Manager, Risk Modelling

Equitable Bank - Toronto, ON (30+ days ago)

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Canada's Challenger Bankā„¢
If you're looking for a workplace where employees are passionate about their work environment, then read on. What sets Equitable Bank apart from other companies is its culture. We celebrate and embrace the fabric of diversity, the employee engagement process and collectively take pride in our business successes. Our commitment to our customers, our partners and our employees creates a stimulating and exciting atmosphere that generates innovative products and outstanding service quality.

Equitable Bank is Canada's ninth largest independent Schedule I bank, serving Canadians coast to coast. It offers a diverse suite of residential lending, commercial lending and savings solutions, including high-interest savings products and GICs. Through its proven branchless approach and customer service focus, Equitable Bank has grown to approximately $31 billion in assets under management. In 2016, Equitable Bank launched a digital banking operation, EQ Bank, and introduced the EQ Bank Savings Plus Account. Equitable Bank currently employs over 750 employees across the country.

Within Equitable Bank's Core Lending business, Single Family Lending Services funds mortgages for owner-occupied and investment properties across Canada, while Commercial Lending Services provides mortgages on a variety of commercial properties on a national basis.Equitable's Securitization Financing business originates and securitizes insured residential mortgages under the Canada Mortgage and Housing ("CMHC") administered National Housing Act.Equitable Bank also offers a range of deposit products including short-term, long-term and Cashable GICs, available in non-registered or Tax Free Savings Account ("TFSA") across Canada. And it offers a High Interest Savings Account, available from authorized investment advisors through the FundServ network.

Equitable Bank is a growing Canadian financial services business and a wholly owned subsidiary of Equitable Group. It was founded in 1970 as The Equitable Trust Company.

Job Title: Manager, Risk Modelling
Department: Risk Management
Reports To: Senior Manager, Risk Model Development of Risk and Capital Analytics (RCA)

Main Activities:
  • Develop and update credit risk models used for AIRB Regulatory Capital, ICAAP Economic Capital, stress testing, and IFRS9 ECL and Economic Capital.
  • Perform quantitative analysis to produce recommendations and reports in support of business initiatives, efficiencies, and potential strategies. This includes modeling design, development, process and utilization of sophisticated statistical modeling methods and tools.
  • Interacts with different business stakeholders regarding credit risk issues; formulates strategy recommendation by evaluates the risk in the overall loan portfolio.
  • Support to design internal validation and ongoing performance tests for models such as PD, LGD and EAD.
  • Undertake ad-hoc projects such as peer benchmarking, migration analyses, risk reporting and methodology research.
  • Maintains stress test models, risk models, and finding new initiatives for stress testing.
  • Provide guidance and mentoring to junior members of the Risk and Capital Analytics team to help them further develop their full potential
Knowledge/Skills Requirements:
  • A Masters Degree in Statistics, Finance, Mathematics, Computer Science, Financial Engineering or a field related to the position requirements. (included is a Bachelor Degree)
  • 2-5 years of working experience in model development and credit risk analysis in financial industry.
  • Knowledge of the mortgage industry (residential and commercial) would be an excellent asset.
  • Solid knowledge of risk rating systems and risk quantification parameters (PD, LGD, EAD), and credit risk modeling concepts.
  • Must be aware and know of data analysis/data mining and two or more statistical techniques (Logistic Regression, Linear Regression, Time Series Analysis, Decision Tress, Monte Carlo Simulation.)
  • Expert proficiency of SQL, Excel VBA and Access database is required.
  • Strong programming skills include knowledge of statistical programs (e.g. Matlab SAS, R, SPSS).
  • Excellent analytical, modeling and problem solving skills.
  • Strong attention to detail.
  • Ability to manage time and work under strict deadlines.
  • Ability to handle multiple competing priorities (multi-tasking).
  • Ability to clearly communicate (written and verbal) technical, analytical/quantitative or conceptual information and ideas.
  • Solid interpersonal skills with a track record in developing strong working relationships across the organization.
Equitable Bank is an equal opportunity employer and encourages applications from all qualified candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process. All candidates considered for hire must successfully pass a criminal background check and credit check to qualify for hire. While we appreciate your interest in applying, an Equitable recruiter will only contact leading candidates whose skills and qualifications closely match the requirements of the position.