Manager, Model Validation and Approval, Global Risk Management

Scotiabank; Toronto; On-site; CAD 100,000 - 140,000; Full time

Job summary

A leading bank in the Americas is seeking a Manager for Model Validation and Approval in Global Risk Management. You will ensure the soundness of risk measurement through independent model validation and collaboration with development teams. Ideal candidates will have experience in interest rate, liquidity risks, and stress testing, with a strong focus on validation processes and associated methodologies.

Benefits

Inclusive and collaborative working environment

Access to online and in-person courses

Competitive rewards package

Qualifications

• 2-3 years of relevant experience in model validation.
• Excellent written and presentation skills.
• Strong analytical, numerical, research, and problem-solving skills.

Responsibilities

• Validate Treasury and Enterprise related models.
• Discover and diagnose modeling related risks.
• Communicate validation issues with model owners.

Skills

Model validation

Risk management

Analytical skills

Problem solving

Communication

Education

Advanced degree in quantitative fields

CFA or FRM/PRM certification

Tools

Python

SAS

MATLAB

C++

SQL

Job description

Manager, Model Validation and Approval, Global Risk Management

Join to apply for the Manager, Model Validation and Approval, Global Risk Management role at Scotiabank

Manager, Model Validation and Approval, Global Risk Management

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Join to apply for the Manager, Model Validation and Approval, Global Risk Management role at Scotiabank

Requisition ID: 227258

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

The Role

The Model Validation & Approval area provides independent and consistent model validation and approval across various risk types, including market risk, credit risk, operational risk, capital models and other key risk/financial models.

The manager is primarily responsible for the validation of models related to asset and liability management, liquidity risk and stress testing to ensure the overall risk measurement soundness. This includes collaboration with the model development teams under Group Treasury, Liquidity & Interest Rate Risk, Enterprise Stress Testing and technology units to ensure models and methodologies are appropriate given our overall framework and regulatory requirements. The team is responsible for discovering and diagnosing modeling related risks including input data, assumption, concept, methodology, process and implementation. The team is also responsible for opining on the model strength and weakness and recommending practical solutions

What will you do?

• Assist Senior Manager to validate Treasury and Enterprise related models, such as asset and liability management, liquidity, internal capital and enterprise stress testing. Review modeling processes to ensure that the models selected are appropriate. Ensure methodology is consistently applied across organization, and appropriately refresh the evolving industry best practice.
• Discover and diagnose modeling related risks including input data, assumption, concept, methodology, process and implementation
• Assist Senior Manager to conduct research and develop new validation techniques.
• Review all necessary documentation related to validation assignments. Ensure accuracy and completeness of archived information and related documentation to allow independent third-party review of the validation work performed.
• Communicate validation issues/findings with model owners/developers and other counterparties.
• Work on model validation reports with hiring managers and provide ad hoc support as necessary
• Comply with internal policies, procedures and regulatory requirements where applicable.
• Provide support to resolve outstanding audit and regulatory issues.
• Keep abreast of industry and regulatory developments, and evolving expectations
  
  

What do you need to succeed?

• 2-3 years of relevant experience in model validation and/or development within a financial institution, particularly in the interest rate risk, liquidity risk and enterprise stress testing area is preferred.
• Exposure to asset liability management, liquidity risk management, and stress testing applications and practice.
• Sound understanding of various modelling techniques and comfortable conducting various tests.
• Excellent written and presentation skills to provide advice and explanation to various model users.
• Proficient programming skills, such as Python, SAS, MATLAB, C++, and SQL (Python is preferred).
• Strong analytical, numerical, research and problems solving skills.
• Ability to efficiently manage multiple priorities.
• Attention to details, independence, versatility and ability to effectively collaborate in teamwork.
• Flexibility and creativity in problem solving.
• Advanced degree in quantitative fields such as Applied Math, Applied Statistics, Applied Physics, Engineering, Finance, Data Science, or related fields.
• Other industry certifications or credentials will be assets (e.g. CFA, FRM/PRM).
  
  

What's in it for you?

• We have an inclusive and collaborative working environment that encourages creativity and curiosity and celebrates success
• We provide you with the tools and technology needed to create meaningful customer experiences
• You'll get to work with and learn from diverse industry leaders, who have hailed from top companies around the world
• We hire you for your talent — not just a job — so you can grow with us. We’ll equip you for success not only in your role, but also in your career as a whole
• Dress codes don't apply here: being comfortable does
• Access to thousands of online and in-person courses so you can hone your current skills, or learn new ones
• A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision, and dental and much more
  
  

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

  General Business, Management, and Business Development

• Industries

  Banking

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