Scotiabank

Manager, Model Validation

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

Qualifications

  • Advanced degree in a quantitative discipline or equivalent experience.
  • 2-3 years of experience in model validation, development, or quantitative risk management.
  • Knowledge of model risk management practices and regulatory guidance.
  • Ability to independently manage and deliver validation work across multiple projects.
  • Strong understanding of modelling techniques and risk concepts.
  • Proficiency with analytical tools such as Python, SAS, or R.
  • Excellent communication skills for complex concepts.

Responsibilities

  • Assist in independent validations of quantitative models according to policy and regulations.
  • Perform technical reviews and execute quantitative tests on models.
  • Enhance validation templates and documentation standards based on lessons learned.
  • Maintain organized workpapers and ensure traceability from requirements to conclusions.
  • Engage with model owners to clarify purposes and limitations of models.
  • Document findings and recommendations in well-structured validation reports.
  • Support governance and regulatory reviews with comprehensive analysis and documentation.

Benefits

  • Opportunity to deepen technical expertise in quantitative risk models.
  • Collaborative environment promoting integrity and inclusion.
  • Exposure to significant balance sheet and liquidity risk models.
  • Focus on continuous improvement in model validation practices.
Full Job Description
Requisition ID: 271737

The Manager, Model Validation provides independent, objective assessment and effective challenge of quantitative models used across Treasury (ALM, liquidity and cashflow management, funds transfer pricing), Interest Rate Risk, and enterprise stress testing. This role executes validations in line with the Bank's Model Risk Management Policy and regulatory expectations, working closely with model developers and stakeholders across Treasury, Risk, Economics, and technology teams to ensure models are conceptually sound, appropriately implemented, and fit for use.

Key Accountabilities
  • Assist Senior Manager to execute independent validations of quantitative models (e.g., asset and liability management, liquidity risk, interest rate risk in the banking book, funds transfer pricing components, non-maturity deposits, and stress testing models) in accordance with internal policy and regulatory expectations.
  • Perform in-depth technical reviews of model methodology, assumptions, data inputs, limitations, governance, and outcomes; design and execute quantitative tests such as replication, sensitivity analysis, benchmarking, and back-testing/performance monitoring (as applicable).
  • Contribute to the ongoing enhancement of validation templates, testing approaches, and documentation standards by sharing lessons learned and proposing practical improvements.
  • Ensure validation activities and evidence are completed in accordance with internal policies/standards and relevant regulatory expectations; maintain organized workpapers and traceability from requirements to testing to conclusions.
  • Engage with model owners and stakeholders to clarify model purpose, use, and limitations; communicate validation questions, findings, and remediation expectations in a timely and constructive manner.
  • Document work in clear, well-structured validation reports that articulate findings, model risks, and practical recommendations for both technical and senior stakeholders; assess issue materiality/impact and support remediation planning and ongoing monitoring.
  • Partner with model owners, developers, technology teams, and risk stakeholders to understand model design and usage, while providing independent and constructive challenge; communicate validation issues and track them through resolution.
  • Support governance forums, internal audit, and regulatory reviews by providing analysis, documentation, and responses; ensure validation evidence and archived documentation are complete and suitable for independent third-party review.
  • Contribute to continuous improvement of validation standards, templates, and techniques; conduct targeted research on emerging best practices and, where applicable, provide guidance to junior team members.
  • Assess stress testing model governance and controls (data lineage, change management, model use and limitations, and documentation standards) and ensure validation evidence is fit for internal audit and regulatory review, including clear traceability from requirements to testing to conclusions.


Qualifications
  • Advanced degree in a quantitative discipline (e.g., mathematics, statistics, economics, financial engineering, physics, engineering, finance, or data science) or equivalent experience.
  • 2-3 years of relevant experience in model validation, model development, or quantitative risk management within a financial institution; experience with Treasury/ALM, liquidity and cashflow management, interest rate risk (e.g., SIRR/IRRBB), and/or enterprise stress testing is strongly preferred.
  • Working knowledge of model risk management practices and relevant regulatory guidance (e.g., OSFI B-12 and B-15), with the ability to apply requirements to validation testing and documentation.
  • Ability to independently plan and deliver validation work (scope, testing strategy, timelines, and reporting) and manage multiple validations in parallel with appropriate escalation of risks and issues.
  • Strong understanding of modelling techniques and model risk concepts; ability to discover and diagnose risks related to data, assumptions, methodology, process, and implementation.
  • Proficiency with analytical/programming tools (e.g., Python, SAS, R, SQL, MATLAB, C++) and advanced Excel; able to independently design and execute validation tests.
  • Excellent written, presentation, and interpersonal skills; able to communicate complex concepts clearly and influence outcomes through constructive challenge.
  • Strong analytical and problem-solving skills, attention to detail, and ability to manage multiple priorities with sound judgment and accountability.


Why Join

You'll join a team that supports the Bank's safety and soundness through strong model risk management. The role offers exposure to material balance sheet and liquidity risk models, opportunities to deepen technical expertise, and a collaborative environment focused on integrity, inclusion, and continuous improvement.

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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