🕒 7 days ago
Independently investigate complex merchant risk alerts, assess fraud and acquiring risks, and recommend actions while communicating findings and supporting quality, mentoring, and process improvements.
Manager, Model Validation
🕒 18 days ago
Model ValidationModel Risk ManagementModel GovernanceQuantitative Modeling
📜 Description
- Plan and execute model validation reviews, contributing to validation strategies and plans.
- Review model assumptions, methodologies, data, intended use, limitations, and system implementation.
- Conduct outcome, sensitivity, scenario, stress, benchmark, implementation, and user acceptance testing.
- Prepare validation reports, document weaknesses and recommendations, and assess model risk and appropriate use.
- Support model governance activities, including metadata tracking, annual attestations, and risk reporting.
- Advise stakeholders on model risk practices, share industry and regulatory insights, and escalate complex issues.
🛠️ Requirements
- A Master’s degree or higher in Mathematics, Mathematical Finance, Statistics, Physics, Engineering, Economics, or an equivalent quantitative discipline.
- Minimum of 3 years of experience (5 years preferred) in quantitative modeling and/or model validation within the financial industry.
- Experience within financial services or another highly regulated environment strongly preferred.
- Strong understanding of model risk management and governance.
- Strong understanding of risk management principles and practices.
- Strong experience with programming languages, which may include Python, R, SAS, C++, C#, Java, and MATLAB.
- Excellent analytical and problem-solving capabilities.
- Excellent project management, time management, and organizational skills.
- Excellent technical documentation and report-writing skills.
- Excellent communication skills.
✨ Benefits
- Competitive discretionary bonus
- Market-leading RRSP match program
- Medical benefits
- Dental benefits
- Vision benefits
- Life insurance
- Disability benefits
- Employee Share Purchase Plan
Full job description
Join a Challenger
At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.
We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.
What's kept us moving? The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.
If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity.
We can’t wait to get to know you!
The Work
The Manager, Model Validation reports to the Director, Model Risk Management and supports the delivery of model validation activities across the Bank. The role executes validation procedures, contributes to validation strategies, and supports the effective management of model risk in accordance with the Bank's Model Risk Management Framework and applicable regulatory requirements. The scope includes models used for credit and treasury risk management, including AIRB and IFRS 9 ECL, interest rate risk, liquidity risk, and stress testing approaches used to support ICAAP.
The role works closely with model risk stakeholders and conducts detailed reviews of model methodologies, assumptions, intended use, limitations, inputs, implementation, and performance. Responsibilities include completing benchmark and outcome analyses, documenting issues and recommendations, drawing evidence-based conclusions, and preparing model validation reports in accordance with the Bank's Model Risk Management Framework (MRMF). The primary focus is the execution of model validation activities, with additional support provided for model governance activities such as regulatory self-assessments, annual attestations, and risk reporting.
Model Validation Projects (85%)
Model Risk Management Culture Enablement and Stakeholder Relationship (15%)
Let's Talk About You!
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