Manager, Model Validation & Approval

Scotiabank•Toronto, ON

1d•Onsite

About The Position

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Looking for a highly motivated and qualified Model Validation team member to support its objectives. The primary responsibility of this role is to support the credit model validation team to mitigate the model risks under the model governance for the entire group. The team is responsible to discover and diagnose modeling related risks including input data, assumption, concept, methodology, process and implementation. The team is also responsible to opine on the model strength and weakness and recommend practical solutions.

Requirements

Proficient in mathematics, econometric models and statistics.
Strong analytical, numerical, research and problems solving skills.
Software skill: Python, SQL, SAS, R and Matlab.

Nice To Haves

1-2 years relevant experience in quantitative risk management field is preferred.
Experience with AIRB credit risk models is preferred.
Experience with financial statements analytics is an asset.

Responsibilities

Support the model validation team to mitigate the model risks
Discovers and diagnoses modeling related risks including input data, assumption, concept, methodology, process and implementation
Provides subject matter expertise on models’ strength and weakness and recommend practical solutions
Validates models assigned by model governance committee
Discusses validation results with model owners and governance team to gain consensus and create strategies to implement changes if needed
Utilizes express mode validation for new model development, facing legal and compliance related modeling issues, quick model fixes, etc.
Review model documents and conduct test runs on model codes
Provide different view on methodology and calculations, and provide feedback to model developers
Work on model validation reports with hiring manager and provide ad hoc support as necessary