Associate Director, REM Modelling
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Job Summary
Join a Challenger
At EQ were 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.
Weve been at this since 1970 challenging the conventions of traditional banking with smarter faster and more connected financial experiences.
Whats 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 youre driven to help reshape how banking works for Canadians and the businesses that power our economy this could be your next big opportunity.
We cant wait to get to know you!
The Associate Director REM Modelling (ADRM) is responsible for the development enhancement implementation and ongoing monitoring of quantitative models supporting the Banks Reverse Mortgage (REM) business. The role provides actuarial and analytical leadership across portfolio forecasting risk quantification capital assessment stress testing pricing analytics and strategic business decision-making.
The incumbent will be a subject matter expert in reverse mortgage modelling leveraging advanced actuarial statistical and predictive analytics techniques to assess portfolio performance and emerging risks. The role requires significant hands-on actuarial modelling experience including the application of mortality longevity survival and stochastic modelling techniques in a financial services environment. The role partners closely with the Reverse Mortgage business Credit Risk Finance Treasury Model Risk Management (MRM) and other stakeholders to support profitable growth effective risk management and regulatory compliance.
The Associate Director will be accountable for ensuring modelling methodologies are robust well-documented independently reviewable and aligned with internal model governance standards.
Model Development & Portfolio Analytics
- Lead the development enhancement and ongoing maintenance of quantitative models supporting the Reverse Mortgage portfolio.
- Develop forecasting models for reverse mortgage balances portfolio growth loan-to-value (LTV) evolution profitability and portfolio performance.
- Design and maintain actuarial and predictive models related to borrower longevity mortality voluntary move-out behaviour prepayment activity and property disposition assumptions.
- Develop and maintain house price appreciation and property value forecasting methodologies supporting portfolio risk assessments.
- Build analytical frameworks used to evaluate capital requirements stress testing outcomes and portfolio resilience under adverse economic scenarios.
- Develop behavioural and scenario-based forecasting models to support strategic planning budgeting and long-range business forecasts.
- Assess emerging trends and risks impacting the reverse mortgage portfolio including housing market dynamics demographic changes longevity risk and interest rate environments.
- Perform model recalibrations performance monitoring back-testing benchmarking and remediation activities.
- Develop risk-based pricing analytics and profitability models to support business strategy and product optimization.
- Support portfolio management and business decision-making through advanced analytics and risk insights.
- Partner with Technology and Data teams to implement modelling solutions within production environments.
- Ensure model documentation is complete transparent and validation-ready.
- Support internal audits regulatory reviews and model validation activities by providing technical expertise and documentation.
Capital & Stress Testing
- Develop and maintain Reverse Mortgage stress testing methodologies and scenario frameworks.
- Support capital adequacy assessments related to reverse mortgage exposures.
- Quantify the impact of changes in property values interest rates longevity assumptions and borrower behaviour on portfolio performance.
- Support enterprise stress testing and capital planning initiatives as they relate to the REM portfolio.
Technical Leadership
- Act as a subject matter expert on reverse mortgage analytics and actuarial modelling.
- Promote best practices across model development governance validation and documentation.
- Evaluate emerging modelling methodologies tools and industry practices.
- Provide technical guidance and challenge to modelling initiatives across Risk Analytics.
Stakeholder Relationship Management
- Develop strong relationships with leaders across Reverse Mortgages Credit Risk Finance Treasury Risk Management and Technology.
- Translate complex modelling outputs into actionable business insights for senior stakeholders.
- Communicate model limitations assumptions risks and results clearly to technical and non-technical audiences.
- Escalate significant risks model limitations and issues to senior management when required.
- Bachelors degree in actuarial science Mathematics Statistics Economics Financial Mathematics Data Science or a related quantitative discipline.
- Associate or Fellow actuarial designation (ACIA FCIA ASA FSA or equivalent) strongly preferred.
- Masters degree in a quantitative discipline is considered an asset.
- 7 years of experience in actuarial modelling predictive analytics risk modelling or quantitative analytics within financial services.
- Experience developing forecasting and portfolio risk models.
- Strong understanding of actuarial methodologies including mortality longevity survival analysis risk forecasting and stochastic modelling.
- Experience working with mortgage lending insurance or consumer finance portfolios considered a strong asset.
- Advanced knowledge of statistical modelling predictive analytics and machine learning techniques.
Equity Diversity & Inclusion
EQ is committed to building an inclusive accessible environment where every employee feels valued respected and supported. We believe our organization is stronger and our people thrive when we honour and celebrate diverse experiences identities and perspectives. Were equally committed to supporting your growth both professionally and personally.
We provide a barrierfree recruitment process and work environment. If you require accommodations at any stage we will work with you to ensure you can bring your best self to the process and beyond.
As part of our recruitment process EQ uses AI to help screen assess and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.
EQB Inc. (TSX: EQB) is the parent company of Equitable Bank the countrys seventh-largest Schedule I bank by assets which operates EQ Bank Canadas Challenger Bank. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.
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About Company
At Equitable Bank, we specialize in providing branchless financial services that meet the unique needs of all Canadians. Our range of mortgages, savings accounts and investment options are designed to offer the right solutions to match any unique circumstance.
