Title:  Director, Regulatory Capital Models, Internal Ratings Management

Requisition ID: 257208 

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

The Director leads and manages a team responsible for new initiatives and special projects including developing capital models for conversion of portfolios from Standardized Approach to Internal Rating Based (IRB) approach.

Internal Ratings Management (IRM) is responsible to:

• Design, select, implement, maintain, review, provide user support for, and ensure performance of Business Banking IRB models i.e., Borrower Risk Rating, Probability of Default (PD), Loss-Given-Default (LGD), and Exposure-At-Default (EAD).   
• Ensure ongoing compliance with OSFI requirements with respect to Business Banking IRB models.
• Manage operations of CreditLens and Problem Loan Data Capture (PLDC) IT systems.
• Provide input and support for meeting compliance requirements of local regulators of BNS subsidiaries and branches.
• Provide quantitative input and support to internal teams for measurement, management, and reporting of Credit Risk.

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

1. Design and develop models for Business Banking Rating models and IRB parameters of PD, LGD, and EAD

• Oversee research and analysis of regulatory requirements and industry practices to identify applicable methodologies and statistical techniques appropriate for assigning ratings and estimating parameters. Design the monitoring framework for the developed models.

1. Process maintenance

• Manage a large number of processes which require:

• development of the scripts and processes for running the code, including appropriate change management
• ensuring that processes follow good practices and are compliant
• documenting the process flows and procedures

1. Keep abreast of the regulatory requirements and industry best practices

• Participate in relevant industry forums and strive to continuously innovate and improve the processes.

1. Relationship Management

• Maintain a solid working relationship with teams within IRM:
• Data Management
• Model Development
• Rating Models User Support

Maintain a solid working relationship with relevant BNS groups:

• Finance Capital Management
• Enterprise Risk

Keep various internal stakeholders apprised and onboard with initiatives, including

• Senior and Executive Management
• RRGC (Risk Rating Governance Committee)

Ensure compliance with various governance agents such as

• OSFI and other regulators
• Internal and External Audit
• Model Validation and Approval

1. Leadership

• The holder of this position will manage a team of 4 FTEs/contractors:

• Define clear roles and expectations, including timelines
• Create an environment in which the team pursues effective and efficient operations of their respective areas in accordance with Scotiabank’s Values and Code of Conduct.
• Implement a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviors;

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• A graduate degree (or equivalent) that provides exposure to quantitative and statistical methods.
• 7+ years of experience in model building, risk quantification and parameter estimation work at a major financial institution.
• 5+ years of people management experience.
• Expert knowledge of Credit Risk parameter modelling theories, research, applications and regulatory requirements/advisories - including their business implications and limitations. In-depth knowledge of highly complex mathematical concepts related to stochastically driven processes and significant driver analysis.
• Sound understanding of the risk rating & credit adjudication process conducted by the various banking and credit teams, together with thorough knowledge of the types of business conducted by these teams.
• Advanced computer skills and experience in manipulating large volumes of data and building End-User-Computing solutions. Expertise in SQL, Python.
• Strong written and presentation skills to discuss findings, make recommendations, and provide insightful viewpoints to Executive and Senior Management and internal users of model outputs; to liaise with industry participants and other external parties; to provide overviews to regulators and internal and external auditors.
• Self-driven individual with demonstrated ability to lead multiple initiatives and projects and to successfully manage people.
• Forward and independent thinking to identify emerging regulatory and market requirements on credit risk analytics.
• 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 highly specialized technical skills.

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.