Director Model Risk Management Jobs in Toronto, ON

The Manager or Director, Model Risk Management is a senior member in the Group Model Risk Management team, responsible for validation of models in the Global Wealth Management Segment covering portfolio construction, digital investment advisory, business planning, valuation and risk for structured assets and etc. Reporting to the Head of GWAM Model Risk Management. The incumbent is accountable for determining and assessing model acceptability, identifying potential model risks, testing model implementation, and for providing general consulting advice to business units as appropriate. These models are developed by the business units across GWAM and are essential in supporting risk measurement, investment strategy development, asset liability management, product pricing, and regulatory reporting purposes. Validation is a critical step to ensure model effectiveness.

Position Responsibilities:

• Assess the model's adequacy and appropriateness for stated objectives and assumptions, general practice, and company policies.

• Ensure submitted models from 1st line are mathematically sound, following industry standard, implemented correctly, and with adequate performance. Perform independent research and develop independent benchmark models where needed.

• Assess Potential Model Risks. Evaluate potential model risks related to embedded assumptions vs target applications, and limitations of model implementation. Recommend risk mitigation measures where needed.

• Document model validation outcome and communicate findings to stakeholders and model risk leaders.

• Ensure business units understand their obligations under the Model Risk Policy such as providing adequate documentation to enable independent validation and having processes and controls to govern the entire model lifecycle.

• Participate annual model materiality refresh and inventory attestation process.

• Provide mentorship to junior staff.

• Participate in Ad-Hoc Projects as needed.

• Bilingualism (English and French) is a strong asset. If the successful candidate is in Quebec, proficiency in both languages will be required to support clients from various provinces outside of Quebec.

Required Qualifications:

• Master's or PhD degree in a quantitative discipline (Math, Finance, Economics, Physics, Engineering, etc.)

• 3+ years of experience in financial mathematics modeling with expertise in optimization and numerical techniques.

• Proficiency in quantitative modeling.

• Knowledge of Global Wealth Management products and services, such as portfolio construction, digital investment advisory platforms, structured products, and valuation methodologies, is highly desirable.

• Programming skills in VBA, C++, SQL, Excel, MATLAB, or Python.

• Strong analytical, problem-solving, communication, and documentation skills.

• Proven organizational, team-building, and relationship-building abilities across business functions, team player.

Preferred Qualifications:

• Previous model validation experience is a plus.

When you join our team:

• We'll empower you to learn and grow the career you want.

• We'll recognize and support you in a flexible environment where well-being and inclusion are more than just words.

• As part of our global team, we'll support you in shaping the future you want to see.

#LI - Hybrid

The role being advertised is an existing vacancy.

About Manulife and John Hancock

Manulife Financial Corporation is a leading international financial services provider, helping people make their decisions easier and lives better. To learn more about us, visit https://www.manulife.com/en/about/our-story.html.

Manulife is an Equal Opportunity Employer

At Manulife/John Hancock, we embrace our diversity. We strive to attract, develop and retain a workforce that is as diverse as the customers we serve and to foster an inclusive work environment that embraces the strength of cultures and individuals. We are committed to fair recruitment, retention, advancement and compensation, and we administer all of our practices and programs without discrimination on the basis of race, ancestry, place of origin, colour, ethnic origin, citizenship, religion or religious beliefs, creed, sex (including pregnancy and pregnancy-related conditions), sexual orientation, genetic characteristics, veteran status, gender identity, gender expression, age, marital status, family status, disability, or any other ground protected by applicable law.

It is our priority to remove barriers to provide equal access to employment. A Human Resources representative will work with applicants who request a reasonable accommodation during the application process. All information shared during the accommodation request process will be stored and used in a manner that is consistent with applicable laws and Manulife/John Hancock policies. To request a reasonable accommodation in the application process, contact hr@manulife.com.

Referenced Salary Location

Toronto, OntarioHybrid

Salary range is expected to be between

$88,800.00 CAD - $138,800.00 CAD

Employees also have the opportunity to participate in incentive programs and earn incentive compensation tied to business and individual performance. The actual salary will vary depending on local market conditions, geography and relevant job-related factors such as knowledge, skills, qualifications, experience, and education/training. If you are applying for this role outside of the primary location, please contact hr@manulife.com for the salary range for your location.

Manulife offers eligible employees a wide array of customizable benefits, including health, dental, mental health, vision, short- and long-term disability, life and AD&D insurance coverage, adoption/surrogacy and wellness benefits, and employee/family assistance plans. We also offer eligible employees various retirement savings plans (including pension and a global share ownership plan with employer matching contributions) and financial education and counseling resources. Our generous paid time off program in Canada includes holidays, vacation, personal, and sick days, and we offer the full range of statutory leaves of absence. If you are applying for this role in the U.S., please contact hr@manulife.com for more information about U.S.-specific paid time off provisions.

We use data and analytics technologies, such as artificial intelligence (AI), and automated processing tools, to analyze and process the information you provide to us or third parties in the application process. For more information, please refer to our personal information collection statement.