Requisition ID: 231627
Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
The Global Model Risk Management area provides independent and consistent model validation and approval across various risk types, including provisioning and capital models (IFRS 9, AIRB), retail/non-retail credit risk, market risk, operational risk, anti-money laundering, and other key risk/financial models.
The manager provides support to Senior Manager in the validation of IFRS 9 expected credit loss forecasting models for provisioning of domestic and international retail/non-retail portfolios. 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, and collaboration/communication with the model development teams and business lines to ensure model development methodologies and validation processes are in compliance with internal framework and regulatory requirements.
Is this role right for you? In this role, you will:
Validate IFRS9 provisioning models for retail and business banking portfolios including all parameters (PD, LGD, Lifetime, SIR, EAD) and ECL assessment. Conduct comprehensive review of the data processing, including the independent replication of data extraction and data manipulation steps, as well as assessing the suitability and sanity of the data sources. For the model being validated, review the methodology implemented for reasonableness and applicability, assess soundness of model methodology, review the architecture of the software application implementing the model, perform quantitative tests and qualitative assessments of the model, execute independent calculations, and analyze/interpret model output. Raise and effectively communicate the validation results and findings to the model owners, prompting appropriate action to address the identified deficiencies in data or modelling processing, which may lead to model recalibration and methodology enhancement. Responsible for completing draft validation 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; maintain relationship with key contacts as identified for each validation. Support Senior Manager in keeping the inventory system updated. Comply with internal policies, procedures, and regulatory requirements where applicable. Provide support to resolve outstanding audit and regulatory issues, and to respond to ad hoc senior management and regulatory requests. Keep abreast of industry and regulatory developments and evolving expectations and recommend and enforce improvements to tests/methods to fulfill internal validation needs and to align (if applicable) with industry practices.
Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:
What's in it for you?
Diversity, Equity, Inclusion & Allyship - We strive to create an inclusive culture where every employee is empowered to reach their fullest potential, respected for who they are, and are embraced through bias-free practices and inclusive values across Scotiabank. We embrace diversity and provide opportunities for all employee to learn, grow & participate through our various Employee Resource Groups (ERGs) that span across diverse gender identities, ethnicity, race, age, ability & veterans. Accessibility and Workplace Accommodations - We value the unique skills and experiences each individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Scotiabank continues to locate, remove, and prevent barriers so that we can build a diverse and inclusive environment while meeting accessibility requirements. Upskilling through online courses, cross-functional development opportunities, and tuition assistance. Competitive Rewards program including bonus, flexible vacation, personal, sick days, and benefits will start on day one. Community Engagement - no matter where you choose to work from; we offer opportunities for community engagement & belonging with our various programs.
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.
At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.