Compliance Analyst supporting regulatory compliance and risk management in Canadian wealth management. Analyzing data and collaborating with business units to uphold compliance standards.
About the role
- Model Validation Analyst validating mathematical models in the banking sector. Engaging with internal and external teams to assess model accuracy and compliance.
Responsibilities
- Perform validation of all models deemed in-scope by the bank-wide Model Risk Policy.
- Develop independent benchmarks for use in the validation of models.
- Assess the appropriateness, reasonableness of model assumptions, and accuracy of model implementation.
- Prepare detailed reports describing the mathematical analytics of the model, validation techniques employed, test results obtained, and any model limitations noted.
- Prepare Management summaries highlighting the outcome of the validation process for each model and outlining recommendations for approval or further improvements.
- Establish and maintain productive working relations with internal model development groups and external vendors.
- Identify the need to implement new models/techniques for risk management as industry standards evolve and regulatory requirements change.
Requirements
- Strong statistical background and excellent analytical and problem solving skills with a graduate degree in one or more of the following areas: statistics, economics, finance, mathematics, computer science and engineering.
- 3-5 years of experience with model development/validation, including machine learning models, dealing with PPNR stress testing, scorecard and/or capital models
- Hands-on experience with relevant programming languages, such as Python, SAS, R is a must
- Knowledge in retail banking products, customer behaviours, and macroeconomic impacts is a definite asset
- Excellent verbal and written communication skills
- Good time management and multitasking skills
- Quick learner who grasps new concepts and techniques quickly
- Must be a good team player
Benefits
- health and well-being benefits
- savings and retirement programs
- paid time off
- banking benefits and discounts
- career development
- reward and recognition programs
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