Data Scientist I (Quants) – Insurance Model Validation

Description

Your team is the Model Validation group in Enterprise Risk Management, which independently validates and approves every analytical model the company uses.

You would report to the Senior Manager of Insurance Model Validation.

The company is the fifth largest bank in North America by branch count, serving more than 27 million households and businesses in Canada, the United States and beyond, with over 95,000 colleagues.

Recruiters contact candidates they want to interview, and outcomes are shared by email or phone.

Responsibilities

• Independently validate a range of insurance models.
• Run validation tests and analysis on FCRM models under the supervision of a Senior Manager or Manager, to support business projects and regulatory needs.
• Talk with first-line stakeholders to discuss and resolve model limitations and issues found during validation.
• Write high-quality validation reports with enough detail and justification to support your conclusions and withstand audit and regulator review.
• Keep up with actuarial methods and ML/AI modelling for insurance.
• Build validation testing tools and programs for advanced AI and ML models.
• Work closely with Big Data developers and analytics experts in a highly collaborative team.
• Follow the validation plan and enterprise procedures and model risk policy, and complete validations on time with key stakeholders.
• Share knowledge and subject matter expertise within the team, work with other functions to finish validations efficiently, and escalate issues promptly.

Requirements

• A post-secondary degree in actuarial science, statistics, AI/ML, or financial engineering.
• Fellow or associate designation from the Society of Actuaries (FSA), the Casualty Actuarial Society (ACAS), or the Canadian Institute of Actuaries (ACIA).
• Deep knowledge of ML/AI modelling and proficiency in the programming languages and software used for it.
• Excellent verbal and written communication skills.
• Excellent time and project management skills, the ability to multitask, and the ability to work with minimal supervision.
• Asset: one or more years of experience at a top 10 Canadian P&C insurer developing or validating a new pricing and rating solution with AI/ML exposure.
• Asset: experience modelling or validating multiple product lines, both life and general insurance (auto and property), for IFRS 17 liability or reserves, stress testing, ORSA, or CAT models.

Conditions

Based in Toronto, Ontario, Canada.

Part of the Analytics, Insights, and Artificial Intelligence line of business.

Base salary range of $81,600 to $115,200 CAD.

The actual base pay offered may vary based on skills, experience, job-related knowledge, geographic location, and business needs.

You are encouraged to ask about compensation, and your recruiter can give you specifics for this role.

Subject to provincial regulation for employment, and each province or territory may have its own rules.

Benefits

• Total Rewards package: base salary, variable compensation, health and well-being benefits, savings and retirement programs, paid time off, banking benefits and discounts, career development, and recognition programs.
• Regular career, development, and performance conversations with your manager.
• Access to an online learning platform and a range of mentoring programs.
• Training and onboarding sessions to prepare you for the role.