‑up

Generous vacation policy and personal

Virtual events and Career development

Challenger Bank experience

Job summary

EQ Bank is seeking a senior model risk management professional to lead validations of Treasury risk models used for asset and liability management, stress testing, and related finance models. You will validate methodology, evaluate inputs, and articulate conclusions to key stakeholders in a collaborative, data-driven environment.

The role requires a Master’s degree and 7+ years in model validation or development within a financial institution, with strong programming in Python/SQL and excellent

Qualifications

• Master’s or higher in Math, Applied Math, CS, or equivalent quantitative background.
• 7+ years in Treasury risk model validation or related development in finance.
• Experience with ICAAP and stress testing models an advantage.
• Strong knowledge of model risk management principles and OSFI guidance.
• Advanced programming skills in Python, SQL, MATLAB, Excel VBA; data analytics preferred.
• Excellent written and verbal communication; strong project management.

Responsibilities

• Plan, execute, and report model validations across Treasury risk models.
• Assess data quality, monitor model performance, and develop validation strategies.
• Validate methodology, assess assumption reasonableness, and document results.
• Lead or support model risk assessments consistent with policy and usage.
• Communicate findings clearly to stakeholders and advise on actions.
• Support governance and reporting, maintain model inventory and issues.

Skills

Python

SQL

MATLAB

Excel VBA

Data analytics

Communication

Project management

Documentation

Education

Master’s degree or higher in a quantitative field

Equivalent quantitative background

Tools

Python

SQL

MATLAB

Excel VBA

Job description

Join a Challenger

At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.

Join a Challenger

At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.

We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.

What's kept us moving? The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.

If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity.

We can’t wait to get to know you!

The Work

The Model Risk Management (MRM) team is responsible for ensuring that model risk is appropriately managed according to the Bank’s Model Risk Policy and Standards and compliant with regulatory requirements.

Reporting to the Vice President of MRM, the incumbent will support the VP in fulfilling MRM’s mandate with respect to model validation activities of various Treasury methodologies on asset liability management, interest rate risk and liquidity risk management, as well as methodologies supporting stress testing, finance model validation approaches, etc. The incumbent is expected to play a key role in the development of strategies, processes and procedures to validate all credit risk models applied in production on an enterprise-wide basis, and in executing the required validation procedures. The incumbent will also be responsible for ensuring model risk is appropriately managed according to the Bank’s Model Risk Policy and Framework and comply with regulatory requirements.

The incumbent will be instrumental in fostering the relationship with Model Development teams. The work scope includes validating model methodology, evaluating the reasonability of assumptions, identifying model use restrictions and limitations, examining the quality of model inputs; establishing benchmarks; conducting additional quantitative and qualitative analysis, articulating findings, recommendations, and conclusions, and completing the model validation report that meets the bank’s model risk management standards.

The Core Responsibilities!

• Plan, execute and report model validations.
• Assess the quality of model data and monitor the model performance.
• Develop validation strategies and testing procedures.
• Communicate key model validation conclusions ensuring that complex concepts are understood by key stakeholder.
• Manage the project timeline diligently.
• Exercise reasonable judgment in decision-making and advise VP MRM.
• Draw upon your experience and knowledge to lead and/or support appropriate model risk assessments consistent with the model’s risk content and intended usage.
• Educate, influence and hold accountable key stakeholders to manage model risk for in-scope models according to the Bank’s Model Risk Policy and relevant OSFI guidelines (for example, E-23 Model Risk Management Guidance, B-6 Liquidity Principles, and B-12 Interest Rate Risk Management).
• Assist VP MRM in providing independent review and opinion to support the asset and liability Committee’s approval of model assumptions.
• Model Risk Governance: Support the Model Risk Governance function on model risk policy development and review, compliance to model risk management policies, processes and regulatory requirements, maintenance of model inventory, model issue tracking and reporting.

Let's Talk About You!

• A Master’s degree or higher in Math, Applied Math, Computer Science, Math Finance, Economics, or equivalent quantitative background.
• 7+ years experience in Treasury risk model validation or model development in a financial institution, advanced in mathematical and statistical derivations, quantitative techniques and qualitative justifications, regulatory requirements and industry practices.
• 3+ years experience in Enterprise-wide models such as ICAAP models and stress testing models
• Extensive understand model risk management principles and practices
• Extensive knowledge of related business and management processes.
• Advanced programming skills in Python, SQL, MATLAB, Excel VBA with macro. Previous experience in data analytics is preferred.
• Excellent analytical skills and communication skills in both written and verbal format.
• Excellent project management and time management skills.
• Excellent technical documentation and report‑writing skills.

What we offer [For full-time permanent roles]

• Competitive discretionary bonus
• Market leading RRSP match program
• Medical, dental, vision, life, and disability benefits
• Employee Share Purchase Plan
• Maternity/Parental top‑up while you care for your little one
• Generous vacation policy and personal days
• Virtual events to connect with your fellow colleagues
• Professional development and comprehensive Career Development program
• A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

The incumbent will be working hybrid and in office time will be spent working from EQ Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON.

Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.

We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.

EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

To learn more, visit eqb.investorroom.com and eqbank.ca.

We may use artificial intelligence (AI) tools to support parts of the hiring process, such as reviewing applications, analyzing resumes, or assessing responses and identifying potential inconsistencies or verification signals in application materials based on available information. These tools assist our recruitment team but do not replace human judgment. Final hiring decisions are ultimately made by humans. If you would like more information about how your data is processed, please contact us.