Senior Specialist - Model Risk and Validation (T00012022)

About the Role

Join our Risk team to manage and validate bank-wide risk models, ensuring compliance with Model Risk Management standards. You will perform independent model validation, monitor model lifecycle, and provide insights to senior management. Ideal for professionals with strong quantitative, risk modeling, and regulatory experience in banking.

Responsibilities

• Ensure bank wide compliance with the Model Risk Management Policy and related Minimum Standard.
• Ensure model life cycles are followed by model owners, including periodic reviews and updates.
• Maintain central complete inventory of all models within the Bank, with complete model documentation.
• Perform 2nd line validation activities on credit risk non-regulatory models and all other non-credit models.
• Conduct Model Risk Dashboard and escalate potential issues properly to Management level and/or ROC quarterly.
• Define, review and propose Model Risk appetite.
• Make an annual consolidated model risk assessment and report to ROC.
• Ensure identification and proper classification of all models, challenge model owners bank wide.
• Maintain communication with external validators when appropriate.

Qualifications

• Bachelor’s or master’s Degree in a quantitative field such as Financial Engineering, Applied Finance/Statistics/Mathematics, Economics, etc.
• Minimum 5 years of relevant consulting type of experience combining risk management and quantitative modelling in financial services (preferably within the banking sector).
• Experience in development and/or implementation of risk models (vendor or “in-house”) for credit products such as Application, Behaviour or Collection models.
• Experience in development of Marketing models, Market risk models or financial models such as Propensity, Fund transfer pricing or Prepayment models is an asset.
• Experience in IFRS9 models and prudential regulations is an important asset.
• Fluency with software packages and demonstrated understanding of financial mathematical techniques, risk measures, statistics, applied mathematics, and/or finance with practical experience in using SAS, Python or R.
• Good general awareness of the full range of risks in financial services (financial and nonfinancial) and ability to analyse their combined impact.
• Excellent analytical and synthesis skills, autonomy, flexibility, multitasking, ability to work under pressure and meet tight deadlines.
• Capacity to build strong relationships with colleagues, positive and constructive team spirit.
• Proven track record working in quantitative teams with high degree of independence and responsibility in fields such as credit risk, stress test and financial planning, corporate stress test, or advanced analytics in nonfinancial risk.
• Ability to communicate complex ideas effectively – both verbally and in writing – in English.