Senior Model Validation Specialist

4 weeks ago


Calgary, Alberta, Canada Canada Mortgage and Housing Corporation Full time
About the Role

We are seeking a highly skilled Senior Specialist, Model Validation to join our Model Risk Management division. As a key member of our team, you will be responsible for applying advanced analytical skills and knowledge of Canada's financial and mortgage sectors to modelling initiatives at CMHC.

Key Responsibilities
  • Perform validation of various models, including credit risk, pricing, actuarial, IFRS17, economic capital, stress testing, and machine learning models.
  • Design and implement statistical tests to assess model sensitivity, robustness, and performance.
  • Assess model soundness and risk in both approach and usage.
  • Monitor model performance to ensure ongoing quality and identify opportunities to improve existing models and analytical tools.
  • Make sound and balanced decisions on complex issues and provide expertise to ensure the Corporation is not at undue risk.
  • Help improve model validation procedures and model risk governance to reflect industry best practices.
Requirements
  • A postgraduate degree in Quantitative Finance, Mathematics, Statistics, Data Science, Actuarial Science, Finance, Economics, or other quantitative field.
  • A minimum of five years of relevant experience in modelling/validation or quantitative analytics at a bank, insurance company, asset manager, or other types of financial institution.
  • Demonstrated knowledge and experience with various quantitative software, such as R, Python, VBA, Databricks, Clouds, etc.
  • Knowledge of OSFI capital rules and risk management standards and IAIS capital standards.
  • Demonstrated experience in writing technical modelling or validation reports.
  • Ability to persuade, influence, and/or negotiate with colleagues, clients, and senior management.
  • Ability to research issues, analyse problems, synthesize information, and make recommendations.
Preferred Qualifications
  • Professional designation, such as Actuarial, Chartered Financial Analyst, Professional Risk Manager, Financial Risk Manager, Certificate in Quantitative Finance, etc.
  • Demonstrated experience with mortgage insurance, retail lending, scorecard development, economic capital, and stress testing.

CMHC is an inclusive workplace where diversity of thought and of people are recognized, valued, and considered essential to achieving our mission. If you are selected for an interview or testing, please advise us if you require an accommodation.



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