Share this Job

At CMHC, we trust you to get the job done. Since January 2019, we’ve shifted from managing people to managing work. Each employee is 100% autonomous and accountable. You can choose where you need to be and when you need to be there to meet your objectives. You’re in control of your time and are trusted to make the right decisions.

Senior Specialist, Modelling (Position can be located anywhere in Canada)

Job Requisition ID: 8220  

Language Designation: English Essential 

Language Skill Levels (Read/Write/Speak): ZZZ 

Starting Base Salary: 94388.91 

Position Status: Permanent Full Time 

Travel Requirement: Limited 

Office Location: Ottawa (ON); Calgary (AB); Halifax (NS); Montreal (QC); Toronto (ON); Vancouver (BC)

 

Help make a difference for Canadians. CMHC’s aspiration is that by 2030, everyone in Canada has a home that they can afford and that meets their needs. All of our programs and activities support this singular goal.
 

Join the Capital Markets and Treasury Oversight & Risk Analytics division, where we use financial risk oversight to monitor and support financial stability mandate.

 

Responsibilities: 

 

  • Performing validation of different models including pricing, actuarial, credit risk, economic capital and stress testing, and machine learning models to assess model fitness for purpose and performance.
  • Designing and implementing statistical tests to assess model sensitivity, robustness, and (ongoing) performance.
  • Assessing model soundness and risk in both approach and usage.
  • Monitoring model performance to ensure ongoing quality, and proactively identify opportunities to improve existing models and analytical tools.
  • Drafting comprehensive validation report and discussing model issues with different stakeholders (model owners, developers, users, etc.).
  • Making sound and balanced decisions on complex issues and providing expertise to ensure the Corporation is not at undue risk.
  • Helping improve model validation procedures and model risk governance to reflect industry best practices.

 

Minimum Qualifications:

 

  • Postgraduate degree (Masters or PhD) in Quantitative Finance, Mathematics, Statistics, Computer Science, Actuarial Science, Finance, Economics or other quantitative field OR an equivalent combination of education and experience.
  • Minimum of three years of relevant experience in modelling/validation or quantitative analytics at a bank, insurance company, asset manager or other types of financial institution.
  • Demonstrated experience with actuarial, statistical and econometric models.
  • Demonstrated knowledge and experience with various quantitative software such as SAS, R, Python, Igloo, VBA, etc.
  • Knowledge of mortgage loan insurance and securitization activities.
  • Knowledge of OSFI capital rules and risk management standards and IAIS capital standards.
  • Demonstrated experience in writing technical modelling or validation reports.
  • Ability to persuade, influence, and/or negotiate with colleagues, clients and senior management.
  • Ability to research issues, analyse problems, synthesize information and make recommendations.

 

Preferred Qualifications (Assets):

 

  • Professional designation (Actuarial, Chartered Financial Analyst, Professional Risk Manager, Financial Risk Manager, Certificate in Quantitative Finance, etc.).
  • Demonstrated experience with mortgage insurance, retail lending, scorecard development, economic capital, and stress testing.
  • Hands-on experience of machine learning models on Python, R.
  • Experience with Machine Learning algorithms and Probabilistic Modelling.
  • Bilingual (English & French).

 

Posting closing date: Note, the competition may remain active until filled

 

IMPORTANT NOTICE – COVID-19 MEASURES

 

On June 14, 2022, the Government of Canada announced that as of June 20, 2022, it will suspend vaccination requirements for federal government employees.  This decision followed a review of the current public health situation, including the evolution of the virus and vaccination rates in Canada. As a result, and consistent with the Government of Canada decision, CMHC has suspended its Vaccination Policy, effective June 20, 2022.  

 

As a result, at this time, CMHC does not require employees to be fully vaccinated as a condition of employment.  CMHC will continue to monitor the public health situation and may at any time make adjustments and adopt or reintroduce measures, including mandatory vaccination, attestation and verification requirements. Any such vaccination measures, as updated from time to time, shall form a term and condition of your employment at CMHC.

 

CMHC is an inclusive workplace where diversity of thought – and of people – are recognized, valued, and considered essential to achieving our aspiration.

 

We are committed to employment equity and actively encourage applications from women, Indigenous Peoples, persons with disabilities, veterans and persons of all races, ethnicities, religions, abilities, sexual orientations, and gender identities and expressions. We also welcome applications from non-Canadians who are eligible to work in Canada.

 

We sincerely thank all candidates for their interest, however, please note that only applicants selected for further consideration will be contacted. If selected for an interview or testing, please advise us if you require an accommodation.