Manager, Model Validation

About the role

The Manager, Model Validation reports to the Director, Model Risk Management and delivers model validation across the bank. The role executes validation procedures, contributes to validation strategies and supports model risk management under the bank's Model Risk Management Framework and regulatory requirements. It covers credit and treasury risk models, including AIRB and IFRS 9 ECL, interest rate risk, liquidity risk and stress testing for ICAAP. About 85% of the work is hands-on validation, with about 15% supporting model governance such as regulatory self-assessments, annual attestations and risk reporting.

Key responsibilities

• Contribute to validation strategies and maintain validation plans for assigned reviews
• Assess whether model frameworks fit their current or planned use, including assumptions, methodology, data and system implementation
• Review modeling data from extraction through preparation, cleansing and treatment
• Run and document model testing: outcome analysis, sensitivity analysis, scenario analysis, stress testing, benchmark analysis, implementation review and user acceptance testing
• Write clear, supported validation reports, identify model limitations and weaknesses, and define the effective range of model use
• Maintain open communication with model risk stakeholders and escalate complex issues to the Director
• Ensure model metadata is captured and tracked in the model risk management system, and contribute to annual attestations and risk reporting
• Share knowledge of industry trends and regulatory expectations, give independent feedback to model developers, and support stakeholders in meeting their model risk responsibilities

Required profile

• Master's degree or higher in Mathematics, Mathematical Finance, Statistics, Physics, Engineering, Economics or an equivalent quantitative discipline
• At least 3 years of experience (5 years preferred) in quantitative modeling and/or model validation in finance
• Experience in financial services or another highly regulated environment strongly preferred
• Strong understanding of model risk management, governance and risk management principles
• Excellent analytical, problem-solving, project management, documentation and communication skills

Required skills

• Programming languages such as Python, R, SAS, C++, C#, Java and MATLAB
• Technical documentation and report writing