Director, Model Risk Management

Our Story & Purpose

Were Vancity a member-owned credit union built on the principles of inclusion and social justice. Since 1946 our relentless commitment to these values has helped us challenge the status quo and break down barriers. Weve made bold commitments to become net-zero by 2040 across all mortgages and loans and were advancing meaningful strategies in Indigenous banking and financial resilience for our members.

As the largest private-sector Living Wage Employer in Canada were proud to be consistently recognized as one of the countrys Top Employers. If youre ready to join a team of 2300 purpose-driven individuals access competitive rewards and benefits and be part of a greater movement we invite you to apply.

Your Role in Supporting Our Members

As the Director Model Risk Management (MRM) you will lead the establishment and ongoing development of Vancitys enterprise Model Risk Management function. You will be responsible for designing and implementing the frameworks governance standards and operating practices that enable effective second-line oversight of model risk across the organization while providing independent review and challenge to ensure models are used responsibly and in line with Vancitys risk appetite and regulatory expectations.

This is a full-time permanent role reporting directly to the Vice President Risk Management Finance & Treasury (RMFT) and is foundational to the development of Vancitys newly established Finance & Treasury Risk function. You will work closely with Treasury Finance Risk and senior leadership to embed model risk governance into decision-making strengthen oversight of model use and support Vancitys financial sustainability regulatory compliance and long-term resilience. Our head office is based in Vancouver with a hybrid working model and flexibility for candidates based in British Columbia or Ontario.

How Youll Make an Impact

• Lead the enterprise-wide design and implementation of Vancitys Model Risk Management capability including policies governance structures operating principles reporting standards and escalation pathways
• Establish and oversee a comprehensive enterprise model inventory covering all internal and third-party models with clear classification criteria materiality tiers lifecycle governance and ownership accountability
• Design and apply a proportionate risk-based model governance and validation approach ensuring governance intensity is aligned to model materiality complexity and risk impact
• Design and oversee a risk-based model validation framework and validation schedule including prioritization of validation activities based on model materiality complexity and risk and oversight of validation outcomes and remediation actions
• Ensure appropriately rigorous challenge across high-impact models spanning IRRBB liquidity capital credit and other risk domains aligned with regulatory and industry-leading practices
• Act as Vancitys senior authority on model governance providing independent oversight of conceptual soundness data lineage performance monitoring and model change activities
• Oversee governance and risk management of advanced analytics AI/ML and third-party/vendor models including explainability bias considerations performance monitoring and change controls
• Identify systemic model-risk issues elevate governance maturity and influence senior leadership decisions related to model reliance limitations and risk acceptance
• Serve as the primary liaison for model risk matters with regulators Internal Audit and senior executives
• Build enterprise-wide awareness of model risk through education guidance and proactive communication on emerging regulatory expectations and best practices

What Youll Bring to the Team

• Bachelors degree in Finance Economics Mathematics Engineering Data Science or a related quantitative discipline
• Masters degree (e.g. Finance Financial Engineering Economics Data Analytics or MBA with a quantitative focus) strongly preferred
• 1015 years of progressive experience in Model Risk Management quantitative risk model governance or model development within a financial institution or regulatory environment
• Professional designation such as FRM PRM CFA or equivalent
• Deep expertise in model lifecycle governance regulatory expectations (OSFI BCFSA) and data governance principles
• Proven strategic leadership capability to design build and operationalize a new or evolving model-risk function
• Strong analytical and critical-thinking skills with the ability to translate complex quantitative issues into clear actionable governance guidance
• Exceptional communication and influencing skills including the ability to provide constructive challenge and shape senior-level decision-making
• Demonstrated ability to align cross-functional stakeholders and drive adoption of governance standards across Risk Treasury Finance and business teams
• High levels of judgment discretion and accountability when navigating regulatory expectations and model-risk escalations

Youll Thrive Here If You Are:

• A builder at heart You are energized by creating clarity structure and discipline where frameworks and governance need to be established or elevated
• Comfortable with ambiguity You are able to define the right level of rigor while balancing regulatory expectations business needs and practical execution
• Naturally systems-oriented You see how models data controls and decisions connect across Treasury Finance Risk and the broader enterprise
• Fluent in technical depth and executive dialogue You are able to translate complex quantitative concepts into clear decision-ready insights
• Regulator-minded but business-aware You understand how strong model governance enables better decisions rather than slowing them down

What Youll Earn:

The annual salary band of this role is $141900 - $183000. The base pay offered may vary depending on factors such as relevant qualifications skills previous experience and internal equity. As part of our total rewards package employees may also be eligible for our annual incentive program subject to program eligibility requirements

Vancity Talent Programs:

Vancity supports an inclusive hiring process for candidates who self-identify as Indigenous Black or Trans. With special permission from the BC Human Rights Commissioner this initiative provides access to career development opportunities prioritized job screening and feedback. Any information you choose to share will be stored securely and used only for recruitment and career development connected to this initiative in line with the BC Personal Information Protection Act (PIPA). For details please see our dedicated Talent Programs job posting.

This role is an open vacancy and our hiring process is grounded in fairness transparency and inclusion. We are committed to an inclusive barrier-free and accessible recruitment experience for all candidates. If you require any accommodations or support at any stage of the recruitment process (including the application stage) we encourage you to let us know by contacting our Talent Acquisition team at . Were here to work with you to ensure your needs are met promptly and effectively. All requests will be handled with the utmost respect and confidentiality so you can participate fully in the process.

Required Experience:

Director