Manager, Model Validation

Scotiabank; Toronto; On-site; CAD 60,000 - 80,000; Full time

Job summary

A leading bank in the Americas is seeking a motivated Model Validation team member in Toronto to support the credit model validation team. Your role will involve mitigating model risks, diagnosing issues, and validating models. Ideal candidates will have 1-2 years of experience in quantitative risk management and proficiency in tools like Python, SQL, and SAS. The bank values inclusivity and offers a supportive environment for all employees. Apply now to become part of this winning team!

Qualifications

• 1-2 years of relevant experience in the quantitative risk management field is preferred.
• Experience with AIRB credit risk models is preferred.
• Proficient in mathematics, econometric models, and statistics.
• Experience with financial statement analytics is an asset.

Responsibilities

• Support the model validation team to mitigate model risks.
• Discover and diagnose modeling related risks including input data and assumptions.
• Provide subject matter expertise on model strengths and weaknesses.
• Validate models assigned by the model governance committee.
• Discuss validation results with model owners and governance teams.

Skills

Quantitative risk management

Mathematics

Econometric models

Statistics

Analytical skills

Numerical skills

Problem-solving skills

Tools

Python

SQL

SAS

R

Matlab

Job description

Requisition ID: 249945

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

Looking for a highly motivated and qualified Model Validation team member to support its objectives. The primary responsibility of this role is to support the credit model validation team to mitigate the model risks under the model governance for the entire group. The team is responsible to discover and diagnose modeling related risks including input data, assumption, concept, methodology, process and implementation. The team is also responsible to opine on the model strength and weakness and recommend practical solutions.

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

• Support the model validation team to mitigate the model risks
• Discovers and diagnoses modeling related risks including input data, assumption, concept, methodology, process and implementation
• Provides subject matter expertise on models’ strength and weakness and recommend practical solutions
• Validates models assigned by model governance committee
• Discusses validation results with model owners and governance team to gain consensus and create strategies to implement changes if needed
• Utilizes express mode validation for new model development, facing legal and compliance related modeling issues, quick model fixes, etc.
• Review model documents and conduct test runs on model codes
• Provide different view on methodology and calculations, and provide feedback to model developers
• Work on model validation reports with hiring manager and provide ad hoc support as necessary

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

• 1-2 years relevant experience in quantitative risk management field is preferred.
• Experience with AIRB credit risk models is preferred.
• Proficient in mathematics, econometric models and statistics.
• Strong analytical, numerical, research and problems solving skills.
• Experience with financial statements analytics is an asset.
• Software skill: Python, SQL, SAS, R and Matlab.

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.