Vice President, Global Model Risk Management - Toronto, Canada - Scotiabank
Description
Requisition ID: 194933Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.
Purpose
- Provide strategic direction, leadership and oversight for model risk management globally by ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and procedures.
Accountabilities
- Lead and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
- Design, develop and oversee operation of a consistent model validation and approval process across all risk types, including credit risk, market risk, operational risk, structural interest rate risk as well as other key risks.
- Design, develop and oversee operation of an effective model risk governance framework that covers all aspects of the model lifecycle, including establishment of model risk policies, maintenance of a Bankwide model inventory and management of model risk through the model development, validation, approval and ongoing review phases.
- Lead and manage the model approval process directly or by chairing, or participating in, model approval committees, and other applicable model related committees.
- Act as the primary liaison with regulators with respect to model risk management, including model validation and governance.
- Lead and manage continual research into best practices for model validation and governance.
- Oversees the model validation team within GBS Colombia. Manages required talent, resource allocation and underlying budget for the Colombian Model Validation team.
- Engages and maintains collaborative relationships with key stakeholders (including model developers, users, internal audit and senior management) to facilitate resolution of all related model risk management issues in a timely manner.
- Proactively oversees the model risk management cycle, identifying opportunities for efficiencies, automation, and improvements of Model Risk Management governance structure.
- Oversee the execution of regulatory requests and reviews and leads the implementation of enhancements internally and/ or through cross functional collaboration.
- Direct daytoday activities in a manner consistent with the Bank's risk culture and the relevant risk appetite statement and limits. Communicate the Bank's risk culture and risk appetite statement throughout the team.
- Create an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of daytoday business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
- Build a highperformance environment and implements a people strategy that attracts, retains, develops and motivates the team by fostering an inclusive work environment; communicating vison/values/business strategy and managing succession and development planning for the team.
- Oversee model risk management globally, including providing advice & counsel to the Bank's subsidiaries as required
- Manage departmental staffing and budgeting, as well as key vendor relationships
- Participate in, and/or oversee, key modelrelated initiatives and projects
- Liaise with OSFI, Internal Audit, External Audit and other international regulators with respect to model risk management Work in a standard officebased environment; nonstandard hours are a common occurrence. Moderate travel internationally.
Education / Experience
- Thorough understanding of credit, market, operational and other risk types; solid grasp of financial markets and financial theory, along with detailed knowledge of regulatory requirements
- Very strong quantitative background, with either a Masters or PhD in maths/sciences
- Strong verbal and written communication skills, with highly developed expertise in communicating complex and abstract quantitative issues in an easytounderstand manner to broad internal and external audiences
- Extensive experience in development and/or validation of models
- Strong computing and technical skills; strong organizational and analytical skills
- Flexible thinking with strong problem resolution and negotiation skills
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.
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