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About the Role

The Associate Director, REM Modelling is responsible for developing, enhancing, implementing, and monitoring quantitative models for the Bank's Reverse Mortgage (REM) business. This role provides actuarial and analytical leadership for portfolio forecasting, risk quantification, capital assessment, stress testing, pricing analytics, and strategic decision-making, leveraging advanced actuarial, statistical, and predictive analytics techniques.

Responsibilities

Lead the development, enhancement, and ongoing maintenance of quantitative models supporting the Reverse Mortgage portfolio.
Develop forecasting models for reverse mortgage balances, portfolio growth, loan-to-value (LTV) evolution, profitability, and portfolio performance.
Design and maintain actuarial and predictive models related to borrower longevity, mortality, voluntary move-out behaviour, prepayment activity, and property disposition assumptions.
Develop and maintain house price appreciation and property value forecasting methodologies supporting portfolio risk assessments.
Build analytical frameworks used to evaluate capital requirements, stress testing outcomes, and portfolio resilience under adverse economic scenarios.
Develop behavioural and scenario-based forecasting models to support strategic planning, budgeting, and long-range business forecasts.
Assess emerging trends and risks impacting the reverse mortgage portfolio, including housing market dynamics, demographic changes, longevity risk, and interest rate environments.
Perform model recalibrations, performance monitoring, back-testing, benchmarking, and remediation activities.
Develop risk-based pricing analytics and profitability models to support business strategy and product optimization.
Support portfolio management and business decision-making through advanced analytics and risk insights.
Partner with Technology and Data teams to implement modelling solutions within production environments.
Ensure model documentation is complete, transparent, and validation-ready.
Support internal audits, regulatory reviews, and model validation activities by providing technical expertise and documentation.
Develop and maintain Reverse Mortgage stress testing methodologies and scenario frameworks.
Support capital adequacy assessments related to reverse mortgage exposures.
Quantify the impact of changes in property values, interest rates, longevity assumptions, and borrower behaviour on portfolio performance.
Support enterprise stress testing and capital planning initiatives as they relate to the REM portfolio.
Act as a subject matter expert on reverse mortgage analytics and actuarial modelling.
Promote best practices across model development, governance, validation, and documentation.
Evaluate emerging modelling methodologies, tools, and industry practices.
Provide technical guidance and challenge to modelling initiatives across Risk Analytics.
Develop strong relationships with leaders across Reverse Mortgages, Credit Risk, Finance, Treasury, Risk Management, and Technology.
Translate complex modelling outputs into actionable business insights for senior stakeholders.
Communicate model limitations, assumptions, risks, and results clearly to technical and non-technical audiences.
Escalate significant risks, model limitations, and issues to senior management when required.

Requirements

Bachelor’s degree in actuarial science, Mathematics, Statistics, Economics, Financial Mathematics, Data Science, or a related quantitative discipline.
7+ years of experience in actuarial modelling, predictive analytics, risk modelling, or quantitative analytics within financial services.
Experience developing forecasting and portfolio risk models.
Strong understanding of actuarial methodologies including mortality, longevity, survival analysis, risk forecasting, and stochastic modelling.
Experience working with mortgage, lending, insurance, or consumer finance portfolios considered a strong asset.
Advanced knowledge of statistical modelling, predictive analytics, and machine learning techniques.
All candidates considered for hire must successfully complete a criminal background check and credit check.

Skills

Quantitative models
Reverse Mortgage (REM) business
Actuarial leadership
Portfolio forecasting
Risk quantification
Capital assessment
Stress testing
Pricing analytics
Strategic business decision-making
Subject matter expert in reverse mortgage modelling
Advanced actuarial techniques
Statistical techniques
Predictive analytics techniques
Mortality modelling
Longevity modelling
Survival modelling
Stochastic modelling
Financial services environment
Model governance
Model documentation
Model validation
Behavioural forecasting models
Scenario-based forecasting models
Housing market dynamics
Demographic changes
Longevity risk
Interest rate environments
Model recalibrations
Performance monitoring
Back-testing
Benchmarking
Remediation activities
Risk-based pricing analytics
Profitability models
Portfolio management
Business decision-making
Advanced analytics
Risk insights
Technology integration
Data integration
Production environments
Internal audits
Regulatory reviews
Technical expertise
Capital adequacy assessments
Portfolio resilience
Adverse economic scenarios
Enterprise stress testing
Capital planning
Technical leadership
Best practices in model development
Model governance
Model validation
Model documentation
Emerging modelling methodologies
Modelling tools
Industry practices
Technical guidance
Stakeholder relationship management
Credit Risk
Finance
Treasury
Risk Management
Technology
Actionable business insights
Communication
Model limitations
Model assumptions
Model risks
Technical audiences
Non-technical audiences
Risk escalation
Issue escalation
Senior management communication
Actuarial science
Mathematics
Statistics
Economics
Financial Mathematics
Data Science
Associate or Fellow actuarial designation (ACIA, FCIA, ASA, FSA or equivalent)
Master's degree in a quantitative discipline
Predictive analytics
Machine learning techniques

Location

Toronto, ON

Work Type

Hybrid

Experience Level

7+ years of experience
Associate Director

Education Level

Bachelor’s degree in actuarial science, Mathematics, Statistics, Economics, Financial Mathematics, Data Science, or a related quantitative discipline.
Associate or Fellow actuarial designation (ACIA, FCIA, ASA, FSA or equivalent) strongly preferred.
Master's degree in a quantitative discipline is considered an asset.

Benefits

Competitive discretionary bonus
Market leading RRSP match program
Medical, dental, vision, life, and disability benefits
Employee Share Purchase Plan
Maternity/Parental top-up while you care for your little one
Generous vacation policy and personal days
Virtual events to connect with your fellow colleagues
Professional development and comprehensive Career Development program

About the Company

At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.
We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.
EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

Equal Opportunity

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.
We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.
As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team.