Senior Analyst, Quantitative Model Validation (Model Vetting)

TMX Group; Toronto; Hybrid; CAD 100,000 - 130,000; Full time

Job summary

TMX Group is seeking a Senior Analyst, Model Validation to validate quantitative and qualitative models and non-models used to assess market, credit, liquidity, and financial risks for TMX Group subsidiaries.

The role involves building benchmark models, evaluating soundness, and preparing reports for regulators and risk committees. A master's degree plus 2+ years in quantitative modeling is required, with strong Python/Matlab skills and a hybrid work arrangement in Toronto or Montreal.

Qualifications

• Master’s degree in Finance, Statistics, Mathematics, Economics, or other quantitative fields.
• At least 2+ years of relevant experience in researching, developing, and implementing quantitative models.
• Advanced knowledge of programming tools such as Python and/or Matlab.
• Ability to identify issues, analyze problems, and provide in‑depth written reports and recommendations.
• Proven ability to manage multiple projects and priorities concurrently in a fast‑paced environment.
• High integrity and ethical conduct.

Responsibilities

• Assess model and non-model soundness and risk from technical and functional perspectives, evaluating conceptual soundness, performance, and ongoing monitoring.
• Build financial, risk, pricing, econometric, and forecasting models to benchmark or replicate the results of models being validated.
• Make rigorous and balanced decisions on complex issues and provide expertise to ensure entities are not at undue risk.
• Participate in projects to identify key model risks and controls and assess the soundness of the modelling environment.
• Validate new post‑trade risk system‑related models and non‑models.
• Participate in the development and update of the Models and Non‑Model Risk Policy and methodology.
• Prepare validation reports and presentations for regulators and executive risk committees.
• Coordinate work plans and collaborate with internal stakeholders to ensure reviews and monitoring are completed as planned.
• Ensure programs are consistent with worldwide best practices and contribute to the legal and risk department’s efficiency.

Skills

Analytical thinking

Report writing

Project management

Education

Master’s degree in Finance, Statistics, Mathematics, Economics

Tools

Python

Matlab

SQL

VBA

Power BI

Tableau

Job description

Role Summary

The Senior Analyst, Model Validation performs quantitative and qualitative validation of models and non-models developed to assess and analyze market, credit, liquidity, and financial risks for TMX Group subsidiaries.

Key Accountabilities

• Assess model and non-model soundness and risk from technical and functional perspectives, evaluating conceptual soundness, performance, and ongoing monitoring.
• Build financial, risk, pricing, econometric, and forecasting models to benchmark or replicate the results of models being validated.
• Make rigorous and balanced decisions on complex issues and provide expertise to ensure entities are not at undue risk.
• Participate in projects to identify key model risks and controls and assess the soundness of the modelling environment.
• Validate new post‑trade risk system‑related models and non‑models.
• Participate in the development and update of the Models and Non‑Model Risk Policy and methodology.
• Prepare validation reports and presentations for regulators and executive risk committees.
• Coordinate work plans and collaborate with internal stakeholders to ensure reviews and monitoring are completed as planned.
• Ensure programs are consistent with worldwide best practices and contribute to the legal and risk department’s efficiency.

Qualifications

• Master’s degree in Finance, Statistics, Mathematics, Economics, or other quantitative fields.
• At least 2+ years of relevant experience in researching, developing, and implementing quantitative models.
• Advanced knowledge of programming tools such as Python and/or Matlab.
• Ability to identify issues, analyze problems, and provide in‑depth written reports and recommendations.
• Proven ability to manage multiple projects and priorities concurrently in a fast‑paced environment.
• High integrity and ethical conduct.

Nice to Have

• Knowledge of SQL, VBA, Power BI, or Tableau.
• Knowledge of regulatory requirements such as PFMI, OSFI, or EMIR Guidelines.
• Experience in the technology and financial services industry.

Key Requirements

• Hybrid work: 2–3 days per week in the office at a Toronto or Montreal location.
• Reports to: Head of Model Validation.

Salary Range

CAD 100,000 – 130,000 per year (guideline only).

EEO Statement

TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.

Work‑Permit Requirement

The company is not currently sponsoring work‑permit applications; applicants must be authorized to work in Canada.