AVP, Model Validation

At CWB, we strive to build value for the people who choose us every day: our people, our clients and our investors. We do this by:Putting people first and building relationships with intentionSeeking out and embracing new ideasBelieving that how we do things is as important as what we doPut a new spin on your careerThe overwhelming majority of our employees say CWB is a Great Place to Work®We’re different from the big banks in the way we engage our employees - caring, responsive, and armed with an obsession for growing talent. Our reputation is powered by a people first culture that ensures our employees be and feel heard, promotes inclusivity and diverse viewpoints, and inspires collaboration and innovation.Our employees love CWB. You’ll love it here too.Roles SpecificationsLocation: Edmonton, AB or Toronto, ONHybrid work environments. Collaborative connections. Occasional Travel required.The opportunity Canadian Western Bank (CWB) is seeking a dedicated and motivated AVP, Model Validation to grow our Risk Services team. The successful candidate will be critical in developing and accomplishing CWB’s second line of defense model risk management function. Validating or reviewing models currently being used or may be used within the operations of the organization. Working closely with the Senior AVP, Model Governance and Validation, this position will also support in leading team projects and establishing relationships throughout the organization.Areas of focus Conduct detailed validation of sophisticated financial models including risk, pricing, and valuation models. Such as AIRB, ICAAP, IFRS-9, credit adjudication, treasury, asset valuation, fraud and AML/ATF models.Lead and supervise validation projects that require multi-resource involvement and ensure high quality model validation are delivered within timelines.Assess model performance and stability through back-testing, stress testing and sensitivity analysis.Review model documentation to ensure transparency, completeness, and compliance with regulatory requirements.Benchmark models at CWB to peers as suitable to ensure models are within common industry practices.Collaborate with model developers, risk managers and other partners to address any identified issues or deficiencies.Keep abreast of industry standard methodologies, regulatory guidelines, and emerging trends in quantitative finance.Provide professional mentorship and guidance to partners in model regulation requirements and CWB’s model risk management principles, requirements, and process.Successful incumbentMaster’s or PhD degree in Math/Math Finance, Statistics, Data Science, Economics, or other compatible programs is required.CFA or FRM Credential is an asset.Seven (7) years proven experience in model development, model validation or relevant areas.Five (5) years demonstrated ability in credit risk modeling. Experience in both wholesale credit and retail credit is an asset.Experience mentoring individuals throughout an organization.Experience in data management and assessment.Experience in regulatory reviews on model risks, capital requirements, or financial crime detection.Deep knowledge in model risk related regulations and guidelines such as CAR2023/CAR2024, BASEL III/IV, ICAAP, E-23, E-18, E-19, IFRS 9, AML, etc.Strong quantitative skills in quantitative modeling, model validation, or other financial risk analytics.Critical thinking to identify gaps, deficiencies, and rooms for improvement in frameworks, systems, procedures, integrity, workflow, data, and other model risk related areas.Ability to conceptualize sophisticated and highly technical issues and commutate them effectively with peers, management, and regulators.Why work with us?Your success is our obsession! And our award-winning culture & benefits back it up.Proudly recognized by Great Place to Work® in 2023 as one of Canada’s top 50 Best Workplaces & recipient of Waterstone Human Capital’s Most Admired Corporate Culture 2023. Wellness matters. We offer an award-winning benefits package that includes:Hybrid work environmentsEveryday flexibilityGenerous company-funded health coverageHealth care spending accountA flexible wellness programgenerous time-away options to unplug, rest & recoverCareer development. We commit to our employees’ development and help them reach their professional goals with:Organization wide coaching servicesMentorshipEducation support & training programsBring your whole self to work. Inclusion is a journey requiring practice & experience to result in a powerful outcome. Your perspective matters & voice will be heard. Find community within the CWB family in our employee represented groups.#LI-BS1IND-BSAs an equitable employer, CWB Financial Group is committed to providing a safe and inclusive environment where a diverse workforce thrives. You are welcomed and encouraged to bring your whole self to work. Dignity, respect and equality are non-negotiables. If you require accommodation during any part of the recruitment or selection process, please reach out.Closing Date:* Position closes at 12:01am on the close date identified below.05/22/2024