The TMX Group Model Validation Department provides independent, objective validation and an effective challenge of risk models and non-models—primarily for Post Trade (CDS and CDCC) subsidiaries of TMX Group.

Model

Validation is a core element of the Model Risk Management framework and an essential piece to ensure compliance with regulatory requirements around independent validation of risk models and non-models. It assists the organization to accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the organization’s governance and risk management.

The Senior

Analyst, Model Validation performs quantitative and qualitative validation of models and non-models developed to assess and analyze market, credit, liquidity, and financial risks. As a member of the independent Model Validation team, you are responsible for validating the soundness of TMX Group subsidiaries’ risk models. You will provide expertise and advice regarding advanced modelling techniques and applications, ensuring that model methodology and implementation meet regulatory requirements and internal policies.

Work Location: Hybrid (2-3 days/week in the office). Candidates may be located in one of our Canadian office locations: Model Assessment: Assess model and non-model soundness and risk from technical and functional perspectives, evaluating conceptual soundness, performance, and ongoing monitoring. Build financial, risk, pricing, econometric, and forecasting models to benchmark or replicate the results of models being validated.

Risk Mitigation:



Make rigorous and balanced decisions on complex issues and provide expertise to ensure TMX Group’s entities are not at undue risk.

Project Leadership: Participate in projects to identify key model risks and controls and assess the soundness of the modelling environment. Carry out the validation of Post Trade’s new risk system‑related models and non-models.

Policy Development: Participate in the development and update of the Models and Non‑Model Risk Policy and methodology. Prepare validation reports and presentations for regulators and executive risk committees. Coordinate work plans and collaborate with internal stakeholders to ensure reviews and monitoring are completed as planned.

Continuous Improvement: Ensure programs are consistent with worldwide best practices and contribute to the legal and risk department's efficiency. Master’s degree in Finance, Statistics, Mathematics, Economics, or other quantitative fields.

Technical Proficiency: Advanced knowledge of programming tools such as Python and/or Matlab. High‑Performance Execution: Proven ability to manage multiple projects and priorities concurrently in a rapid‑paced setting. Knowledge of SQL, VBA, Power BI, or Tableau. Knowledge of regulatory requirements such as PFMI, OSFI, or EMIR Guidelines.

Salary Range: 100,000/year - 130,000/year CAD. Please note that our company is not currently sponsoring work permit applications and the applicant must be authorized to work in the country where this position is located. TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate.

📌 Senior Analyst, Quantitative Model Validation (Model Vetting) (Montreal)
🏢 TMX Group
📍 Montreal