Manager, Model Validation

Requisition ID: 215734 Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture. **Purpose** 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, capital models, Anti Money Laundering (AML) and other key risk/financial models. The manager provides support to senior manager in the validation of Canadian and International retail/non-retail credit adjudication and behavior models, credit retail strategies, as well as AML. This position entitles activities related to model validation work including data management and model quality assurance testing/validation to establish overall soundness of the credit risk measurement, delivery of various ad-hoc validation assignments, collaboration with the model development teams and business lines, and communicating results to model owners ensuring compliance with internal framework and regulatory requirements. He/she may also communicate and negotiate with the different counterparties regarding issues identified during the validation. **_ Accountabilities_** - Validate retail scoring (adjudication/behaviour/collection) models and non-retail adjudication Models. - Validate retail credit strategy models (including adjudication, behaviour, collection). - Validate AML models across the enterprise, including the vertical functions of (but not limited to), transaction monitoring, client risk rating, screening, etc. - Based on the results of model validation, recommend improvements to the model or the model development process and identify material improvement opportunities in the models being validated. - Responsible for completing draft validation reports and submission of all necessary documentation related to validation assignments to Senior Manager; ensure accuracy and completeness of archived information and related documentation to allow independent third-party review of the validation work performed. - Establish communication with model owner/developers to understand model rationale and issues; maintain relationship with key contacts as identified for each validation. - Communicate findings from validation work to stakeholders. - Maintain collaborative relationship with clients - Provide support to Senior manager to respond to ad hoc, regulatory and audit requests. - Recommend and enforce improvements to tests/methods to fulfill internal validation needs and to align (if applicable) with industry practices - Support Senior Manager in keeping the inventory system updated - Comply with internal policies, procedures, and regulatory requirements where applicable. - Provide support to resolve outstanding audit and regulatory issues, and to respond to ad hoc senior management and regulatory requests **Education / Experience** - 1+ year of experience in the data management or data architect, with familiarity and comfort in handling large data - 1+ year of experience in the development and/or validation of credit risk or AML models is desirable. - Exposure or experience in other risk functions such as credit risk, AML, market risk, or operational risk management also desirable. **Required Functional (Technical) Competencies**: - Sound understanding of various modelling techniques and comfortable to conduct various testing independently - Strong knowledge of statistical techniques and proven ability to employ these to analyze large sets of data - Ability to effectively utilize relational database and SQL queries for data analysis. - Proficiency in construction and executing distributed queries from a variety of databases/sources is required - Excellent verbal and written communication skills. - Hands on programming skills, particularly statistical and database modeling tools (SQL, SAS, R, Python VBA, MATLAB, Angoss Knowledge Studio or similar). Ability to adapt to various programming languages and environments. - Experience in Oracle Mantas AML solutions or knowledge of AML models and tools would be an asset - Knowledge of financial risk management, especially issues and techniques pertaining to credit risk management - including their practical implications and limitations is desirable. - Excellent verbal and written communication skills - Ability to speak and write in English would be desirable. **Work in a standard office-based environment; non-standard hours are a common occurrence.** Location(s): Colombia : Bogota : Bogota 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.