Senior Specialist, Model Validation Expert

4 weeks ago

Halifax, Nova Scotia, Canada Canada Mortgage and Housing Corporation (CMHC) Full time
Job Title:

Senior Specialist, Model Validation

Job Summary:

Canada Mortgage and Housing Corporation (CMHC) is seeking a highly skilled Senior Specialist, Model Validation to join its Model Risk Management division. The successful candidate will be responsible for performing validation of various models, including credit risk, pricing, actuarial, IFRS17, economic capital, stress testing, and machine learning models. The role requires advanced analytical skills and knowledge of Canada's financial and mortgage sectors.

Key Responsibilities:
  1. Validate models to assess their fitness for purpose and performance.
  2. Design and implement statistical tests to assess model sensitivity, robustness, and performance.
  3. Assess model soundness and risk in both approach and usage.
  4. Monitor model performance to ensure ongoing quality and identify opportunities for improvement.
  5. Draft comprehensive validation reports and discuss model issues with stakeholders.
  6. Make sound decisions on complex issues and provide expertise to ensure the Corporation is not at undue risk.
  7. Help improve model validation procedures and model risk governance to reflect industry best practices.
Requirements:
  1. A postgraduate degree in Quantitative Finance, Mathematics, Statistics, Data Science, Actuarial Science, Finance, Economics, or a related field.
  2. A minimum of five years of relevant experience in modelling/validation or quantitative analytics at a bank, insurance company, asset manager, or other financial institution.
  3. Demonstrated experience with actuarial, statistical, and econometric models.
  4. Demonstrated knowledge and experience with various quantitative software, including R, Python, VBA, Databricks, and Clouds.
  5. Knowledge of OSFI capital rules and risk management standards and IAIS capital standards.
  6. Demonstrated experience in writing technical modelling or validation reports.
  7. Ability to persuade, influence, and/or negotiate with colleagues, clients, and senior management.
  8. Ability to research issues, analyze problems, synthesize information, and make recommendations.
Preferred Qualifications:
  1. Professional designation in Actuarial, Chartered Financial Analyst, Professional Risk Manager, Financial Risk Manager, Certificate in Quantitative Finance, or a related field.
  2. Demonstrated experience with mortgage insurance, retail lending, scorecard development, economic capital, and stress testing.
  3. Experience with Machine Learning algorithms and Probabilistic Modelling.
  4. Bilingual (English & French).

About CMHC:

CMHC is a Canadian Crown corporation that provides mortgage loan insurance, securitization, and other housing-related services. We are committed to employment equity and encourage applications from diverse candidates.

Company Info:

Canada Mortgage and Housing Corporation (CMHC)

Hybrid work in Halifax, NS, Canada

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