Senior Analyst, Quantitative Model Validation (Model Vetting)
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Key skills for this role
About the Role
TMX Group seeks a Senior Analyst for Model Validation to perform quantitative and qualitative validation of risk models and non-models for Post Trade subsidiaries. You will assess model soundness, build benchmarking models, and ensure compliance with regulatory requirements.
Key Skills for This Role
Responsibilities
- Assess model and non model soundness and risk from technical and functional perspectives, evaluating conceptual soundness, performance, and ongoing monitoring
- Build financial, risk, pricing, econometric, and forecasting models to benchmark or replicate the results of models being validated
- Make rigorous and balanced decisions on complex issues and provide expertise to ensure TMX Group’s entities are not at undue risk
- Participate in projects to identify key model risks and controls and assess the soundness of the modelling environment
- Carry out the validation of Post Trade’s new risk system related models and non models
- Participate in the development and update of the Models and Non Model Risk Policy and methodology
- Prepare validation reports and presentations for regulators and executive risk committees
- Coordinate work plans and collaborate with internal stakeholders to ensure reviews and monitoring are completed as planned
- Ensure programs are consistent with worldwide best practices and contribute to the legal and risk department's efficiency
Requirements
- Master’s degree in Finance, Statistics, Mathematics, Economics, or other quantitative fields
- 2+ years of relevant experience in researching, developing, and implementing quantitative models
- Advanced knowledge of programming tools such as Python and/or Matlab
- Ability to identify issues, analyze problems, and provide in depth written reports and recommendations
- Proven ability to manage multiple projects and priorities concurrently in a fast paced environment
- Demonstrates a high degree of integrity and ethical conduct
- Knowledge of SQL, VBA, Power BI, or Tableau (nice to have)
- Knowledge of regulatory requirements such as PFMI, OSFI, or EMIR Guidelines (nice to have)
- Experience in the technology and financial services industry (nice to have)
Full Job Posting
Role Summary
- The Senior Analyst, Model Validation performs quantitative and qualitative validation of models and non models developed to assess and analyze market, credit, liquidity, and financial risks.
- As a member of the independent Model Validation team, you are responsible for validating the soundness of TMX Group subsidiaries’ risk models.
- You will provide expertise and advice regarding advanced modelling techniques and applications, ensuring that model methodology and implementation meet regulatory requirements and internal policies.
Key Accountabilities
- Model Assessment: Assess model and non model soundness and risk from technical and functional perspectives, evaluating conceptual soundness, performance, and ongoing monitoring.
- Benchmarking: Build financial, risk, pricing, econometric, and forecasting models to benchmark or replicate the results of models being validated.
- Risk Mitigation: Make rigorous and balanced decisions on complex issues and provide expertise to ensure TMX Group’s entities are not at undue risk.
- Project Leadership: Participate in projects to identify key model risks and controls and assess the soundness of the modelling environment.
- Post Trade Validation: Carry out the validation of Post Trade’s new risk system related models and non models.
- Policy Development: Participate in the development and update of the Models and Non Model Risk Policy and methodology.
- Reporting: Prepare validation reports and presentations for regulators and executive risk committees.
- Collaboration: Coordinate work plans and collaborate with internal stakeholders to ensure reviews and monitoring are completed as planned.
- Continuous Improvement: Ensure programs are consistent with worldwide best practices and contribute to the legal and risk department's efficiency.
Must Haves
- Education: Master’s degree in Finance, Statistics, Mathematics, Economics, or other quantitative fields.
- Experience: 2+ years of relevant experience in researching, developing, and implementing quantitative models.
- Technical Proficiency: Advanced knowledge of programming tools such as Python and/or Matlab.
- Analytical Rigor: Ability to identify issues, analyze problems, and provide in depth written reports and recommendations.
- High Performance Execution: Proven ability to manage multiple projects and priorities concurrently in a fast paced environment.
- Professionalism: Demonstrates a high degree of integrity and ethical conduct.
Nice To Haves
- Knowledge of SQL, VBA, Power BI, or Tableau.
- Knowledge of regulatory requirements such as PFMI, OSFI, or EMIR Guidelines.
- Experience in the technology and financial services industry.
Salary Range
- Salary Range: 100,000/year 130,000/year CAD
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