Senior Analyst, Model Validation

Who we are:

Fairstone Bank and its family of brands are united in delivering innovative, accessible and reliable financial solutions that enable Canadians to reach their goals. Over the years, our brand family has grown. In 2024, Home Trust Company, Home Bank and Oaken Financial became part of the Fairstone Bank family of brands, alongside Fairstone, Eden and Fig.

Together, we are the leading alternative lending bank in Canada. We have the collective experience and expertise to better serve our customers and foster our partners’ growth. With a diverse suite of products—residential and commercial mortgages, consumer deposits and GICs, credit cards, retail and automobile financing, personal loans and digital lending—we offer financial solutions tailored to all Canadians, including newcomers, small-business owners, smart investors and savvy consumers.

Backed by nearly a century of lending experience through its legacy companies, Fairstone Bank and its brand family are proud to be Canada’s leading alternative lending bank. ​

About the role:

Reporting to Manager, Modeling & Validation, this individual will work on projects related to the management of end-to-end model lifecycle, from development, validation, implementation, monitoring, and maintenance of credit risk scoring models. The ideal candidate should have practical experience in building predictive models using statistical methods such as logistic/linear regression & advanced techniques using AI, validating models to mitigate the model risks under the model governance, as well as excellent data manipulation skills in SAS & SQL or Python.

Primary Roles & Responsibilities:

• Develop and validate custom risk management & marketing models using various modeling techniques including Decision Trees, Logistic Regression, and advanced Machine Learning algorithms
• Support the model validation team to mitigate the model risks. Discovers and diagnoses modeling related risks including input data, assumption, concept, methodology, process, and implementation. Provides subject matter expertise on model's strength and weakness and recommend practical solutions
• Discusses validation results with model owners and governance team to gain consensus and create strategies to implement changes if needed
• Develops validation strategies and plans to ensure appropriate type and level of vetting of models is carried out.
• Independently validates / tests models and their associated assumptions, benchmarks, and supporting documentation against model vesting process, standards, guidelines and principles; assesses the data for model development as well as inputs to the model; compares validation results with model developer results for replicability.
• Identifies deficiencies, conditions for model use, recommends changes, and escalates as required; quantifies model risks, documents outcomes and communicates with stakeholders.
• Identifies where corrective actions are required and escalates per guidelines; monitors and ensures corrective action is taken.
• Provides technical advice and guidance to assigned business/group on implementation of the model vetting framework, and resolution of model risk issues.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
• Builds effective relationships with internal/external stakeholders.
• Ensures alignment between stakeholders.
• Monitors and tracks performance; addresses any issues.
• Coordinates and monitors the review and sign-off of model validation reporting including model inventory and model inventory attestations.
• Keep abreast of new statistical and machine learning techniques and tools, and industry best practices to predictive modeling.
• Provide technical guidance, proactive support, and data-driven recommendations to management from predictive modeling perspective.
• Communicate and present key findings to both technical and non-technical internal business stakeholders leveraging visualization tools and techniques.

What we’re looking for:

• 2+ years work experience in analytics and predictive modeling in a financial services industry, preferably in Credit Risk Analytics setting & 2+ years of work experience in SAS and SQL
• Bachelor’s Degree in quantitative field such as statistics, economics, actuarial sciences, engineering, or mathematics
• Demonstrated understanding of credit risk model development, validation and monitoring techniques
• Strong data science capabilities, with proven experience in manipulating data using SAS and SQL
• Knowledge of statistical techniques and concepts (regression, Bagging & Boosting, clustering, etc.) with the skill to determine the appropriateness of a technique for a given business problem
• Experience working with very large databases, data mining and/or data warehousing
• Expert skill level with Microsoft Excel pivot tables, index match functions and Microsoft Access or other database management software
• Demonstrated technical expertise with a good understanding of financial products, of industry-specific Risk and Analytics tools and of the credit risk life cycle
• Knowledge of and expertise in developing and validating loss forecasting and provisioning models (IFRS9, Basel…) is a strong asset
• Experience with AWS data science and modeling tools or Altair knowledge studio are considered an asset
• Strong communication skills (oral and written) and the ability to interact with all levels of the organization
• Ability to handle multiple projects simultaneously while maintaining quality and meeting expectations in a fast-paced environment
• Strong attention to detail and the ability to be flexible and adaptable to a changing environment

What you’ll love about working here:

• Award-Winning Culture: We’re proud to be recognized as a and one of by Canada’s Top 100 Employers.
• Work-Life Balance: Enjoy flexibility with our hybrid work model designed to support your lifestyle.
• Time to Recharge: Generous vacation based on your role, statutory holidays, plus 6 wellness days to prioritize your well-being.
• Compensation Package: Competitive base salary plus an annual incentive bonus tied to performance.
• Comprehensive Benefits: Robust health and dental coverage through Manulife, as well as virtual healthcare through Dialogue.
• Future-Ready Savings: Group Retirement Savings Plan with up to 7% employer match.
• Exclusive Perks: Discounts from top retailers via WorkPerks, plus location-based perks like gym memberships and Toronto Bike Share.
• On-Site Fitness: Gym access at our London and Montreal offices.
• Continuous Growth: Education Assistance Program and Fairstone Academy for training and skill development.
• Family Support: Parental leave top-up program to help you during life’s big moments.
• Community Impact: One paid volunteer day to give back to causes that matter to you.

What you can expect - pay & process:

• Expected base salary range is $65 000.00 - $82 000.00 per year, plus the opportunity to earn an annual incentive bonus tied to performance.
• This posting is for an existing vacancy within our organization.
• Artificial intelligence may be used in parts of the recruitment process.
• All candidates considered for hire must successfully pass a criminal background check, credit check, and validation of their work experience to qualify for hire.

If what you read excites you, we’d like to hear from you! Please submit your application and we’ll contact you if you become selected for first stages of the interview process.

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