Scotiabank

Manager, IFRS9 Modelling, Enterprise Stress Testing

Scotiabank • $100K — $130K *
Toronto, ON M3C 0E3In-Person
Finance & Insurance
Less than 5 years of experience
Reposted 4 days ago
Be an Early Applicant
Job Overview by Ladders

Qualifications

  • Advanced degree in Statistics, Economics, Finance, Mathematics, Data Science, or related field.
  • Expertise in quantitative modeling, statistical analysis, econometrics, and data science.
  • Proficient in Python; experience with Spark is an advantage.
  • Familiarity with Linux/UNIX systems and version control tools like Git.
  • Experience with large datasets and optimizing code for performance.
  • Hands-on credit risk modeling experience, especially with Probability of Default (PD) and Loss Given Default (LGD).
  • Knowledge of stress testing frameworks and methodologies is preferred.

Responsibilities

  • Develop credit risk stress testing models for retail portfolio under stressed macroeconomic conditions.
  • Implement and apply models to generate stress testing results such as ECL, PCL, and RWA.
  • Analyze and validate model outputs to ensure accuracy and explainability.
  • Create data visualization tools for scenario analysis and prepare reports for stakeholders and regulators.
  • Conduct analyses on emerging risks like climate change and financial market pressures.
  • Collaborate with various teams to ensure compliance with industry standards and best practices.
  • Support the model validation and development processes across frameworks.

Benefits

  • Opportunities to work in a collaborative and innovative environment.
  • Diverse professional development paths and exposure to the bank's financial profile.
  • Potential to become a subject matter expert on retail portfolio stress testing.
  • Comprehensive benefits package and competitive compensation.
  • Commitment to making a positive impact in the community.
  • Inclusive workplace fostering creativity and success.
Full Job Description
Requisition ID: 261071

Enterprise Stress Testing's ("EST") mandate is to design and run the Bank's stress testing program. We need a strong individual to help with credit risk stress testing of the Bank's retail portfolio. You will get the opportunities to apply your technical skillset and analytical mindset in building credit risk models and providing stress testing insights across geographies and products. This role has the potential for direct impact on business strategy with stress testing as a decision-making tool by senior management in Global Risk Management as well as Finance executives and the Board.

Is this role right for you? In this role you, will:
  • Model Development: Design and develop credit risk stress testing models that forecast credit quality migration under stressed macroeconomic conditions for retail portfolio. This involves models for PD, downgrade rates, and LGD.
  • Stress Test Implementation: Apply these models to generate stress testing results - including ECL, PCL, and RWA - under various macroeconomic scenarios. Continuously optimize code repositories to ensure efficiency, accuracy, and production-readiness.
  • Result Analysis and Reporting: Conduct detailed analysis to validate the accuracy and explainability of model outputs. Develop robust data visualization tools and standards to support complex scenario analysis. Prepare and deliver stress testing reports to internal stakeholders and external regulators, including OSFI.
  • Emerging Risk Analysis: Perform supplementary analyses and develop methodologies to address emerging risk themes such as climate change, geopolitical instability, elevated consumer indebtedness, and housing market pressures etc.
  • Cross-Functional Collaboration: Collaborate with model validation, internal audit, and other model development teams (e.g., AIRB, IFRS 9, Capital Management) to ensure alignment with industry best practices and maintain model compatibility and compliance across frameworks.


Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
  • Advanced degree in Statistics, Economics, Finance, Mathematics, Data Science, or a related quantitative discipline.
  • Proven expertise in quantitative modeling, including statistical analysis, econometrics, machine learning, and data science techniques.
  • Proficiency in Python is required; experience with Spark is considered an asset.
  • Familiarity with Linux or UNIX systems and version control tools such as Git or Bitbucket is advantageous.
  • Demonstrated experience working with large and complex datasets and optimizing code for performance and scalability.
  • Hands-on experience in credit risk modeling, particularly related to Probability of Default (PD) and/or Loss Given Default (LGD).
  • Exposure to stress testing frameworks and methodologies is desirable.
  • Strong communication skills, with the ability to convey complex analytical insights to diverse audiences.
  • Solid understanding of banking financial statements, retail credit products, and credit risk modelling.
  • Working knowledge of Risk-Weighted Assets (RWA) and Basel capital requirements is an asset.
  • Experience leading or contributing to transformational projects.
  • Track record of presenting analytical findings and business insights effectively.


What's in it for you?
  • The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
  • A rewarding career path with diverse opportunities for professional development. This position will have exposure to multiple aspects of the bank's financial profile, such as balance sheet growth, provisions for credit losses and capital adequacy assessment.
  • Becoming a subject matter expert and storyteller for our Canadian retail portfolio, in terms of how the stress testing process works and what drives the portfolio's credit loss
  • A competitive compensation and benefits package.
  • An organization committed to making a difference in our communities- for you and our customers.
  • We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!


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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