Model Validation Advisor/ Senior Advisor

  • 33499
  • Non-Life - Other
  • |
  • Ontario, Canada
  • |
  • Apr 9, 2018
  • Develops understanding of the business area and function that uses the Model, and the impact of the Model output on the business decisions;
  • Manages stakeholder relationships to ensure Model Validation findings and recommendations are appropriately informed by business purpose and context;
  • 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 a Model Validation report 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 and contributes to the development and implementation of methodologies to promote standard business rules and better identify and assess Model Risk.
  • Undergraduate degree in Mathematics, Computer Science, Finance within a quantitative discipline or related discipline;
  • Minimum of 5 years or 7 years of experience in quantitative risk management;
  • Expert knowledge of, and/or broad experience in at least one of the domains:
  • Insurance pricing and reserving;
  • Econometrics and economic forecasting;
  • Asset and portfolio management modeling;
  • Expert-level knowledge of risk management principles and practices;
  • Strong foundation in probability, time series modeling and statistical analysis;
  • Proficiency with SAS and/or other data software like R or C/C++/C#, Python, Matlab, Database (Oracle, SQL etc.)Model validation experience.
  • Assets:
  • Bilingual in both official languages (French and English);
  • Professional designations such as Fellow of the Actuarial Society, Financial/Professional Risk Manager;
  • A graduate degree in a quantitative discipline (e.g. Applied/Actuarial Mathematics/Statistics/Finance).