Title:  Manager, IFRS9 Modelling, Enterprise Stress Testing

Requisition ID: 261071 

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

Enterprise Stress Testing’s (“EST”) mandate is to design and run the Bank’s stress testing program. We need a strong individual to help with credit risk stress testing of the Bank’s retail portfolio. You will get the opportunities to apply your technical skillset and analytical mindset in building credit risk models and providing stress testing insights across geographies and products. This role has the potential for direct impact on business strategy with stress testing as a decision-making tool by senior management in Global Risk Management as well as Finance executives and the Board.

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

• Model Development: Design and develop credit risk stress testing models that forecast credit quality migration under stressed macroeconomic conditions for retail portfolio. This involves models for PD, downgrade rates, and LGD.
• Stress Test Implementation: Apply these models to generate stress testing results – including ECL, PCL, and RWA – under various macroeconomic scenarios. Continuously optimize code repositories to ensure efficiency, accuracy, and production-readiness.
• Result Analysis and Reporting: Conduct detailed analysis to validate the accuracy and explainability of model outputs. Develop robust data visualization tools and standards to support complex scenario analysis. Prepare and deliver stress testing reports to internal stakeholders and external regulators, including OSFI.
• Emerging Risk Analysis: Perform supplementary analyses and develop methodologies to address emerging risk themes such as climate change, geopolitical instability, elevated consumer indebtedness, and housing market pressures etc.
• Cross-Functional Collaboration: Collaborate with model validation, internal audit, and other model development teams (e.g., AIRB, IFRS 9, Capital Management) to ensure alignment with industry best practices and maintain model compatibility and compliance across frameworks.

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

• Advanced degree in Statistics, Economics, Finance, Mathematics, Data Science, or a related quantitative discipline.
• Proven expertise in quantitative modeling, including statistical analysis, econometrics, machine learning, and data science techniques.
• Proficiency in Python is required; experience with Spark is considered an asset.
• Familiarity with Linux or UNIX systems and version control tools such as Git or Bitbucket is advantageous.
• Demonstrated experience working with large and complex datasets and optimizing code for performance and scalability.
• Hands-on experience in credit risk modeling, particularly related to Probability of Default (PD) and/or Loss Given Default (LGD).
• Exposure to stress testing frameworks and methodologies is desirable.
• Strong communication skills, with the ability to convey complex analytical insights to diverse audiences.
• Solid understanding of banking financial statements, retail credit products, and credit risk modelling.
• Working knowledge of Risk-Weighted Assets (RWA) and Basel capital requirements is an asset.
• Experience leading or contributing to transformational projects.
• Track record of presenting analytical findings and business insights effectively.

What’s in it for you?

• The opportunity to join a forward-thinking company surrounded by a collaborative team of innovative thinkers.
• A rewarding career path with diverse opportunities for professional development. This position will have exposure to multiple aspects of the bank’s financial profile, such as balance sheet growth, provisions for credit losses and capital adequacy assessment.
• Becoming a subject matter expert and storyteller for our Canadian retail portfolio, in terms of how the stress testing process works and what drives the portfolio’s credit loss
• A competitive compensation and benefits package.
• An organization committed to making a difference in our communities– for you and our customers.
• We have an inclusive and collaborative working environment that encourages creativity, curiosity, and celebrates success!

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.