Title:  Senior Manager, Global Model Risk Management

Requisition ID: 236388

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

As a critical member of the Global Model Risk Management team, the incumbent will support initial and ongoing compliance with OSFI’s Capital Adequacy Requirements (CAR) Guidelines and the Basel Capital Framework on a Group-wide basis. This includes maintaining current knowledge of regulatory expectations and other standards along with emerging industry practices, monitoring progress in relation to achieving and/or complying with the CAR Guidelines (including gap closure activities).

The risk categories in scope include credit risk and operational risk. The incumbent will be responsible for supporting the identification and definition of the necessary policy, business, process, and system requirements essential to meet or ensure ongoing compliance with the OSFI CAR Guidelines, and for providing expert guidance to projects and business groups. In particular, the incumbent will provide expert judgement on interpreting OSFI CAR guidelines pertaining to advanced capital models, as well as standardized capital calculation processes to internal stakeholders to ensure Bank’s overall regulatory compliance in capital calculation process.

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

• Review and confirm that the existing inventory of OSFI capital calculation process in credit and operational risk continues to adhere to all applicable OSFI CAR guideline requirements.
• Develop and maintain the assessment framework of the standardized components of the CAR guidelines and conduct regular assessments with stakeholders in different areas of the Bank.
• Maintain a current understanding of global regulatory expectations for the Basel Capital Framework, industry practices, the Bank’s business and regulatory frameworks including the Basel Framework and related regulatory expectations.
• Provide oversight and interpretation for CAR guideline gap closure process for new capital calculation applications and material modification to existing applications, ensuring that projects are executed in accordance with plans, ensuring that key issues are identified and escalated for resolution, interdependence between projects are identified and agreed, and critical paths identified and tracked. 
• Identify any required changes to policies, business process, and system requirements for risk management to meet OSFI’s CAR Guidelines. 
• Liaise with responsible parties to ensure that documentation is developed during the course of any capital calculation project work to support the closure of gaps between regulatory expectations and current practice. 
• Coordinate with Finance, IT, Model Development, Validation, and Internal Audit to ensure that documentation is complete and sufficient to meet expectations in supporting an opinion of compliance with the CAR Guidelines requirements.
• Respond to ad hoc enquiries by providing expert guidance to business groups to ensure that the interpretation of policies, standards and processes are consistent relative to the Bank’s business and regulatory frameworks including the Basel Framework and related regulatory expectations.

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

• 5+ years of experience, preferably in risk management or banking, related policy and process teams.
• Solid knowledge of OSFI’s CAR Guidelines, risk management policies and procedures.  
• Strong analytical and attention to detail skills.
• Excellent communication, interpersonal and relationship-building skills.
• Previous work experience in quantitative modelling is preferred.
• In all these instances, significant reliance is placed on the incumbent to communicate complex issues effectively and constructively to senior management of business lines.
• MBA, CPA, FRM or equivalent designation is an asset.

What's in it for you?

• We have an inclusive and collaborative work environment that values curiosity & ownership, encourages pragmatic creativity (i.e. true innovation), and celebrates success!
• An inclusive working environment that encourages creativity, curiosity, and celebrates success!
• A rewarding career path with diverse opportunities for professional development
• Internal training to support your growth and enhance your skills
• A competitive rewards package that includes a base salary, a performance bonus, company matching programs on pension and profit sharing, paid vacation, personal & sick days, medical, vision and dental benefits that start from day one and much more!

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.