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Senior Specialist, Modelling

Job Requisition ID: 3126  

Primary Location: OttawaOntario  

Other Location(s): multiple locations 

Sector: Risk 

Language Designation: English Essential 

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

Salary Range: $88496 to $110620

Position Status: Temporary Full Time 

Security Requirement: Secret 

Travel Requirement: Travel not required 

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 objective 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. Our work matters to a great many people and our employees matter to us. 

Bring your financial, mathematical, statistical and econometric techniques to this Senior Specialist, Modelling position.
In this exciting 12-month contract opportunity within the Homeowner Oversight & Risk Analytics’ modelling team, you will play a key role in CMHC’s capacity to model capital requirements, financial stress scenarios and play a significant role in risk modelling (e.g. economic capital, stress testing, etc.).  You will be identified as the subject-matter expert (SME) for one or more Corporate Class A models.  Class A models are models that have been identified through CMHC’s model governance framework as critical to the proper functioning of CMHC’s financial reporting, risk measurement and/or risk management processes, as well as having the highest level of complexity and sophistication in terms of specification and implementation.  As SME for a Class A model, you will be responsible to conduct research, evaluate proposal, develop model specifications, oversee calibration and updates, ensure appropriate validation, maintenance and documentation. 


How You Will Be Contributing

•    Providing deep and specialized expertise to develop CMHC’s Enterprise Models including but not limited to suite of risk, capital and stress testing models.
•    Proposing and developing new models in the areas of retail, credit, market, operational and liquidity risk and capital requirements estimation.
•    Ensuring appropriate documentation and maintenance for all models. 
•    Directing and overseeing the output of a team of modellers, programmers and analysts.
•    Ensuring that model outputs are provided in a timely manner to meet corporate financial reporting requirements.
•    Responding to ad-hoc modelling requests from internal and external stakeholders such as Management Committee members, Board members or OSFI or Department of Finance by developing accurate results, and using strong communication skills to promote understanding of the issue and provide appropriate interpretation and context.
•    Maintaining current knowledge on best practices and recent developments in relevant quantitative approaches and techniques through training and professional development activities.
•    Maintaining current knowledge of regulatory requirements in the areas of risk measurement and internal capital modelling.
•    Deliver training to CMHC management on Class A models, in order to fulfil ERM policy requirements relating to executive-level understanding of risk models.


What We Are Looking For

•    A commitment to demonstrating CMHC values.
•    Master’s degree in a quantitative discipline such as Quantitative Finance, Finance, Mathematics, Economics, Statistics, Actuarial Sciences, or Physics with a minimum of three (3) years of relevant work experience; or an equivalent combination of related education and experience may also be accepted.
•    A PhD is considered an asset.  
•    Demonstrated work experience in in a similar role in financial industry including banks, insurance companies, pension and endowment funds and etc. 
•    Associate or Fellow of the Canadian Institute of Actuaries, Casualty Actuarial Society, Society of Actuaries.
•    Designations from PRMIA, GARP, CFA, CAIA, or other comparable certifications.
•    Understanding of and demonstrated experience with mathematical finance methodologies, pricing and valuing derivative constructs, deep understanding financial aspects of credit methodologies, securitization process and risk analysis.
•    Advanced proficiency in programming with at least one of the programming languages: R, Python, SAS, C++, Matlab.
•    Ability to work independently with minimal supervision on technical aspects requiring independent research and implementation stages.  
•    Strong communication, presentation, and collaboration skills at all levels of the organization. Good personal, interpersonal skills and ability to contribute in a team working environment.
•    Results oriented, accountable for performance, and taking complete ownership of projects 
•    Knowledge of CMHC's business, mandate and objectives.
•    Knowledge of regulatory requirements and best practices with respect to economic capital targets and estimation.


APPLY today
This job posting will be active until 11:59 pm EDT on December 16, 2018, however, the competition may remain active until a successful candidate has been chosen.


To Note

  • Your application must clearly demonstrate how you meet the requirements as CMHC cannot make assumptions about your education and experience.
  • 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.
  • 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 or testing, please advise us if you require an accommodation.
  • 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 salary range than is advertised for this position.
  • 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.
  • Candidates must be eligible for Reliability Clearance.
  • Second Language Proficiency levels are defined as follows:
    • A = Beginner Level
    • B = Intermediate Level
    • C = Advanced Level
    • E = Exempt
    • P = Specific Language Skills



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

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