Director, Model Validation, Global Model Risk Management

Requisition ID: 225877

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Model Validation & Approval area within Global Model Risk Management provides independent and consistent model validation and approval across various risk types, including market risk, credit risk, asset/liability risk management, anti-money Laundry, fraud, and other key risks. Types of models covered include models used for derivative pricing/valuation, capital models, and other models used for financial reporting and risk management.This position is for the Director role that oversees validation of credit risk capital models used for the Bank's regulatory capital purposes.

**Is this role right for you? In this role, you will**:

- Provides direct leadership and oversight for the model validation function for Credit Risk Capital models, ensuring that validations are conducted consistently with appropriate standards and follow regulatory requirements and internal policies/procedures.
- Leads a team of highly quantitative staff in managing a portfolio of new and existing models for credit risk capitals for the Bank's retail and non-retail business lines. Oversee day-to-day validation activities, review validation work and reports, provide feedback for coaching/development, and provide model approval recommendations to the department head and the model approving committee.
- Develop validation work plan, prioritize validation assignments, and manage timelines for special projects/initiatives. Manage the validation team in executing the work plan; manage resources, including identifying, recruiting, coaching, and retaining high-quality staff
- Works collaboratively with key multi-disciplinary stakeholders (including model developers, users, internal audit, senior management and regulatory bodies) to facilitate the validation process and resolve discussions / escalations of validation results in a timely manner.
- Maintains effective internal communication across the Model Risk Management team as well as effective lines of communication with stakeholders and senior management, including appropriate handling of conflicts and issue resolution.
- Manage timely resolution of audit and regulatory issues.
- Lead and/or support regulatory requests and reviews as well as large-scale projects.
- Participates in industry forums; maintains relationships with counterparts at other financial institutions to keep abreast of industry and regulatory developments and evolving expectations.
- Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions. Ensures compliance with internal policies, procedures, and regulatory requirements, where applicable.
- Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment, communicating vison/values/business strategy and managing succession and development planning for the team.

**Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have**:

- The incumbent has an advance degree (preferably master’s or PhD) in quantitative disciplines such as Mathematics, Statistics, Economics or other fields that provides excellent exposure to quantitative/statistical methods.
- 10+ years of experience in credit risk modelling at a major financial institution.
- 7+ years of experience in addressing regulatory issues and developments related to credit risk modelling.
- 7+ years of people management experience.
- Thorough understanding of credit risk decisioning, provisions, and capital models with extensive experience in model development/validation, along with detailed knowledge of regulatory requirements and policies/procedures.
- Strong computing, analytical, and technical skills
- Forward and thinking to identify emerging regulatory/market requirements on credit risk analytics.
- Excellent interpersonal, relationship-building, people management and coaching skills. In all these instances, significant reliance is placed on the incumbent to communicate complex issues effectively and constructively to stakeholders across business lines, and regularly to senior management.
- Be able to handle stressful situations/environment, simultaneous tasks under multiple concurrent work streams and meet monthly / quarterly and ad-hoc deadlines.
- Have a strong 'hands-on' orientation to modelling theory, data analysis and validation work.
- Team leadership to promote excellence in review and validation work, as well as general acceptance of and confidence in the outputs produced by the area.
- Flexibility and creativity in problem solving, including strong abilities of innovation and path-finding.
- Strong ability to devise and implement operational frameworks, processes, controls and documentation approaches for a team comprising of specialized quantitative staff.
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