Senior Manager, Model Validation (Questbank)

Questrade Financial Group; Toronto; Hybrid; CAD 140,000 - 180,000; Full time

Job summary

Questrade Financial Group is seeking a Senior Manager to lead independent validation of AI/ML and credit risk models in Risk Management. You will evaluate model soundness, data quality, implementation, and performance monitoring, while presenting findings to senior leadership.

You will define validation scopes, develop plans, manage projects, and mentor junior validators in a collaborative, hybrid Canadian environment.

Qualifications

• Masters or PhD in a quantitative field such as Statistics, Mathematics, Econometrics, Financial Engineering, or Computer Science.
• 7+ years of experience in model development, validation, or risk management within the financial services industry, with a focus on credit risk and/or AI/ML models.
• Strong programming skills in statistical software packages such as R, Python, or SAS.

Responsibilities

• Lead and execute independent validation of AI/ML and credit risk models, ensuring conceptual soundness, fairness, and regulatory compliance (OSFI E-23).
• Define scope of validation projects, develop plans, and manage projects to completion within timelines and budgets.
• Apply advanced statistical and ML techniques to assess performance, identify weaknesses, and propose remediation.
• Provide guidance and mentorship to junior validators and promote best practices.

Skills

R/Python/SAS

Model validation

Communication

Analytical thinking

Independent work

Cloud deployment

Education

Masters or PhD in statistics/math/econometrics/financial engineering/CS

Job description

Questrade Financial Group (QFG), through its companies - Questrade, Questbank, Questrade Wealth Management, Community Trust Company, Zolo, and Flexiti, provides securities and foreign currency investment, professionally managed investment portfolios, mortgages, real estate services, financial services and more. We use cutting-edge technology to help Canadians become much more financially successful and secure.

At QFG, we combine human-centric collaboration with AI-driven innovation to redefine financial services. The ideal candidate will be a catalyst for change, using AI to transform and deliver unparalleled customer experiences and shaping a future where AI empowers our teams to do their best work.

Join our diverse, inclusive, and hybrid workplace to unleash your creativity and nurture your curiosity without limits. If you share this sense of infinite possibility, come shape your future at QFG.

What’s in it for you as an employee of QFG?

• Health & wellbeing resources and programs
• Paid vacation, personal, and sick days for work-life balance
• Competitive compensation and benefits packages
• Work-life balance in a hybrid environment with at least 3 days in office
• Career growth and development opportunities
• Opportunities to contribute to community causes
• Work with diverse team members in an inclusive and collaborative environment

This job posting is for an existing vacancy.

We’re looking for our next Senior Manager, Model Validation. Could It Be You?

We are seeking a highly motivated and experienced Senior Manager to lead the validation of AI/ML and credit risk models within our Risk Management department. This critical role will be responsible for independently validating a wide range of models, including those used for credit card and mortgage origination, account management, and Expected Credit Loss (ECL) calculations. The successful candidate will possess strong technical skills in model development, validation, and risk management, with a deep understanding of statistical modeling, machine learning algorithms, and regulatory requirements. They will also have excellent communication skills and the ability to effectively collaborate with model developers, business stakeholders, and senior management.

In this role, responsibilities include but are not limited to:

• Lead and execute independent validation of complex AI/ML and credit risk models, ensuring they are conceptually sound, fair, unbiased, statistically robust, and compliant with regulatory requirements (e.g., OSFI E-23).
• Define the scope of model validation projects, develop validation plans, and manage projects to completion within established timelines and budgets.
• Apply advanced statistical and machine learning techniques to assess model performance, identify potential weaknesses, and propose remediation strategies.
• Enforce scientific rigor and ethical practices across all AI/ML initiatives.
• Evaluate model risk, including conceptual soundness, data quality, implementation, and performance monitoring.
• Prepare comprehensive validation reports documenting the validation process, findings, and recommendations. Present validation results to model owners, business stakeholders, and senior management.
• Effectively communicate validation findings and recommendations to model developers, business units, and senior management. Collaborate with stakeholders to address model weaknesses and improve model performance.
• Stay abreast of current and emerging regulatory requirements and industry best practices related to model risk management, particularly in the areas of AI/ML and credit risk.
• Provide guidance and mentorship to junior model validators, fostering a culture of continuous learning and development.
• Identify opportunities to improve the model validation process and enhance the effectiveness of model risk management.
• Evaluate the quality and suitability of data used in model development and validation, ensuring adherence to data governance policies.

So are YOU our next Senior Manager, Model Validation? You are if you…

• Masters or PhD degree in a quantitative field such as Statistics, Mathematics,Econometrics, Financial Engineering, or Computer Science.
• Minimum 7+ years of experience in model development, validation, or risk management within the financial services industry, with a focus on credit risk and/or AI/ML models.
• Strong understanding of credit risk modeling techniques, including:
• Credit scoring and origination models
• Account management models
• Expected Credit Loss (ECL) models (IFRS 9)
• Proficiency in statistical modeling and machine learning algorithms
• Experience with model validation methodologies and best practices.
• Strong programming skills in statistical software packages such as R, Python, or SAS.
• Excellent written and verbal communication skills, with the ability to effectively communicate complex technical concepts to both technical and non-technical audiences.
• Strong analytical and problem-solving skills.
• Ability to work independently and as part of a team.
• Knowledge of Canadian regulatory requirements for financial institutions (e.g., OSFI E-23) is highly desirable.
• Experience with credit card and mortgage portfolios is highly desirable.
• Experience with cloud-based model development and deployment is an asset.

Compensation Information:

• Base salary range: $140,000 - $180,000
• The final compensation package will be commensurate with the successful candidate's experience, skills, and geographic location (Canada). It includes a comprehensive benefits plan and a competitive incentive (bonus) program for Full-Time Permanent roles.

At Questrade Financial Group of Companies, with multiple office locations around the world, we are committed to fostering a diverse, inclusive and accessible work environment. This is an environment where individuals are treated with dignity and respect. Here, the unique skills and experience you bring will be valued. You will be supported and motivated, so that you can harness your unlimited potential. Our team reflects the diversity of the communities we serve and operate in. Having a collaborative and diverse team helps us push boundaries to bring the future of fintech into existence—not only for the benefit of our customers, but for those who build their career with us.

Questrade Financial Group of companies Applicant Tracking System utilizes artificial intelligence (AI) for application screening. The AI system operates on predetermined criteria, with final decisions subject to human review.

Candidates selected for an interview will be contacted directly. If you require accommodation during the recruitment/selection process, please let us know and we will work with you to meet your needs.