Manager, Model Validation

Scotiabank; Toronto; On-site; CAD 85,000 - 100,000; Full time

Job summary

A leading bank in Canada is seeking a Manager of Model Validation to enhance their model risk management processes. This role involves ensuring compliance with regulatory standards, performing rigorous model validations, and developing new validation techniques. Candidates should possess advanced quantitative skills, a deep understanding of financial instruments, and be adept at communicating complex findings.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Career development opportunities

Qualifications

• Advanced degree in a relevant field required.
• Knowledge of derivatives pricing and market risk modeling.
• Experience with multiple priorities and deadline management.

Responsibilities

• Validate and review Market risk capital models.
• Perform detailed quantitative and technical model assessments.
• Manage relationships with key stakeholders.

Skills

Mathematics

Statistics

Quantitative Analysis

Programming

Communication

Education

Master's or Ph.D. in Mathematics, Statistics, Econometrics, Physics, Computer Science, Financial Mathematics, Financial Engineering

Tools

MATLAB

C++

Python

Job description

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Requisition ID: 226773

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

Executes initial and ongoing model validations/approvals to ensure model risk management initiatives are following regulatory requirements and internal policies/procedures.

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

• Assist Director/Senior Manager and/or independently validate and/or review of Market risk capital models, counterparty credit risk capital models, trade surveillance model and the market risk/counterparty credit risk related stress testing models.
• Perform detailed quantitative and technical review of models, including responsibility of designing the validation framework, research on appropriate statistical / mathematical technical tests, coding/programming to analyze various aspects of model implementation and performance.
• Responsible for the review of all necessary documentations related to validation assignments, including reviewing documentation of work assignments under the incumbent's supervision; ensuring accuracy and completeness of archived information and related documentation to allow independent third-party review of the validation work performed.
• Undertake research and development of new validation techniques
• Comply with internal policies, procedures and regulatory requirements where applicable
• Provide reports for the summary of findings and recommendation to Senior Manager or Director.
• Manage relationship with key stakeholders as identified for each validation request submission
• Provide active and direct support to resolve outstanding audit and regulatory issues and to respond to ad hoc senior management and regulatory requests.
  
  

Skills

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

• Advanced degree in fields such as Mathematics, Statistics, Econometrics, Physics, Computer Science, Financial Mathematics, Financial Engineering (Master or above, Ph.D. Preferred); Industry certification or credentials will be an asset (e.g. CFA, FRM)
• Knowledges of the derivative pricing model theory, counterparty credit risk modeling, market risk capital modeling, market data. Experience in market risk modeling including the valuation and capital models, or counterparty credit risk modeling; knowledge of FRTB is preferred.
• Familiar with various trading products including IR, FX, Equity, Commodity etc.
• Excellent written and presentation skills to provide advices, explanations and communications to various users and stakeholders
• Sound understanding of various modelling techniques and proficient to conduct various tests.
• Proficient computing skills and grasp of programming languages such as Matlab, C++, Python.
• Ability to manage efficiently multiple priorities; attention to detail and ability to work independently or in teams; consensus-building ability.
• Familiar with concepts, structures, pros and cons, and various aspects of machine learning (ML) and AI models
  
  

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.
  
  

#scotiafinancejobs

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.

Seniority level

• Seniority level

  Mid-Senior level

Employment type

• Employment type

  Full-time

Job function

• Job function

  Other

• Industries

  Banking

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