Manager - Development For Non-Scorable Small Business IFRS9 Models -14 month contract

Scotiabank; Toronto; On-site; CAD 80,000 - 120,000; Full time

Job summary

Join Scotiabank as a Manager in Internal Ratings Management, overseeing risk parameter estimation models for the Business Banking portfolio. The role involves collaboration with various stakeholders to enhance risk management practices, utilizing advanced modeling techniques and machine learning. You'll contribute to impactful decisions while ensuring compliance and quality in a dynamic team environment.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Career development opportunities

Qualifications

• 1+ years of experience in quantitative/statistical analysis in a financial institution.
• Strong skills in programming, particularly with Python frameworks.
• Experience with credit risk models and regulatory capital requirements.

Responsibilities

• Develop, implement and maintain risk quantification methodologies for credit risk.
• Conduct research and analysis of methodologies and recommend actions.
• Communicate analysis results effectively to internal and external audiences.

Skills

Quantitative analysis

Machine learning

Statistical techniques

Programming

Communication

Education

Graduate degree in Statistics, Computer Science or comparable quantitative discipline

Tools

Microsoft Office

Python

Job description

Requisition ID: 227850

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Internal Ratings Management unit in Global Risk Management is responsible for credit risk modelling for Bank’s Business Banking portfolio. It includes but not limit to developing borrower risk rating models and managing the risk rating system for all Business Banking customers, conducting the estimation of credit risk parameters for the regulatory capital purpose and providing guidelines of how to use the risk rating models and risk parameters to business partners. The bank’s goal is to beThe Leading Bank in The Americasby puttingCustomers First.As an important function in the Global Risk Management of the bank, in order to contribute to achieving this goal, we need to build aWinning Teamthat can manage and govern stable high-performing models and provide our business partners with the best analytic insights and advices. The models that we build underpin risk-management decisions that impact business banking customers and keep hundreds of $billions safe every single day.

As a Manager, you will report directly to a Senior Manager or Director and be a critical member of a team overseeing risk parameter estimation models, and related internal and regulatory processes. You will support – from conception through execution and governance – the credit risk parameter estimation models covering the Bank’s entire Business Banking portfolio. You will collaborate, on a regular basis, with a wide range of stakeholders and internal partners including Model Validation and Governance, Finance, Business Lines Partners, Compliance and Audit. You will have access to a modern machine learning stack that includes open source development environments, and data visualization business intelligence tools.

Under the guidance of your Director, your team of risk modeling experts will use these tools to develop advanced risk estimation models that will be used to make decisions worth $billions every month and therefore they need to be not only precise and accurate, but highly stable, explainable, compliant, secure and useful. You will be responsible for understanding the goals & priorities set for you, executing them efficiently with a perpetual eye on quality, asking questions often and delivering results in harmony with your teammates.

Is this role right for you? In this role, you will:

• Develop, implement and maintain risk quantification methodologies for Business Banking (including small business) credit risk parameters.
• Perform research and analysis of applicable methodologies; present and recommend appropriate alternatives; test and implement modelling methodologies.
• Benchmark internal results with external models or data sources; provide analysis and recommend actions as appropriate.
• Implement and maintain a rigorous framework of internal controls and comprehensive documentation for various applications and databases used in parameter estimation models.
• Communicate results of analyses through documentation to internal/external audiences, and effectively manage the interface with relevant parties such as Validation, Audit, and Regulators.
• Keep abreast with advances in credit risk analytics developments, products, and applications by vendors, consultants, regulatory agencies and competitors. Recommend/develop enhancements appropriate for the Bank.

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• You believe, first and foremost, in always doing the right thing and doing things the right way
• You are comfortable with ambitious but realistic goals and are committed to achieving them
• You are social, engaging, not afraid to ask questions and relish the opportunity to learn from global partners across the firm
• You relish the opportunity and yet also understand the responsibility and weight that comes with the fact that the output of your models will directly influence the bank’s financial statements
• You can read complex and lengthy regulatory requirements and identify opportunities for optimization while always remaining committed to compliance excellence
• You understand what PDs, LGDs & EADs really are, from the ground up
• You have a genuine love, passion and talent for programming, data, and modeling
• You are committed to quality in everything you do – statistically, process and governance wise
• You look forward to sharing your insights through high-quality verbal & written communications
• Excellent computing development skills, particularly statistical and database modeling tools; well-developed ability to adapt to various programming languages and environments.
• 1 year of hands-on experience in quantitative analysis and machine learning; exposure to quantitative analysis related to credit risk management and modeling is preferred.
• In-depth understanding of statistical techniques and procedures related to analysis of various distributions, regression modeling, monte-carlo simulation and bootstrapping techniques.
• Well-developed writing and presentation skills, including competence in comprehensively and concisely reporting and presenting the results of complex analyses.
• Ability to efficiently manage multiple priorities to ensure timely delivery.
• Attention to details, independence, and ability to effectively collaborate in teamwork.
• Flexibility and creativity in problem solving.
• A graduate degree (or equivalent) in Statistics, Computer Science or comparable quantitative discipline that includes rigorous exposure to statistical knowledge and techniques.

• 1 + years of experience in hands-on quantitative/statistical analysis, preferably related to the non-retail credit risk area in a major financial institution.
• Able to work remotely and on-site on multiple activities simultaneously and meet deadlines
• Experience developing credit risk models
• Experience working within Basel regulatory capital requirements framework
• Domain expertise with Business Banking exposures and/or risk management practices
• FRM, CFA credentials
• Experience training and deploying machine learning models using common Python open source frameworks (e.g., scikit-learn, Numpy, Pytorch)
• Microsoft Office (Excel, Word, PowerPoint, Teams, PowerBI) power user

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

Location(s): Canada : Ontario : Toronto

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.