WHO WE ARE

HomeEquity Bank is a Schedule 1 Canadian chartered bank and the leading national provider of reverse mortgages, with a growing portfolio. As the only bank solely dedicated to serving homeowners 55 and up, we’re passionate about helping Canadian homeowners live retirement on their terms. We live that commitment every day, with a range of reverse mortgage solutions that include our flagship CHIP Reverse Mortgage™ product.

POSITION SUMMARY

This role works closely with our business partners as the second line of defense to manage the Bank’s risk exposure within our stated Risk Appetite, while allowing the business to achieve its goals. This role will manage the bank’s model risk across business lines.

KEY ACCOUNTABILITIES OF THIS POSITION INCLUDE:

• Manage model risk throughout the model lifecycle including validation, ongoing performance evaluation and periodic model reviews.
• Manage model validation projects from start to finish, designing and executing quantitative testing, analyzing conceptual soundness and assessing model suitability.
• Work effectively with model owners to understand the models, convey second line expectations, and professionally challenge model elements.
• Use industry and academic expertise to properly assess model assumptions, mathematical formulation, and implementation considering each model’s business purpose.
• Research model performance benchmarks and build challenger models from scratch as appropriate.
• Document and present findings to executive model owners, clearly communicating key model limitations, and recommending compensating controls.
• Conduct on-going self-study of developments in modeling and validation techniques, regulatory guidelines, and new analytical tools.
• Support the continued evolution of an industry-best-practice model risk framework including validation process standards, guidance, practices, and templates.

SKILLS AND EXPERIENCE REQUIRED

Qualifications

• Graduate degree in Quantitative Finance, Economics, Data Science, or related field.
• FRM or, CFA designation or equivalent industry experience
• 8+ years experience in model development, model validation or quant-focused risk management at a financial institution.
• Experience with the following model types: Credit Risk, Interest Rate Risk, Loss Forecasting, Stress Testing, Actuarial and Liquidity Risk.
• Advanced Python and SQL skills, including data processing, automation, statistical packages and data visualization.

Attributes

• Strong analytic, creative thinking, and problem-solving abilities, with the ability to design and implement statistical testing to assess a given model’s effectiveness.
• Excellent communication skills, with the ability to translate complicated topics into straightforward business terms, present to executive audiences, and able to produce technical documentation with academic rigor.
• Effective and professional stakeholder management.
• Track record of attention to detail with lengthy experience self-policing for data anamolies, coding errors and overall accuracy.

Working Conditions Unique to Job

• Hybrid work environment