Scotiabank

Manager, Model Validation & Approval

Scotiabank$80K — $95K *
Finance & Insurance
Less than 5 years of experience
Job Overview by Ladders

Qualifications

  • 1-2 years of relevant experience in quantitative risk management is preferred.
  • Experience with AIRB credit risk models is preferred.
  • Strong proficiency in mathematics and statistical modeling.
  • Excellent analytical, numerical, and problem-solving abilities.
  • Familiarity with financial statements analysis is an asset.
  • Proficiency in programming languages such as Python, SQL, SAS, R, and Matlab.

Responsibilities

  • Support the model validation team to mitigate model risks.
  • Discover and diagnose risks associated with modeling inputs and methodologies.
  • Provide expert recommendations on model strengths and weaknesses.
  • Validate models as assigned by the model governance committee.
  • Discuss validation outcomes with model owners to gain consensus and strategize improvements.
  • Utilize express mode validation for new model development and compliance issues.
  • Review model documentation and conduct test runs on model codes.

Benefits

  • Inclusive and collaborative work environment that fosters creativity.
  • Flexibility for employees to design their own work schedules.
  • Access to a competitive total rewards package including performance bonuses.
  • Company matching programs for pensions and profit sharing.
  • Generous vacation policy.
Full Job Description
Requisition ID: 270373

Looking for a highly motivated and qualified Model Validation team member to support its objectives. The primary responsibility of this role is to support the credit model validation team to mitigate the model risks under the model governance for the entire group. The team is responsible to discover and diagnose modeling related risks including input data, assumption, concept, methodology, process and implementation. The team is also responsible to opine on the model strength and weakness and recommend practical solutions.

Is this role right for you? In this role you will:
  • Support the model validation team to mitigate the model risks
  • Discovers and diagnoses modeling related risks including input data, assumption, concept, methodology, process and implementation
  • Provides subject matter expertise on models' strength and weakness and recommend practical solutions
  • Validates models assigned by model governance committee
  • Discusses validation results with model owners and governance team to gain consensus and create strategies to implement changes if needed
  • Utilizes express mode validation for new model development, facing legal and compliance related modeling issues, quick model fixes, etc.
  • Review model documents and conduct test runs on model codes
  • Provide different view on methodology and calculations, and provide feedback to model developers
  • Work on model validation reports with hiring manager and provide ad hoc support as necessary


Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
  • 1-2 years relevant experience in quantitative risk management field is preferred.
  • Experience with AIRB credit risk models is preferred.
  • Proficient in mathematics, econometric models and statistics.
  • Strong analytical, numerical, research and problems solving skills.
  • Experience with financial statements analytics is an asset.
  • Software skill: Python, SQL, SAS, R and Matlab.


What's in it for you?
  • We are technology partners who help the business transform how our employees around the world work
  • We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!
  • We care about our people, allowing them to design how they work to deliver amazing results
  • We offer a competitive total rewards package, including a performance bonus, company matching programs (on pension & profit sharing), and generous vacation


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
5 Year Trend
+7%
NASDAQ

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