Senior Specialist, Model Validation

at  Canada Mortgage and Housing Corporation CMHC

Job Requisition ID: 10473
Position Status: Permanent Full Time
Position Type: Hybrid
Office Location: Toronto (ON); Calgary (AB); Halifax (NS); Montreal (QC); Ottawa (ON); Vancouver (BC)
Travel Requirement: Limited
Language Designation: English Essential
Language Skill Levels (Read/Write/Speak): ZZZ
Salary: Our salaries generally range from $ 99646.37 to $ 124557.97 and are based on qualifications and experience.
About CMHC
The work you do and the work we do together matters. We come to work every day with a common purpose: to contribute to a well-functioning housing system.
At CMHC, we hold ourselves accountable for our results and support our colleagues in their achievements. We thrive on collaboration, connecting across CMHC and involving the right people to get our work done. We value flexibility, enabling you to choose where, when, and how you work, based on business needs and your role. Our leadership style is guided by trust, where our leaders favour an adaptive approach based on the needs of their teams.
Join us and be part of a team that’s committed to making a real difference and be part of something meaningful.
What’s in it for you
We’ve got the purpose, the people and the perks you need for a fulfilling career. Here’s what you get when you’re a permanent employee:
5 weeks of vacation.
Annual individual performance incentive.
Defined benefit pension plan.
Comprehensive group insurance plan to support your well-being from day one.
Support towards your personal and professional growth with training, mentorship and more.
An inclusive workplace culture and environment.
While positions at CMHC require some in-office presence, alternative work arrangements may be considered for Indigenous candidates.
About the role
Join the Model Risk Management division, Model Validation group where we use financial risk oversight to monitor and support financial stability mandate. In the role of Senior Specialist, Model Validation, you will apply your advanced analytical skills and knowledge of Canada’s financial and mortgage sectors to modelling initiatives at CMHC, including model development, model validation and the interpretation of model results with the ultimate purposes of informing decision making, enhancing risk management and building automated systems.

Perform validation of different models including credit risk, pricing, actuarial, IFRS17, economic capital, stress testing, and machine learning models to assess model fitness for purpose and performance.
Design and implement statistical tests to assess model sensitivity, robustness, and (ongoing) performance.
Assess model soundness and risk in both approach and usage.
Monitor model performance to ensure ongoing quality, and proactively identify opportunities to improve existing models and analytical tools.
Draft comprehensive validation report and discussing model issues with different stakeholders (model owners, developers, users, etc.).
Make sound and balanced decisions on complex issues and providing expertise to ensure the Corporation is not at undue risk.
Help improve model validation procedures and model risk governance to reflect industry best practices.