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Manager, Model Validation
Scotiabank | Toronto, Iowa
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Job Description

Requisition ID: 2934


Join the Global Community of Scotiabankers to help customers become better off.


Purpose of Job

The Model Validation & Approval area provides independent and consistent model validation and approval across various risk types, including market risk, credit risk, operational risk, treasury, capital models and other key risk/financial models. 

The Manager will provide support to the Senior Manager by providing subject matter expertise in model validation on various types of models as well as be independently executing actual model validation work.


Key Accountabilities

• Support director/senior manager in the development of the work plan.
• Deliver validation assignments according to work plan.
• Undertake research and development of new validation techniques
• Provide subject matter advisory support to other work streams as needed
• Manage relationship with key contacts as identified for each validation request submission 
• Comply with internal policies, procedures and regulatory requirements where applicable
• Provide support to resolve outstanding audit and regulatory issues and to respond to ad hoc senior management and regulatory requests
• Provide support to large-scale projects as required
• Keep abreast of industry and regulatory developments and evolving expectations; develop relationships with counterparts at other financial institutions; provide ongoing peer benchmarking support


Skills, Experiences & Functional Competencies

• Strong knowledge in statistics/probability/applied math. Proficiency in at least one of the statistical/numerical packages (SAS/MATLAB/R).
• Ability to effectively utilize relational databases for data analysis, write complex SQL queries is an asset. 
• Knowledge of data extraction and manipulation techniques is an asset.
• General knowledge across various risk / model types, including market risk, credit risk, operational risk; propensity to develop subject matter expertise in other and/or new risk / model types.
• Effective project and time management in order to efficiently deliver concurrent projects with competing priorities in good quality.
• Be able to be independently deliver work assignments efficiently.
• Constructive conflict management ability; ability to collaborate effectively with model owner/sponsor counterparts as well as internal audit and regulators.
• Effective presentation and strong spoken and written communication skill is essential.


Education & Other Requirements

 • Advanced degree in Statistics, Actuarial Science, Econometrics, Mathematical Economics, Financial Mathematics / Quantitative Finance (Master and above, Ph.D. preferred), in combination with business education.
• Industry certification or credentials will be asset (e.g. MBA, CFA, FRM)


Location(s):  Toronto


As Canada’s International Bank, we are a leader when it comes to inclusion. We are a diverse and global team, speaking more than 100 languages with backgrounds from more than 120 countries. 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. Candidates selected for an interview will be contacted directly.  If you require accommodation during the recruitment and selection process, please let us know. We will work with you to provide as seamless a recruitment experience as possible.

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