Model Validation Specialist - Economic Capital
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About the role
We’re looking for a (Economic Capital) Model Validation Specialist to join our Risk Management team!
About role
We’re seeking an individual to join the Risk Management team. Our team is responsible for developing and supporting the implementation of the risk management framework. We provide independent reviews and challenges to the business, identify, assess, respond, monitor, and report on risks that our company faces. We play an active role in building a competitive advantage by integrating our risk management framework into our business activities and strategic planning.
Your primary responsibility will be to lead the independent review, validation, and challenge of the Canadian internal economic capital model. This includes structuring and executing internal model validation and testing in line with best practices. This role also entails collaborating with our global organization, specifically with teams in the UK, shaping model validation implementation, and fostering innovation.
Locations : This role is based on 700 University, Toronto and a two days a week presence in the office is required.
What you’ll do here
Lead the independent validation and vetting of the Canadian internal economic capital model.
Communicate the results of model validation activities, model limitations, and uncertainties to key stakeholders and management, providing robust challenge to model outcomes.
Conduct periodic reviews to assess the model’s compliance with established policies and procedures.
Act as a primary resource for communicating model oversight framework with regulators and external stakeholders.
Foster innovation, with great opportunity to define how we best conduct benchmarking analysis, backtesting and sensitivity analysis as we continue to validate the internal model.
Provide active support and technical advice to the team, senior management, and key stakeholders.
Assist the team in implementing the Model Risk Management framework.
Beyond an exclusive focus on insurance risk, you will have the opportunity to contribute more widely to managing other risks that impact capital requirements, as the role evolves.
What you bring to the table
Bachelor's degree in math/math finance, statistics, data science, or actuarial sciences.
At least 5 years of relevant experience in modelling, including at least 2 years in P&C insurance.
Experience with economic capital models, particularly the insurance risk component – an asset.
Experience in model validation, including knowledge of validation testing techniques and technical theory is considered a plus.
Strong analytical skills, knowledge of mathematical techniques and solid planning and execution.
Proactive approach, autonomy, efficiency, and excellent team player.
Experience in coaching of other team members on running and improving team processes, and special projects.
Ability to learn quickly, adapt to change, receptive to feedback and to stay updated with emerging risks.
Sound skills in oral and written communications and interpersonal relations with ability to interact with a variety of people at all levels of the organization.
Able to relay complex concepts in ways that other stakeholders will easily understand.
High level of professionalism, integrity, and ethics.
Proficiency in Microsoft Office Suite, VBA; with knowledge of Igloo, Python, SQL a plus.
For candidates located in Quebec, bilingualism is required considering the necessity to interact on a regular basis with English-speaking colleagues across the country.
#LI-hybrid
What we offer
Our hybrid work model provides the balance between working from home and enjoying meaningful in-person interactions.
Working here means you'll be empowered to be and do your best every day. Here is some of what you can expect as a permanent member of our team:
A financial rewards program that recognizes your success
An industry leading Employee Share Purchase Plan; we match 50% of net shares purchased
An extensive flex pension and benefits package, with access to virtual healthcare
Flexible work arrangements
Possibility to purchase up to 5 extra days off per year
An annual wellness account that promotes an active and healthy lifestyle
Access to tools and resources to support physical and mental health, embracing change and connecting with colleagues
A dynamic workplace learning ecosystem complete with learning journeys, interactive online content, and inspiring programs
Inclusive employee-led networks to educate, inspire, amplify voices, build relationships and provide development opportunities
Inspiring leaders and colleagues who will lift you up and help you grow
A Community Impact program, because what you care about is a part of what makes you different. And how you contribute to your community should be just as unique.
We are an equal opportunity employer
At Intact, our Value of respect is founded on seeing diversity as a strength. We strive to create an accessible workplace where employees feel valued, included and encouraged to share their unique perspectives.
We encourage applications from individuals who are members of equity-deserving groups, including but not limited to women, Indigenous peoples, persons with disabilities, Black people, and members of the 2SLGBTQI+ community.
As part of Intact’s commitment to reconciliation, we acknowledge that we work, meet and travel across the land currently called Canada, originally inhabited by First Nations, Metis and Inuit people. This history extends through many centuries and continues to evolve today.
We have policies to ensure equal access and participation for people with disabilities, including providing workplace adjustments (accommodations). A copy of applicable policies is available on request.
If we can provide a specific adjustment to make the recruitment process more accessible for you, please let us know when we reach out about a job opportunity. We’ll work with you to meet your needs.
Learn more about our recruitment process and your candidate journey here.
If you are an employee of Intact or belairdirect, please apply for this role on Internal Career Site.