Senior Manager, Model Risk Governance Requisition ID: 235503 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. Supports the design, implementation, and continuous enhancement of the Bank’s Enterprise Model Risk Management processes and oversight of models across market risk, credit risk (retail and non-retail), operational risk, capital, and treasury models, among others, across both domestic and international portfolios. This position is part of the Model Risk Governance unit within Global Model Risk Management (GMRM), which must ensure governance processes meet internal standards and global regulatory expectations (e.g., OSFI E-23, FRB SR 11-7, PRA SS 1/23), while fostering a culture of accountability, transparency, and continuous improvement. **Is this role right for you? In this role, you will:** + Foster a high-performance, inclusive work environment that encourages continuous improvement and cross-functional collaboration. + Policy & Internal Document Management, Processes, and Controls + Lead the design, review, and continuous enhancement of the Bank’s enterprise-wide Model Risk Management (MRM) documentation—including the Framework, Policy, and Standards—ensuring alignment with regulatory expectations and stakeholder input. + Drive the development and refinement of model performance monitoring and issue management frameworks, ensuring exceptions are proactively identified, tracked, and resolved in alignment with enterprise-wide governance documents. + Oversee the integration of model performance monitoring into policy and procedural documentation, ensuring consistency, clarity, and traceability across all model types and business lines. + Enhance the model risk rating methodology to support consistent and transparent assessment of model risk across portfolios, incorporating lessons learned and industry best practices. + Support ongoing governance activities such as policy attestations, regulatory reporting, and assessments of new risk initiatives, ensuring timely and accurate execution. And maintain all process and procedure documents supporting the control administration of the bank's model inventory + Design and maintain specific training of model stakeholders to new M&AIRMF governance operating model **Relationship Management** + Champion a risk-aware and customer-focused culture by fostering strong partnerships with Model Owners, Reviewers, Users, and other key stakeholders across the Bank. + Manage relationships with material subsidiaries and international markets, providing expert guidance on model governance implementation and regulatory alignment. + Act as a trusted advisor to internal stakeholders including MVA, BGRO, Audit, and Finance, responding to inquiries and promoting consistent application of model governance principles. + Ensure model governance activities reflect and reinforce the Bank’s risk appetite and risk culture in day-to-day decision-making. **Model Inventory Management & Reporting** + Oversee the Bank’s model inventory platform (e.g., SAS MRM), ensuring completeness, accuracy, and alignment with internal MRM documentation and governance standards. + Support specification of requirements to implement revised E23 compliance governance framework into SAS model management platform. + Lead the discovery and attestation process to ensure all models in scope are accurately captured and maintained within the inventory, supporting enterprise-wide transparency and accountability. + Coordinate and support the development of model risk reporting for Senior Management and the Board, delivering insights that inform strategic decision-making. + Prepare and present executive-level decks that highlight key trends, risks, and opportunities in model risk across the Bank. **Internal Controls** + Lead and manage internal control processes related to model risk, including RCSA, CRCA, and NIRA activities, ensuring robust documentation and effective risk mitigation. **Automation/Innovation & Strategy** + Research and incorporate industry best practices in model risk governance, with a focus on regulatory expectations and audit readiness. + Support the model risk governance strategy and enterprise-wide risk management goals, ensuring proactive identification and mitigation of model-related risks. + Design and implement automation tools and process efficiency initiatives to strengthen controls, reduce manual effort, and enhance data integrity. + Leverage advanced tools (e.g., Power BI, SQL, Python, VBA) to drive innovation in reporting, monitoring, and governance processes. **Do you have the skills that will enable you to succeed in this role? We'd love to work with you if you have:** + Bachelor’s degree in Business, Data Science, Mathematics, Economics, or degree in business related fields with strong reporting experience preferred. + 5+ years of related experience in risk management, preferably in model risk management, audit or a related risk identification and reporting function within a financial institution. + Strong understanding of model risk management principles, including regulatory frameworks (e.g., OSFI E-23, FRB SR 11-7, PRA SS 1/23). + Proficiency in data analysis and reporting tools such as SQL, Power BI, Excel, VBA, R, Python etc. + Strong knowledge of internal control design, implementation, testing and documentation + Knowledge on financial products and models used for various purposes + Knowledge on model validation, model development or model risk audit practices + Good knowledge on databases and systems for model inventory management (IBM OpenPages/SAS MRM) + Excellent analytical and problem-solving skill, with the ability to work independently through complex challenges and tight timelines + Proactive, self-directed, and able to work independently and collaboratively within a team. + Strong written and communication skills with the ability to simplify and convey complex technical concepts. + Strong organizational skills and the ability to manage efficiently multiple priorities under tight deadlines. + Fluency in Spanish is an asset. **What's in it for you?** + We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success! + An inclusive working environment that encourages creativity, curiosity, and celebrates success! + A rewarding career path with diverse opportunities for professional development + Internal training to support your growth and enhance your skills + A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more! 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, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . 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.