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About the Role
Questrade Financial Group (QFG) is seeking a Senior Manager, Model Validation to lead the validation of AI/ML and credit risk models. This role is crucial for ensuring models are sound, fair, unbiased, statistically robust, and compliant with regulatory requirements, ultimately transforming customer experiences through AI.
Responsibilities
- Lead and execute independent validation of complex AI/ML and credit risk models.
- Ensure models are conceptually sound, fair, unbiased, statistically robust, and compliant with regulatory requirements (e.g., OSFI E-23).
- Define the scope of model validation projects, develop validation plans, and manage projects to completion.
- Apply advanced statistical and machine learning techniques to assess model performance and identify weaknesses.
- Propose remediation strategies for model weaknesses.
- Enforce scientific rigor and ethical practices across all AI/ML initiatives.
- Evaluate model risk, including conceptual soundness, data quality, implementation, and performance monitoring.
- Prepare comprehensive validation reports documenting the process, findings, and recommendations.
- Present validation results to model owners, business stakeholders, and senior management.
- Effectively communicate validation findings and recommendations to stakeholders.
- Collaborate with stakeholders to address model weaknesses and improve model performance.
- Stay abreast of current and emerging regulatory requirements and industry best practices related to model risk management.
- Provide guidance and mentorship to junior model validators.
- Foster a culture of continuous learning and development.
- Identify opportunities to improve the model validation process and enhance model risk management effectiveness.
- Evaluate the quality and suitability of data used in model development and validation.
- Ensure adherence to data governance policies.
Requirements
- Masters or PhD degree in a quantitative field such as Statistics, Mathematics, Econometrics, Financial Engineering, or Computer Science.
- Minimum 7+ years of experience in model development, validation, or risk management within the financial services industry.
- Focus on credit risk and/or AI/ML models.
- Strong understanding of credit risk modeling techniques, including credit scoring and origination models, account management models, and Expected Credit Loss (ECL) models (IFRS 9).
- Proficiency in statistical modeling and machine learning algorithms.
- Experience with model validation methodologies and best practices.
- Strong programming skills in statistical software packages such as R, Python, or SAS.
- Excellent written and verbal communication skills.
- Ability to effectively communicate complex technical concepts to both technical and non-technical audiences.
- Strong analytical and problem-solving skills.
- Ability to work independently and as part of a team.
- Knowledge of Canadian regulatory requirements for financial institutions (e.g., OSFI E-23) is highly desirable.
- Experience with credit card and mortgage portfolios is highly desirable.
- Experience with cloud-based model development and deployment is an asset.
Skills
- AI/ML model validation
- Credit risk model validation
- Statistical modeling
- Machine learning algorithms
- Model development
- Risk management
- Regulatory requirements (OSFI E-23)
- R
- Python
- SAS
- Communication skills
- Analytical skills
- Problem-solving skills
- Credit risk modeling
- Credit scoring
- Account management models
- Expected Credit Loss (ECL) models
- IFRS 9
- Cloud-based model development
- Cloud-based model deployment
Location
- Canada
Work Type
- Hybrid
- Full-Time Permanent
Experience Level
- Senior Manager
- 7+ years of experience
Education Level
- Masters or PhD degree in a quantitative field
Salary/Compensations
- $140,000 - $180,000
Benefits
- Health & wellbeing resources and programs
- Paid vacation, personal, and sick days
- Competitive compensation and benefits packages
- Competitive incentive (bonus) program
About the Company
- Questrade Financial Group (QFG) provides securities and foreign currency investment, professionally managed investment portfolios, mortgages, real estate services, financial services and more.
- QFG uses cutting-edge technology to help Canadians become much more financially successful and secure.
- QFG combines human-centric collaboration with AI-driven innovation to redefine financial services.
- QFG is a diverse, inclusive, and hybrid workplace.
- Questrade Financial Group of Companies Applicant Tracking System utilizes artificial intelligence (AI) for application screening.
Equal Opportunity
- At Questrade Financial Group of Companies, with multiple office locations around the world, we are committed to fostering a diverse, inclusive and accessible work environment.
- This is an environment where individuals are treated with dignity and respect.
- Here, the unique skills and experience you bring will be valued.
- You will be supported and motivated, so that you can harness your unlimited potential.
- Our team reflects the diversity of the communities we serve and operate in.
- Having a collaborative and diverse team helps us push boundaries to bring the future of fintech into existence—not only for the benefit of our customers, but for those who build their career with us.
- If you require accommodation during the recruitment/selection process, please let us know and we will work with you to meet your needs.