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Form of workVenture outside the ordinary - TMX Careers
The TMX group of companies includes leading global exchanges such as the Toronto Stock Exchange, Montreal Exchange, and numerous innovative organizations enhancing capital markets. United as a global team, we're connecting cross-functionally, traversing industries and geographies, moving opportunity into action, advancing global economic growth, and propelling progress. Through a rich exchange of ideas, meaningful collaboration, and a nimble operating model, we're powering some of the nation's most critical systems, fueling capital formation and innovation, bringing increased opportunity to business visionaries, product ingenuity to consumers, and career exploration to our team.
Ready to be part of the action?
Now Hiring: Senior Analyst Model Validation
The senior Analyst Model Validation performs quantitative and qualitative validation of models and non-models developed to assess and analyze market, credit, liquidity and financial risks. As a member of the independent Model Validation team, the Senior Analyst of Model Validation is responsible for validating the soundness of TMX Group subsidiaries' risk models. He or she provides expertise and advice regarding advanced modelling techniques and applications, and ensures that model methodology and implementation meet regulatory requirements and internal policies.
Department Overview:
TMX Group Model Validation Department provides independent, objective validation and an effective challenge of risk models and non-models - primarily, for Post Trade (CDS and CDCC) - subsidiaries of TMX Group. Model Validation is a core element of the Model Risk Management framework and an essential piece to ensure compliance with Regulatory Requirements around independent validation of risk models and non-models.
This function is guided by a philosophy of adding value to improve the operations of the organization. It assists the organization to accomplish its objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the organization's governance and risk management.
Key Accountabilities:
Assesses models and non-models soundness and risk from both a technical and a functional perspective, including evaluating conceptual soundness, performance, and ongoing monitoring.
Builds models (financial, risk, pricing, econometric, forecasting) to benchmark or replicate the results of the model to be validated.
Makes rigorous and balanced decisions on complex issues, and provides expertise to ensure the TMX Group's entities are not at undue risk.
Participate in projects that consist of identifying key model risks and controls, and assess the soundness and adequacy of the modelling environment.
Carries out the validation of Post Trade's new risk system related models and non-models.
Challenges the classification of all risk processes utilized by Risk Management in their appropriate inventory - models and non-models - in accordance with the entity's risk policy.
Participates in the development and the update of the Models and Non-Model Risk Policy and methodology that defines the role and responsibilities of Model Validation with respect to these processes.
Participates in setting up the model/non-model Validation report and presentations for the regulators and executives risk committees.
Coordinates work plans to ensure model/non-model reviews and monitoring are completed as planned.
Provides written and verbal recommendations and in-depth analytical reports on Model Validation.
Ensures that the Model Validation programs are consistent with Model Validation methodology standards and worldwide best practices.
Ensures that independent Model Validations are consistent with appropriate standards, regulatory requirements and best practices, and with changes in the operating environment.
Performs other assignments as directed by your manager.
Must Haves:
Master degree in Finance, Statistics, Mathematics, Economics or other quantitative fields.
Minimum 5+ years of relevant experience.
Experience and advanced skills in assessing the work of other experts.
Extensive hands-on experience in researching, developing and implementing quantitative models for measuring, analyzing and managing financial risks.
Advanced theoretical and knowledge of a broad range of quantitative models and risk systems used in the financial world.
Knowledge of programming tools such as VBA, Matlab, Python, SQL and other standard database query tools and related applications.
Ability to identify issues, analyze problems, synthesize information and make recommendations.
In-depth ability to write reports to convey information that is subject to interpretation.
Knowledge of regulatory requirements such as PFMI, OSFI or EMIR Guidelines is a plus.
Capable of managing multiple projects and priorities concurrently.
Excellent English communication skills, both orally and written.
Highly motivated team player, demonstrating courage and integrity.
Commitment to meeting deadlines and ability to work in high pressure environment.
Ability to persuade, influence, and/or negotiate with colleagues and senior management.
Ability to work independently with minimal supervision.
Inquisitive and committed to learning/self-improvement.
Flexible and able to adapt to change.
In the market for…
Excitement - Explore emerging technology and innovation, as well as ventures and digital finance that shape the future of global markets! Experience the movement of the market while grounded in the stability of close to 200 years of success.
Connection - With site hubs in some of the world's most multicultural cities, we leverage our size and structure to create rich connections and belonging while experiencing powerful global impact through our work.
Impact - More than a platform, we use our talents to power mission-critical systems that drive global economic advancement, innovation, and growth. As well, our employee-led Team Impact spreads social good via our giving strategy.
Wellness - From empathetic leadership to a culture of flexibility and balance, we believe wellness at work creates the maximum yield and a stronger "we". Plus, with a cloud-first and hybrid workstyle, as well as generous time-off and leaves, we support a life well lived!
Growth - From a growth mindset in our work, to expansion in our business, TMX is home to action-takers energized by the achievement of ambitious growth.
Ready to enrich your career with impactful work, leaders who truly care, and the flexibility and programs to help you thrive as part of #TeamTMX ? Apply now.
TMX is committed to creating and sustaining a collegial work environment in which all individuals are treated with dignity and respect and one which reflects the diversity of the community in which we operate. We provide accommodations for applicants and employees who require it.
