Senior Manager, AML Model Validation, Global Risk Management

Scotiabank; Toronto; On-site; CAD 85,000 - 169,000; Full time

Job summary

A leading banking institution located in Toronto is seeking a Senior Manager for AML Model Validation. The role involves independent validation of AML and Fraud models, supporting strategy development for validation plans, and ensuring compliance with regulatory standards. Ideal candidates should have over 5 years of experience in data management and model validation, along with proficiency in SQL and programming languages like Python and R. The position offers a competitive rewards package, emphasizing career development and a collaborative working environment.

Benefits

Performance bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from day one

Career development opportunities

Qualifications

• 5+ years of experience in data management or data architecture.
• 5+ years of experience in model development and/or validation.
• Knowledge of AML & Fraud regulatory requirements is preferred.

Responsibilities

• Perform independent validation of AML & Fraud models across the enterprise.
• Support the Director in creating AML & Fraud model validation plans.
• Deliver validation work and assess model implementation tests.
• Review and provide opinions on model soundness.
• Provide AML & Fraud SME support to work streams.
• Assist in guiding junior staff and verifying deliverables.
• Collaborate with key counterparts and stakeholders for validation requests.
• Address outstanding audit and regulatory issues.

Skills

Data management

Data analysis

SQL

Programming (Python, R, SAS)

Communication

Tools

Oracle Mantas AML

Job description

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Requisition ID: 243435

Salary Range:85,900.00-168,600.00

Please note that the Salary Range shown is a guideline only. Salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience.

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

The Model Validation & Approval area provides independent and consistent model validation and approval across various risk types, including market risk, retail/non-retail credit risk, operational risk, capital models, AML, Fraud, and other key risk/financial models. The Senior Manager provides support and execution within AML Model Validation team to ensure that Scotiabank is maintaining ongoing effectiveness of the AML & Fraud model validation program. The incumbent will be independently executing data management and model quality assurance testing/validation work according to the AML & Fraud model validation frameworks. The candidates will provide continuous support to the department by implementing successful AML & Fraud model validation strategies within the bank.

In this role, you will:

1. Perform independent validation of AML & Fraud models across the enterprise, including the vertical functions of (but not limited to), transaction monitoring, client risk rating, sanction screening, watch list, fraud scoring, machine learning, etc.
2. Support Director to develop and create AML & Fraud model validation plans and reports.
3. Deliver validation work assignments according to work plan; determine and execute data verification and quality assurance assessments and model implementation tests; identify material improvement opportunities in the model inputs being validated.
4. Review and provide opinions on the soundness and use of the model; develop thorough model validation reports. Prepare 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.
5. Provide AML & Fraud subject matter advisory support to all work streams as needed.
6. Assist Director to provide guidance to junior staff, as needed, and conduct verification on the deliverables before submission.
7. Develop and maintain work relationship with key counterparts and stakeholders as identified for each validation request.
8. Comply with internal policies, procedures and regulatory requirements where applicable.
9. Provide active and direct support to resolve outstanding audit and regulatory issues and to respond to ad hoc senior management and regulatory requests.
10. Keep abreast of changes in AML & Fraud related regulatory requirements and evolving expectations within the industry; provide ongoing peer benchmarking support.

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

Experience:

• 5+ year of experience in the data management or data architect, with familarity and be comfortable to handle large data
• 5+ year of experience in model development and/or validation.
• Working knowledge and exposure of AML & Fraud related regulatory requirements is preferred.

Required Functional (Technical) Competencies:

• Ability to effectively utilize relational databases for data analysis and write complex SQL queries.
• Proficiency in constructing and executing distributed queries from a variety of databases/sources is required.
• Strong experience or background in data analysis and statistical techniques; proven ability to employ these to analyze large sets of data.
• Strong proficient in programming language, such as SQL, SAS, R, Python, VBA, etc.
• Experience with Oracle Mantas AML solutions will be an asset.
• Strong knowledge of the AML & Fraud regulatory landscape, specifically with respect to AML & Fraud models and tools.
• Effective time management in order to efficiently deliver concurrent projects with competing priorities.
• Ability to work independently as well as a team player to deliver work assignments.
• Constructive conflict management ability; ability to collaborate effectively with counterparts and stakeholders.
• Effective presentation and communicaton skills; Strong written skill is essential.
• Ability to manage efficiently multiple priorities.
• Attention to details, independence, and ability to effectively collaborate in teamwork.
• Flexibility and creativity in problem solving.

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.

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.

Scotiabank is an equal opportunity employer. We evaluate qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, veteran status, or any other characteristic protected by federal, state, or local law.