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Senior Manager, Retail Stress Testing, Global Risk Management

Scotiabank

Toronto

On-site

CAD 90,000 - 120,000

Full time

Today
Be an early applicant

Job summary

A leading financial institution is seeking a Senior Manager for Retail Stress Testing in Toronto. This role involves developing and analyzing credit risk stress testing models that influence business strategy. The ideal candidate will have an advanced degree in a quantitative field and expertise in programming, particularly Python. Competitive benefits include performance bonuses, health benefits, and career development opportunities.

Benefits

Performance bonus
Employee Share Ownership Program
Pension Plan Matching
Health Benefits from day one

Qualifications

  • Advanced modeling skills, e.g., statistical models, machine learning.
  • Experience with large datasets and optimization of code.
  • Stress testing experience is desirable.

Responsibilities

  • Lead the design and development of stress testing models.
  • Validate accuracy of model outputs and develop visualization tools.
  • Collaborate across teams to ensure model compliance.

Skills

Advanced quantitative modeling skills
Experience with Python
Experience in credit risk modeling
People management experience
General knowledge of a bank's financial statement

Education

Advanced degree in Statistics, Economics, Finance, or related discipline

Tools

Python
Git
Basic Linux/UNIX
Job description
Senior Manager, Retail Stress Testing, Global Risk Management

Enterprise Stress Testing’s (“EST”) mandate is to design and run the Bank’s stress testing program. We need a strong individual to help with credit risk stress testing of the Bank’s retail portfolio. You will get the opportunities to apply your technical skillset and analytical mindset in building credit risk models and providing stress testing insights across geographies and products.

This role has the potential for direct impact on business strategy with stress testing as a decision-making tool by senior management in Global Risk Management as well as Finance executives and the Board.

In this role, you will:

  • Leadership and Strategy: Provide thought leadership by developing innovative solutions to emerging challenges in credit risk stress testing. Demonstrate a strong sense of ownership and initiative by independently driving work forward – from ideation to execution – without requiring close supervision.
  • Model Development: Lead the design and development of credit risk stress testing models that forecast credit quality migration under stressed macroeconomic conditions for retail portfolio.
  • Stress Test Implementation: Apply these models to generate stress testing results – including ECL, PCL, and RWA – under various macroeconomic scenarios.
  • Result Analysis and Reporting: Conduct detailed analysis to validate the accuracy and explainability of model outputs. Develop robust data visualization tools and standards to support complex scenario analysis.
  • Emerging Risk Analysis: Perform supplementary analyses and develop methodologies to address emerging risk themes such as climate change, geopolitical instability, elevated consumer indebtedness, and housing market pressures etc.
  • Cross-Functional Collaboration: Collaborate with model validation, internal audit, and other model development teams to ensure alignment with industry best practices and maintain model compatibility and compliance across frameworks.

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

  • Advanced degree in Statistics, Economics, Finance, Mathematics, Data Science, or other related quantitative discipline
  • Advanced quantitative modeling skills (e.g., advanced statistical models, machine learning, data science/analysis, econometric models)
  • Experience with Python is required. Experience with Spark is an asset.
  • Working knowledge of basic Linux or UNIX systems is an asset. Experience with version control software (e.g. Git) is an asset
  • Experience in working with large dataset and optimization of code
  • Experience in credit risk modeling related to PD and/or LGD
  • Stress testing experience is desirable
  • People management experience is an asset
  • General knowledge of a bank’s financial statement with a good understanding of credit products and provisions for credit losses (PCL)
  • Working knowledge of RWA and capital requirement under Basel III regulations is an asset
  • Experience with leading transformational projects
  • Experience with presenting analytical findings and business insights

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.

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.

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