Vice President, Global Model Risk Management

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.Purpose
Provide strategic direction, leadership and oversight for model risk management globally by ensuring business strategies, plans and initiatives are supported in compliance with governing regulations, internal policies and proceduresAccountabilities
Lead and drive a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledgeDesign, develop and oversee the operation of a consistent model validation and approval process across all risk types, including credit risk, market risk, operational risk, structural interest rate risk as well as other key risksDesign, develop and oversee the operation of an effective model risk governance framework that covers all aspects of the model lifecycle, including establishment of model risk policies, maintenance of a Bank-wide model inventory and management of model risk through the model development, validation, approval and ongoing review phasesLead and manage the model approval process directly or by chairing, or participating in, model approval committees, and other applicable model related committeesAct as the primary liaison with regulators with respect to model risk management, including model validation and governanceLead and manage continual research into best practices for model validation and governanceOversees the model validation team within GBS Colombia. Manages required talent, resource allocation and underlying budget for the Colombian Model Validation teamEngage and maintain collaborative relationships with key stakeholders (including model developers, users, internal audit and senior management) to facilitate resolution of all related model risk management issues in a timely mannerProactively oversees the model risk management cycle, identifying opportunities for efficiencies, automation, and improvements to the Model Risk Management governance structureOversee the execution of regulatory requests and reviews and leads the implementation of enhancements internally and/ or through cross functional collaborationDirect day-to-day activities in a manner consistent with the Bank’s risk culture and the relevant risk appetite statement and limitsCommunicate the Bank’s risk culture and risk appetite statement throughout the teamCreate an environment in which the team pursues effective and efficient operations of their respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business ConductBuild a high-performance environment and implement a people strategy that attracts, retains, develops and motivates the team by fostering an inclusive work environment;
communicating vison, values and business strategy and managing succession and development planning for the teamOversee model risk management globally, including providing advice and counsel to the Bank’s subsidiaries as requiredManage departmental staffing and budgeting, as well as key vendor relationshipsParticipate in, and/or oversee, key model-related initiatives and projectsLiaise with OSFI, Internal Audit, External Audit and other international regulators with respect to model risk managementWork in a standard office-based environment;
non-standard hours are a common occurrence. Moderate travel internationallyEducation / Experience
Thorough understanding of credit, market, operational and other risk types;
solid grasp of financial markets and financial theory, along with detailed knowledge of regulatory requirementsVery strong quantitative background, with either a Masters or PhD in mathematics, science, or related quantitative disciplineStrong verbal and written communication skills, with highly developed expertise in communicating complex and abstract quantitative issues in an easy-to-understand manner to broad internal and external audiencesExtensive experience in development and/or validation of modelsStrong computing and technical skills;
strong organizational and analytical skillsFlexible thinking with strong problem resolution and negotiation skillsLocation(s): Canada : Ontario : TorontoScotiabank 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.
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