Senior Specialist, Modelling

Canada Mortgage and Housing Corporation; Canada; Remote; CAD 80,000 - 100,000; Full time

Job summary

A governmental housing agency in Canada is seeking a Senior Specialist in Modelling. In this role, you will perform model validation and apply your analytical skills to enhance decision-making in the financial sector. The ideal candidate should possess a postgraduate degree and significant experience in quantitative analytics. This position offers a collaborative work environment and an opportunity to make meaningful contributions to housing systems.

Benefits

Annual Paid vacation

Annual individual performance incentive

Comprehensive group insurance

Support for personal and professional growth

Inclusive workplace culture

Qualifications

• Minimum three years of experience in modelling/validation or quantitative analytics.
• Ability to write technical modelling or validation reports.
• Experience with Machine Learning algorithms.

Responsibilities

• Perform validation of different models including credit risk and machine learning.
• Design and implement statistical tests to assess model sensitivity.
• Monitor model performance and identify opportunities to improve.

Skills

Statistical and econometric modelling

R

Python

VBA

Databricks

Cloud technologies

Education

Postgraduate degree in Quantitative Finance, Mathematics, Statistics, Data Science, or equivalent

Job description

Overview

The work you do and the work we do together matters. We come to work every day with a common purpose: to contribute to a well-functioning housing system.

At CMHC, we hold ourselves accountable for our results and support our colleagues in their achievements. We thrive on collaboration, connecting across CMHC and involving the right people to get our work done. Our leadership style is guided by trust, where our leaders favour an adaptive approach based on the needs of their teams.

Join us and be part of a team that's committed to making a real difference and be part of something meaningful.

What’s in it for you

We’ve got the purpose, the people and the perks you need for a fulfilling career. Here’s the comprehensive and generous benefits you get when you’re a permanent employee:

• Annual Paid vacation.
• Annual individual performance incentive.
• Comprehensive group insurance plan to support your well-being from day one.
• Support towards your personal and professional growth with training, mentorship and more.
• An inclusive workplace culture and environment.

About the role

Join the Model Risk Management division, Model Validation team, in the Senior Specialist, Modelling position. In this role, you will apply your advanced analytical skills and knowledge of Canada’s financial and mortgage sectors to modelling initiatives at CMHC, including model development, model validation and the interpretation of model results with the ultimate purposes of informing decision making, enhancing risk management and building automated systems.

What you’ll do

• Perform validation of different models including credit risk, economic capital, pricing, stress testing, actuarial, IFRS17, forecasting, securitization, and machine learning models to assess model fitness for purpose and performance.
• Design and implement statistical tests to assess model sensitivity, robustness, and (ongoing) performance.
• Assess model soundness and risk in both approach and usage.
• Monitor model performance to ensure ongoing quality, and proactively identify opportunities to improve existing models and analytical tools.
• Draft comprehensive validation report and discussing model issues with different stakeholders (model owners, developers, users, etc.).
• Make sound and balanced decisions on complex issues and provide expertise to ensure the Corporation is not at undue risk.
• Help improve model validation procedures and model risk governance to reflect industry best practices.

What you should have

• A postgraduate degree (Master or PhD) in Quantitative Finance, Mathematics, Statistics, Data Science, Actuarial Science, Finance, Economics or other quantitative field or an equivalent combination of education and experience.
• A minimum of three years of relevant experience in modelling/validation or quantitative analytics at a bank, insurance company, asset manager or other types of financial institution.
• Strong knowledge of statistical and econometric modelling.
• Demonstrated knowledge and experience with various quantitative software such as R, Python, VBA, Databricks, Clouds, etc.
• Knowledge of mortgage loan insurance and securitization activities.
• Knowledge of OSFI capital rules and risk management standards and IAIS capital standards.
• Demonstrated experience in writing technical modelling or validation reports.
• Demonstrates the ability to persuade, influence, and negotiate effectively with colleagues, clients, and senior management, while also possessing strong analytical skills to research issues, analyze problems, synthesize information, and provide sound recommendations.

It would be great if you also had

• A professional designation (Financial Risk Manager, Professional Risk Manager, Chartered Financial Analyst, Actuarial, Certificate in Quantitative Finance, etc.).
• Demonstrated experience with mortgage insurance, retail lending, scorecard development, economic capital, and stress testing.
• An experience with Machine Learning algorithms and Probabilistic Modelling.

Posting closing date

Note, the competition will remain active until filled.

Diversity, equity, and inclusion

We’re committed to employment equity and encourage women, Indigenous Peoples, persons with disabilities, veterans and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions to apply. We also welcome applications from non-Canadians who are eligible to work in Canada.

CMHC is an inclusive workplace where diversity of thought – and of people – are recognized, valued, and considered essential to achieving our mission.

We know that applying for a new job can be both exciting and daunting, and we appreciate your effort. Learn more about our hiring process. If you are selected for an interview or testing, please advise us if you require an accommodation.

If you applied before and you were not successful don’t worry – we're always posting new positions, so don’t hesitate to give it another shot. We’re excited to see what you bring to the table this time around!