Senior Analyst, Model Validation and Risk Management
21 hours ago
Job Title: Senior Analyst, Model Validation and Risk Management
Job Summary:
Sun Life Financial is seeking a highly skilled Senior Analyst to join our Model Validation and Risk Management team. As a key member of this team, you will be responsible for conducting independent validations of complex mathematical, statistical, and actuarial models used across the enterprise.
Key Responsibilities:
- Conduct independent validations of existing and new models used by Sun Life Financial 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.
- 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 the 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.
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