Model Validation Advisor, Model Risk Management

EDC
CA - Ontario - Ottawa
December 22, 2024
Financial

Posting Date: Dec 18, 2024, 12:06:42 PM

Primary Location: Ontario-Ottawa

Job Type: Contract

Schedule: Full-time

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC offers financial products and knowledge to help Canadian businesses confidently enter new markets, reduce financial risk, and grow their business.

When you join our team, you'll be helping Canadian businesses learn the endless possibilities that open to them through export and help bring their vision, passion, and innovation to the world. Your knowledge and expertise will support more than 25,000 Canadian businesses and their customers in as many as 200 markets worldwide.

Are you ready to make an impact? Join EDC, recognized as a Top 100 and Top Family-Friendly Employer, as we take on the risk so Canadian businesses can take on the world. #LI-Hybrid

Team & Job Overview

EDC is seeking a Model Validation Advisor to join the Model Risk Management team. The team is accountable for developing, maintaining, and improving the model risk management program at EDC.

Reporting to the Manager, Model Risk Management, the Model Validation Advisor will primarily be focused on conducting independent end-to-end validation of a variety of Models used across the company. This role also requires communication and interpersonal skills to engage and consult with business areas to find solutions adapted to EDC's size, complexity, and specific mandate.

Discipline Summary

The role focuses on:

Overseeing, conducting or advising on independent Model Validation;
Developing Model Validation plans and carrying out the requisite activities;
Preparing Model Validation reports;
Researching and reviewing external best practices and regulatory requirements to provide guidance on EDC's Model Risk;
Maintaining and implementing principles, practices, processes, and standards pertaining to EDC's Model Governance Framework.

Key Responsibilities

Develops understanding of the business, the business area and function that uses the Model, and the impact of the Model output on the business decisions.
Manages stakeholder relationships to ensure Model Validation findings and recommendations are appropriately informed by business purpose and context following a risk-based approach.
Ensures Model Validation activities are in compliance with the Model Risk Policy, standards, and guidelines.
Prepares Model Validation reports that detail the validation scope, testing approach, test results, findings, and conclusions.
Engages Model Owners and Users to proactively identify, assess, monitor, and manage Model Risk.

Screening Criteria

Undergraduate degree in Statistics, Actuarial Sciences, Mathematics, Computer Science, Finance within a quantitative discipline or related;
Knowledge of, and/or experience in at least one of the domains:
Insurance pricing and reserving;
PD, LGD and scoring models;
Expected Credit Losses models;
Econometrics and economic forecasting;
Asset and portfolio management modeling;
Reserving, profitability, capital, forecasting, and stress testing.
Strong foundation in applied probabilistic modeling, time series analysis and statistical inference.
Proficiency with SAS and/or other data software like R or C/C++/C#, Python, MATLAB, Database (Oracle, SQL etc.)
Model validation experience.

For Level 17 Advisor role:

Minimum of 5 years of experience in model risk management or related experience
Working knowledge of model risk management principles and practices

Assets

Bilingual in both official languages (French and English).
Professional designations such as Fellow of the Actuarial Society, Financial/Professional Risk Manager, Accounting designations.
A graduate degree in a quantitative discipline (e.g. Applied/Actuarial Mathematics/Statistics/Finance).
Credit risk management experience, preferably in a financial services and/or Crown corporation environment.
Knowledge or experience in modeling practices related to IFRS 9 and/or IFRS 17 regulations.
Advanced programming knowledge and experience in the management and manipulation of large and complex data files (MS-Excel, R, VBA, SAS/SQL, Python, etc.).
Advanced knowledge of statistical techniques, data mining, predictive modeling, and/or machine learning algorithms and interpretation.
Demonstrated ability to adapt to changing priorities.

Compensation Details:

Quantitative Analyst 17: Salaries typically range from $81,012 to $108,017 annually, based on qualifications and experiences.

Location

Export Development Canada is a hybrid work environment.
This role may be performed from EDC's headquarters in Ottawa, or from the Community Hub in Toronto or Montreal.

EDC's Commitment to Employment Equity

EDC is committed to employment equity and achieving a diverse workforce. EDC actively encourages applications from women, Aboriginal peoples, visible minorities, persons with disabilities and members of the 2SLGBTQI+ community. If selected for an interview, please advise us if you need any special accommodation.

How to apply

Only candidates selected for an interview will be contacted.Application deadline : Jan 10, 2025, 10:59:00 PM

Candidates must meet the requisite government security screening requirements.

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Read the full job description and apply online on the recuiter's web-site

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