Director, Model Risk Management

Our Story & Purpose

We’re Vancity, a member-owned credit union built on the principles of inclusion and social justice. Since 1946, our relentless commitment to these values has helped us challenge the status quo and break down barriers. We’ve made bold commitments to become net-zero by 2040 across all mortgages and loans, and we’re advancing meaningful strategies in Indigenous banking and financial resilience for our members.

As the largest private-sector Living Wage Employer in Canada, we’re proud to be consistently recognized as one of the country’s Top Employers. If you’re ready to join a team of 2,300 purpose-driven individuals, access competitive rewards and benefits, and be part of a greater movement, we invite you to apply.

Your Role in Supporting Our Members

As the Director, Model Risk Management (MRM), you will lead the establishment and ongoing development of Vancity’s enterprise Model Risk Management function. You will be responsible for designing and implementing the frameworks, governance standards, and operating practices that enable effective second-line oversight of model risk across the organization, while providing independent review and challenge to ensure models are used responsibly and in line with Vancity’s risk appetite and regulatory expectations.

This is a full-time, permanent role reporting directly to the Vice President, Risk Management – Finance & Treasury (RMFT) and is foundational to the development of Vancity’s newly established Finance & Treasury Risk function. You will work closely with Treasury, Finance, Risk, and senior leadership to embed model risk governance into decision-making, strengthen oversight of model use, and support Vancity’s financial sustainability, regulatory compliance, and long-term resilience. Our head office is based in Vancouver, with a hybrid working model and flexibility for candidates based in British Columbia or Ontario.

How You’ll Make an Impact

• Lead the enterprise-wide design and implementation of Vancity’s Model Risk Management capability, including policies, governance structures, operating principles, reporting standards, and escalation pathways
• Establish and oversee a comprehensive enterprise model inventory, covering all internal and third-party models, with clear classification criteria, materiality tiers, lifecycle governance, and ownership accountability
• Design and apply a proportionate, risk-based model governance and validation approach, ensuring governance intensity is aligned to model materiality, complexity, and risk impact
• Design and oversee a risk-based model validation framework and validation schedule, including prioritization of validation activities based on model materiality, complexity, and risk, and oversight of validation outcomes and remediation actions
• Ensure appropriately rigorous challenge across high-impact models spanning IRRBB, liquidity, capital, credit, and other risk domains, aligned with regulatory and industry-leading practices
• Act as Vancity’s senior authority on model governance, providing independent oversight of conceptual soundness, data lineage, performance monitoring, and model change activities
• Oversee governance and risk management of advanced analytics, AI / ML, and third-party / vendor models, including explainability, bias considerations, performance monitoring, and change controls
• Identify systemic model-risk issues, elevate governance maturity, and influence senior leadership decisions related to model reliance, limitations, and risk acceptance
• Serve as the primary liaison for model risk matters with regulators, Internal Audit, and senior executives
• Build enterprise-wide awareness of model risk through education, guidance, and proactive communication on emerging regulatory expectations and best practices

What You’ll Bring to the Team

You’ll Thrive Here If You Are :

What You’ll Earn :

The annual salary band of this role is $141,900 - $183,000. The base pay offered may vary depending on factors such as relevant qualifications, skills, previous experience, and internal equity. As part of our total rewards package, employees may also be eligible for our annual incentive program, subject to program eligibility requirements

Vancity Talent Programs :

Vancity supports an inclusive hiring process for candidates who self-identify as Indigenous, Black, or Trans. With special permission from the BC Human Rights Commissioner, this initiative provides access to career development opportunities, prioritized job screening, and feedback. Any information you choose to share will be stored securely and used only for recruitment and career development connected to this initiative, in line with the BC Personal Information Protection Act (PIPA). For details, please see our dedicated Talent Programs job posting.