Title:  Manager, Model Validation & Approval (6 Month Contract)

Requisition ID: 264936 

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

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, provisioning and capital models, anti-money laundering, and other key risk/financial models.

The Manager provides support to Senior Manager and plays a key part in ensuring the sound development and ongoing performance of the IFRS 9 provisioning models used in the Bank’s retail and non-retail business lines. This position entitles activities related to model validation work to establish overall soundness of the credit risk measurement, delivery of various ad-hoc validation assignments, and collaboration/communication with the model development teams and business lines to ensure model development methodologies and validation processes follow internal framework and regulatory requirements.

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

• Conduct independent validation of IFRS 9 provisioning models (PD, LGD, EAD, Lifetime, SICR) across multiple business lines
• Assess model methodologies, assumptions, and outputs, including forward-looking macroeconomic components
• Perform detailed data reviews, including replication of key data transformations and validation of data integrity
• Evaluate model performance using quantitative testing, benchmarking, and sensitivity analysis
• Identify model limitations and provide actionable recommendations to improve model design and performance
• Prepare high-quality validation reports and supporting documentation for internal and external review
• Support audit and regulatory interactions, including addressing findings and responding to inquiries
• Oversee model risk rating assessments and maintain IFRS 9 model inventory governance (updates, recalibrations, decommissioning)
• Drive continuous improvement in validation methodologies, tools, and automation initiatives
• Collaborate cross-functionally with model development, risk, audit, and business teams
• A role where you can directly influence model risk management practices across the organization

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

• Graduate degree (Master’s or PhD preferred) in a quantitative field (e.g., Statistics, Mathematics, Finance, Engineering)
• 1+ years of experience in credit risk model development or validation within a financial institution
• Exposure to retail/small business/non-retail credit risk management applications and practices preferred.
• Exposure to IFRS 9/ AIRB related credit risk management and quantification preferred.
• Strong programming skills in Python, SAS, R, or MATLAB (Python preferred)
• Solid understanding of statistical modelling, data analysis, and large dataset manipulation
• Experience evaluating model assumptions, performance, and limitations using quantitative techniques
• Proven ability to communicate complex technical concepts to both technical and non-technical audiences
• Experience interacting with audit or regulatory stakeholders is an asset
• Professional certifications (FRM, CFA, CQF, MBA) are considered 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.