Senior Specialist, Model Validation

2 weeks ago


Vancouver, Canada Canada Mortgage and Housing Corporation Full time

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Office Location: Ottawa (ON); Calgary (AB); Halifax (NS); Montreal (QC); Toronto (ON); Vancouver (BC)

Travel Requirement: Limited 

Language Skill Levels (Read/Write/Speak): ZZZ 

Salary: Our salaries generally range from $ 99646.37 to $ 124557.97 and are based on qualifications and experience. 

About CMHC

At CMHC, the work you do and the work we do together matters. We come to work every day with a common purpose: to realize a future where everyone in Canada has a home that they can afford and meets their needs.

Our people are second to none. We lean in with courage, band together as a community and try new things to make a lasting impact on housing from coast to coast to coast.

Join us and be part of a team that's committed to making a real difference and be part of something meaningful.

What’s in it for you

We’ve got the purpose, the people and the perks you need for a fulfilling career. Here’s what you get when you’re a permanent employee:

  • 5 weeks of vacation.
  • Annual individual performance bonus.
  • Comprehensive group insurance plan to support your well-being from day one.
  • Support in your personal and professional growth with training, mentorship and more – because when you thrive, we thrive.
  • An inclusive workplace culture and environment with Employee Resource Groups and more.
  • A hybrid work model that lets you balance working from home and nurturing in-person connections by coming into your region’s office at a minimum of 4 times a month.

About the role
Join the Business and Operational Risk Team, in the Senior Specialist, Model Validation position. In this role, you will apply your advanced analytical skills and knowledge of Canada’s financial and mortgage sectors to modelling initiatives at CMHC, including model development, model validation and the interpretation of model results with the ultimate purposes of informing decision making, enhancing risk management and building automated systems.

What you’ll do:

  • Validate and develop quantitative models to inform business decisions and analysis; models are used for purposes such as underwriting, pricing, stress testing, capital adequacy assessment, business analytics including financial projections, and automated systems and tools.
  • Maintain models throughout their life cycle in accordance with CMHC's model risk policy and industry best practice.
  • Manage model development or validation projects by leading or coordinating multi-disciplinary teams whose members may include model users, internal modelling experts, external modelling experts and other stakeholders.
  • Maintain and apply expert knowledge of best practices and recent advances in quantitative methods and analytical techniques.
  • Apply modelling expertise and business knowledge to analyze current issues.
  • Monitor operating environments to ensure models and analytics properly reflect current market. 
  • Ensure that model users and other stakeholders understand the models and their limitations.

What you should have: 

  • A master’s degree or higher in a quantitative discipline such as finance, mathematics, economics, statistics or actuarial sciences. 
  • A minimum of five years of experience in modelling or quantitative analytics at a bank, insurance company, asset manager or other type of financial institution.
  • A good understanding of Canada's financial sector and real estate markets.
  • The ability to work in a sophisticated technological environment utilizing various modelling and programming tools.
  • A creative analytical ability.
  • Good writing and presentation skills.
  • A demonstrated ability to conduct rigorous analysis using critical thinking and judgment to resolve complex issues.

It would be great if you also had: 

  • A professional designation (Actuarial, Chartered Financial Analyst, Professional Risk Manager, Financial Risk Manager, Certificate in Quantitative Finance).

Posting closing date: Note, the competition will remain active until filled.

Our commitment to diversity, equity, and inclusion

We’re committed to employment equity and encourage women, Indigenous Peoples, persons with disabilities, veterans and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions to apply. We also welcome applications from non-Canadians who are eligible to work in Canada.

CMHC is an inclusive workplace where diversity of thought – and of people – are recognized, valued, and considered essential to achieving our mission.

We know that applying for a new job can be both exciting and daunting, and we appreciate your effort. Learn more about our hiring process . If you are selected for an interview or testing, please advise us if you require an accommodation.

If you applied before and you were not successful don’t worry – we're always posting new positions, so don’t hesitate to give it another shot. We’re excited to see what you bring to the table this time around

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