Risk Governance Model Director Lead
6 days ago
About Us
At EQ Bank | Equitable Bank, we're not a traditional bank. We're innovators who believe Canadians deserve better banking options.
We're big believers in creatively transforming what's possible in banking. Our team is made up of inquisitive and agile minds that find smarter ways to do things.
With over $125 billion in combined assets under management and administration, we have a clear mandate to drive change in Canadian banking to enrich people's lives.
Our customers have named our EQ Bank digital platform (eqbank.ca) one of the top banks in Canada on the Forbes World's Best Banks list since 2021.
Job Description
As a Risk Governance Model Director Lead, you'll support model risk stakeholders in fulfilling their mandates for matters related to all aspects of model risk governance within the Bank.
You'll maintain the Bank's Model Risk Management Framework (MRMF), which may include Model Risk policies, standards, guidelines, procedures, and templates.
You'll be responsible for overseeing end-to-end model lifecycle activities, maintaining a comprehensive, accurate, and evergreen bank-wide model inventory.
You'll produce effective reporting on the status of model risk across the Bank while fostering a culture of model risk management.
You'll act as a trusted advisor to internal stakeholders to ensure compliance with both the Bank's MRMF and regulatory requirements.
You'll also act as a point of liaison with external stakeholders for matters related to model risk governance.
Main Responsibilities
- Maintain and provide strategic input and recommendations on the Model Risk Management Framework (MRMF).
- Keep management apprised of relevant regulations and industry best practices related to model risk governance.
- Support relevant stakeholders in developing and enhancing model risk-related policies, standards, guidelines, and procedures, covering the model life cycle and exceptions.
- Develop and maintain templates for model documentation, model reviews, model risk classification, and rating (which may include the assessment of the inherent and residual model risk).
- Ensure stakeholders develop effective and risk-based model risk controls and processes throughout the model life cycle.
- Design effective model risk dashboards and reports on key risk indicators (KRIs) and key performance indicators (KPIs) to provide insight into model risk and governance status for adequate oversight, monitoring, and response/resolution across the Bank and throughout the model life cycle.
- Support stakeholders in maintaining and enhancing the enterprise-wide model risk management system (MRMS).
- Support the development of the communication strategy to promote the model risk management culture across the Bank.
- Provide training, advice, and guidance on the model risk framework and related tools and templates for consistency and compliance.
- Collaborate with Compliance and Operational Risk management, MRM team, and relevant stakeholders to test and evaluate the effectiveness of model risk controls.
- Support stakeholders in improving the efficacy and efficiency of model governance processes at the Bank.
Requirements
To succeed in this role, you'll need:
- 10+ years of experience in model risk management within financial institutions.
- Excellent knowledge of model risk management principles and practices, regulatory requirements, and industry practices such as evaluation and aggregation methodologies, key risk and performance indicators (KRIs and KPIs), and reporting.
- Thorough understanding of model validation processes and regulatory requirements. Previous experience in model validation is an asset.
- Solid knowledge of related businesses such as funding risk, interest rate risk, liquidity risk, and/or credit risk management processes.
- Proficiency in using MS Office and other reporting tools such as Power BI.
- Advanced project management.
- Excellent time management skills.
What We Offer
- #Medical, dental, vision, life, and disability benefits
- #Generous vacation policy and personal days
- #Virtual events to connect with your fellow colleagues
- #A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience
Salary: $120,000 - $150,000 per year
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