Manager, Model Validation

Requisition ID: 174453 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. **Purpose of Job**: The Global Model Risk Management area provides independent and consistent model validation and approval across various risk types, including market risk, retail/non-retail credit risk, operational risk, capital models and other key risk/financial models. The manager provides support to senior manager in the validation of domestic and international retail/non-retail credit adjudication and behavior models, as well as credit loss forecasting models for provisioning purposes. This position entitles activities related to model validation work to establish overall soundness of the credit risk measurement, delivery of various ad-hoc validation assignments, collaboration with the model development teams and business lines, and communicating results to model owners ensuring compliance with internal framework and regulatory requirements. He/she may also communicate and negotiate with the different counterparties regarding issues identified during the validation. **Responsibilities**: - Validate retail scoring (adjudication/behaviour) models and non-retail adjudication Models. - Validate IFRS-9 provisioning models for retail and non-retail credit portfolios. - Validate retail strategy models. - Based on the results of model validation, recommend improvements to the model or the model development process and identify material improvement opportunities in the models being validated. - Responsible for completing draft reports and submission of all necessary documentation related to validation assignments to Senior Manager; ensure accuracy and completeness of archived information and related documentation to allow independent third party review of the validation work performed. - Establish communication with model owner/developers to understand model rationale and issues; mantain relationship with key contacts as identified for each validation. - Communicate findings from validation work to stakeholders. - Maintain collaborative relationship with clients - Provide support to Senior manager to respond to ad hoc, regulatory and audit requests. - Recommend and enforce improvements to tests/methods in order to fulfill internal validation needs and to align (if applicable) with industry practices - Support Senior Manager in keeping the inventory system updated - Comply with internal policies, procedures and regulatory requirements where applicable. - Keep abreast of industry and regulatory developments and evolving expectations. **Job Requirements**: - 1+ year of experience in the development and/or validation of risk and/or financial models is desirable. - Exposure or experience in other risk functions such as credit risk, market risk, or operational risk management also desirable. - Sound understanding of various modelling techniques and comfortable to conduct various testing - Strong knowledge of statistical techniques and proven ability to employ these to analyze large sets of data; ability to effectively utilize relational database and SQL queries for data analysis. - Excellent verbal and written communication skills. - Hands on programming skills, particularly statistical and database modeling tools (SAS, R, Python or similar). Ability to adapt to various programming languages and environments. - Knowledge of financial risk management, especially issues and techniques pertaining to credit risk management - including their practical implications and limitations is desirable. - Ability to speak and write in Spanish would be desirable. - Ability to manage efficiently multiple priorities in order to deliver work assignments within agreed timelines - Attention to details, independence, and ability to effectively collaborate with model owner/sponsor counterparts and in teamwork. - Effective presentation and communication skills; strong written communication skill is essential. Location(s): Canada : Ontario : Toronto Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.