Specialist, Model Risk Oversight New

6 months ago

Mississauga, Canada Definity Financial Corporation Full time

Job ID : 7382
Category : Corporate Actuarial & Risk
Brand : Definity
Regular/Temporary : Regular
Fulltime/Parttime : Full Time
Location : Mississauga, 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

  • Financial and Model Risk Manager

    5 months ago

    Mississauga, Canada Questrade Financial Group Full time

    Questrade Financial Group (QFG) of Companies is committed to helping our customers become much more financially successful and secure. We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing the future of fintech into existence. You will be a part of a collaborative team that cares deeply about...

  • Financial and Model Risk Manager

    6 months ago

    Mississauga, Canada Questrade Financial Group Full time

    Questrade Financial Group (QFG) of Companies is committed to helping our customers become much more financially successful and secure. We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing the future of fintech into existence. You will be a part of a collaborative team that cares deeply about...

  • Financial and Model Risk Manager

    6 months ago

    Mississauga, Canada Questrade Financial Group Full time

    Questrade Financial Group (QFG) of Companies is committed to helping our customers become much more financially successful and secure. We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing the future of fintech into existence. You will be a part of a collaborative team that cares deeply about...

  • Manager, IT Risk

    7 months ago

    Mississauga, Canada Questrade Financial Group Full time

    Questrade Financial Group (QFG) of Companies is committed to helping our customers become much more financially successful and secure. We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing the future of fintech into existence. You will be a part of a collaborative team that cares deeply about...

  • Risk Management Specialist

    1 month ago

    Mississauga, Ontario, Canada Roche Full time

    About the RoleWe are seeking a highly skilled Risk Management Specialist to join our team at Roche. As a Risk Management Specialist, you will play a key role in developing and operationalizing an integrated Quality Risk Management Plan (iQRMP) and associated risk mitigation and control strategies.You will be responsible for conducting systematic data...

  • Risk Model Developer

    1 month ago

    Mississauga, Ontario, Canada Citibank Full time

    Risk Model Development OpportunityCiti's Risk Analytics Products team is seeking a skilled Risk Model Developer to join our team. As a Risk Model Developer, you will be responsible for implementing risk models using sound numerical and computational techniques. You will work closely with business risk managers, clients, and other partners to present the...

  • Risk Model Developer

    1 month ago

    Mississauga, Ontario, Canada Citibank Full time

    Risk Analytics ProductsWe are a team of professionals with backgrounds in Physics, Engineering, and Computer Science, working on risk models to ensure that Citi's lending portfolios have adequate capital during crisis. Our systems are responsible for calculating risk on some of the largest portfolios in the industry.You will build skills in building products...

  • Senior Manager, IT Risk

    5 months ago

    Mississauga, Canada Community Trust Full time

    Senior Manager, IT Risk & Governance Oversight Mississauga, ON, Canada Req #2634 Friday, June 7, 2024 Questrade Financial Group (QFG) of Companies is committed to helping our customers become much more financially successful and secure. We are everything a traditional financial institution is not. At QFG, you will be constantly moving forward, bringing...

  • Risk Management Specialist

    1 week ago

    Mississauga, Ontario, Canada goeasy Full time

    Overview of the RoleWe are seeking a highly skilled Risk Management Specialist to join our team at goeasy Ltd. in Mississauga, Ontario.About the Companygoeasy Ltd. is one of Canada's leading non-prime consumer lenders, providing a range of financial products and services to everyday Canadians.Job DescriptionThe Risk Management Specialist will provide...

  • IT Risk Governance Oversight Manager

    3 weeks ago

    Mississauga, Ontario, Canada Community Trust Full time

    Role OverviewCommunity Trust Company is seeking a skilled IT Risk Governance Oversight Manager to join their team. The successful candidate will play a key role in monitoring the management of IT and Cyber related risks.Key ResponsibilitiesDevelop and maintain IT and cyber risk management policies, procedures, and guidelines to ensure compliance with...

  • Financial Risk Modeling Expert

    2 weeks ago

    Mississauga, Ontario, Canada goeasy Full time

    Go easy on your finances with a career at goeasy, one of Canada's fastest-growing companies.As a leader in non-prime consumer lending, we're committed to providing everyday Canadians with a path to a better tomorrow, today. Our vision is to make financial freedom accessible to everyone, and we're seeking a skilled Risk Analyst to join our team.In this role,...

  • IT Risk Governance Oversight Manager

    4 weeks ago

    Mississauga, Ontario, Canada Community Trust Full time

    Job SummaryWe are seeking a highly skilled IT Risk Governance Oversight Manager to join our team at Community Trust Company. As a key member of our Risk Management team, you will play a critical role in monitoring the management of IT and Cyber related risks.Key ResponsibilitiesDevelop and maintain IT and cyber risk management policies, procedures, and...

  • Risk Management Specialist

    7 months ago

    Mississauga, Canada Snaplii Full time

    Salary: **About Snaplii** Snaplii is a leading Digital Wallet platform that has redefined the way Users and Merchants engage for more efficient communication. Our platform offers value-added features, including secure credit card payments, a curated list of favorite merchants, cash-back card options, data-driven marketing solutions, and a thriving gift card...

  • Risk Management Specialist

    7 months ago

    Mississauga, Canada Snaplii Full time

    **About Snaplii** Snaplii is a leading Digital Wallet platform that has redefined the way Users and Merchants engage for more efficient communication. Our platform offers value-added features, including secure credit card payments, a curated list of favorite merchants, cash-back card options, data-driven marketing solutions, and a thriving gift card...

  • AVP, Software Engineer

    4 weeks ago

    Mississauga, Ontario, Canada Citi Full time

    Job SummaryCiti is seeking a highly skilled AVP, Software Engineer to join our Risk Management team. As a Quantitative Risk Modeler, you will be responsible for designing and implementing a framework for model-driven computations on a graph.Key ResponsibilitiesDesign and implement a framework for model-driven computations on a graphDesign and build...

  • Director, Modelling, Credit Risk Analytics

    2 months ago

    Mississauga, Canada Cash 4 You Corp. Full time

    **Director of Modeling, Credit Risk Analytics - Cambridge Headquarters** **Location**: Cambridge, ON **Status**: In-Office (**Ability to commute/relocate to Cambridge is required**) **Who We Are Looking For**: We’re on the hunt for a forward-thinking **Director of Modeling** to spearhead our credit risk analytics department. This isn’t your typical...

  • Director, Modelling, Credit Risk Analytics

    6 months ago

    Mississauga, Canada Cash 4 You Corp. Full time

    **Director of Modeling, Credit Risk Analytics - Cambridge Headquarters** **Location**: Cambridge, ON **Status**: In-Office (Ability to commute/relocate to Cambridge is required) **Who We Are Looking For**: We’re on the hunt for a forward-thinking **Director of Modeling** to spearhead our credit risk analytics department. This isn’t your typical...

  • Audit Risk Specialist

    2 days ago

    Mississauga, Ontario, Canada 00416 Citibank Canada Full time

    Are you a detail-oriented professional looking for a challenging role in audit and risk management? We are seeking an Audit Risk Specialist to join our team at Citibank Canada. This is an exciting opportunity to work with a global financial institution and contribute to the development of new techniques and processes in audit and risk.

  • Risk Management Analyst, Capital and Insurance Modelling

    1 week ago

    Mississauga, Ontario, Canada RBC Insurance Services Inc. Full time

    Role OverviewWe are seeking a skilled Risk Management Analyst to join our team at RBC Insurance Services Inc.About the OpportunityThis role involves delivering Economic Capital reporting for RBC Insurance, including various supporting components. You will also be responsible for building new Capital models, improving capital modeling methodologies, and...

  • Quality and Risk Specialist

    5 months ago

    Mississauga, Canada Home and Community Care Support Services Full time

    _**CARE AND BE CARED FOR - THIS IS YOUR HOME**_ **Do you have Quality and Risk Management experience and enjoy the challenge of supporting organizational quality, safety and risk management? Do you have strong analytical and problem solving skills with a spirit of continuous improvement?** **Are you passionate about exceptional health care and driven by a...