Description
A career as a Head of Model Risk Management in the Capital Markets and Treasury Management Risk team at National Bank means acting as a strategic leader for both enterprise-wide model risk governance and independent model validation. This role is central to reshaping how the Bank manages model risk in light of evolving expectations (including OSFI Guideline E‑23), the rapid growth of AI/ML, and expanding reliance on models in areas such as financial crime, fraud, and advanced analytics. This job allows you to have a positive impact on our organization through deep model risk expertise and a demonstrated ability to build, lead, and transform high-performing teams.
Your role
- Lead and transform model risk management by defining and executing a multi‑year strategy aligned with E‑23, modernizing practices across model families (including AI/ML, financial crime/fraud, and capital markets/treasury).
- Own and continuously improve the Bank’s model risk management framework, policies, and end‑to‑end lifecycle governance (definition/scope, tiering, approval, change management, monitoring, use restrictions, and decommissioning).
- Maintain and enhance the enterprise model inventory to ensure completeness, accurate classification/tiering, clear ownership, and timely updates for new models, changes, and retirements across all business areas.
- Direct independent validation of key models, setting rigorous, risk‑based standards (conceptual soundness, data/assumptions, implementation verification, outcomes testing, benchmarking/back-testing where applicable) and ensuring consistent documentation quality and timely escalation.
- Drive effective findings management and remediation tracking to closure; design an efficient resourcing model (internal and third‑party), oversee external validation and vendor-model reliance where applicable, and improve productivity, automation, and tooling.
- Act as the main contact for model risk matters: lead regulatory and audit interactions, partner with model owners and stakeholders to strengthen risk culture, and promote responsible model use and ethical AI.
Your team
Within the Model Risk Management department, you report to the Senior Vice‑President, Capital Markets and Treasury Management Risk. This is a highly visible leadership role at the centre of National Bank of Canada’s risk, analytics, and AI agenda, with regular engagement with senior executives, governance committees, and regulators.
Requirements
- Graduate degree in a quantitative discipline.
- Extensive experience in model risk management, independent model validation, model development, or quantitative risk within financial services.
- Significant leadership experience managing quantitative teams with enterprise-wide or multi-line responsibility and delivering transformational change.
- Deep understanding of risk, capital markets, and treasury/ALM models, including methodologies, data requirements, and common limitations/controls.
- Strong knowledge of model risk regulations and guidance applicable to Canadian federally regulated financial institutions (including OSFI Guideline E-23)
- Exceptional communication skills, with the ability to engage, influence, and provide effective challenge to senior business leaders, governance committees, and regulators.
- Proven ability to build, develop, and motivate diverse teams, and to raise standards through coaching, accountability, and talent development.
