Senior Manager, Model Risk Management

ZipRecruiter; Toronto; On-site; CAD 90,000 - 120,000; Full time

Job summary

A leading company in the financial sector is seeking a Model Risk Manager to oversee model risk governance, validation, and compliance. The ideal candidate will have a strong background in risk management, excellent communication skills, and the ability to work under pressure. This role involves developing policies, conducting validations, and ensuring compliance with regulatory requirements.

Qualifications

• Minimum 5 years of experience in financial industry with focus on model risk management.
• Good understanding of risk management concepts and regulatory requirements.

Responsibilities

• Develop model risk management policies and procedures.
• Conduct model validations to key models such as AML model and credit risk ECL models.
• Ensure timely and accurate model risk assessment.

Skills

Communication

Attention to Detail

Data Analysis

Education

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

Tools

Excel

Machine Learning

Job description

Job Description

Department / Branch: Risk Management Department

Reports To: Deputy Chief Risk Officer

Employment Type: Full-Time Permanent / Contract

Location: Downtown Head Office

Responsibilities:

1. Model Risk Management Governance

• 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 ;
• 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.