Senior Specialist, Model Validation
Job Description
About the Role
temprop=”title” lang=”fr-CA” xml:lang=”fr-CA”>Senior Specialist, Model Validation
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Job Requisition ID: 10473
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Job Type: Permanent Full-Time
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Position Type: Hybrid
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Office Location: Toronto (ON); Calgary (AB); Halifax (NS); Montreal (QC); Ottawa (ON); Vancouver (BC)
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Travel Requirements: Limited Travel
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Language designation: Essential English
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Language proficiency levels (Reading/writing/speaking): ZZZ
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Compensation: Our salary range is between $99,646.37 and $124,557.97 depending on qualifications and experience.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>About CMHC
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>The work you do and the work we do together matters. We work day in and day out to achieve a common goal: to help the housing system function well.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>At CMHC, we are accountable for our results and support the accomplishments of our colleagues. We are collaborative , building connections across CMHC and involving the right people to get the job done. We value flexibility , allowing you to choose where, when and how you work based on the needs of the organization and your role. Our leadership style is based on trust , where our managers take an approach that is tailored to the needs of their team.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Join us to be part of a team committed to making a real difference and being part of an important mission.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>What we offer
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>We have the purpose, people and benefits you need to build a fulfilling career. Here are the benefits of becoming a permanent employee:
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>5 weeks of vacation;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>an annual individual performance bonus;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>a defined benefit pension plan;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>a comprehensive group insurance plan to promote your well-being from day one;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>support for your personal and professional growth through training, mentoring and more;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>an inclusive culture and work environment;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Although positions at CMHC require some office presence, other work arrangements may be considered for Aboriginal candidates.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>About the role
Join the Model Validation group within the Model Risk Management division where we leverage financial risk oversight to oversee and support the financial stability mandate. As a Senior Specialist, Model Validation, you will bring your advanced analytical skills and deep knowledge of the Canadian financial and mortgage sectors to CMHC’s modelling initiatives. You will participate in the development and validation of models and the interpretation of model results to inform decisions, improve risk management and develop automated systems.
What you will do:
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Perform validation of various models, including credit risk, pricing, actuarial, IFRS 17, economic capital, stress testing and machine learning, to assess their fitness for purpose and performance;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Design and implement statistical tests to assess the sensitivity, robustness and (continuous) performance of models;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Assess the robustness and risk of the model, both in approach and in use;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Monitor model performance to ensure continued quality and proactively identify opportunities to improve existing models and analysis tools;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Write comprehensive validation reports and discuss model issues with different stakeholders (e.g. model maintainers, developers and users);
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Make informed and balanced decisions on complex issues and provide expertise to ensure that the Company is not exposed to excessive risks;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Help improve model validation procedures and model risk governance to align with industry best practices.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>
Skills you should have:
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>An advanced degree (Master’s or PhD) in quantitative finance, mathematics, statistics, data science, actuarial science, finance, economics, or any other quantitative field. An equivalent combination of education and experience may be considered;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>At least five (5) years of relevant experience in modeling/validation or quantitative analysis with a bank, insurance company, asset manager or other type of financial institution;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Proven experience with actuarial, statistical and econometric models;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Proven knowledge and experience with various quantitative software like R, Python, VBA, Databricks, Clouds, etc.;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Knowledge of the capital rules and risk management standards of the Office of the Superintendent of Financial Institutions as well as the capital standards of the International Association of Insurance Supervisors;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Proven experience in writing technical modeling or validation reports;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>The ability to persuade, influence or negotiate with colleagues, clients and senior management;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>The ability to research, analyze problems, summarize information and formulate recommendations.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>It would be great if you also had the following:
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>A professional designation (actuary, chartered financial analyst [CFA], professional risk manager [PRM], financial risk manager [FRM] or a certificate in quantitative finance [CQF]);
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Proven experience in mortgage insurance, retail lending, scorecard development, economic capital and crisis simulation;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Experience with machine learning algorithms and probabilistic modeling;
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Bilingualism (French and English)
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Our commitment to diversity, equity and inclusion
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>We are committed to employment equity and encourage applications from women, Aboriginal peoples, persons with disabilities, veterans and people of all racial and ethnic origins, religions, abilities, sexual orientations, gender identities and expressions. We also welcome applications from non-Canadians who are eligible to work in Canada.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Our commitment to diversity, equity and inclusion
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>We are committed to employment equity and encourage applications from women, Aboriginal peoples, persons with disabilities, veterans and people of all racial and ethnic origins, religions, abilities, sexual orientations, gender identities and expressions. We also welcome applications from non-Canadians who are eligible to work in Canada.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>CMHC is an inclusive workplace where diversity of thought â and people â is recognized, valued and considered essential to the achievement of our mission.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Learn more about our commitment to diversity and inclusion.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Next steps after submitting your application
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>Thank you for applying; we know it can be both exciting and intimidating. Learn more about our hiring process. If you are one of those being interviewed or tested, please let us know if you require accommodation.
temprop=”description” lang=”fr-CA” xml:lang=”fr-CA”>If you’ve applied before but it didn’t work out, don’t worry. We’re always posting new positions, so don’t hesitate to try again. We can’t wait to see what you can do this time!
