Manager, Model Development, Internal Ratings Management (12 month contract)

Requisition ID: 216835

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

Internal Ratings Management (IRM) is responsible for:

• Designing, selecting, implementing, maintaining, reviewing, providing user support for, and ensure the performance of
  • Business Banking AIRB models i.e. Borrower Risk Rating, Probability of Default (PD), Loss-Given-Default (LGD), and Exposure-At-Default (EAD).
  • Business Banking IFRS9 Expected Credit Loss (ECL) models.
• Ensuring ongoing compliance with OSFI requirements with respect to Business Banking AIRB models, and  Business Banking  IFRS9 ECL models.
• Providing input and support for responding to questions from local regulators of BNS subsidiaries and branches.
• Providing quantitative input and support to internal teams for measurement, management, and reporting of Credit Risk.

The Manager, Model Development is responsible for developing models for Business Banking AIRB PD/LGD/EAD models.

Is this role right for you? In this role, you will:

• Design and implement models for Business Banking AIRB PD/LGD/EAD models
  • Develop, implement, and maintain risk quantification methodologies for Business Banking credit risk parameters such as PD, LGD and EAD.
  • Perform research and analysis of applicable methodologies; present and recommend appropriate alternatives; test and implement modelling methodologies.
  • Benchmark internal results with external models or data sources; provide analysis and recommend actions as appropriate.
  • Implement and maintain a rigorous framework of internal controls and comprehensive documentation for various applications and databases used in parameter estimation models.
  • Ensuring effective and efficient communications with Credit and Banking groups and other relevant stakeholders during the model development process
• Develop and maintain sound methodology for monitoring model performance, which allows us to identify problematic models promptly to ensure timely recalibration of models and better serve business needs.
• Develop and maintain model documentations for Business Banking AIRB PD/LGD/EAD models.
• Provide ongoing support to users.
  • Acting as a trusted advisor to identify, diagnose, and solve problems related to Business Banking AIRB models
  • Providing model analytical and technical support as needed

• Maintain a productive working relationship with teams within BNS groups:​​​​​​​
  • GBM, CCB, and International Banking and GRM Credit groups
  • Enterprise Risk
  • Senior and Executive Management
  • RRGC (Risk Rating Governance Committee)
  • Finance
• Ensure compliance with various governance agents such as OSFI and other regulators, Internal Audit, and Model Validation and Approval

Do you have the skills that will enable you to succeed? We’d love to work with you if you have:

• Minimum Master’s degree or equivalent in a quantitative discipline—science, technology, engineering or mathematics, or quantitative finance.
• 3 or more years of experience in a professional role with analytical, recommending and reporting disciplines is preferred.
• Experience with building models for compliance with government regulation.
• Experience with the development of system/data requirements in a risk-assessment or similar framework
• Knowledge of, or experience with, regulatory requirements and their impacts.
• Capable of clearly understanding and articulating model design, model assumption, and model results.
• Strong data manipulation/diagnostic skills and analytical/problem-solving skills, with knowledge in Python. Familiar with Git for version control.
• Excellent technical writing skills.
• Direct experience as a user or developer of credit risk models is preferred.
• Familiarity with government regulations and documentation is preferred.
• Basic knowledge of modern machine-learning algorithms is an asset.

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

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, please click here. 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.