Director, Risk Analytics & Model Risk Management (LCC)

We are currently seeking a Director, Risk Analytics & Model Risk Management to join our team.

The Director, Risk Analytics & Model Risk Management reports to the VP, Enterprise Risk Management and provides the leadership to the Risk Analytics & Model Risk Management team. This role assists risk leaders by providing high-quality data, advanced analytics, reporting and risk insights to support the monitoring, risk assessment and decision making related to financial risks, in particular credit risk, market and Liquidity Risk and Capital Risk. The Director drives the development and advancement of analytical capabilities and serves as the primary subject matter expert in model risk management, enterprise stress-testing & scenarios analysis, and is the subject matter expert for data management for the risk team. This position also leads the annual ICAAP process in collaboration with internal stakeholders.

Accountabilities

1. Leadership: Provides leadership and direction to the team including recruitment, training and development, establishing annual goals and completing performance management processes.
2. Data Analytics: Collaborates with data owners to identify and select relevant data sources from both internal and external sources to address analytical requirements. Assesses portfolio performance metrics such as delinquency, default, and loss rates to support the monitoring and enhancement of FW’s credit portfolio and offer analytical support for efficient oversight of treasury activities. Manages and maintains data sets required for Climate Risk reporting and analysis.
3. Risk Measurement & Reporting:  Develops and oversees statistical and analytical models to quantify risk across financial risks of the Enterprise Risk Management framework. Prepares regular and ad hoc reports as requested by risk leaders, the First West leadership team, and the Board of Directors.  
4. Stress Testing: Designs and implements tools and methodologies required for stress testing and analysis related to financial risks. Collaborates with risk leaders to determine scenario assumptions and appropriate methodologies and continuously improve stress testing methodologies to meet changing market dynamics. Lastly, keeps abreast of best practices in stress testing methodology and related regulatory requirements.
5. Model Risk Governance: Leads the enterprise Model Risk Management program, which includes the monitoring, measurement & reporting of model validation, model inventory, and attestations with internal & external stakeholders. Performs and gathers models statistical test results and required analysis to support models’ performance assessment. Prepares appropriate materials to support the Model Risk Oversight and follow-up on action items as required.
6. Data Management: Leads the Data Management program within the second line. Implements robust controls to maintain data completeness and accuracy. Collaborates with internal and external partners to improve the structure, governance of risk data, and identify inconsistencies in the dataset. Stays abreast of data management requirements and best practices. Works closely with other business units to comply with Data Management policy and enhance data security and quality.
7. ICAAP: Leads the ICAAP working group and oversees the annual Internal Capital Adequacy Assessment Process (ICAAP) and conducts scenario analysis as needed. Incorporates OSFI requirements and applies changes to the ICAAP methodology as required. 
8. Risk Systems Support: Collaborates with internal partners to ensure systems used by the second line are technically supported and supplied with accurate, high-quality data. Coordinates with IT for system updates and enhancements by providing business analysis and support.

Required Skills, Experience & Qualifications

• Bachelor’s degree in a quantitative discipline required e.g. Mathematics or Science; masters preferred
• Financial, Accounting or Risk Management designation required or an equivalent combination of education and experience
• 8-9 years in progressively senior positions within an OSFI regulated financial institutions
• Experience in risk management, or analytically focused role, including 5 years leading and developing people required
• Experience working with credit portfolio data and resolving data governance challenges. Risk analytics and modeling techniques required 
• Strong leadership skills (communication, coaching and change management)
• Demonstrated written and verbal communication skills, with the ability to interact effectively and build long-term relationships with a wide variety of stakeholders
• Strong analytical and problem-solving skills, with the ability to develop creative options and recommendations to improve the overall effectiveness and efficiency of the risk analytics and reporting processes.
• Deep understanding of quantitative methods and complex statistical analysis. 
• Demonstrated advanced knowledge of advanced analytics, modeling and stress-testing.
• Experience in running the ICAAP and preparing related reporting.
• Demonstrated advanced knowledge of enterprise risk principles within a financial institution, including knowledge of credit, capital, liquidity and market risk
• Displays an understanding of risk management principles and activities.
• Ensures compliance with all relevant regulations, policies, and standards (e.g. OSFI, FCAC).