Senior Analyst, Model Validation and Governance

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.

Reporting to the Senior Manager, Risk Management,  the Senior Analyst, Model Validation and Governance is a key contributor to the delivery of The Canadian Depository for Securities Limited (CDS) and The Canadian Derivatives Clearing Corporation (CDCC) strategic project initiatives, providing model validation and policy management skills to ensure risk management initiatives are in compliance with CPSS-IOSCO Principles for Financial Market Infrastructure (PFMI’s) and internal policies/procedures.

• Perform detailed quantitative and technical review of models, including research on appropriate statistical and mathematical technical tests to analyze various aspects of model design and performance

• Responsible for the review of all necessary documentation, ensuring accuracy and completeness, allowing for an independent third-party review of the validation work performed

• Provide comprehensive reports summarizing findings and recommendations to senior management and risk committees

• Manage relationships with key stakeholders as identified for each submission of validation requests

• Support the team in developing and maintaining a consistent validation process for models and other components used to manage financial risks

• Participate in the design of policies related to market, credit, and liquidity risks. Take responsibility for reporting all status and risk issues, collecting decisions, performing change analysis, and updating documents. 

• Stay informed about international standards and industry best practices, identify emerging innovations and trends, and provide actionable recommendations.

• Degree in fields such as Mathematics, Statistics, Econometrics, Physics, Computer Science, Financial Mathematics, and Financial Engineering. Master or above preferred

• 3-5 years of previous work experience in capital markets, pricing model theory (equity, fixed income, derivatives and structured products), liquidity/counterparty/market risk modelling

• Exceptional communication (particularly in writing) and presentation skills with experience in preparing policy and process documentation

• Strong time management and organization abilities in a high-pressure environment

• Technology and information system skills, e.g. Matlab, Python.

• Working towards industry certifications: CFA, FRM (Financial Risk Manager from GARP) or/and PRM (Professional Risk Manager from PRMIA)

Salary Range: 85,000/year -95,000/year CAD

Please note that the salary range included is a guideline only. The salary offered may vary based on factors, including, but not limited to, the successful candidate’s relevant knowledge, skills, and experience. 

The recruiting efforts for this role are intended to fill a vacant position.

Please note that our company is not currently sponsoring work permit applications and the applicant must be authorized to work in the country where this position is located. 

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.