Model Validation Advisor/Model Validation Senior Advisor, Model Risk Management
Export Development Canada
EDC is Canada s export credit agency, offering information, knowledge and
innovative commercial solutions to help Canadian exporters and investors expand
their international business. We take on risk so Canadian businesses can take
on the world.
When you join our team, you ll be helping Canadian companies bring their
vision, passion and innovation to the global marketplace. Your knowledge and
expertise will support more than 13,000 Canadian companies and their customers
in as many as 200 markets worldwide. You ll work shoulder-to-shoulder with
the best and brightest in an inclusive, collaborative environment that fosters
professional development and success. And you ll know that you re maki
difference every day for companies, for Canada and for the people you work
Year after year, EDC has been recognized as a Top 100 and Top Family-Friendly
EDC is seeking a Model Validation Advisor or Model Validation Senior Advisor to
join the Model Risk Management team. The Model Risk team is accountable for
developing, maintaining, and improving the model risk management program at
Reporting to the Director, Model Risk Management, the Model Validation Advisor/
Model Validation Senior Advisor will primarily be focused on conducting
independent end-to-end validation of a variety of Models used across the
company. End-to-end Model Validation involves identifying key risks associated
with a Model, planning a risk-based validation approach and scope, designing,
implementing and conducting validation tests, identifying gaps in Model
governance, and drafting a Model Validation report. He or she will also
contribute as a subject matter expert on model risk practices and will assist
in implementing the Model Risk Governance Framework at EDC.
The incumbent is expected to bring credible technical and business experience.
This role also requires communication and interpersonal skills to engage and
consult with business areas to find solutions adapted to EDC s size,
complexity and specific mandate.
* The role focuses on:
* Overseeing, conducting or advising on independent Model Validation
* Researching and reviewing external best practices, regulatory
requirements, and the organization's risk appetite
* Developing Model Validation plans and carrying out the requisite
* Preparing Model Validation reports
Researches and reviews external best practices and regulatory requirements to
provide guidance on EDC s Model Risk
Responsible for maintaining and implementing principles, practices, processes
and standards pertaining to EDC s Model Governance Framework
* Develops understanding of the business, the business area and function
that uses the Model, and the impact of the Model output on the business
* Manages stakeholder relationships to ensure Model Validation findings and
recommendations are appropriately informed by business purpose and
context following a risk-based approach.
* Ensures Model Validation activities are in compliance with the Model Risk
Policy, standards and guidelines.
* Oversees, conducts or advises on Model Validation activities as required.
* Ensures that Model stakeholders are aware of Model Risk Issues and
Limitations identified during Model Validation.
* Prepares Model Validation reports that details the validation scope,
testing approach, test results, findings and conclusions.
* Ensures that Model stakeholders are compliant with the Model Controls.
* Engages Model Owners and Users to pro-actively identify, assess, monitor
and manage Model Risk.
* Acts as a corporate resource in the interpretation and classification of
quantitative and qualitative factors in assessing Model Risk.
For aSenior Advisorrole, in addition to the above responsibilities:
* Takes a lead role in the responsibilities listed above and performs them
at an advanced/expert level.
* Provides oversight and coaching to more junior employees.
* Be expected to independently manage non-standard requests that come to
* Provides support to the Director to inform decision-making.
* Influences the achievement of objectives.
* Interprets internal/external business challenges and recommends best
practices to improve model risk management practices and processes
following a risk-based approach.
* Undergraduate degree in Statistics, Actuarial Sciences, Mathematics,
Computer Science, Finance within a quantitative discipline or related
* Minimum of 5 years (Advisor) or 7 years (Senior Advisor) of experience in
quantitative risk management
* Expert knowledge of, and/or broad experience in at least one of the
* Insurance pricing and reserving;
* PD, LGD and scoring models;
* Expected Credit Losses models
* Econometrics and economic forecasting
* Asset and portfolio management modeling
* Reserving, profitability, capital, forecasting, and stress testing
* Data mining, predictive modelling, and/or machine learning algorithms
Expert knowledge of model risk management principles and practices
Strong foundation in applied probabilistic modeling, time series analysis and
Proficiency with SAS and/or other data software like R or C/C++/C#, Python,
Matlab, Database (Oracle, SQL etc.)
* Bilingual in both official languages (French and English)
* Professional designations such as Fellow of the Actuarial Society,
Financial/Professional Risk Manager, Accounting designations
* A graduate degree in a quantitative discipline (e.g. Applied/Actuarial
* Credit risk management and model validation experience, preferably in a
financial services and/or Crown corporation environment
* Knowledge or experience in modeling practices related to IFRS 9 and/or
IFRS 17 regulations
We will consider candidates at the different levels below depending on the
incumbent's qualifications. *
* Advisor: $74,200 $111,400 + performance-based incentive
* Senior Advisor: $87,300 $131,000 + performance-based incentive
* Please be advised that this position is based at our Head Office in
Ottawa. Relocation assistance is available for eligible candidates.
Only candidates selected for an interview will be contacted.
Application deadline: Friday, July 10, 2020, 11:59 p.m. ESTon
EDC is committed to employment equity and actively encourages applications from
women, Aboriginal people, persons with disabilities and visible minorities. If
selected for an interview, please advise us if you require special
* Full Time position
* Compensation will be $74,200.00 - $131,000.00
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