Senior Manager, Model Risk Management

Industrial and Commercial Bank of China (Canada); Mississauga; On-site; CAD 90,000 - 130,000; Full time

Job summary

A leading bank is seeking a Senior Manager Risk in Mississauga to oversee model risk management and ensure compliance with financial regulations. The ideal candidate will have over 5 years of experience in the financial industry, strong analytical skills, and a deep understanding of risk management concepts. Responsibilities will include developing risk policies, validating key models, and monitoring financial risks, all while fostering relationships across functions and adhering to the Bank's Code of Conduct.

Qualifications

• Minimum of 5 years of experience in financial industry focused on model risk management.
• Strong understanding of risk management and regulatory requirements.
• Proficiency in data analytical tools and machine learning.

Responsibilities

• Develop model risk management policies and procedures.
• Conduct model validations and ensure compliance with regulations.
• Back up for liquidity risk, market risk, and IRRBB monitoring.

Skills

Risk management concepts

Machine Learning

Data analytical tools

Communication skills

Attention to detail

Education

University education in Business, Accounting, Statistics, Finance or Financial Engineering

Tools

Excel

Job description

Reports To : Deputy Chief Risk Officer

Employment Type : Full-Time Permanent / Contract

Location : Downtown Head Office

Responsibilities :

• Develop model risk management policies and procedures, maintain model risk inventory, monitor model risk life cycle, model risk rating and model risk reporting
• Develop robust model risk management processes to identify and mitigate model risks
• Ensure timely and accurate model risk assessment and address OSFI model risk requirement

2. Model Validation and Model Risk Oversight

• Conduct model validations to key models such as AML model and credit risk ECL models
• Ensure model risk and key assumptions used in the models are managed within the Bank’s established framework
• Ensure models used are accurate, reliable, and compliant with model risk management regulations
• Direct and manage model validation and model risk management activities following model life cycle

3. Financial Risk Back-Up

• Back up for LCR, Capital and IRRBB monitoring and reporting, including the review of financial risk models of liquidity risk, market risk and IRRBB.

4. General Accountabilities

• Demonstrate and adhere to the values of the Bank in all activities, adherence to the Bank’s Code of Conduct and Ethics
• Communicate model risk management strategies, policies and practices to relevant parties
• Cultivate effective, synergistic relationships with other functions while maintaining the required independence
• To comply with all applicable policies, manual and procedures related to compliance, including but not limited to regulatory requirements of OSFI, FINTRAC, CDIC

Qualifications :

• University education background in Business, Accounting, Statistics, Finance, and Financial Engineering is preferred;
• Minimum 5 years of experience in financial industry with focus on model risk management;
• Good understanding of risk management concepts and regulatory requirements;
• Proficient with Excel or other programming, Machine Learning and data analytical tools is required;
• Good knowledge of financial market products;
• Excellent written and interpersonal communication skills;
• High level attention to details and ability to work under pressure in a fast-paced environment.

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Senior Manager Risk • mississauga, on, Canada