Senior Analyst, Enterprise Risk Management - Oakville, Ontario
2 days ago
Job description
Senior Analyst, Model Risk, Enterprise Risk Management
Job Summary:
The Senior Analyst, Enterprise Risk Management plays a key role in ensuring the robustness, reliability, and appropriate use of risk models and related model risk governance processes across the company's bank, including compliance with regulatory expectations.
This position is responsible for performing independent testing and challenge of all models, oversight of model lifecycle processes, supporting the development and enhancement of risk assessment methodologies, and working collaboratively with business and risk partners to strengthen the Bank's enterprise risk management and model governance frameworks.
Key Responsibilities:
- Model Testing and Validation:
Perform independent testing and validation of risk models to assess their accuracy, reliability, and appropriateness, and to support compliance with applicable regulatory expectations and internal model governance standards. - Challenging Models:
Proactively and independently challenge the assumptions, methodologies, and inputs and outputs of existing risk models, and provide well-reasoned alternative perspectives and recommendations to enhance model performance and risk measurement and ensure alignment with policy and regulatory expectations. - Risk Assessment:
Perform comprehensive quantitative and qualitative risk assessments through the analysis of financial data, market trends, and relevant economic indicators to identify emerging and existing risks and recommend mitigation strategies. - Reporting and Documentation:
Prepare clear and detailed reports on model performance, validation activities, quality assurance outcomes, and risk assessments findings, and ensure that related documentation is complete, accurate, and maintained in accordance with internal governance and regulatory expectations. Track and report key performance indicators to governance committees (e.g., validation cycle times, number of open/ closed issues, time to remediation, materiality ratings). - Collaboration:
Collaborate closely with cross-functional stakeholders, including finance, audit, compliance, and IT, to ensure alignment on risk management objectives, practices and expectations across the organization and facilitate timely remediation of validation findings. - Continuous Improvement:
Stay informed of industry best practices, regulatory developments (including OSFI E?23), and emerging risks (e.g., data drift, AI/ML governance), and recommend enhancements to the bank's risk management processes, methodologies, and tools. - Quality Assurance
: Conduct periodic and comprehensive quality assurance reviews across the Model Risk Management governance framework including model inventories, validation documentation, governance controls, and lifecycle processes to confirm adherence to policy, regulatory expectations, and consistent model risk standards. - Training and Mentorship:
Provide guidance, knowledge sharing, and training to junior analysts and other team members on model validation techniques, risk assessment approaches, and enterprise risk management principles.
Qualifications:
- Education:
Bachelor's degree in finance, Economics, Statistics, Mathematics, or a related discipline. A master's degree and/or a relevant professional designation (e.g., CFA, FRM) is preferred. - Experience:
Minimum of 5 years of experience in risk management within the banking or broader financial services industry, with demonstrated experience in risk model testing and validation. and strong knowledge of regulatory guidelines. Experience with credit, capital, stress testing, and/or ML models is an asset. - Technical Skills:
Proficiency in statistical and analytical software (e.g., SAS, R, Python), along with advanced Microsoft Excel skills. Familiarity with database management systems and query languages (e.g., SQL) is considered an asset. - Analytical Skills:
Strong analytical and critical thinking skills, with the ability to interpret complex data, identify key risk insights, and support informed decision-making. - Communication Skills:
Excellent written and verbal communication skills, with the ability to clearly and effectively present analysis and findings to both technical and non-technical audiences, including senior leadership and governance committees. - Attention to Detail:
High level of accuracy and attention to detail in all aspects of analysis, documentation, and reporting. - Regulatory Knowledge:
Understanding of relevant regulatory requirements and supervisory expectations related to risk management within the banking sector (e.g., OSFI guidelines).
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