Scotiabank

Manager, AML Model Validation (Contract)

Scotiabank • $100K — $120K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
Less than 5 years of experience
Today
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • 1+ year of experience in data management or data architecture, preferably with large datasets
  • 1+ year of experience in model development and/or validation
  • Working knowledge of AML-related regulatory requirements is preferred
  • Strong experience in data analysis and statistical techniques
  • Proficiency in writing complex SQL queries and utilizing relational databases
  • Effective time management skills to handle multiple concurrent projects
  • Advanced degree in quantitative disciplines such as Statistics, Mathematics, or Computer Science.

Responsibilities

  • Perform independent validation of AML models across various functions
  • Deliver model validation solutions according to a work plan
  • Review and provide opinions on the soundness of models
  • Prepare documentation for validation assignments ensuring accuracy
  • Support the team by challenging model developers and stakeholders
  • Assist in resolving audit and regulatory issues
  • Provide responses to senior management and regulatory requests

Benefits

  • Inclusive and collaborative work environment
  • Competitive rewards package including performance bonuses and pension matching
  • Access to career development and progression opportunities
  • Health benefits starting from day one
Full Job Description
Requisition ID: 264701

The Model Validation & Approval 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, AML and other key risk/financial models. The Manager provides support and execution within AML Model Validation team to ensure that Scotiabank is maintaining ongoing effectiveness of AML model validation program. The incumbent will be independently executing data management and model quality assurance testing/validation work according to the AML model validation frameworks. The candidate will provide continuous support to the department by implementing successful AML model validation strategies within the bank.

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

  • Perform independent validation of AML modesl across the enterprise, including the vertical functions of (but not limited to), transaction monitoring, client risk rating, sanction screening, watch list, etc.
  • Responsible for delivering model validation solution according to work plan; determine and execute data verification and quality assurance assessments and model implementation tests; identify material improvement opportunities in the model inputs being validated.
  • Review and provide opinions on the soundness and use of the model; develop thorough model validation reports based on the plan, procedures and requirements.
  • Prepare all necessary documentation related to validation assignments; ensure accuracy and completeness of archived information and related documentation to allow independent third party review of the validation work performed.
  • Support the team to effectively challenge, pursuant to the model requirements, model developers and stakeholders.
  • Provide support to resolve outstanding audit and regulatory issues, and to respond to ad hoc senior management and regulatory requests


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

  • 1+ year of experience in the data management or data architect, with familarity and be comfortable to handle large data
  • 1+ year of experience in model development and/or validation.
  • Working knowledge of AML related regulatory requirements is preferred.
  • Ability to effectively utilize relational databases for data analysis and write complex SQL queries.
  • Proficiency in constructing and executing distributed queries from a variety of databases/sources is required.
  • Strong experience or background in data analysis and statistical techniques; proven ability to employ these to analyze large sets of data.
  • Strong proficient in programming language, such as SQL, SAS, R, Python, VBA, MATLAB, etc.
  • Experience with Oracle Mantas AML solutions or knowledge of AML models and tools will be an asset.
  • Effective time management in order to efficiently deliver concurrent projects with competing priorities.
  • Ability to work independently as well as a team player to deliver work assignments.
  • Constructive conflict management ability; ability to collaborate effectively with counterparts and stakeholders.
  • Effective presentation and communicaton skills; Strong written skill is essential.
  • Ability to manage efficiently multiple priorities.
  • Attention to details, independence, and ability to effectively collaborate in teamwork.
  • Flexibility and creativity in problem solving.
  • Advanced degree in quantiative disciplines, for example, Statistics, Mathematics, Economics, Engineering, Computer Science.
  • Certified Anti-Money Laundering (CAMS) desnigation is an asset


What's in it for you?

  • An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
  • We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
  • Your career matters! You will have access to career development and progression opportunities.


Location(s): Canada : Ontario : Toronto

About Scotiabank

Scotiabankers are committed to helping individuals, companies, and communities to thrive in a changing world. From personal and business banking, brokerage, and insurance, to private wealth, and the most sophisticated commercial, corporate and institutional services, they serve the diverse needs of some 21 million customers in more than 55 countries. Founded in 1832 in Halifax, Nova Scotia, their growth has always been fuelled by the success of their customers and their longevity secured by an unshakable commitment to carefully and expertly managing risk and capital. That focus on doing what's right for customers—short- andlong-term—has made us a global financial services leader. Headquartered in Canada, they are over 86, 000 Scotiabankers strong. Each of us are committed to being the best at understanding their customers' needs and all of us working together to deliver practical advice and relevant solutions that help their customers become financially better off.

Scotiabank Careers

Join Scotiabank, a premier financial institution, and become part of a diverse and inclusive team that’s leading the way in global banking. At Scotiabank, we offer more than just job opportunities; we provide a platform for professional growth and innovation in the financial services industry.

Work You’ll Do

At Scotiabank, we’re not just filling positions; we’re cultivating leaders. Dive into a workplace where diversity training and leadership development shape the path to your future. Our commitment to professional growth is evident in our robust training programs and continuous learning opportunities that foster innovation and strategic thinking.

Explore a World of Opportunities

Whether you’re looking for a full-time position, an internship, or a leadership role, Scotiabank has a spectrum of opportunities to fit your career ambitions. Our team is composed of individuals who bring a wealth of skills and perspectives to our company, driving us forward with their creativity and strategic insights.

Innovative Work Environment

Scotiabank’s culture is one of collaboration and respect, where each team member’s contribution is valued. Engage in meaningful work that challenges you to leverage your skills and push the boundaries of what’s possible in the banking sector. Our innovative projects not only support the growth of the company but also ensure our position as a leader in the industry.

Benefits and Growth

Choosing a career at Scotiabank means opting for a life of growth and opportunity. Our employees enjoy competitive benefits, including comprehensive health coverage, retirement plans, and flexible working conditions, all designed to support your career and personal life. We believe in nurturing our team’s potential by providing them with the tools they need to succeed both professionally and personally.

Join Our Team

Ready to take the next step in your career? Explore the job opportunities at Scotiabank by searching our open positions that match your skills and interests. We are continuously hiring and looking for passionate, curious, and solution-driven team players.

Networking and Professional Development

Stay connected and advance your career through Scotiabank’s extensive networking opportunities. Participate in events that connect you with other professionals and leaders within the industry. Our career resources will help you prepare your resume, ace your interviews, and land the job that best suits your career goals.

Stay Ahead

Keep up to date with the latest in career tips, industry insights, and company news—all from the people who work here at Scotiabank. Personalize your experience by subscribing to job alert emails tailored to your preferences and be the first to know about new openings and exciting developments. Join Scotiabank and be part of a team that values integrity, respect, and accountability. Discover how your career can flourish in an environment committed to your professional development and personal growth.
Learn more about Scotiabank
Size
90,619 employees
Market Cap
$57.5 billion
Industry
Finance & Insurance
5 Year Trend
+7%
NASDAQ
BNS
* Ladders Estimates

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