Job Description

Department / Branch:

Risk Management Department

Reports To

: Director, Model Risk Management

Employment Type

: Full-Time Permanent / Contract

Location:

Toronto Downtown Office

Responsibilities:

Model Review & Testing:

Conduct independent validation of models, including AML risk, climate risk, credit risk, market risk, liquidity risk and forecasting models; Review conceptual soundness, theoretical foundations, data inputs, assumptions, and methodology; Perform backtesting, benchmarking, and sensitivity analyses to assess model performance and stability.

Compliance & Governance:

Ensure models comply with internal governance policies, OSFI/Basel regulatory standards, and other applicable frameworks; Document validation processes, methodologies, and findings in comprehensive validation reports; Track remediation of validation issues and follow up with model owners.

Stakeholder Engagement:

Collaborate with model developers, risk managers, and business units to communicate findings and ensure issues are addressed; Present risk assessment and validation results to senior management and committees, highlighting risks and recommendations.

Continuous Improvement:

Stay updated on emerging model risk management trends, regulatory expectations, and AI/ML validation practices; Recommend enhancements to model validation methodologies, tools, and frameworks.

Qualifications:

Master's degree or PhD in Quantitative Finance, Mathematics, Statistics, Computer Science, Engineering or related field; 2-5 years of experience in model validation, quantitative analytics, or risk management; Previous experience in AML and climate risk models are preferred; Strong proficiency in statistical modeling, econometrics, and / or machine learning; Programming skills in Python, R, SAS; Familiarity with SQL and database management; Understanding of financial risk models (AML, climate risk, stress testing, IRRBB, etc.) and / or ML model lifecycle; Familiarity with regulatory guidance (Basel III / IV, OSFI E-23, SR 11-7, etc.); Strong analytical, communication, and report-writing skills; Ability to work independently and handle multiple projects simultaneously.
Job Types: Full-time, Permanent, Fixed term contract

Benefits:

Company pension Dental care Disability insurance Employee assistance program Extended health care Life insurance Paid time off Tuition reimbursement Vision care
Education:

Master's Degree (preferred)
Experience:

Model Validation, Quantitative Analytics or Risk Management: 2 years (preferred)
Work Location: In person