• Manager, ERM Model Validation

    Job Location CA-ON-Toronto
    Posted Date 5 months ago(2/23/2018 11:22 AM)
    Job ID
    Great West Life
    Job Category
    Project Management
    Job Type
    Full Time
    Job Industry
    Financial Services and Banking, Insurance
    Career Level
    Experienced, Management
  • Job Description

    Reporting to the Director, the Manager, Model Validation, Enterprise Risk Management, will play a key role in the growing model validation function of the company’s risk area. The incumbent will take the lead on managing and executing assigned model validation reviews. Ideally, the position can be located either in Toronto, London and Winnipeg.

    The incumbent will lead the validation of complex models, developed by other areas of the company. This includes:

    • Researching the conceptual soundness of methodology underlying the models validated with comparison to standard techniques used in the industry
    • Communicating the results of model validation analysis with key stakeholders
    • Communication of best practices in model risk management and development in the company

    Required Experience:

    1. Managerial experience:
      • Leading independent projects. Experience leading independent projects including the development of insurance and market models is strongly desired. Experience specifically in model validation and/or peer review process is considered an asset.
    2. Insurance Risk Management.
      • Minimum of 5 years of work experience with a minimum of 2 years of experience in the quantitative insurance risk management and/or model development within the financial services industry.
      • Experience with stochastic modeling is strongly desired.
    3. Software Development / Tools.
      • Hands-on experience on tools used in the company: AXIS, Access, Excel and Prophet are considered an asset.


    Required Skills:

    • Management skills. Must be able to manage large projects and meet delivery commitments.
    • Insurance risk and math finance expertise: In-depth knowledge of insurance risk management, as well as a good understanding of products offered in the insurance industry.
    • Technical and programming skills: Must be able to learn new platforms and models quickly for the different models being validated, including the replication of complex model calculations from first principles.
    • Interpersonal and communication skills: Must be able to clearly communicate complex results to others through written model validation reports and interaction with model owners.
    • People skills: Must be able to manage relationships with model owners, and the ability to work well in a cross-functional team.


    Qualifications: University degree in a quantitative field such as Actuarial Science, Math, Statistics, Computational Finance or Engineering. The FSA, FCIA designation is strongly desired while the CERA designation would be considered an asset.


    We offer a challenging, team-oriented work environment, competitive income and benefits, and opportunities for professional and personal development and growth.


    Discover your opportunity….


    Apply with cover letter and resume today!


    Together Great-West Life, London Life and Canada Life serve the financial security needs of 12 million people across Canada, with additional operations in Europe and the United States. As members of the Power Financial Corporation group of companies, we’re one of Canada’s leading insurers with interests in life insurance, health insurance, investment and retirement savings. We offer a broad portfolio of financial and benefit plan solutions for individuals, families, businesses and organizations.


    We are committed to providing an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of the communities in which we live, and to creating an environment where every employee has the opportunity to reach their potential.


     Candidates who are selected for an interview will be contacted.




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