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Title:  Senior Manager, AML Model Validation






Requisition ID: 67366


Join the Global Community of Scotiabankers to help customers become better off.


Job Summary


The Model Validation & Approval 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, AML and other key risk/financial models. The Senior Manager provides support and execution within AML Model Validation team to ensure that Scotiabank is maintaining ongoing effectiveness of the AML model validation program.  The incumbent will be independently executing data management and model quality assurance testing/validation work according to the AML model validation frameworks. The candidates will provide continuous support to the department by implementing successful AML model validation strategies within the bank


Key Accountabilities

  • Perform independent validation of AML models across the enterprise, including the vertical functions of (but not limited to), transaction monitoring, client risk rating, sanction screening, watch list, etc.
  • Support Director to develop and create AML model validation plans and reports.
  • Deliver validation work assignments according to work plan; determine and execute data verification and quality assurance assessments and model implementation tests; identify material improvement opportunities in the model inputs being validated.
  • Review and provide opinions on the soundness and use of the model; develop thorough model validation reports. Prepare all necessary documentation related to validation assignments; ensure accuracy and completeness of archived information and related documentation to allow independent third party review of the validation work performed.
  • Provide AML subject matter advisory support to all work streams as needed.
  • Assist Director to provide guidance to junior staff, as needed, and conduct verification on the deliverables before submission.
  • Develop and maintain work relationship with key counterparts and stakeholders as identified for each validation request. 
  • Comply with internal policies, procedures and regulatory requirements where applicable.
  • Provide active and direct support to resolve outstanding audit and regulatory issues and to respond to ad hoc senior management and regulatory requests.
  • Keep abreast of changes in AML related regulatory requirements and evolving expectations within the industry; provide ongoing peer benchmarking support.


Functional Competencies

  • 2+ year of experience in the data management or data architect, with familiarity and be comfortable to handle large data
  • 2+ year of experience in model development and/or validation
  • Working knowledge and exposure of AML related regulatory requirements are preferred.


Required Functional (Technical) Competencies: 

  • Ability to effectively utilize relational databases for data analysis and write complex SQL queries.
  • Proficiency in constructing and executing distributed queries from a variety of databases/sources is required.
  • Strong experience or background in data analysis and statistical techniques; proven ability to employ these to analyze large sets of data.
  • Strong proficient in programming language, such as SQL, SAS, R, Python, VBA, MATLAB, etc.
  • Experience with Oracle Mantas AML solutions will be an asset.
  • Strong knowledge of the AML regulatory landscape, specifically with respect to AML models and tools.


Behavioural Competencies:         

  • Effective time management in order to efficiently deliver concurrent projects with competing priorities.
  • Ability to work independently as well as a team player to deliver work assignments.
  • Constructive conflict management ability; ability to collaborate effectively with counterparts and stakeholders.
  • Effective presentation and communication skills; Strong written skill is essential.
  • Ability to manage efficiently multiple priorities.
  • Attention to details, independence, and ability to effectively collaborate in teamwork.
  • Flexibility and creativity in problem solving.


Education Requirements:

  • Advanced degree in quantitative disciplines such as Statistics, Mathematics, Economics, Engineering, Computer Science.
  • Certified Anti-Money Laundering (CAMS) designation is an asset.




Location(s):  Canada : Ontario : Toronto 

As Canada's International Bank, we are a diverse and global team. We speak more than 100 languages with backgrounds from more than 120 countries. 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.

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