Manager, Enterprise Stress Testing, Global Risk Management

Scotiabank Global Site; Toronto; On-site; CAD 80,000 - 100,000; Full time

Job summary

A leading financial institution in Toronto is seeking a Credit Risk Stress Testing Specialist to design and implement stress testing models for its retail portfolio. The ideal candidate will have expertise in quantitative modeling, proficiency in Python, and a strong analytical mindset. This role offers a competitive rewards package including bonuses and career development opportunities in a collaborative environment.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan

Matching Health Benefits

Qualifications

• Proven expertise in quantitative modeling including statistical analysis and data science techniques.
• Hands-on experience in credit risk modeling related to Probability of Default (PD) and Loss Given Default (LGD).
• Strong communication skills to convey analytical insights.

Responsibilities

• Design and develop credit risk stress testing models for retail portfolio.
• Generate stress testing results under various macroeconomic scenarios.
• Prepare and deliver stress testing reports to stakeholders.

Skills

Quantitative modeling

Statistical analysis

Machine learning

Python

Large dataset management

Credit risk modeling

Communication skills

Education

Advanced degree in Statistics, Economics, Finance, Mathematics, or Data Science

Tools

Python

Spark

Linux or UNIX systems

Git or Bitbucket

Job description

Requisition ID : 237808

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

Enterprise Stress Testings (EST) mandate is to design and run the Banks stress testing program. We need a strong individual to help with credit risk stress testing of the Banks retail portfolio. You will get the opportunities to apply your technical skillset and analytical mindset in building credit risk models and providing stress testing insights across geographies and products. This role has the potential for direct impact on business strategy with stress testing as a decision-making tool by senior management in Global Risk Management as well as Finance executives and the Board.

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

• Model Development : Design and develop credit risk stress testing models that forecast credit quality migration under stressed macroeconomic conditions for retail portfolio. This involves models for PD downgrade rates and LGD.
• Stress Test Implementation : Apply these models to generate stress testing results including ECL, PCL and RWA under various macroeconomic scenarios. Continuously optimize code repositories to ensure efficiency, accuracy and production-readiness.
• Result Analysis and Reporting : Conduct detailed analysis to validate the accuracy and explainability of model outputs. Develop robust data visualization tools and standards to support complex scenario analysis. Prepare and deliver stress testing reports to internal stakeholders and external regulators including OSFI.
• Emerging Risk Analysis : Perform supplementary analyses and develop methodologies to address emerging risk themes such as climate change, geopolitical instability, elevated consumer indebtedness and housing market pressures, etc.
• Cross-Functional Collaboration : Collaborate with model validation, internal audit and other model development teams (e.g. AIRB, IFRS 9, Capital Management) to ensure alignment with industry best practices and maintain model compatibility and compliance across frameworks.

Do you have the skills that will enable you to succeed in this role - we love to work with you if you have :

• Advanced degree in Statistics, Economics, Finance, Mathematics, Data Science or a related quantitative discipline.
• Proven expertise in quantitative modeling including statistical analysis, econometrics, machine learning and data science techniques.
• Proficiency in Python is required; experience with Spark is considered an asset.
• Familiarity with Linux or UNIX systems and version control tools such as Git or Bitbucket is advantageous.
• Demonstrated experience working with large and complex datasets and optimizing code for performance and scalability.
• Hands‑on experience in credit risk modeling particularly related to Probability of Default (PD) and/or Loss Given Default (LGD).
• Exposure to stress testing frameworks and methodologies is desirable.
• Strong communication skills with the ability to convey complex analytical insights to diverse audiences.
• Solid understanding of banking financial statements, retail credit products and credit risk modelling.
• Working knowledge of Risk‑Weighted Assets (RWA) and Basel capital requirements is an asset.
• Experience leading or contributing to transformational projects.
• Track record of presenting analytical findings and business insights effectively.

Whats 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, commercial banking, wealth management, 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.

Employment Type : Full Time