Job Description
Job Overview
Position within the Model Validation (MV) group, a centralized model risk management function. The Retail model validation team vets and approves models used to measure risk exposure and calculate risk capital for retail and trading products. Objective and independent evaluation of models is critical to risk measurement and management across TD Bank Group.
Location, Hours, and Team
Work Location: Toronto, Ontario, Canada
Hours: 37.5 per week
Line Of Business: Analytics, Insights, & Artificial Intelligence
Pay Details
Salary range: $91,200 – $136,800 CAD
TD is committed to fair and equitable compensation opportunities. Base pay offered may vary based on candidate skills, experience, location, and business needs. As a candidate, you are encouraged to discuss compensation with your recruiter for more details.
Job Description
The Model Validation (MV) group is a centralized model risk management function within the Bank. It has seen fast growth due to regulatory focus on model risk. The Retail model validation team is responsible for the vetting and approval of complex mathematical and statistical models used to measure risk exposure in retail and trading products, and to review, validate and approve models for risk capital calculations. The team ensures an objective and independent evaluation of models to support risk measurement and management across the Bank.
Responsibilities
Perform validation of all models deemed in-scope by the bank-wide Model Risk Policy. Models are used for projecting Pre-Provision Net Revenue (PPNR) estimates for stress testing (DFAST, EWST), adjudication/management/collection for various retail products, marketing and analytics, etc.
Develop independent benchmark models (supervised learning, unsupervised learning, and deep learning) and assess model appropriateness, reasonableness of assumptions, and implementation accuracy.
Prepare detailed reports describing mathematical analytics, validation techniques, test results, and model limitations.
Prepare management summaries highlighting validation outcomes and outlining recommendations for approval or improvements.
Establish and maintain productive working relations with internal model development teams and external vendors who develop models for TD.
Identify needs to implement new models/techniques as industry standards and regulatory requirements evolve.
Stay current in knowledge of credit risk management methodologies, predictive modeling, and statistical analysis.
Requirements and/or Qualifications
Strong statistical background and analytical/problem-solving skills with a graduate degree in statistics, economics, finance, mathematics, computer science, or engineering.
At least 5 years of experience with model development/validation, including machine learning models and PPNR stress testing, scorecards and/or capital models.
Hands-on experience with programming languages such as Python, SAS, and R.
Knowledge of retail banking products, customer behaviors, and macroeconomic impacts is an asset.
Excellent verbal and written communication skills.
Good time management and multitasking skills; quick learner; strong team player.
Who We Are
TD is a leading global financial institution and a major bank in North America. We serve over 27 million households and businesses globally. We are guided by our vision to Be the Better Bank and our purpose to enrich the lives of customers, communities and colleagues. We are committed to customer experience and support colleagues through leadership, development conversations, mentorship, and training programs.
Our Total Rewards Package
TD’s Total Rewards includes base salary, variable compensation, and benefits focused on health and well-being, savings and retirement, paid time off, banking benefits and discounts, career development, and recognition programs.
Additional Information
This job opportunity is subject to provincial employment regulations. Regulations may vary by province or territory.
Colleague Development
Regular career development and performance conversations, access to online learning and mentoring programs to support growth within TD.
Training & Onboarding
We provide training and onboarding sessions to help you succeed in your new role.
Interview Process
We will reach out to candidates of interest to schedule interviews and communicate outcomes by email or phone.
Accommodation
We are committed to accessibility. Please request accommodations to help you participate in the interview process.
We look forward to hearing from you!
Language Requirement (Quebec Only):
Sans Objet
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Research, Analyst, and Information Technology
Industries: Banking
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