Title:  Manager, Model Validation

Requisition ID: 246471  

Employee Referral Program – Potential Reward: $0.00 

We are committed to investing in our employees and helping you continue your career at ScotiaGBS
 

Purpose

The Global Model Risk Management area provides independent and consistent model validation and approval across various risk types, including market risk, retail/non-retail credit risk, operational risk, capital models, Anti Money Laundering (AML) and other key risk/financial models. 

The manager provides support to the Senior Manager in the validation of models and strategies, which may include Canadian and International retail/non-retail credit adjudication and behavior, credit retail strategies, AML, Fraud, or Market Risk Capital. This position entitles activities related to model validation work including data management and model quality assurance testing/validation to establish overall soundness of the risk measurement, delivery of various ad-hoc validation assignments, collaboration with the model development teams and business lines, and communicating results to model owners ensuring compliance with internal framework and regulatory requirements. He/she may also communicate and negotiate with the different counterparties regarding issues identified during the validation. 

Accountabilities

(Applicable across Credit Risk, AML/Financial Crime, Fraud and Market & Counterparty Risk Capital)

•    Plan and execute validations (supporting the Senior Manager/Director and/or independently) for models and strategies across one or more risk domains, which may include:
Retail/non‑retail credit adjudication and behaviour, retail credit strategies (adjudication, behaviour, collections), AML models (e.g., transaction monitoring, customer/client risk rating, screening), Fraud, market risk and counterparty credit risk capital models, stress testing, and trade surveillance.
•    Define the validation scope and framework for each assignment, including objectives, uses/limitations, regulatory context, testing strategy, success criteria, and materiality thresholds.
•    Perform detailed quantitative and technical assessments, including:
o    Data: input data quality, lineage, representativeness, stability, and bias assessment.
o    Conceptual soundness: model design, assumptions, segmentation, variable selection/feature engineering, and reasonableness of methodology.
o    Implementation verification: code/configuration review, architecture and control assessment (versioning, access, change management), and benchmark/replication testing.
o    Performance testing: discrimination, calibration, stability/PSI, back‑testing, sensitivity/what‑if analysis, stress/scenario analysis, and (where relevant) P&L attribution/CCR exposure checks or AML detection efficacy.
•    Execute independent calculations and programming to reproduce and analyze model behaviour and performance; design and automate validation tests and analytics as appropriate.
•    Formulate clear recommendations to remediate issues and enhance models, data pipelines, implementation controls, monitoring, and/or development processes; assess materiality and prioritize actions.
•    Produce and maintain validation deliverables: draft/final validation reports, issue logs, model risk ratings, executive summaries, workpapers, and supporting documentation; ensure accuracy, traceability, and completeness for independent review.
•    Communicate findings effectively to stakeholders (model owners, developers, business, risk, technology, audit), present conclusions, negotiate remediation plans/timelines, and maintain collaborative relationships throughout the validation lifecycle.
•    Governance and compliance: operate in alignment with internal Model Risk Management policies, standards, and applicable regulatory/supervisory expectations (e.g., SR 11‑7, OSFI/BCBS guidance, AMLD/FATF), as relevant to the model’s domain and jurisdiction.
•    Inventory & lifecycle management: support keeping the model inventory current; track validation schedules, approvals, issue statuses, conditions, and periodic review requirements.

•    Regulatory and audit support: provide timely, direct support to address audits/examinations, resolve outstanding issues, and respond to ad hoc requests from Senior Management, Audit, and Regulators.
•    Methodology advancement and standardization: research and develop new validation techniques, enhance test libraries, templates, and frameworks, and align practices with evolving industry standards.
•    Continuous monitoring support: advise on performance metrics, thresholds, alerts/triggers, change‑impact assessments, and annual/periodic reviews.
•    Stakeholder management and risk culture: build strong relationships with key contacts for each validation, promote a sound model risk culture, and drive constructive challenge.

Experience:

•    2+ year of experience in the data management or data architect, with familiarity and comfort in handling large data
•    2+ year of experience in the development and/or validation of credit risk or AML models is desirable.
•    Exposure or experience in other risk functions such as credit risk, AML, market risk, or operational risk management also desirable.  

Required Functional (Technical) Competencies:    

•    Sound understanding of various modelling techniques and comfortable to conduct various testing independently
•    Strong knowledge of statistical techniques and proven ability to employ these to analyze large sets of data 
•    Ability to effectively utilize relational database and SQL queries for data analysis.
•    Proficiency in construction and executing distributed queries from a variety of databases/sources is required
•    Excellent verbal and written communication skills.
•    Hands on programming skills, particularly statistical and database modeling tools (SQL, SAS, R, Python VBA, MATLAB, Angoss Knowledge Studio or similar). Ability to adapt to various programming languages and environments.
•    Experience in Oracle Mantas AML solutions or knowledge of AML models and tools would be an asset
•    Knowledge of financial risk management, especially issues and techniques pertaining to credit risk management – including their practical implications and limitations is desirable.
•    Excellent verbal and written communication skills
•    Ability to speak and write in English would be desirable.

Location(s):  Colombia : Bogota : Bogota 

Scotia GBS is a Scotiabank Group company located in Bogota, Colombia created to support different processes of the Bank and the development and execution of its global services strategy in 15 countries in the Americas. It is composed of 7 service units. We offer an inclusive, positive work environment, and competitive benefits.

At ScotiaGBS, 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. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at ScotiaGBS; however, only those candidates who are selected for an interview will be contacted.