Specialist, Model Risk Oversight New

6 months ago

Toronto, Canada Definity Financial Corporation Full time

Job ID : 7382
Category : Corporate Actuarial & Risk
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Toronto, 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 Insurance Solutions, and Petline Insurance. Our ambition is to be one of Canada’s leading and most innovative property and casualty insurers. We can’t do that without our people, so we embrace and encourage a culture that’s collaborative, ambitious, rewarding, and empowering.

We offer a flexible, hybrid work experience where employees work from the office and virtually depending on the type of work they are doing and who they are working with. Bring your true self and be a part of our journey. It’s better here.

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.
- 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.

**What's in it for you?**
- Hybrid work schedule for most roles
- Company share ownership program
- Pension and savings programs, with company-matched RRSP contributions
- Paid volunteer days and

  • Investment Risk Specialist

    4 weeks ago

    Toronto, Ontario, Canada CPP Investments Full time

    Job DescriptionAt CPP Investments, we are seeking a highly skilled Investment Risk Specialist to join our Total Fund Oversight team. In this role, you will be responsible for providing portfolio insights and risk oversight of Total Portfolio investment activities.As a key member of our team, you will use your skills and knowledge to help shape the growing...

  • Risk Oversight Specialist for Private Assets

    3 weeks ago

    Toronto, Ontario, Canada CPP Investments Full time

    About CPP InvestmentsAt CPP Investments, we're a professional investment management organization that globally invests the funds of the Canada Pension Plan (CPP) to help ensure long-term sustainability.Our organization has grown significantly in recent years and is now one of the most respected and fastest-growing institutional investors in the world. We...

  • Advanced Modeling Risk Specialist

    3 weeks ago

    Old Toronto, Canada TD Bank Full time

    The role of Advanced Modeling Risk Specialist is available at TD Bank, a leading global financial institution. This position plays a critical part in ensuring that our models are developed and implemented in compliance with regulatory requirements.About the JobAs an Advanced Modeling Risk Specialist, you will be responsible for conducting research on how to...

  • Manager, Reliance Oversight Model

    3 months ago

    Toronto, Canada Royal Bank of Canada Full time

    **Job Summary** Oversees day-to-day operations of the corporation's comprehensive compliance function and ensures consistency in approach to and compliance with internal business process rules and external regulations. Manager with HR responsibility. Typically manages and oversees supervisors and/or hourly/professional jobs and responsible for setting the...

  • Market Risk Oversight Manager

    1 week ago

    Toronto, Canada CWB Financial Group Full time

    At CWB , we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by: - Putting people first and building relationships with intention- Seeking out and embracing new ideas- Believing that how we do things is as important as what we do Roles Specifications Location | Toronto, ON. Edmonton,...

  • Senior Risk Modeling Lead

    7 days ago

    Old Toronto, Canada OMERS Oxford Properties Group Full time

    Are you a seasoned risk management professional looking for a new challenge? We are seeking a highly skilled Director of Risk Modeling to join our team at OMERS / Oxford Properties Group.The ideal candidate will have a deep understanding of risk modeling techniques, a proven track record of navigating complex financial instruments, and the ability to...

  • Associate Director, Security Risk Oversight

    6 months ago

    Toronto, Canada Royal Bank of Canada Full time

    **Job Summary** Reporting to the Director, Security Risk Oversight, the Associate Director is responsible for supporting oversight and advisory activities for security risk management enterprise wide. This involves supporting the 2nd Line of Defense governance model, by providing independent challenge to ensure that the Security Risk profile is fairly...

  • Market Risk Oversight Manager

    1 week ago

    Toronto, Canada Disability Solutions Full time

    At CWB, we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by:Putting people first and building relationships with intentionSeeking out and embracing new ideasBelieving that how we do things is as important as what we doRoles SpecificationsLocation | Toronto, ON. Edmonton, AB10-month Term...

  • Risk Modeling Director

    1 month ago

    Toronto, Ontario, Canada OMERS Full time

    Empower Your Impact with OMERSAt OMERS, we're committed to creating a workplace where employees thrive. We're a purpose-driven, dynamic, and sustainable pension plan that embodies the values of our 600,000+ members. Our goal is to support the achievement of OMERS business objectives by overseeing the actions undertaken by Management to address key...

  • Portfolio Risk Oversight Specialist, Total Fund

    4 weeks ago

    Toronto, Ontario, Canada CPP Investments Full time

    Company OverviewCPP Investments is a professional investment management organization that globally invests the funds of the Canada Pension Plan (CPP) to help ensure long-term sustainability.We are one of the most respected and fastest growing institutional investors in the world with current assets under management valued in excess of $500 billion. Our team...

  • Market Risk Oversight Expert

    7 days ago

    Toronto, Ontario, Canada Disability Solutions Full time

    About the OpportunityCWB Financial Group is currently seeking a seasoned Market Risk Oversight Expert to join our esteemed Risk Services team. As an expert in interest rate risk, you will play a pivotal role in supporting the AVP, Market Risk, by conducting second-line oversight of market risk in the banking book and maintaining CWB's interest rate risk...

  • Manager, Liquidity

    6 months ago

    Toronto, Canada BMO Financial Group Full time

    100 King Street West Toronto Ontario,M5X 1A1 Provides 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 controls to increase...

  • Manager, Enterprise Model Risk Management

    1 week ago

    Toronto, Canada RBC Full time

    Job Summary Job Description WHAT IS THE OPPORTUNITY? Join RBCs Enterprise Model Risk Management (EMRM) team as a manager. This role offers you the chance to ensure oversight of model risk, ensuring the integrity and efficacy of various quantitative models used in the bank. Youll play a critical role in safeguarding the company against regulatory,...

  • Strategic Risk Management Leader

    6 hours ago

    Old Toronto, Canada Risk & Insurance Management Society Inc Full time

    OverviewFiera Capital is seeking a highly skilled and experienced Director of Investment Risk to join its team. Reporting to the Global Chief Compliance and Investment Risk Officer, the successful candidate will play a critical role in enhancing and executing a robust quantitative and qualitative focused investment risk framework.About the RoleThe Director...

  • Manager, Enterprise Model Risk Management

    1 week ago

    Toronto, Canada RBC Full time

    Job SummaryJob Description WHAT IS THE OPPORTUNITY?Join RBCs Enterprise Model Risk Management (EMRM) team as a manager. This role offers you the chance to ensure oversight of model risk, ensuring the integrity and efficacy of various quantitative models used in the bank. Youll play a critical role in safeguarding the company against regulatory, financial,...

  • Risk Oversight Expert, Capital Markets

    3 weeks ago

    Toronto, Ontario, Canada CMHC - SCHL Full time

    Company OverviewAt CMHC, we are committed to contributing to a well-functioning housing system. Our team thrives on collaboration and connects across departments to get the job done. We prioritize results and support our colleagues in their achievements.SalaryOur estimated annual salary range for this role is $99646.37 - $124557.97, based on qualifications...

  • Manager - Fraud Risk Oversight

    6 months ago

    Toronto, Canada Sun Life Full time

    You 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 Model Risk Officer, Toronto

    3 days ago

    Toronto, Ontario, Canada RBC Full time

    About the RoleAre you a seasoned risk management professional looking for a new challenge? We are seeking an experienced Chief Model Risk Officer to join our team in Toronto.This is an exciting opportunity to oversee model risk management across the organization, ensuring that our quantitative models are accurate, reliable, and compliant with regulatory...

  • Associate Director, Enterprise Model Risk Management

    1 week ago

    Toronto, Canada RBC Full time

    Job Summary Job Description WHAT IS THE OPPORTUNITY? Join RBCs Enterprise Model Risk Management (EMRM) team as an associate director. This role offers you the chance to ensure oversight of model risk, ensuring the integrity and efficacy of various quantitative models used in the bank. Youll play a critical role in safeguarding the company against...

  • Risk Management Specialist

    4 weeks ago

    Toronto, Ontario, Canada CPP Investments Full time

    Job Summary CPP Investments is seeking a skilled Risk Management Specialist to join our Total Fund Oversight team. This role involves providing portfolio insights and risk oversight of Total Portfolio investment activities. The ideal candidate will have strong investment acumen, analytical abilities, and excellent communication skills.About the Role In this...