Senior Manager Risk Model Validation

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

Job summary

An established industry player is seeking a Senior Manager for Model Risk Validation in their Canadian Banking division. In this pivotal role, you will assess and validate credit scoring models, ensuring they meet regulatory standards and best practices. Your expertise in quantitative analysis and model development will be crucial as you collaborate with various stakeholders to enhance model performance. This position offers a unique opportunity to influence key decisions within a dynamic team, driving innovation and excellence in risk management. Join a company that values growth, collaboration, and community impact.

Benefits

Comprehensive Total Rewards Program

Flexible Benefits

Leadership Development Opportunities

Agile Work Environment

Impactful Work

Qualifications

• Experience in model development or validation, especially in credit risk.
• Strong analytical skills and proficiency in programming languages like Python.

Responsibilities

• Validate credit scoring models and provide recommendations.
• Monitor model performance and ensure compliance with policies.

Skills

Model Validation

Credit Risk Modeling

Python

SQL

Analytical Skills

Communication Skills

Artificial Intelligence

Machine Learning

Logistic Regression

Critical Thinking

Education

Postgraduate Degree in Quantitative Field

Tools

Hadoop

Spark

Tableau

Github

Job description

Job Summary

Job Description

What is your opportunity?

The Senior Manager, Model Risk Validation will be responsible for validating origination and account management credit scoring models within RBC’s Canadian Banking platform. Your role is to independently assess and provide an objective opinion on the soundness of credit risk models using both qualitative and quantitative industry best practices. Specific activities include collaborating with model developers, opining on the adequacy of model documentation, assessing the suitability of models for their intended purpose, reviewing data inputs and outputs, building benchmark models to support validation conclusions, ensuring compliance with internal policies as well as regulatory requirements, communicating validation results, and providing recommendations for improvements.

What will you do?

• Perform initial review and validation of newly developed credit models and make recommendations supporting use of the model.

• Employ various quantitative and qualitative techniques to review, test, replicate, and assess credit risk models.

• Assess and benchmark modeling methodologies.

• Utilizing strong analytical and written communication skills to execute ongoing model validations once models reach their expected outcome period for all Canadian Banking credit risk models as governed by RBC’s Enterprise Model Risk Management policy.

• Monitor model performance reporting on an on-going basis to ensure models perform as expected.

• Support the designated Model Approval Authority Officer with oversight of key governance responsibilities including completion of model inventories, model risk ratings, annual assessments and validation reports.

• Developing comprehensive reports summarizing key observations, conclusions, and recommendations in support of completed model validations.

• Ensure model validations are planned and completed in accordance with timelines established in the Enterprise Model Risk policy based on each model’s materiality and uncertainty rating.

What do you need to succeed?

Must-Haves

• Model development or model validation experience, preferably related to credit risk models used within the financial services industry. A strong understanding of retail credit risk modeling theories, principles and industry best practices.

• Experience with artificial intelligence / machine learning modeling techniques as well as logistic regression modeling techniques.

• Proficient in python or similar open-source programming languages (i.e. R, or Scala, PySpark) and code sharing solutions (Github).

• Comfortable working with large data sets. Solid understanding of data extraction and data mining, proficiency in SQL.

• Effective presentation and communication skills, with strong written capabilities essential. Strong consensus-building skills.

• Post graduate degree in a quantitative field of study (i.e. PhD, Master of Mathematical Finance, Statistics, Data Science or comparable).

• Strategic thinker with superior interpersonal, verbal and written communication skills.

Nice-to-Haves:

• Knowledge of Canadian retail banking products and processes.

• A strong understanding of RBC’s policies, procedures, systems, risk appetite, risk tolerance, strategies and the overall role of risk management within RBC is a definite asset.

• Experience with Hadoop, Spark and similar data storage and processing tools. Experience with deep learning methodologies. Familiar with Tableau or other data visualization tools.

What’s in it for you?

We thrive on the challenge to be our best, thinking progressively to keep growing, and working together to deliver trusted advice to help our clients thrive and communities prosper. We care about each other, reaching our potential, making a difference to our communities, and achieving success that is mutual.

• A comprehensive Total Rewards Program including bonuses and flexible benefits

• Leaders who support your development through coaching and managing opportunities

• Ability to make a difference and lasting impact

• Work in an agile, collaborative, progressive, and high-performing team

• The opportunity to interface with executives from many different parts of the organization

Job Skills

Critical Thinking, Economic Analysis, Risk Control, Scoring Models

Additional Job Details

Address:

RBC WATERPARK PLACE, 88 QUEENS QUAY W:TORONTO

City:

TORONTO

Country:

Canada

Work hours/week:

37.5

Employment Type:

Full time

Platform:

GROUP RISK MANAGEMENT

Job Type:

Regular

Pay Type:

Salaried

Posted Date:

2025-05-06

Application Deadline:

2025-05-21

Note: Applications will be accepted until 11:59 PM on the day prior to the application deadline date above

Inclusion and Equal Opportunity Employment

At RBC, we believe an inclusive workplace that has diverse perspectives is core to our continued growth as one of the largest and most successful banks in the world. Maintaining a workplace where our employees feel supported to perform at their best, effectively collaborate, drive innovation, and grow professionally helps to bring our Purpose to life and create value for our clients and communities. RBC strives to deliver this through policies and programs intended to foster a workplace based on respect, belonging and opportunity for all.

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