Specialist, Model Risk Oversight NEW
4 weeks ago
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.
-
Specialist, Model Risk Oversight New
3 days ago
Waterloo, Canada Definity Financial Corporation Full timeJob ID : 7382 Category : Corporate Actuarial & Risk Brand : Definity Regular/Temporary : Regular Fulltime/Parttime : Full Time Location : Waterloo, Canada Posting Range : $69,800 - $140,400 Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family...
-
Specialist, Model Risk Oversight NEW
4 weeks ago
Waterloo, ON, Canada Definity Financial Corporation Full timeThe 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...
-
Specialist, Model Risk Oversight
3 weeks ago
Waterloo, Canada Definity Full timeJob Description 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...
-
Excel Model Specialist
4 weeks ago
Waterloo, ON, Canada Definity Financial Corporation Full timeThe 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...
-
Director, Wealth Oversight Programs
7 days ago
Waterloo, Canada Sun Life Full timeYou are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll...
-
Waterloo, Canada Definity Financial Corporation Full timeJob ID : 7372 Category : Corporate Actuarial & Risk Brand : Definity Regular/Temporary : Regular Fulltime/Parttime : Full Time Location : Waterloo, Canada Posting Range : $77,700 - $157,000 Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family...
-
Director, Product and Underwriting NEW
2 days ago
Waterloo, Canada Definity Financial Corporation Full timeReporting to the AVP, Product and Underwriting, the Director, Corporate Underwriting (Auto & Property) is responsible for leading the technical aspects of Personal Insurance Product and Underwriting area for both automobile and property lines of business. The Director is accountable for developing and building out the foundations for underwriting decisions...
-
Director, Third Party Risk Management
4 weeks ago
Waterloo, Canada Sun Life Full timeYou are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll...
-
Manager, Operational Risk
7 days ago
Waterloo, Canada Sun Life Full timeJob Description : PLEASE NOTE: This is a Hybrid environment contract role ending in December 2025. The Risk Management Centre of Excellence (Risk CoE) is a strategic first line of defence business partner supporting Sun Life Canada Leadership in meeting our Client for Life goals by providing comprehensive understanding of operational risk and...
-
Chief risk officer, group benefits insurance
4 weeks ago
Waterloo, Canada Société Financière Manuvie Full timeNous sommes un fournisseur de services financiers qui s’emploie à faciliter les décisions de nos clients et de nos collègues partout dans le monde et à les aider à vivre mieux. De nos initiatives environnementales à nos investissements dans la collectivité, nous montrons la voie en nous appuyant sur des valeurs, et ce, dans l’ensemble de nos...
-
Chief risk officer, group benefits insurance
4 weeks ago
Waterloo, Canada Société Financière Manuvie Full timeNous sommes un fournisseur de services financiers qui s’emploie à faciliter les décisions de nos clients et de nos collègues partout dans le monde et à les aider à vivre mieux. De nos initiatives environnementales à nos investissements dans la collectivité, nous montrons la voie en nous appuyant sur des valeurs, et ce, dans l’ensemble de nos...
-
Chief risk officer, group benefits insurance
4 weeks ago
Waterloo, Canada Société Financière Manuvie Full timeNous sommes un fournisseur de services financiers qui s’emploie à faciliter les décisions de nos clients et de nos collègues partout dans le monde et à les aider à vivre mieux. De nos initiatives environnementales à nos investissements dans la collectivité, nous montrons la voie en nous appuyant sur des valeurs, et ce, dans l’ensemble de nos...
-
Waterloo, Canada Definity Financial Corporation Full timeJob ID : 7179 Category : Corporate Actuarial & Risk Brand : Definity Regular/Temporary : Regular Fulltime/Parttime : Full Time Location : Waterloo, Canada Posting Range : $59,400 - $118,100 Definity is the parent company to some of Canada’s most long-standing and innovative insurance brands, including Economical Insurance, Sonnet Insurance, Family...
-
Senior Risk Control Management Specialist
5 days ago
Waterloo, ON, Canada Sun Life Financial Full timeManager, Risk Program Development page is loaded Manager, Risk Program Development Apply locations Waterloo, Ontario Sun Life Toronto One York time type Full time posted on Posted 2 Days Ago job requisition id JR00096674 You are as unique as your background, experience and point of view. You'll work with dynamic colleagues - experts in their fields - who...
-
Services Support Specialist
1 week ago
Waterloo, Canada University of Waterloo Full timeOverview: **Term: 2 years** The Services Support Specialist reports to the Services Manager and supports the overall success of all student-run services. The role provides direct supervision of 4-6 student-run services as assigned by the Services Manager. These services are used and accessed by thousands of undergraduate students each term. The Specialist...
-
Chief risk officer, group benefits insurance
4 weeks ago
Waterloo, ON, Canada Société Financière Manuvie Full timeNous sommes un fournisseur de services financiers qui s’emploie à faciliter les décisions de nos clients et de nos collègues partout dans le monde et à les aider à vivre mieux. De nos initiatives environnementales à nos investissements dans la collectivité, nous montrons la voie en nous appuyant sur des valeurs, et ce, dans l’ensemble de nos...
-
Remote Risk Manager
5 days ago
Waterloo, ON, Canada Sun Life Financial Full timeManager, Operational Risk page is loaded Manager, Operational Risk Apply locations Waterloo, Ontario Sun Life Toronto One York time type Full time posted on Posted Yesterday job requisition id JR00096673 You are as unique as your background, experience and point of view. You'll work with dynamic colleagues - experts in their fields - who are eager to...
-
Communications Specialist
4 weeks ago
Waterloo, Canada University of Waterloo Full timeOverview: The Communications Specialist is responsible for the coordination and execution of WUSA’s digital media efforts and support with other organizational communications. Specifically, they actively create original web and social media content in order to create awareness of the organization and its efforts, while increasing student engagement to help...
-
Avp, Security Governance and Risk Management
4 weeks ago
Waterloo, Canada Sun Life Full timeYou are as unique as your background, experience and point of view. Here, you’ll be encouraged, empowered and challenged to be your best self. You'll work with dynamic colleagues - experts in their fields - who are eager to share their knowledge with you. Your leaders will inspire and help you reach your potential and soar to new heights. Every day, you'll...
-
Chief risk officer, group benefits insurance
4 weeks ago
Waterloo, ON, Canada Société Financière Manuvie Full timeNous sommes un fournisseur de services financiers qui s’emploie à faciliter les décisions de nos clients et de nos collègues partout dans le monde et à les aider à vivre mieux. De nos initiatives environnementales à nos investissements dans la collectivité, nous montrons la voie en nous appuyant sur des valeurs, et ce, dans l’ensemble de nos...
