Senior Model Validation Analyst

  • Competitive
  • Toronto, ON, Canada
  • Permanent, Full time
  • Canada Mortgage and Housing Corporation (CMHC)
  • 10 Oct 17 2017-10-10

Bring your in-depth analytical skills, model development and validation (vetting) experience to these Senior Analyst, Model Validation positions located in Ottawa and/or Toronto, Ontario.

Canada Mortgage and Housing Corporation (CMHC) helps Canadians meet their housing needs. As Canada’s authority on housing, we contribute to the stability of the housing market and financial system, provide support for Canadians in housing need, and offer unbiased housing research and advice to Canadian governments, consumers and the housing industry. Prudent risk management, strong corporate governance and transparency are cornerstones of our operations.

Bring your in-depth analytical skills, model development and validation (vetting) experience to these Senior Analyst, Model Validation positions located in Ottawa and/or Toronto, Ontario. 

As a member of the Model Validation team, you will be responsible for validating CMHC’s models.  Reporting to the Manager, Model Validation, you will perform quantitative and qualitative validation of models developed to assess, analyze and manage insurance and financial risks. You will provide expertise and advice regarding advanced modelling techniques and applications as well as ensure that model methodology and implementation meet regulatory and internal policies.

We are currently hiring for the following full-time positions:

  • One (1) level 10 position as a one year contract with possibility of an extension
  • One (1) permanent level 10 position
  • One (1) permanent level 11 position

The position of Senior Analyst, Model Validation has two (2) salary levels at CMHC.  The level ten (10) salary level ranges from $82, 706 to $103,376.  The level eleven (11) salary level ranges from $95,082 to $118,846).  The requirements listed in this poster are for a level 11 position.  If a candidate is short in certain experience requirements, they may be considered for a level 10 position.

The intent of this advertisement is to identify and assess qualified candidates to staff both current and future permanent and contract positions in various divisions. We invite all suitable candidates to apply.

How You Will Be Contributing

  • Carry out large-scale projects that impact CMHC’s model development and risk management practices.
  • Assessing model soundness and risk in both approach and usage.
  • Building models (financial, pricing, risk, econometric, forecasting, actuarial) to benchmark or replicate the results of the model to be vetted.
  • Providing written and verbal recommendations and in-depth analytical reports on model reviews;
  • Developing solutions using substantial creativity, resourcefulness, innovation, negotiation and diplomacy.
  • Making sound and balanced decisions on complex issues and providing expertise to ensure the Corporation is not at undue risk.
  • Leading projects that consist of identifying key model risks and controls, evaluating the effectiveness and adequacy of the modelling environment.
  • Maintaining current model validation best practices and changes in the operating environment.
  • Planning and coordinating work plans to ensure model reviews are completed as planned.

What We Are Looking For

  • A commitment to demonstrating CMHC values.
  • Advanced degree (PhD or Masters) in Quantitative Finance, Mathematics, Statistics, Computer Science, Actuarial Science, Finance, Economics or other quantitative field and a minimum of 5 years of relevant experience OR an equivalent combination of education and experience.
  • Extensive hands-on experience in researching, developing and implementing quantitative models for measuring, analyzing and managing financial and insurance risks.
  • Demonstrated experience with statistical and econometric models.
  • Experience and advanced skills in assessing the work of other experts.
  • Advanced theoretical and specialized knowledge of a broad range of quantitative models used within a financial institution.
  • In-depth knowledge of and background in financial economics, financial engineering and modelling, financial mathematics, statistics and actuarial science.
  • Knowledge of mortgage loan insurance and securitization activities.
  • Knowledge of Basel III capital rules and risk management standards and IAIS capital standards.
  • Knowledge of risk approaches to capital models and experience in their applications.
  • Knowledge of spreadsheet, database, mathematical and/or related financial/actuarial software applications and programming languages.
  • In-depth ability to write reports to convey information that is subject to interpretation.
  • Ability to persuade, influence, and/or negotiate with colleagues and senior management.
  • Ability to research issues, analyse problems, synthesize information and make recommendations.

Assets:

  • Associate or Fellow of the Canadian Institute of Actuaries, Casualty Actuarial Society or Society of Actuaries.
  • Demonstrated experience with mortgage valuation, retail lending, and derivative pricing, scorecard development, and risk models.

Core Competencies

Client Focus/ Innovation/ Valuing and Respecting Individuals

Functional Competencies

Analytical Thinking/Efficiency/Communication/Teamwork/Project Management

What CMHC Has To Offer

  • Competitive Total Compensation package
  • Competitive Annual Salary
  • Comprehensive flex benefit program
  • Defined Contribution Pension Plan
  • Eligibility for Performance Bonuses
  • In-house learning and development opportunities
  • Career Growth Opportunities
  • Employee and Family Assistance Program (EFAP)
  • New Hire Mentorship Program
  • Various onsite amenities

APPLY today

Please visit our website at www.cmhc.ca/careers to apply online for this employment opportunity (Competition No. 7070).

This job posting will be active until 11:59 pm EDT October 29, 2017, however, the competition may remain active until a successful candidate has been chosen.

To Note

  • We sincerely thank all candidates for their interest, however, please note that only those applicants selected for further consideration will be contacted.  If selected for an interview, please advise us if you require an accommodation.
  • Selected candidates may be required to do a presentation or assessment as part of the interview. If so, they will be advised in advance.  In the event that tests are administered, candidates will also be advised in advance.
  • Candidates must be eligible for Reliable Clearance.
  • Candidates who do not meet all of the position requirements may be considered in an under-fill capacity, in which case the person will be hired at a lower level than the position level.
  • All applications submitted to this competition will be kept for a six (6) month period and may be considered for future related vacancies at CMHC.
  • CMHC is also open to an Interchange agreement with the Federal Public Service, other Crown Corporations, Separate Agencies and the private institutions.