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Senior Analyst, Model Validation Expert

2 months ago


Toronto, Ontario, Canada Sun Life Financial Inc. Full time
About the Role

We are seeking a highly skilled Senior Analyst, Model Validation Expert to join our Model Validation & Analytics team at Sun Life Financial Inc. This is a critical role that requires a strong understanding of mathematical, statistical, and actuarial models, as well as excellent analytical and communication skills.

Key Responsibilities
  • Conduct independent validations of existing and new models used by Sun Life Financial Inc. in compliance with the Model Risk Policy, standards, and guidelines.
  • Identify potential risks embedded in the model design and usage, develop alternative or benchmark models as necessary for independent assessment of the model and its risk, provide constructive challenges and recommendations to mitigate the model risk in Sun Life Financial Inc.
  • Communicate the model validation results to senior stakeholders and model owners, prepare a Model Validation report that details the validation scope, testing approach, test results, findings, and conclusions.
  • Manage stakeholder relationships to ensure Model Validation findings and recommendations are appropriately informed by business purpose and context; provide advice and guidance to model owners in terms of model validation processes and requirements.
  • Support the Director for the optimal operation of the team, including identifying and implementing improvements to work, processes, and systems to ensure operational effectiveness and compliance with corporate policy and governance requirements.
  • Provide advisory support to large-scale projects such as Economics Scenario Generators (ESG) modeling, economic capital modeling as required and other work streams as appropriate and requested to ensure that company's models are in line with industry best practice.
  • Support a robust model governance on managing, mitigating, and controlling model risk.
Requirements
  • Strong knowledge in a quantitative discipline with minimum 3 years' relevant work experience.
  • A master's degree or higher in a quantitative field such as mathematics, statistics, mathematical finance.
  • Demonstrated expertise with risk measures (value at risk, capital at risk, earning at risk), calibration and simulation of financial variables (stochastic modeling, Monte Carlo simulation), basic derivative valuation theory and statistical analysis.
  • Advanced knowledge on programming in VBA, Python, MATLAB, R or C/C++
  • Ability to work under tight deadlines and with multiple priorities.
  • Critical thinking and ability to provide effective challenge.
  • Ability to work independently and in cross-functional team settings.
  • Strong analytical and problem-solving skills.
  • Excellent communication skills (verbal and written) with ability to explain clearly and concisely complex actuarial and financial concepts.
Preferred Qualifications
  • Prior modeling or validation experience is an asset.
  • Combined financial and insurance risk experience is a definite asset.
What We Offer
  • We're proud to be a Best Workplace for Hybrid Work by Great Place to Work Canada.
  • Recognized in 2023 with the Most Trusted Executive team by Great Place to Work Canada.
  • Be part of our continuous improvement journey in developing the next greatest digital enterprise experience that is united by our Purpose: to help Clients and Employees achieve lifetime financial security and live healthier lives.
  • Flexible Benefits from the day you join to meet the needs of you and your family.
  • Pension, stock and savings programs to help build and enhance your future financial security.