Director, Treasury, Finance, and Stress Testing Model Validation
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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 Model Risk Management (MRM) team is responsible for ensuring that model risk is appropriately managed according to the Banks Model Risk Policy and Standards and compliant with regulatory requirements.
Reporting to the Vice President of MRM the incumbent will support the VP in fulfilling MRMs mandate with respect to model validation activities of various Treasury methodologies on asset liability management interest rate risk and liquidity risk management as well as methodologies supporting stress testing finance model validation approaches etc. The incumbent is expected to play a key role in the development of strategies processes and procedures to validate all credit risk models applied in production on an enterprise-wide basis and in executing the required validation procedures. The incumbent will also be responsible for ensuring model risk is appropriately managed according to the Banks Model Risk Policy and Framework and comply with regulatory requirements.
The incumbent will be instrumental in fostering the relationship with Model Development teams. The work scope includes validating model methodology evaluating the reasonability of assumptions identifying model use restrictions and limitations examining the quality of model inputs; establishing benchmarks; conducting additional quantitative and qualitative analysis articulating findings recommendations and conclusions and completing the model validation report that meets the banks model risk management standards.
- Plan execute and report model validations.
- Assess the quality of model data and monitor the model performance.
- Develop validation strategies and testing procedures.
- Communicate key model validation conclusions ensuring that complex concepts are understood by key stakeholder.
- Manage the project timeline diligently.
- Exercise reasonable judgment in decision-making and advise VP MRM.
- Draw upon your experience and knowledge to lead and/or support appropriate model risk assessments consistent with the models risk content and intended usage.
- Educate influence and hold accountable key stakeholders to manage model risk for in-scope models according to the Banks Model Risk Policy and relevant OSFI guidelines (for example E-23 Model Risk Management Guidance B-6 Liquidity Principles and B-12 Interest Rate Risk Management).
- Assist VP MRM in providing independent review and opinion to support the asset and liability Committees approval of model assumptions.
- Model Risk Governance: Support the Model Risk Governance function on model risk policy development and review compliance to model risk management policies processes and regulatory requirements maintenance of model inventory model issue tracking and reporting.
- A Masters degree or higher in Math Applied Math Computer Science Math Finance Economics or equivalent quantitative background.
- 7 years experience in Treasury risk model validation or model development in a financial institution advanced in mathematical and statistical derivations quantitative techniques and qualitative justifications regulatory requirements and industry practices.
- 3 years experience in Enterprise-wide models such as ICAAP models and stress testing models
- Extensive understand model risk management principles and practices
- Extensive knowledge of related business and management processes.
- Advanced programming skills in Python SQL MATLAB Excel VBA with macro. Previous experience in data analytics is preferred.
- Excellent analytical skills and communication skills in both written and verbal format.
- Excellent project management and time management skills.
- Excellent technical documentation and report-writing skills.
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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Director
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.
