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Senior Specialist, Model Governance

Sector: Risk 

Language Designation: English Essential 

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

Salary Range: $89823.44 to $112279.30

Position Status: Permanent Full Time 

 
We’re not your typical government agency
Canada Mortgage and Housing Corporation (CMHC) exists for a single reason: to make housing affordable for everyone in Canada. We’re mobilizing the expertise and energy of governments, non-profits, lenders, developers, social entrepreneurs and co-ops to create the future of housing. At CMHC, we believe that everyone in Canada should have a place to call home.
 
Experience a Results-Only Work Environment™ (ROWE™)
At CMHC, we trust you to get the job done. We’ve shifted from managing people to managing work. Each employee is 100% autonomous and 100% 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.
 
 

About the role
We’re constantly evolving to build an inclusive housing system through research, design, innovation and partnerships. You will be responsible for developing and maintaining the Model Risk Policy and related guideline. You will responsible for the continuous enhancement of the Model Risk Management framework by leading Model Risk Compliance Assessment and Attestation process. You will oversee and monitor the successful completion of assigned MG Action plans. You will directly, provide guidance and establish discussions with modelling community members, including those that owns MG Action plans. You will consult the MAP tool to ensure no new Action plan creates duplication of issues already subject to remediation.  You will be responsible for developing and maintaining Model Risk training materials and promoting open dialogue on best practices within the modelling community that will help us make housing affordable for everyone in Canada.
 
What you will need
• 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 five years of relevant experience in modeling governance or quantitative analytics at a bank, insurance company, asset manager or other types of financial institution.
• Superior oral and written communication skills including presentation skills.
• In-depth ability to write reports to convey information that is subject to interpretation.
• Ability to persuade, influence, and/or negotiate with colleagues, clients and senior management.
• Ability to research issues, analyze problems, synthesize information and make recommendations.
• Demonstrated experience in writing technical model governance assessment, risk management and, project management.
• Knowledge of OSFI enterprise-wide model risk management standards
• Knowledge of Model Risk governance requirements and applications.
• Bilingual (English & French) would be considered an asset.
• Awareness with various quantitative software such as SAS, R, Python, Igloo, VBA, etc.

 

What you will be doing

 

Risk Governance Oversight
• Leading and supporting the ongoing maintenance and improvement of Model Risk Policy and guideline, and developing consolidated oversight work plans, including, as applicable, objectives, risk assessments, criteria and monitoring/testing approaches/programs for the conduct of the assignment.
• Leading the execution of ongoing monitoring, testing, evaluating and reporting on Model key risk, controls and guideline requirements, assessing rigour and consistency in the application of Model Risk lens.
• Ensuring appropriate risk awareness, risk and control identification and monitoring by working closely with applicable members of the modelling community.
• Communicating with point of contact identified in each modelling function to remediate identified issues /gaps as part of the Annual Compliance assessment and attestation process, to ensure MAP are completed by the deadline.
• Recommending and assisting in the implementation of key performance indicators and/or risk indicators and/or outcome targets to improve business effectiveness and efficiency.
• Promoting and leveraging appropriate industry frameworks, standards and practices, as applicable, in conducting work activities.
• Participate in audit examinations, including coordinating requests for material, responding and developing remediation plans.


Analysis and Reporting
• Developing and overseeing the processes and practices for the collection, analysis and evaluation of information to achieve assignment objectives and to identify trends, gaps, errors and Model Risk exposures, and propose improvements necessary to reduce Model Risk.
• Producing annual model compliance result/report to senior executives and share results with MC and ExCo where appropriate.
• Report Model Risk incidence or non-compliance to ERM reporting team for reporting on the Quarterly Risk Management (QRM) and Risk appetite metric.
• Collaborating and reporting MG activities on the consolidated oversight Work plan SharePoint platform from a MG standpoint.
• Collaborating and participate in Model Inventory enhancement, reporting activities and Power BI reporting.
• Consulting the consolidated list of management action plans (MAPs) to coordinate required actions resulting from the Annual Model Compliance Assessment results. Identify any additions or amendments and eliminate any duplicate item in consultation with oversight peers. 


Guidance and Advice
• Providing authoritative advice to oversight peers, model developers, and management on the interpretation and application of Model Risk Management framework requirements and guidance
• Providing guidance on Model Risk and control matters, including remediation actions to address issues and make recommendations for improvements to management.
• Identifying and prioritizing opportunities for improvement where CMHC is at risk and recommend actions to improve effectiveness and efficiency.
• Providing guidance and training to modeling community regarding application of Model Risk Policy and Guideline and requirements.


Does this sound like you?
Click the “apply now” button and create an account (it should take about 30 seconds). We’re excited to hear from you! 

 

Posting closing date: August 8, 2019 @ 11:59 pm EST (Note, the competition may remain active until filled)

 

Job Requisition ID: 3785  

Primary Location: OttawaOntario  

Other Location(s):  

Security Requirement: Secret 

Travel Requirement: Occasional 

 

We sincerely thank all candidates for their interest, however, please note that only those applicants selected for further consideration will be contacted.
 
Diversity
CMHC is an employer that values diversity and encourages the learning and use of both Canada's official languages. CMHC is committed to employment equity and actively encourages application from women, Indigenous people, persons with disabilities and visible minorities
 
*If selected for an interview or testing, please advise us if you require an accommodation.

Learn more below about CMHC and how we help Canadians meet their housing needs.