Director, Model Validation, Global Model Risk Management (225877)
Director, Model Validation, Global Model Risk Management (225877)
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Job Description
Requisition ID: 225877
Join a purpose driven winning team committed to results in an inclusive and high-performing culture.
The Model Validation & Approval area within Global Model Risk Management provides independent and consistent model validation and approval across various risk types including market risk credit risk asset/liability risk management anti-money Laundry fraud and other key risks. Types of models covered include models used for derivative pricing/valuation capital models and other models used for financial reporting and risk position is for the Director role that oversees validation of credit risk capital models used for the Banks regulatory capital purposes.
Is this role right for you In this role you will:
- Provides direct leadership and oversight for the model validation function for Credit Risk Capital models ensuring that validations are conducted consistently with appropriate standards and follow regulatory requirements and internal policies/procedures.
- Leads a team of highly quantitative staff in managing a portfolio of new and existing models for credit risk capitals for the Banks retail and non-retail business lines. Oversee day-to-day validation activities review validation work and reports provide feedback for coaching/development and provide model approval recommendations to the department head and the model approving committee.
- Develop validation work plan prioritize validation assignments and manage timelines for special projects/initiatives. Manage the validation team in executing the work plan; manage resources including identifying recruiting coaching and retaining high-quality staff
- Provides insights and thought leadership to the team with respect to the technical quantitative and subject-matter aspects of the work.
- Works collaboratively with key multi-disciplinary stakeholders (including model developers users internal audit senior management and regulatory bodies) to facilitate the validation process and resolve discussions / escalations of validation results in a timely manner.
- Maintains effective internal communication across the Model Risk Management team as well as effective lines of communication with stakeholders and senior management including appropriate handling of conflicts and issue resolution.
- Manage timely resolution of audit and regulatory issues.
- Lead and/or support regulatory requests and reviews as well as large-scale projects.
- Participates in industry forums; maintains relationships with counterparts at other financial institutions to keep abreast of industry and regulatory developments and evolving expectations.
- Understands how the Banks risk appetite and risk culture should be considered in day-to-day activities and decisions. Ensures compliance with internal policies procedures and regulatory requirements where applicable.
- Builds a high-performance environment and implements a people strategy that attracts retains develops and motivates their team by fostering an inclusive work environment communicating vison/values/business strategy and managing succession and development planning for the team.
Do you have the skills that will enable you to succeed in this role - Wed love to work with you if you have:
- The incumbent has an advance degree (preferably masters or PhD) in quantitative disciplines such as Mathematics Statistics Economics or other fields that provides excellent exposure to quantitative/statistical methods.
- 10 years of experience in credit risk modelling at a major financial institution.
- 7 years of experience in addressing regulatory issues and developments related to credit risk modelling.
- 7 years of people management experience.
- Thorough understanding of credit risk decisioning provisions and capital models with extensive experience in model development/validation along with detailed knowledge of regulatory requirements and policies/procedures.
- Strong computing analytical and technical skills
- Forward and thinking to identify emerging regulatory/market requirements on credit risk analytics.
- Excellent interpersonal relationship-building people management and coaching skills. In all these instances significant reliance is placed on the incumbent to communicate complex issues effectively and constructively to stakeholders across business lines and regularly to senior management.
- Be able to handle stressful situations/environment simultaneous tasks under multiple concurrent work streams and meet monthly / quarterly and ad-hoc deadlines.
- Have a strong hands-on orientation to modelling theory data analysis and validation work.
- Team leadershipto promote excellence in review and validation work as well as general acceptance of and confidence in the outputs produced by the area.
- Flexibility and creativity in problem solving including strong abilities of innovation and path-finding.
- Strong ability to devise and implement operational frameworks processes controls and documentation approaches for a team comprising of specialized quantitative staff.
- Maintains awareness of and involvement in regulatory and best practice developments from a wide variety of regulatory and industry bodies worldwide.
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.
Required Experience:
Exec
Employment Type
Full Time
