Senior Model Risk Manager

2 days ago


Old Toronto, Ontario, Canada HomeEquity Bank Full time
Job Title: Senior Model Risk Manager

HomeEquity Bank is seeking a highly skilled Senior Model Risk Manager to join our team. As a key member of our risk management department, you will be responsible for managing the bank's model risk across business lines.

Key Responsibilities:
  • Manage model risk throughout the model lifecycle, including validation, ongoing performance evaluation, and periodic model reviews.
  • Design and execute quantitative testing, analyze conceptual soundness, and assess model suitability for model validation projects.
  • Work effectively with model owners to understand models, convey second-line expectations, and professionally challenge model elements.
  • Use industry and academic expertise to assess model assumptions, mathematical formulation, and implementation, considering each model's business purpose.
  • Research model performance benchmarks and build challenger models from scratch as appropriate.
  • Document and present findings to executive model owners, clearly communicating key model limitations and recommending compensating controls.
  • Conduct ongoing self-study of developments in modeling and validation techniques, regulatory guidelines, and new analytical tools.
  • Support the continued evolution of an industry-best-practice model risk framework, including validation process standards, guidance, practices, and templates.
Requirements:
  • Graduate degree in Quantitative Finance, Economics, Data Science, or related field.
  • FRM or CFA designation.
  • 8+ years of experience in model development, model validation, or quant-focused risk management at a financial institution.
  • Experience with credit risk, interest rate risk, loss forecasting, stress testing, actuarial, and liquidity risk models.
  • Advanced Python and SQL skills, including data processing, automation, statistical packages, and data visualization.
What We Offer:
  • A competitive total rewards package, including extended health and dental benefits, employee & family assistance program, employer-matched group retirement savings plan, employee share investment plan, and well-being initiatives.
  • A hybrid working environment with a culture of flexibility, recognizing and celebrating performance, community service, teamwork, and diversity among employees.
  • Professional growth opportunities and on-the-job training, as well as a series of career-developing programs, including an Educational Assistance Program.


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