Manager, IFRS9 Modelling, Enterprise Stress Testing

Scotiabank • Toronto, ON

2d • Onsite

About The Position

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.

Requirements

• Advanced degree in Statistics, Economics, Finance, Mathematics, Data Science, or a related quantitative discipline.
• Proven expertise in quantitative modeling, including statistical analysis, econometrics, machine learning, and data science techniques.
• Proficiency in Python is required.
• Demonstrated experience working with large and complex datasets and optimizing code for performance and scalability.
• Hands-on experience in credit risk modeling, particularly related to Probability of Default (PD) and/or Loss Given Default (LGD).
• Strong communication skills, with the ability to convey complex analytical insights to diverse audiences.
• Solid understanding of banking financial statements, retail credit products, and credit risk modelling.

Nice To Haves

• experience with Spark
• Familiarity with Linux or UNIX systems and version control tools such as Git or Bitbucket is advantageous.
• Exposure to stress testing frameworks and methodologies is desirable.
• Working knowledge of Risk-Weighted Assets (RWA) and Basel capital requirements is an asset.
• Experience leading or contributing to transformational projects.
• Track record of presenting analytical findings and business insights effectively.

Responsibilities

• Design and develop credit risk stress testing models that forecast credit quality migration under stressed macroeconomic conditions for retail portfolio. This involves models for PD, downgrade rates, and LGD.
• Apply these models to generate stress testing results – including ECL, PCL, and RWA – under various macroeconomic scenarios. Continuously optimize code repositories to ensure efficiency, accuracy, and production-readiness.
• Conduct detailed analysis to validate the accuracy and explainability of model outputs. Develop robust data visualization tools and standards to support complex scenario analysis. Prepare and deliver stress testing reports to internal stakeholders and external regulators, including OSFI.
• 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.
• Collaborate with model validation, internal audit, and other model development teams (e.g., AIRB, IFRS 9, Capital Management) to ensure alignment with industry best practices and maintain model compatibility and compliance across frameworks.

Benefits

• A competitive compensation and benefits package.
• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development.
• An organization committed to making a difference in our communities– for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

What This Job Offers

• Job Type: Full-time
• Career Level: Manager