Requisition ID: 265594

Employee Referral Program – Potential Reward: $0.00

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Purpose

The Global Model Risk Management area provides independent and consistent model validation and approval across various risk types, including market risk, retail/non-retail credit risk, operational risk, capital models, Anti Money Laundering (AML) and other key risk/financial models.

The senior analyst provides support to manager/senior manager in the validation and governance across the enterprise wide model inventory.. This position entitles activities related to model validation work including data management and model quality assurance testing/validation to establish overall soundness of risk measurement, delivery of various ad-hoc validation assignments, collaboration with the model development teams and business lines, and communicating results to model owners, ensuring compliance with internal framework and regulatory requirements. He/she may also communicate and negotiate with the different counterparties regarding issues identified during this processes.

Accountabilities

• Validate models across various risk types. For the model being validated, review the methodology implemented for reasonableness and applicability, assess soundness of model methodology, review the architecture of the software application implementing the model, perform quantitative tests and qualitative assessments of the model, execute independent calculations, and analyze/interpret model output and responsible for completing draft validation..
• Conduct comprehensive review of the data and model risk governance activities by tracking progress, , including the independent replication of data extraction from SAS MRM and data manipulation steps, as well as assessing the suitability and sanity of the data sources.
• Asses regulatory requirements and develop and maintain policy addendums to Global Model Risk Management policies, ensuring alignment with global governance standards across jurisdictions and evolving regulatory expectations applicable to advanced analytics and AI.
• Establish communication with model validator/owner/developers to understand model rationale and issues; maintain relationship with key contacts as identified for each validation.
• Maintain collaborative relationship with clients
• Provide support to Senior manager to respond to ad hoc, regulatory and reporting to enable effective governance oversight, regulatory and audit responses, and management information needs
• Recommend and contribute to innovation and continuous improvements to tests/methods to fulfill internal validation and governance needs and to align (if applicable) with industry practices
• Support Senior Manager in keeping the inventory system updated by executing data quality controls, consistency checks and quality assurance standard on the enterprise wide model inventory, and proactively identify data issues and escalate findings, supporting remediation and continuous improvements.
• Comply with internal policies, procedures, and regulatory requirements where applicable.
• Provide support to resolve outstanding audit and regulatory issues, and to respond to ad hoc senior management and regulatory requests.

Education / Experience / Other Information

• 1.5 year of experience in the data management or data architect, with familiarity and comfort in handling large data
• 1+ year of experience in Risk Management, Model Risk Management, Audit, Compliance or related functions involving risk identification, oversight, monitoring and reporting or development and/or validation of risk and/or financial models preferred.
• Knowledge of risk predictive models, time series and mathematical statistics preferred.
• Exposure or experience in other risk functions such as credit risk, provision models, market risk, or operational risk management also desirable.

Required Functional (Technical) Competencies:

• Sound understanding of various modelling techniques and comfortable to conduct various testing
• Working knowledge of statistical techniques and proven ability to employ these to analyze large sets of data
• Ability to effectively utilize relational database and SQL queries for data analysis.
• Proficiency in construction and executing distributed queries from a variety of databases/sources is required
• Excellent verbal and written communication skills.
• Hands on programming skills, particularly statistical and database modeling tools (SQL, SAS, R, Python or similar). Ability to adapt to various programming languages and environments.
• Knowledge of financial risk management, especially issues and techniques pertaining to model risk management – including their practical implications and limitations is desirable.
• Excellent verbal and written communication skills
• Ability to speak and write in English B2.

Working Conditions

• Work in a standard office-based environment; non-standard hours are a common occurrence.

#LI-hybrid

Location(s): Colombia : Bogota : Bogota

Scotia GBS is a Scotiabank Group company located in Bogota, Colombia created to support different processes of the Bank and the development and execution of its global services strategy in 15 countries in the Americas. It is composed of 7 service units. We offer an inclusive, positive work environment, and competitive benefits.

At ScotiaGBS, we value the unique skills and experiences each individual brings to the Bank and are committed to creating and maintaining an inclusive and accessible environment for everyone. Candidates must apply directly online to be considered for this role. We thank all applicants for their interest in a career at ScotiaGBS; however, only those candidates who are selected for an interview will be contacted.