Senior Specialist, Modelling

CMHC - SCHL • Vancouver, BC

2d • CA$104,180 - CA$130,225 • Hybrid

About The Position

Join the Model Risk Management team, in the Senior Specialist Modelling position. In this role, you will apply advanced actuarial and analytical skills, along with a strong understanding of the Canadian financial and mortgage sectors, to support CMHC’s modelling initiatives, including model development and validation, and the interpretation of model results to inform decision making, enhance risk management and build automated systems. This is a temporary position of a duration of 18 months.

Requirements

• A postgraduate degree or higher in quantitative disciplines such as finance, mathematics, economics, statistics or actuarial sciences.
• A minimum of five years of experience in modelling or quantitative analytics at a bank, insurance company, asset manager or other type of financial institution. An equivalent combination of education and experience will be considered.
• Strong actuarial and quantitative foundation, including a solid understanding of mathematical finance, risk management, pricing principles and actuarial methodologies.
• Proficiency in Python for model development, data analysis and automation; working knowledge of R and/or SAS.
• Knowledge of model risk management concepts, governance frameworks and validation best practices.
• A good understanding of the Canadian financial sector, real estate markets and the mortgage ecosystem.
• Excellent analytical, written communication and presentation skills.

Nice To Haves

• An actuarial designation (FCIA, FSA or equivalent) or significant progress toward one.
• Knowledge of large language models (LLMs) and agentic AI frameworks, along with their practical applications in financial services.
• A hands-on experience with generative AI (GenAI) tools and big data ecosystems (e.g., Hadoop, HDFS, Hive, Spark).
• An experience working in a regulatory environment or with OSFI supervisory processes.

Responsibilities

• Validate a wide range of models (actuarial, financial, pricing, risk and AI — including ML, LLM and generative AI) by assessing their assumptions, methodologies and risk levels.
• Ensure regulatory and governance compliance, including adherence to CMHC’s Model Risk Management Policy, OSFI’s E-23 guideline, IFRS 17 standards and regulatory capital frameworks.
• Apply rigorous quantitative methods and structured monitoring, including econometrics, economic capital modelling, and statistical analysis (Python, R, SAS), while establishing performance metrics, comprehensive documentation and change management controls.
• Co-develop and maintain quantitative models used for underwriting, pricing, stress testing, capital adequacy, business analytics and automated tools, ensuring full lifecycle management in accordance with model risk management policies.
• Provide technical and analytical expertise.
• Analyze business challenges and deliver recommendations using modelling and validation expertise, ensuring models accurately reflect current market conditions and dynamics.
• Support and guide stakeholders in using and interpreting models by clearly communicating results, model risks and limitations.
• Foster effective and sustainable collaboration with internal and external partners to support knowledge transfer, operational compliance and the long-term sustainability of systems and automated tools.

Benefits

• Accrued vacation.
• Annual individual performance bonus.
• Group insurance coverage 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.

What This Job Offers

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