Director, Head Model Validation

　　Requisition ID: 191549

　　Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

　　Purpose of Job:

　　Provides judicious direction, leadership and oversight for the Bank’s model validation and approval process in accordance with the Model Risk Management Policy.

　　Leads a team of Directors liable for managing the validation work for different types of financial and non-financial models, including coordination of models’ intake across the global footprint. Validation responsibilities cover a wide variety of models including credit, market, and liquidity risk assessment, as well as loan-loss provisioning models used in the Bank's retail and non-retail business lines as well as non-financial risk models.

　　Job Responsibilities:

　　Proactively oversees the model validation function for all models in scope of Model Risk Management Policy, ensuring that validations are conducted consistently with appropriate standards and methodologies and are executed within established timelines.

　　Provides direct leadership and oversight for initial and ongoing model validations related to market risk, including regulatory / internal capital / stress testing modeling/risk limit monitoring related to market risk and counterparty credit risk (CCR) to ensure model risk management initiatives are in compliance with regulatory requirements and internal policies/procedures.

　　Provides insights and thought leadership to the team with respect to the technical, quantitative, and subject-matter aspects of the work.

　　Works collaboratively with key multi-disciplinary stakeholders (including model developers, users, internal audit, senior management and regulatory bodies) to facilitate the validation process and resolve discussions / escalations of validation results in a timely manner.

　　Maintains effective internal communication across the Model Risk Management team as well as effective lines of communication with stakeholders and senior management, including appropriate handling of conflicts and issue resolution.

　　Proactively identifies and leads the execution of opportunities for efficiencies, automation, and improvements of Model Validation processes and overall improvements of model risk management oversight; actively assists the integration initiatives with respect to people, processes, and policies across the various work streams.

　　Leads and/or assists regulatory requests and reviews as well as large-scale projects.

　　Executes the model approval function.

　　Participates in industry forums; maintains relationships with counterparts at other financial institutions to keep abreast of industry and regulatory developments and evolving expectations.

　　Understands how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions. Ensures compliance with internal policies, procedures, and regulatory requirements, where applicable.

　　Builds a high-performance environment and implements a people strategy that attracts, retains, develops, and motivates their team by fostering an inclusive work environment, communicating vison/values/business strategy and managing succession and development planning for the team.

　　Directs day-to-day activities in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits. Communicates the Bank's risk culture and risk appetite statement throughout their teams.

　　Job Requirements:

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　　The incumbent has an advance degree (preferably Masters or PhD) in quantitative disciplines such as Mathematics, Statistics, Economics or other fields that provides excellent exposure to quantitative/statistical methods.

　　10+ years of experience in market risk modelling or other financial and non-financial risk models at a major financial institution.

　　10+ years of experience in addressing regulatory issues and developments related to f risk financial modelling.

　　10+ years of people management experience.

　　Excellent social and communication with an ability to convey complex technical issues effectively and constructively to stakeholders across business lines, and regularly to senior management

　　Forward and thinking to identify emerging regulatory/market requirements on credit risk analytics.

　　Team leadership to promote excellence in review and validation work, as well as general acceptance of and confidence in the outputs produced by the area.

　　Flexibility and creativity in problem solving, including strong abilities of innovation and path-finding.

　　Strong ability to devise and implement operational frameworks, processes, controls and documentation approaches for a team comprising of specialized quantitative staff.

　　Maintains awareness of, and involvement in, regulatory and best practice developments from a wide variety of regulatory and industry bodies worldwide.

　　Location(s): Canada : Ontario : Toronto

　　Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.

　　At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, pleaseclick here (https://www.scotiabank.com/careers/en/careers/technical-support-for-applicants.html) . Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.