Specialist, Model Risk Oversight NEW

2 weeks ago

Old Toronto, Canada Definity Financial Corporation Full time

The Model Risk Oversight function in Enterprise Risk Management (ERM) provides oversight for the Model Risk Management framework through which the model risks across the organization are identified, measured, managed, monitored, and reported. The scope and depth of model oversight activities across the organization will be significantly increased to meet the requirements of the regulators (i.e., OSFI and FSRA) and the Definity's Model Risk Management Policy (MRMP) standards.

Reporting to the Manager, Model Risk Oversight, the incumbent is responsible for executing the model risk governance and oversight activities across the model lifecycle to ensure the model risk management initiatives comply with regulatory requirements and internal policies/standards/procedures. This position is a unique opportunity to learn how the models are developed and validated and how the model risks are controlled, mitigated, monitored and reported. As a member of Model Risk Oversight team and the Second Line of Defense, this role works closely with our business and control partners to manage the model risk exposure within our stated risk appetite, while allowing the business to achieve its goals. This role will support the management of model risk across the enterprise.

What can you expect in this role?

  • Provide active support to oversee the model risk governance programs through metrics and reporting, resolve outstanding audit and regulatory issues, and respond to ad-hoc management requests. Ensure risk objectives are accomplished within approved timeframes and comply with regulatory requirements, internal policies, and standards, where applicable.
  • Oversee the model inventory system and execute the attestation process to secure the change management procedure. Independent challenge the business to ensure model risks are appropriately evaluated and mitigation plans are progressing as planned.
  • Represent ERM interests, and act as Model Risk Management subject matter expert, in the evaluation of new system or project initiatives. Perform the detailed quantitative and technical review (e.g., model validation, model performance monitoring, target review) as defined in the internal procedures or assigned by the management. Discuss, document, and effectively communicate reviews with the observations, conclusions, and findings to the management and key stakeholders.
  • Develop and maintain positive and effective relationships with the key business stakeholders such that they view the Model Risk Oversight team as a valuable resource in effective risk mitigation.
  • Drive the attestation process for the policy/standards compliance. Support the continued evolution of best practice model risk framework including standards, guidance, process, and templates. Challenge the business to implement MRM best practices and effectively designed controls as relates to model risks. Document and communicate compliance status to the management and key stakeholders.
  • Contribute to design and execute model risk reporting (i.e., KRI) that leverage risk analytics, analyze and interpret the model information on the individual model and collectively from the model inventory system, and provide commentary insights to management and risk partners.

What do you bring to the role?

  • University Degree in quantitative disciplines, e.g., Mathematics, Statistics, Actuarial Science, Data Science, Computer Science, Financial Mathematics/Engineering.
  • Excellent knowledge and understanding of the technical modelling theory and validation testing techniques. A minimum of 5 years of experience in insurance/financial industry and experience in modelling or validation, including pricing/reserving models, capital/CAT/risk models, underwriting/claims/fraud analytics, etc.
  • Industry certification or credentials will be an asset (e.g., FCAS/ACAS, CFA, FRM)
  • Sound understanding of various modelling techniques, including but not limited to various regression models, decision trees, clustering/segmentation, GBM, random forest, and other AI/ML techniques. Comfortable conducting various tests. Proficient computing skills in Python, R, SQL, Excel (VBA), etc.
  • Ability to manage multiple priorities efficiently. Thorough attention to detail. Ability to work independently or in teams. Excellent written and presentation skills to provide advice and explanation to various stakeholders.
#J-18808-Ljbffr

  • Specialist, Model Risk Oversight

    Found in: beBee jobs CA - 1 week ago

    Toronto, Ontario, Canada Definity Financial Full time

    Job DescriptionThe Model Risk Oversight function in Enterprise Risk Management (ERM) provides oversight for the Model Risk Management framework through which the model risks across the organization are identified, measured, managed, monitored, and reported. The scope and depth of model oversight activities across the organization will be significantly...

  • Specialist, Model Risk Oversight

    Found in: beBee S CA - 1 week ago

    Toronto, Canada Definity Financial Full time

    Job DescriptionThe Model Risk Oversight function in Enterprise Risk Management (ERM) provides oversight for the Model Risk Management framework through which the model risks across the organization are identified, measured, managed, monitored, and reported. The scope and depth of model oversight activities across the organization will be significantly...

  • Director, Liquidity and Funding Risk Oversight

    Found in: Talent CA 2 C2 - 1 week ago

    Toronto, Canada BMO Full time

    Application Deadline: 05/13/2024Address:100 King Street WestProvides market risk oversight, monitoring, and reporting for a designated portfolio. Develops and monitors the market risk management framework that includes the governance framework and practices leveraged across BMO to manage market risk. Provides policies and standards, methodologies, and...

  • Catastrophe Modeling Specialist

    2 weeks ago

    Old Toronto, Canada Partner Reinsurance Company Full time

    PartnerRe is a leading, privately owned, multi-line global reinsurer with a reputation of financial stability and strength, and a commitment to rebuilding businesses and communities after risk events around the world.Our mission is to continue to be a financially stable and predictable business partner, supporting our clients with solutions tailored to their...

  • Catastrophe Modeling Specialist

    1 week ago

    Old Toronto, Canada Partner Reinsurance Company Full time

    PartnerRe is a leading, privately owned, multi-line global reinsurer with a reputation of financial stability and strength, and a commitment to rebuilding businesses and communities after risk events around the world.Our mission is to continue to be a financially stable and predictable business partner, supporting our clients with solutions tailored to their...

  • Catastrophe Modeling Specialist

    7 days ago

    Old Toronto, Canada Partner Reinsurance Company Full time

    PartnerRe is a leading, privately owned, multi-line global reinsurer with a reputation of financial stability and strength, and a commitment to rebuilding businesses and communities after risk events around the world.Our mission is to continue to be a financially stable and predictable business partner, supporting our clients with solutions tailored to their...

  • Manager, Liquidity

    Found in: Talent CA 2 C2 - 1 week ago

    Toronto, Canada BMO Full time

    Application Deadline: 05/13/2024Address:100 King Street WestProvides market risk oversight, monitoring, and reporting for a designated portfolio. Develops and monitors the market risk management framework that includes the governance framework and practices leveraged across BMO to manage market risk. Provides policies and standards, methodologies, and...

  • Risk Specialist Sr FCC

    Found in: Talent CA C2 - 1 week ago

    Toronto, Canada Fidelity Investments Full time

    Description About Us: Fidelity Clearing Canada (FCC) is the leading independent clearing broker and custodian in the Canadian market. We provide trade execution, clearing, custody and back-office support services to Canadian-based brokerage firms and registered Portfolio Managers. Role Overview: Reporting to the Manager, Risk Management, the...

  • Manager, Global Oversight Testing

    2 days ago

    Toronto, Canada Royal Bank of Canada Full time

    **Job Summary** To conduct AML oversight testing on central AML functions and global business unit AML controls. This requires proactive participation with oversight scoping, fieldwork, and reporting. Oversight findings to relevant stakeholders as well as escalating issues to senior management, when necessary. Additionally, validate global regulatory issues...

  • Fund Oversight Manager

    Found in: Talent CA C2 - 1 week ago

    Toronto, Canada Fidelity Investments Full time

    Description Who We Are: At Fidelity, we’ve been helping Canadian investors build better financial futures for over 35 years. We offer individuals and institutions a range of trusted investment portfolios and services - and we’re constantly seeking to find new and better ways to help our clients. As a privately owned company, we boldly embrace...

  • Market Risk Specialist

    2 days ago

    Toronto, Canada TD Bank Full time

    **TD Description** Stay current and competitive. Carve out a career for yourself. Grow with us. **Department Overview** The Market Risk Control (MRC) - Counterparty Credit Risk (CCR) group is responsible for: - Oversight of CCR for TDBG - Oversight of XVA Valuation processes for TDBG including TDGUS - Stress-testing activities related to CCR for TDBG -...

  • Manager, Global Oversight Testing

    Found in: beBee jobs CA - 1 week ago

    Toronto, Ontario, Canada Royal Bank of Canada Full time

    Job SummaryTo conduct AML oversight testing on central AML functions and global business unit AML controls. This requires proactive participation with oversight scoping, fieldwork, and reporting. Oversight findings to relevant stakeholders as well as escalating issues to senior management, when necessary. Additionally, validate global regulatory issues and...

  • Model Validation Quantitative Associate- Market Risk

    23 hours ago

    Toronto, Canada MUFG Canada Full time

    **Do you want your voice heard and your actions to count?** Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term...

  • Actuary, Model Governance and Operation Risk Analytics

    Found in: Talent CA C2 - 1 week ago

    Toronto, Canada Reinsurance Group of America Full time

    Position Overview A member of Enterprise Risk Analytics team, the Model Governance and Operational Risk Analytics leader contributes to the implementation of an effective global model risk programs and provide second line oversight to identify, measure, and monitor model risk. This role is also expected to develop and implement MRM framework for...

  • Catastrophe Modeling Specialist

    Found in: beBee jobs CA - 1 week ago

    Toronto, Ontario, Canada PartnerRe Full time

    Company DescriptionPartnerRe is a leading, privately owned, multi-line global reinsurer with a reputation of financial stability and strength, and a commitment to rebuilding businesses and communities after risk events around the world.Our mission is to continue to be a financially stable and predictable business partner, supporting our clients with...

  • Catastrophe Modeling Specialist

    Found in: beBee S CA - 1 week ago

    Toronto, Canada PartnerRe Full time

    Company DescriptionPartnerRe is a leading, privately owned, multi-line global reinsurer with a reputation of financial stability and strength, and a commitment to rebuilding businesses and communities after risk events around the world.Our mission is to continue to be a financially stable and predictable business partner, supporting our clients with...

  • Specialist, Risk Reporting

    7 days ago

    Toronto, Canada TD Bank Full time

    **TD Description** Stay current and competitive. Carve out a career for yourself. Grow with us. **Department Overview** The independent Operational Risk Management (ORM) team works in partnership with the business units and corporate groups of TD Bank Group to further the understanding and management of operational risk across the enterprise. The ORM...

  • Catastrophe Modeling Specialist

    Found in: Jooble CA O C2 - 1 week ago

    Toronto, ON, Canada Partner Reinsurance Company Full time

    PartnerRe is a leading, privately owned, multi-line global reinsurer with a reputation of financial stability and strength, and a commitment to rebuilding businesses and communities after risk events around the world. Our mission is to continue to be a financially stable and predictable business partner, supporting our clients with solutions tailored to...

  • Manager, Aml Oversight

    22 hours ago

    Toronto, Canada PC Financial Full time

    **All referred applicants must first be submitted through Workday by a current Loblaw Colleague.** **Location**: 500 Lakeshore Blvd. West, Toronto, Ontario, M5V 2V9 **When you hire great people, great things can happen.** PC Financial offers unprecedented value to Canadians through payment products. We’re a different kind of bank with a different type...

  • Model Validation Quantitative Associate– Market Risk

    Found in: Talent CA C2 - 1 week ago

    Toronto, Canada MUFG Full time

    Do you want your voice heard and your actions to count? Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), the 7th largest financial group in the world. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term...