AVP, Model Risk Governance

TD•Toronto, ON

1d•CA$155,000 - CA$215,000•Onsite

About The Position

This role is responsible for updating, extending, and championing the Enterprise Model Risk Policy and Model Risk Framework within the Bank. It involves overseeing the ongoing review of the Model Risk Management Framework, Policy, Procedures, Standards, and Templates, seeking opportunities to enhance stakeholder value. The position also oversees the operations of the Enterprise Model Inventory System, provides guidance for issue resolution, and leads strategic initiatives to improve its efficiency. A key responsibility is overseeing the production of periodic reporting to Senior Management, the Board, and Regulators in Canada and the US regarding the bank's model risk profile and adherence to the Model Risk Policy. The role establishes and oversees North American QA/QC processes, supports supervisory examinations, and oversees the development and execution of MRM training programs and robust controls across the model lifecycle. The AVP is expected to maintain professional knowledge in model risk management, share this expertise, and act as a subject matter expert. This includes frequent interaction with senior management and occasional engagement with external regulators, consultants, and industry peers, representing the Bank's interests. Building and maintaining strong working relationships with key model stakeholders in business units is crucial. The role also involves directing, training, and developing staff, promoting professional development, and ensuring compliance with TD Policies and regulatory requirements. Resource planning and mitigating key person risk are also part of the responsibilities, alongside creating an environment conducive to issue identification and escalation.

Requirements

In-depth knowledge of Model Risk Governance and industry best practices.
Working knowledge of key Model Risk Management regulation (e.g., SR26-2, E-23).
Deep understanding of all relevant model risk management regulatory requirements/expectations.
Skilled/experienced in dealing with regulators.
Extensive relevant working experience in Model Risk Management (e.g., Model Governance, Model Risk Audit, Model Validation, etc.), or closely related field, in a large bank, consulting firm or regulator.
Strategic Thinking – motivated to continuously find ways to enhance capabilities, processes and to strive to do things better.
Impact and Influence – proven leadership and ability to effectively collaborate, manage stakeholders and impact and influence others.
People Leadership – managing and motivating a diverse group of professionals with demonstrated experience in leading high performing teams.
Organizational Awareness – knowledge in how to engage the organization to get things done and speed in decision-making.
Relationship Building – manage relationships with key internal and external stakeholders.
Excellent written and verbal communication skills coupled with the ability to reach consensus among large number of stakeholders.
Strong collaboration and influencing skills.
Proven ability to educate and communicate complex concepts to non-technical audiences, business leaders and other stakeholders who do not necessarily have technical expertise in model risk management.
Natural project management skills and ability to deliver against deadlines with minimal direction and competing priorities.
Proven ability to deliver on time sensitive, complex projects that require interaction with multiple stakeholders.
Proven track record of promoting a positive and high performing work environment.
Understand and comply with TD Policies, regulatory and compliance requirements.
Demonstrate TD’s Leadership Profile in all professional and personal activities.

Responsibilities

Updating, extending, and championing the Enterprise Model Risk Policy and Model Risk Framework.
Overseeing the ongoing review of the Model Risk Management Framework, Policy, Procedures, Standards, and Templates.
Overseeing operations of the Enterprise Model Inventory System and providing guidance to resolve issues.
Leading strategic initiatives to create a more advanced and operationally efficient Enterprise Model Inventory System.
Overseeing the production of periodic reporting to Senior Management, the Board, and Regulators regarding the bank's model risk profile and adherence to the Model Risk Policy.
Establishing and overseeing the design and execution of North American QA/QC processes.
Supporting internal and external supervisory examinations and compliance exercises.
Overseeing the development and execution of MRM training programs for business units.
Establishing and overseeing the execution of robust controls across the model lifecycle.
Maintaining professional knowledge of techniques and developments in model risk management and sharing this knowledge.
Providing subject matter expertise on model risk management.
Interacting frequently with senior management and occasionally with external regulators, consultants, and industry peers.
Representing the interests of the Bank in external organizations and industry associations.
Building and maintaining working relationships with key model stakeholders in the bank's business units.
Establishing an environment that promotes respect for individual employees and adheres to Bank policies.
Directing, training, and developing staff to meet challenges, department objectives, and achieve full potential.
Initiating actions to further improve own and team's skills and performance.
Continuously looking for opportunities for professional development.
Understanding and complying with TD Policies, regulatory and compliance requirements.
Demonstrating TD’s Leadership Profile in all professional and personal activities.
Carrying out regular and proactive resource planning to ensure the team is positioned to deliver against its mandate.
Identifying and mitigating instances of key person risk.
Creating and maintaining an environment conducive to the timely identification and escalation of issues.
Approving policy exceptions per authority defined in MRM policy/procedures.
Developing and maintaining working relationships with various business units.
Supporting institutionalization of model risk and control principles throughout TD and ensuring consistency across enterprise MRM standards.
Leading efforts to identify and hire new talent for Model Risk Management.
Fostering appropriate Risk Culture.