Manager, Model Validation & Approval

Scotiabank; Toronto; On-site; CAD 65,000 - 95,000; Full time

Job summary

Scotiabank in Toronto is seeking a motivated Model Validation professional to join our credit risk validation team. You will support risk mitigations across the model lifecycle, review data, assumptions, methodologies, and implementation, and provide insights to model owners and governance committees.

The role emphasizes hands-on validation, test runs, and rapid feedback on new models, with opportunities to influence risk controls, documentation, and validation reports.

Qualifications

• 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.

Responsibilities

• 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.

Skills

Quantitative risk management

AirB credit risk models

Mathematics & statistics

Analytical thinking

Problem solving

Education

Bachelor's degree in a quantitative field

Tools

Python

SQL

SAS

R

MATLAB

Job description

Requisition ID: 270373

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

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:

• 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.

What's in it for you?

• We are technology partners who help the business transform how our employees around the world work
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We care about our people, allowing them to design how they work to deliver amazing results
• We offer a competitive total rewards package, including a performance bonus, company matching programs (on pension & profit sharing), and generous vacation

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. 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.