Senior Manager, Model Validation

The Senior Manager, Model Validation reports to the Director, Model Risk Management, and supports the Director and the VP, Model Risk Management, with respect to all aspects of model validation activities within the Bank. The incumbent is responsible for assisting in the development of strategies to validate models through effective challenge and for executing the related validation procedures. The incumbent will also be responsible for ensuring model risk is appropriately managed in accordance with the Bank’s Model Risk Management Framework and applicable regulatory requirements. This includes models for credit and treasury risk management (such as AIRB and IFRS 9 ECL models, interest), interest rate risk, liquidity, and stress testing approaches used to support ICAAP.

The incumbent will be instrumental in fostering relationships with model risk stakeholders. The scope of work includes validating model methodology, evaluating the reasonableness of assumptions, identifying the model effective range of use, limitations, assessing the quality of model inputs, developing benchmark analysis, articulating and communicating identified issues and recommendations, drawing conclusions, and creating model validation reports in accordance to the Bank’s Model Risk Management Framework (MRMF). The incumbent’s primary focus will be on conducting model validation activities. The incumbent may also support model governance activities, such as self-assessments against regulatory guidance and requirements, as well as risk reporting.