Model Risk Manager
3 weeks ago
WHO WE ARE
HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage product.
Our Values, Our Passion
At HomeEquity Bank, our values drive and inspire our actions with our customers, our partners and each other.
Customer-Focused. Passionate Advocates
Courage to Act. Do the Right Thing
One Team. One Vision
Think Long-Term. Ever-Evolving
Be Exceptional. Inspire Greatness
This role works closely with our business partners as the second line of defense to manage the Bank's 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.
MAJOR ELEMENTS OF THE ROLE
**Key accountabilities of this position include**:
- Manage model risk across the model lifecycle including validation, ongoing performance evaluation and periodic model reviews.
- Perform detailed model validations, design and execute appropriate quantitative testing, analyze conceptual soundness and assess model suitability.
- Provide effective challenge to model assumptions, mathematical formulation, and implementation.
- Develop alternative model benchmarks and challenger models as appropriate.
- Document and present findings to executive model owners, identifying key model limitations, and recommending compensating controls.
- Conduct self-study of developments in modeling and validation techniques, regulatory guidelines, and new analytical tools.
- Supporting the continued evolution of best practice model risk framework including validation process standards, guidance, practices, and templates.
SKILLS AND EXPERIENCE REQUIRED
**Qualifications**:
- Graduate degree in Finance, Economics, Data Science, or related field.
- FRM (ideal), CFA or equivalent knowledge of financial markets and products gained through experience.
- 5+ years experience in model development, model validation or quant-focused risk management at a financial institution.
- Experience with multiple of the following model types: Credit Risk, Finance, Loss Forecasting, Stress Testing, Actuarial, Liquidity, Market Risk.
Attributes
- Good analytic, creative thinking, and problem-solving abilities.
- Effective and professional stakeholder management.
- Track record of attention to detail with experience producing technical documentation self-policed for data issues, coding errors and overall accuracy.
Working Conditions Unique to Job
- Standard office environment
WHY WORK AT HOMEEQUITY BANK?
Great Environment
HomeEquity Bank offers a hybrid working environment supported with a culture of flexibility - an approach that is unique to each person, and that enables both business and individual needs to be met in a mutually beneficial way.
We pride ourselves in recognizing and celebrating performance, community service, teamwork, and diversity among our employees.
A Dynamic Culture - With People at the Centre
We believe our people make all the difference; our tireless commitment to inclusivity, professional development, and employee experience has been recognized through awards including the Greater Toronto’s Top Employers 2024,Waterstone Canada's Most Admired Corporate Cultures 2022-2023, the Globe and Mail's Report on Business: Canada's Top Growing Companies 2022 (third year since 2019), Canadian's Mortgage Professional (CMP) Top Mortgage Employer 2023 for the third year in a row and Achievers Top 50 Most Engaged Workplaces 2023.
Growth and Opportunities
We provide challenging and rewarding careers in a wide variety of fields. We continuously develop and train our employees through professional growth opportunities and on-the-job training. We also encourage our employees to develop professionally and personally though a series of career developing programs including our Educational Assistance Program, designed to reimburse costs related to professional learning and development.
Celebrating Great Work and People
We believe in an environment that celebrates success, knowledge, leadership, and work that is inspired by our core values. For these reasons, we have created several programs that make it easy for our employees to say ‘great job’ to their colleagues and leaders.
From our Appreciate Program to the High Five Award Program and President’s Award Program, we recognize professional achievement with a variety of rewards including points towards gift cards, merchandise, and travel experiences, as well as group RRSP/DPSP contributions and more.
Our Community Leadership Program recognizes employees who make a positive impact in their communities through volunteer work with a grant for their charity of choice. A
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