Senior Manager, Model Validation; Questbank

Questrade Financial Group (QFG) through its companies – Questrade, Questbank, Questrade Wealth Management, Community Trust Company, Zolo, and Flexiti – provides a broad range of financial services including securities, foreign currency investment, professionally managed investment portfolios, mortgages, real‑estate services, and more.

• Health & wellbeing resources and programs
• Paid vacation, personal, and sick days for work‑life balance
• Competitive compensation and benefits packages
• Work‑life balance in a hybrid environment with at least 3 days in office
• Career growth and development opportunities
• Opportunities to contribute to community causes
• Work with diverse team members in an inclusive and collaborative environment

We are seeking a highly motivated Senior Manager to lead the validation of AI/ML and credit risk models within our Risk Management department. This critical role will be responsible for independently validating a wide range of models, including those used for credit card and mortgage origination, account management, and Expected Credit Loss (ECL) calculations.

• Lead and execute independent validation of complex AI/ML and credit risk models ensuring they are conceptually sound, fair, unbiased, statistically robust, and compliant with regulatory requirements (e.g., OSFI E-23).
• Define the scope of model validation projects, develop validation plans, and manage projects to completion within established timelines and budgets.
• Apply advanced statistical and machine learning techniques to assess model performance, identify potential weaknesses, and propose remediation strategies.
• Enforce scientific rigor and ethical practices across all AI/ML initiatives.
• Evaluate model risk, including conceptual soundness, data quality, implementation, and performance monitoring.
• Prepare comprehensive validation reports documenting the validation process, findings, and recommendations. Present validation results to model owners, business stakeholders, and senior management.
• Effectively communicate validation findings and recommendations to model developers, business units, and senior management. Collaborate with stakeholders to address model weaknesses and improve model performance.
• Stay abreast of current and emerging regulatory requirements and industry best practices related to model risk management, particularly in the areas of AI/ML and credit risk.
• Provide guidance and mentorship to junior model validators, fostering a culture of continuous learning and development.
• Identify opportunities to improve the model validation process and enhance the effectiveness of model risk management.
• Evaluate the quality and suitability of data used in model development and validation, ensuring adherence to data governance policies.

• Masters or PhD degree in a quantitative field such as Statistics, Mathematics, Econometrics, Financial Engineering, or Computer Science.
• Minimum 7+ years of experience in model development, validation, or risk management within the financial services industry, with a focus on credit risk and/or AI/ML models.
• Strong understanding of credit risk modeling techniques, including:
  • Credit scoring and origination models
  • Account management models
  • Expected Credit Loss (ECL) models (IFRS
    9)
• Proficiency in statistical modeling and machine learning algorithms.
• Experience with model validation methodologies and best practices.
• Strong programming skills in statistical software packages such as R, Python, or SAS.
• Excellent written and verbal communication skills, with the ability to effectively communicate complex technical concepts to both technical and non‑technical audiences.
• Strong analytical and problem‑solving skills.
• Ability to work independently and as part of a team.
• Knowledge of Canadian regulatory requirements for financial institutions (e.g., OSFI E-23) is highly desirable.
• Experience with credit card and mortgage portfolios is highly desirable.
• Experience with cloud‑based model development and deployment is an asset.

• Base salary range: $140,000 - $180,000
• The final compensation package will be commensurate with the successful candidate’s experience, skills, and geographic location (Canada). It includes a comprehensive benefits plan and a competitive incentive (bonus) program for full‑time permanent roles.

If you require accommodation during the recruitment/selection process, please let us know and we will work with you to meet your needs.