Senior Manager, GBM Model Risk Management (contract)

Scotiabank; Toronto; On-site; CAD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking a Senior Manager for Model Risk Management to lead efforts in ensuring compliance with global regulatory expectations. This role encompasses oversight of model use and governance, requiring a strong background in risk management and regulatory guidance. You will be instrumental in managing model inventories, conducting reviews, and influencing cross-functional teams to align practices with regulatory standards. Join a purpose-driven team that values creativity and offers a competitive rewards package, including performance bonuses and health benefits from day one. If you're ready to make an impact in a collaborative environment, this opportunity is for you.

Benefits

Performance Bonus

Employee Share Ownership Program

Pension Plan Matching

Health Benefits from Day One

Career Development Opportunities

Qualifications

• 5+ years experience in risk management or banking.
• Solid understanding of model development and validation best practices.

Responsibilities

• Manage the bank's global model inventory for GBM.
• Champion Model Risk Management Policies and align with industry standards.

Skills

Risk Management

Model Risk Management

Regulatory Guidance

Analytical Skills

Attention to Detail

Cross-Functional Team Influence

Education

Bachelor's Degree in Finance or Related Field

Master's Degree in Finance or Related Field

Job description

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Requisition ID: 223405

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

Please note that this is a 12 month temporary full-time opportunity.

The Senior Manager, Global Banking and Markets Model Risk Management is responsible for supporting the Head of GBM Model Risk Management in the development and execution of the Global Model Risk Policy, specifically in the U.S. and Europe. The Program encompasses Model Risk oversight, reporting, governance, communication, and education. It provides independent oversight to review and challenge model use to ensure models are fit-for-purpose and meet Global regulatory expectations (i.e.: FRB SR 11-7, OSFI E-23, PRA SS 1/23).

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

• Manage the bank's global model inventory for GBM to include all models in use and relevant metadata on models.
• Champion the Model Risk Management Policies and align with industry-standard practices while acting as a subject matter expert for GBM model governance and compliance.
• Oversee the model reviews conducted by Global Model Risk Management (GMRM) to ensure they meet applicable standards and business needs.
• Liaise with responsible parties to ensure that documentation is developed during the course of any project work to support the closure of gaps between regulatory expectations and current practice.
• Coordinate with Model Development, Validation, and Internal Audit to ensure that documentation is complete and sufficient to meet expectations in supporting an opinion of compliance with the regulator requirements.
• Respond to ad hoc enquiries by providing expert guidance to business groups to ensure that the interpretation of policies, standards and processes are consistent relative to the Bank’s business and regulatory frameworks including the Basel Framework and related regulatory expectations.
  
  

Skills

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

• 5+ years experience preferably in risk management or banking, related policy and process teams.
• Working knowledge of model risk management incl. understanding of any regulatory guidance in this space: Fed’s SR 11/7, OSFI e23, PRA SS 1/23
• Working knowledge of GBM (trading, institutional lending, prime brokerage, advisory, etc.,) businesses. Understanding of the types of products involved, how they are traded / priced / hedged / etc.
• Ability to understand the spirit of regulatory expectations via published guidance and how they translate into internal governance documents and tools (e.g., framework, policy, procedure, standards, templates, etc.,)
• Solid understanding of model development and validation best practices
• Ability to review and challenge model methodology and validation documentation, including breadth / depth / frequency of model monitoring frameworks
• Ability to influence cross-functional / -global teams (i.e.: developers, validators, support functions such as finance / risk, and business functions such as trading desks) and to articulate expectations to development / validation teams, especially when the counterpart initially disagrees and may be more senior in the organization.
• Strong analytical and attention to detail skills.
  
  

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.
  
  

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

  Contract

Job function

• Job function

  General Business, Management, and Business Development

• Industries

  Banking

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