Manager - Model Validation & Approval

Scotiabank; Toronto; On-site; CAD 85,000 - 120,000; Full time

Job summary

Scotiabank seeks a Quantitative Analyst to validate equity derivatives models in Toronto. This full-time role requires collaboration with various stakeholders, strong expertise in mathematics and modeling techniques, and project management skills. Join a team that values creativity and offers competitive rewards, including career development opportunities.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Career development opportunities

Qualifications

• Advanced degree in Mathematics, Physics, Computer Science, Financial Mathematics, or related fields.
• Knowledge of various derivatives and validation techniques.
• Strong project management and communication skills.

Responsibilities

• Validate derivative pricing models for capital markets and risk management.
• Manage validation projects and conduct research on methodologies.
• Prepare reports for model approval and maintain key stakeholder relationships.

Skills

Applied mathematics/statistics

Numerical methods

Project management

Effective communication

Artificial Intelligence

Machine Learning

Education

Master's or above in quantitative fields

CFA or FRM certification

Job description

Requisition ID: 230721

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

This full-time position is primarily responsible for validating equity derivatives models used in Scotiabank’s Global Banking and Markets production. They will regularly collaborate with multiple stakeholders from groups including Global Analytics & Financial Engineering (GAFE) and Trading Floor Risk Management (TFRM).

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

• Assist the Director/Senior Manager in validating derivative pricing models used in capital markets and risk management for various purposes, including P/L calculation, sensitivity analysis, and limit monitoring.
• Independently manage validation projects or collaborate within a team; review model documentation, conduct research on new methodologies and validation techniques, and design and implement validation test plans.
• Prepare reports summarizing findings and opinions for the model approval.
• Maintain relationships with key contacts identified for each validation request submission.
• Ensure compliance with internal policies, procedures, and regulatory requirements where applicable.
• Provide support for large-scale projects as needed.
• Stay informed about industry and regulatory developments and evolving expectations; build relationships with counterparts at other financial institutions.

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 quantitative fields such as Mathematics, Physics, Computer Science, Financial Mathematics, Economics, or Financial Engineering (Master's or above).
• Industry certifications or credentials (e.g., CFA, FRM) are an asset.
• Strong knowledge in applied mathematics/statistics and numerical methods such as Monte Carlo simulation, Binomial/Trinomial Tree, and numerically solving PDEs.
• In-depth knowledge in one or more of the following product types and modeling techniques is preferred: equity derivatives, interest rate derivatives, commodity derivatives, FX, credit derivatives, XVA, and local/stochastic volatility modeling.
• Strong knowledge and/or work experience in Artificial Intelligence (AI) and Machine Learning (ML) is an asset.
• Effective project and time management skills to efficiently deliver concurrent projects with competing priorities and high quality.
• Effective presentation skills and strong spoken and written communication skills are essential.

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.