Manager, Model Validation & Approval

Requisition ID: 265870

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Manager in the Model Validation & Approval valuation team provides independent and consistent model validation and approval across various product types, including foreign exchange (FX), fixed income, equity, commodities, credit, and XVA. The role involves regular collaboration with multiple stakeholders, including Global Analytics & Financial Engineering (GAFE) and Trade Floor Risk Management (TFRM), and occasional responses to internal and external audit requests.

Is this role right for you? In this role, you will:

• Support the Director/Senior Manager in validating derivative pricing models used in capital markets and risk management for various purposes, including P/L calculation, sensitivity analysis, and limit monitoring.
• Manage validation projects independently or as part of a team; review model documentation; conduct research on new methodologies and validation techniques; and design and implement validation test plans.
• Prepare summary reports of findings and present professional opinions to the Director and Vice President, Global Model Risk Management.
• Manage relationships with key contacts identified for each validation request submission.
• Comply with internal policies, procedures, and applicable regulatory requirements.
• Provide support for large-scale projects as required.
• Stay abreast of industry and regulatory developments and evolving expectations; develop relationships with counterparts at other financial institutions.

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• Advanced degree in a quantitative field such as Mathematics, Physics, Computer Science, Financial Mathematics, Economics, or Financial Engineering (Master's degree or above).
• Industry certifications or credentials are considered an asset (e.g., CFA, FRM).
• Strong knowledge of applied mathematics/statistics and numerical methods such as Monte Carlo simulation, binomial/trinomial trees, and numerical solutions to PDEs.
• In-depth knowledge of one or more of the following product types and modeling techniques is preferred: equity derivatives, interest rate derivatives, commodity derivatives, FX, credit, XVA, and local/stochastic volatility modeling.
• Strong knowledge and/or work experience in Artificial Intelligence (AI) and Machine Learning (ML) is an asset.
• Effective project and time management skills to efficiently deliver concurrent projects with competing priorities while maintaining high quality.
• Ability to supervise and independently deliver work assignments efficiently.
• Strong conflict management skills and the ability to collaborate effectively with model owners/sponsors, internal audit teams, and regulators.
• Effective presentation skills, with strong spoken and written communication abilities.
• Candidates with expertise in capital markets valuation and risk models will be the primary focus for this role. Additional expertise and working knowledge across other risk/model types within the department's current scope (e.g., Market Risk, Capital Models) will be considered an asset.

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

Location(s): Canada : Ontario : Toronto

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.

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.