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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 market risk, retail/non retail credit risk, operational risk, capital models and other key risk/financial models. The Senior Manager will support the Director in the validation related to models used in treasury, asset and liability management, liquidity and cashflow management, enterprise stress testing, etc., to ensure overall risk measurement soundness. This includes collaboration with model development teams under Group Treasury, Market Risk Measurement, Liquidity & Interest Rate Risk, Enterprise Stress Testing, Scotia Economics, and technology units to ensure models and methodologies are appropriate given our overall framework and regulatory requirements. The risk categories in scope include interest rate risk, liquidity risk, credit risk, market risk, climate risk and operation risk. The incumbent will be responsible for supporting the identification and definition of the necessary policy, business, process, and system requirements, essential to meet or ensure ongoing compliance with the OSFI B12 and B15 Guidelines, and for providing expert guidance to projects and business groups. In particular, the incumbent will provide expert judgement on interpreting OSFI requirement pertaining to EWST, PPNR, SIRR, as well as liquidity requirements to internal stakeholders to ensure Bank's overall regulatory compliance in the EVE, NII, Stressed ECL, Stressed RWA process.

Is this role right for you? In this role, you will:

- Be knowledgeable and act as subject matter expertise to design and provide validation assessment framework in compliance with the existing and new regulatory requirements pertaining to the treasury areas (SIRR, ALM, Liquidity, FTP), enterprise stress testing (credit risk stress testing, liquidity stress testing, climate risk, PPNR, Industry Stress Testing), and US CECL for provisioning.




- Respond to ad hoc enquiries by providing expert guidance to group treasury and enterprise stress testing group to ensure that the interpretation of policies, standards and processes are consistent relative to the Bank's business and regulatory frameworks including the OSFI B12, OSFI B15 and related regulatory expectations.
- Assist Director to validate Treasury related models, such as asset and liability management, liquidity, retail embedded options and economic capital, and Stress Testing related models, including credit risk loss, PPNR, climate risk, etc. Review modeling processes to ensure that the models selected are appropriate.
- Ensure methodology is consistently applied across organization and appropriately refresh the evolving industry best practice.
- Conduct independent model validation, including reviewing model documentation, model programming/code, model methodology, data manipulation, model performance, etc. Build independent replication benchmark and develop validation test plan. Conduct research and develop benchmark validation techniques.
- Establish communication with model owner/developers to understand model rationale and issues; maintain relationship with key contacts as identified for each validation. Communicate findings from validation work to stakeholders. Maintain team-oriented relationships with clients and manage the project pipeline with them ensuring coming projects are identified early to allocate proper resources for validation work.
- Provide support to Director to respond to ad hoc, regulatory and audit requests. Recommend and enforce improvements to tests/methods in order to fulfill internal validation needs and to align (if applicable) with industry practices. Comply with internal policies, procedures and regulatory requirements where applicable.




- Keep abreast of industry and regulatory developments and evolving expectations.
- Responsible for maintaining and updating the model inventory system once a validation project is complete or upon any event which requires to do so (model change, model extension of use, etc.).

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:
- 5+ years of experience, preferably in risk management or banking, related policy and process teams.
- Solid knowledge of OSFI B-12 for interest rate models; OSFI B-15 for climate risk models; and Supervisory Letter SR 19-8 and Federal Reserve SR 11-7 for US CECL models.
- Strong analytical and attention to detail skills.
- Excellent communication, interpersonal and relationship building skills.
- Previous work experience in quantitative modelling is preferred.
- In all these instances, significant reliance is placed on the incumbent to communicate complex issues effectively and constructively to senior management of business lines.
- Quantitative qualification (i.e., master's degree and above in mathematics, statistics, computational/quantitative finance, etc.).
- Hands on programming skills, particularly statistical and database modeling tools (Python, SAS, MATLAB, C++). Ability to adapt to various programming languages and environments. Advanced Python proficiency would be preferred.
- Knowledge of financial risk management, especially issues and techniques pertaining to treasury risk and stress testing - including their practical implications and limitations is desirable.
- Professional designation (i.e., FRM, CFA, PRM) or equivalent designation is an asset.

What's in it for you?
- An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
- We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
- Your career matters! You will have access to career development and progression opportunities.

Location: Toronto, Ontario, Canada

Apply on Kit Job: kitjob.ca/job/2fsqlk

📌 Senior Manager, Model Validation, Global Risk Management (Toronto)
🏢 Scotiabank
📍 Toronto