Model Risk Validation Lead
24 hours ago
Overview
We are seeking a highly skilled Model Risk Validation Lead to join our team in Toronto, Ontario. As a key member of the Global Wealth Management Segment, you will play a crucial role in validating models and ensuring their effectiveness.
Job Summary
The Manager, Model Risk Management will be responsible for assessing the adequacy and appropriateness of models, ensuring they are mathematically sound, and performing adequately. You will also evaluate potential model risks, recommend risk mitigation measures, and document validation outcomes.
About You
We are looking for a seasoned professional with a Master's or PhD degree in a quantitative discipline, preferably in finance, economics, or physics. Your experience should include financial mathematics modeling, stochastic techniques, and derivative pricing. You should have strong analytical, problem-solving, communication, and documentation skills.
Responsibilities
- Assess the model's adequacy and appropriateness for stated objectives and assumptions, general practice, and company policies.
- Ensure submitted models are mathematically sound, follow industry standards, are implemented correctly, and perform adequately.
- Evaluate potential model risks related to embedded assumptions vs. target applications and model implementation limitations, recommending risk mitigation measures as necessary.
- Document model validation outcomes and communicate findings to stakeholders and model risk leaders.
- Ensure business units comply with the Model Risk Policy, providing adequate documentation for independent validation and governing the entire model lifecycle.
- Participate in the annual model materiality refresh and inventory attestation process.
- Provide mentorship to junior staff.
- Participate in ad-hoc projects as needed.
Benefits
We offer a comprehensive range of benefits, including medical, dental, mental health, vision care, short and long-term disability, life insurance, and employee assistance programs. Our generous paid leave policies ensure that you have time to recharge and focus on your well-being.
What We Offer
We are committed to empowering you to learn and grow the career you want. You will benefit from a competitive salary, ranging from $84,375 to $151,875 CAD per year, depending on your experience and qualifications. Our inclusive work environment and flexible culture support your personal and professional growth.
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