Senior Manager, GBM Model Risk Management (contract) (223405)

Requisition ID: 223405

Join a purpose driven winning team committed to results in an inclusive and high-performing culture.

Please note that this is a 12 month temporary full-time opportunity.

The Senior Manager Global Banking and Markets Model Risk Management is responsible for supporting the Head of GBM Model Risk Management in the development and execution of the Global Model Risk Policy specifically in the U.S. and Europe. The Program encompasses Model Risk oversight reporting governance communication and education. It provides independent oversight to review and challenge model use to ensure models are fit-for-purpose and meet Global regulatory expectations (i.e.: FRB SR 11-7 OSFI E-23 PRA SS 1/23).

Is this role right for you In this role you will:

• Manage the banks global model inventory for GBM to include all models in use and relevant metadata on models.
• Champion the Model Risk Management Policies and align with industry-standard practices while acting as a subject matter expert for GBM model governance and compliance.
• Oversee the model reviews conducted by Global Model Risk Management (GMRM) to ensure they meet applicable standards and business needs.
• Liaise with responsible parties to ensure that documentation is developed during the course of any project work to support the closure of gaps between regulatory expectations and current practice.
• Coordinate with Model Development Validation and Internal Audit to ensure that documentation is complete and sufficient to meet expectations in supporting an opinion of compliance with the regulator requirements.
• Respond to ad hoc enquiries by providing expert guidance to business groups to ensure that the interpretation of policies standards and processes are consistent relative to the Banks business and regulatory frameworks including the Basel Framework and related regulatory expectations.

Do you have the skills that will enable you to succeed Wed love to work with you if you have:

• 5 years experience preferably in risk management or banking related policy and process teams.
• Working knowledge of model risk management incl. understanding of any regulatory guidance in this space: Feds SR 11/7 OSFI e23 PRA SS 1/23
• Working knowledge of GBM (trading institutional lending prime brokerage advisory etc.) businesses. Understanding of the types of products involved how they are traded / priced / hedged / etc.
• Ability to understand the spirit of regulatory expectations via published guidance and how they translate into internal governance documents and tools (e.g. framework policy procedure standards templates etc.)
• Solid understanding of model development and validation best practices
• Ability to review and challenge model methodology and validation documentation including breadth / depth / frequency of model monitoring frameworks
• Ability to influence cross-functional / -global teams (i.e.: developers validators support functions such as finance / risk and business functions such as trading desks) and to articulate expectations to development / validation teams especially when the counterpart initially disagrees and may be more senior in the organization.
• Strong analytical and attention to detail skills.

Whats in it for you

• An inclusive & collaborative working environment that encourages creativity curiosity and celebrates success!
• We offer a competitive rewards package: Performance bonus Employee Share Ownership Program and Pension Plan Matching Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

Location(s): Canada : Ontario : Toronto

Scotiabank is a leading bank in the Americas. Guided by our purpose: for every future we help our customers their families and their communities achieve success through a broad range of advice products and services including personal and commercial banking wealth management and private banking corporate and investment banking and capital markets.

At Scotiabank we value the unique skills and experiences each individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including but not limited to an accessible interview site alternate format documents ASL Interpreter or Assistive Technology) during the recruitment and selection process please let our Recruitment team know. If you require technical assistance please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however only those candidates who are selected for an interview will be contacted.