Senior Manager, E-23 Model Risk Management

Requisition ID: 216318

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

This is a 12 month contract oportunity.

The Senior Manager, E-23 Model Risk Management will be a key resource in supporting the Bank’s Model Modernization Program under the Project 1 and Data Driven Decision Making initiatives.

The role will provide strategic, analytic, and project management support to the Director, Strategic Projects & Model Frameworks & Director, Model Risk Governance, in executing enterprise initiatives geared towards modernizing model management operations and E-23 change management.

Initiatives will be critical to improving operational economy and efficiency and meeting regulatory requirements and have a high degree of executive sponsorship and exposure, and include:

E23 Roadmap through F24/25:

• Support the design, implementation, and on-going change management of OSFI’s revised E23 Model Risk Management Guideline (Summer 2025), including:
  • socializing the revised Guideline across the Bank, identifying and onboarding net new model stakeholders, and defining and implementing a change management Roadmap.
  • working with external consultants and internal partners to revise the Bank’s model framework of policies, procedures, and guidelines.
  • benchmarking operations through the model lifecycle and estimating the impact of changes in practice.
  • operationalizing updated model management structure into practice through a formal transformation program, including model stakeholder training and education, developing technical specifications for automating governance structure in a model management platform, and updating leadership on program progress.

Other Model Modernization Initiatives:

• Providing advice and counsel and effective challenge to enterprise model stakeholders regarding model operations to ensure adherence to and effectiveness of model risk operations to meet internal audit and regulatory compliance standards, and efficiency and effectiveness business targets.
• Reviewing outstanding controls and reporting issues, performing analysis to identify themes, determining the root cause of operational weaknesses, preparing dashboards and reports to communicate the current state of model management operations.
• Improving efficiencies in model operations through the model lifecycle and working closely with international subsidiaries to create divisional synergies and ensure best model risk management practices are in place.

The role requires an understanding of risk modeling and statistical tools and methodologies to be able to speak with various model stakeholders and have the foundational knowledge to evaluate operational processes, generate ideas, and implement solutions to improve economy, effectiveness, and strategic insights in all aspects of model management. Moreover, a strong understanding of regional banking practice and cultural awareness is key as the role requires close interaction with global model teams and the ability to leverage partnerships across the organization to collaboratively understand Bank and departmental objectives and identify opportunities to continuously enhance model operations.

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

• Support a dedicated project team whose mandate is to design, implement and provide ongoing oversight of a new E23 Compliant Model and AI Risk Management Framework (M&AIRMF) which meets regulatory standards, enhances operational efficiency and effectiveness, and provides business requirements for downstream model modernization (cloud-based model platform).
• Understand how the Bank’s risk appetite and risk culture should be considered in re-designing an MRMF and the day-to-day activities and decisions which go with its operationalization.
• Build collaborative and strategic partnerships with all enterprise model stakeholders to ensure adequate implementation of revised MRMF into practice to meet regulatory requirements and deliver on operational targets.
• Lead the design of tools to conduct gap analysis of model inventory and processes vs. regulatory standards and facilitate model management for new and existing model owners.
• Lead the design of new model dashboards with KPIs and KRIs specific to measuring evolving operational efficiency and effectiveness.
• Leverage outputs of tools and dashboards to identify MRM guidelines, policies, procedures, and practices to be updated and co-author changes with model governance and consulting partners.
• Design and maintain specific training of model stakeholders to new M&AIRMF governance operating model.
• Leverage E23 Roadmap, and experience to support interconnected, enterprise-wide AI/ML, Data, and cloud-based model platform modernization programs.
• Support specification of requirements to implement revised E23 compliance governance framework into SAS model management platform.

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

• Under-graduate / graduate degree in Finance, Statistics, Economics, Business, or related field.
• Minimum 5 years of experience in an analytic role, including managing large projects, diverse teams, and portfolio performance across international retail banking portfolios
• Spanish speaking is an asset.
• Strong knowledge of risks (inherent and residual) impacting banking and model risk.
• Strong analytical, data mining and visualization (Excel, PowerPoint, Power BI, SAS, R or Python), problem-solving and organizational skills.
• Solid communication skills (verbal and written), with ability to communicate complex conceptual topics with enterprise stakeholders from manager to executive level.
• Proactive, self-directed, and able to work independently as well as collaboratively in a team.
• Excellent people skills are required to foster a positive work environment that values teamwork and provides a productive, enjoyable, and satisfying experience for all.
• Highly flexible, detail oriented and creative; able to cope with changing priorities and to multi-task under tight deadlines and deliver with a great amount of accuracy and completeness.
• Project management skills to prioritize, manage and implement a variety of competing initiatives on a concurrent or staggered basis.

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.