Requisition ID: 244958

Join a purpose driven winning team, committed to results, in an inclusive and high-performing culture.

The Director, Model Risk Goverance is responsible for establishing, implementing and maintaining the Bank’s enterprise-wide model risk management frameworks. 

Is this role right for you? In this role, you will:

• Leads and drives a customer focused culture throughout their team to deepen client relationships and leverage broader Bank relationships, systems and knowledge.
•  Leads the creation, review and enhancement process for the Bank’s enterprise-wide model risk management policy taking into account applicable regulatory requirements (OSFI E-23, US SR 11-7) and input from relevant internal stakeholders. Ensures that the policy complies with regulatory requirements, industry practice and provides a solid platform for enabling the internal model risk management framework.
•  Provides advice and counsel to the Bank’s subsidiaries with respect to their local model risk management policies and frameworks; act as a primary liaison with model sponsors with respect to matters related to model risk governance and policy interpretation, model validation pipeline, issue communication, and result approval.
•  Leads the model risk governance team in ensuring that an accurate and up to date inventory of model is maintained in the inventory platform and manages the process to ensure accuracy and reliability of model inventory data. Ensures completeness of the model inventory by managing the model inventory attestation process across all areas of the Bank.
•  Leads the creation, review and ongoing enhancement of the model risk rating methodology to assist the assessment of model risk in a consistent manner across model types.
•  Leads the creation, review and ongoing enhancement process for issue identification, assessment and resolution through relevant policies and procedures; liaise with the Bank’s subsidiaries and other units in ensuring model-related issues are appropriately tracked and captured in all relevant processes.
•  Coordinate and manage the process for generating model risk reports for board and senior management.
•  Research and assess evolving industry best practices in model risk management and model risk governance, with particular attention to regulatory and audit expectations; keep abreast of peer practices through informal networks and contacts.
•  Understand how the Bank’s risk appetite and risk culture should be considered in day-to-day activities and decisions.
•  Creates an environment in which his/her team pursues effective and efficient operations of his/her respective areas, while ensuring the adequacy, adherence to and effectiveness of day-to-day business controls to meet obligations with respect to operational risk, regulatory compliance risk, AML/ATF risk and conduct risk, including but not limited to responsibilities under the Operational Risk Management Framework, Regulatory Compliance Risk Management Framework, AML/ATF Global Handbook and the Guidelines for Business Conduct.
•  Builds a high-performance environment and implements a people strategy that attracts, retains, develops and motivates their team by fostering an inclusive work environment and using a coaching mindset and behaviours; informing vison/values/business strategy; and, managing succession and development planning for the team
• Responsible for coordination of activities related to the Bank’s compliance pertaining to use of models including coordination of annual CRO attestation, regulatory reporting related to OSFI’s quarterly model monitoring (QMM) process.

Do you have the skills that will enable you to succeed in this role? - We'd love to work with you if you have:

• Thorough understanding of credit, market, operational and other types of risks
•  Excellent and very strong communication skills (both written and verbal) in order to creation policy documents, prepare presentations, lead discussions with senior management and to interact with a wide range of internal/external stakeholders.
•  Strong knowledge of model regulatory requirements
•  5+ years of experience in risk management and/or Audit roles, with a strong focus on governance; exposure to modelling and analytics
•  Flexible, forward and independent thinking to identify and prioritize critical issues
•  People management experience, as well experience in working with a wide range of people; strong social skills

What’s in it for you?

• An inclusive & collaborative working environment that encourages creativity, curiosity, and celebrates success!
• We offer a competitive rewards package: Performance bonus, Employee Share Ownership Program, and Pension Plan Matching, Health Benefits from day one!
• Your career matters! You will have access to career development and progression opportunities.

Location(s):  Canada : Ontario : Toronto 

Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets.  

At Scotiabank, we value the unique skills and experiences each individual brings to the Bank, and are committed to creating and maintaining an inclusive and accessible environment for everyone. If you require accommodation (including, but not limited to, an accessible interview site, alternate format documents, ASL Interpreter, or Assistive Technology) during the recruitment and selection process, please let our Recruitment team know. If you require technical assistance, please click here. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at Scotiabank; however, only those candidates who are selected for an interview will be contacted.