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The Group Risk Management team develops and implements TD's risk management strategies, policies, reporting and operating frameworks, regulatory affairs and operations. We assess operational, enterprise and credit risks, and regulatory affairs throughout TD's footprint to ensure Bank has an effective operational risk management program within its risk appetite. If you want to be a brand ambassador who can help strive efficiencies for the bank, then join our team and make an impactful contribution to TD and your own success.
The Analyst, Model Risk Quality Control is primarily responsible for executing quality control testing on key model lifecycle controls throughout the entire TD enterprise. The analyst will also support a variety of initiatives within the overall Model Risk Governance & Control (MRC) group. Such initiatives include data preparation, dashboard reporting, policy design, inventory operations and stakeholder management, among others. This position reports to the Senior Manager of Model Risk Governance & Quality Control.
Key responsibilities include:
Quality Assurance Program: In accordance with program standards, the analyst will execute test plans for model identification, implementation, usage, performance monitoring and inventory management. Quantitative expertise is an asset.
Policy and Control: Model Risk Governance sets policy and control requirements within a variety of procedure, standard, policy, and template documents. The MRM analyst will critically analyze existing process/control design, document proposed updates/changes, and deliver high quality policy documentation that complies with all relevant regulations (SR 11-7, E23, etc.). Excellent writing skills, critical thinking, and an ability to discern relationships between model risk and control design are imperative.
Advisory: MRM advises stakeholders across TD regarding model risk policy compliance. MRM is often consulted when TD stakeholders face unique, unforeseen circumstances. The analyst must develop a strong knowledge of all policies and procedures and propose solutions for stakeholders. Relationship management, communication (written and verbal), and policy comprehension are important.
Policy Exceptions: MRM may offer customized control solutions in exceptional circumstances where policy-required controls are not optimal. The analyst will perform due diligence on key items submitted from developers, including quantitative performance metrics, and propose solutions. Quantitative expertise and policy comprehension are important.
Risk Reporting: MRM maintains reporting processes to measure and monitor model risk across TD. The MRM analyst may assist managers with data sourcing from our SAS-based inventory and subsequent dashboard preparation. Assistance with automating some components of reporting may also be requested. Analytics and/or programming skills are assets.
Inventory operations: In accordance with regulatory guidance, MRM maintains an enterprise-wide SAS-based model inventory. When necessary, the analyst may be called on to assist the inventory team in performing inventory operations in accordance with policy, which often involve direct communication with first line stakeholders. Policy comprehension, communication, and an ability to work in teams are useful skills.
Audit and Regulatory: Model risk has comparatively high interest from regulators in both the US and Canada. The model risk analyst will gather control evidence requested by internal/external auditors and regulators, including SOX related requests. An ability to source information quickly, communicate with teammates, and understand regulations are important.
Experience: 0-2 years of work experience. Internships/Co-ops in the banking industry are preferred, though not required. Candidates with non-banking experience are most welcome to apply but should connect their backgrounds to the description above.
Skills: Excellent writer and communicator, may possess programming skills.
Excellent writing skills. The analyst will be expected to action policy updates discussed in meetings with senior managers and/or executives. Policy documents must be written with a clear, concise writing style.
Strong communicator. In addition to writing, the analyst should be able to articulate ideas concisely. When necessary, the analyst may assist in presentations to internal MRM stakeholders or bank-wide communications.
Programming skills are an asset, though not essential (SAS, R, python, etc.); examples of projects or assignments completed using programming skills should be included in the resume.
Attributes: Organized, team-oriented, self-starter, independent/critical thinker, handles (not avoids) conflicts well. Comfortable working with people. Accountable. Committed. Acts with integrity.
Well-organized. A wide range of tasks will be delegated to the analyst. An ability to self-track timelines and where necessary, prioritize deliverables is key.
Team-oriented, yet self-sufficient. The analyst will be expected to liaise with teammates on some initiatives, while executing independent deliverables as well.
An independent, critical thinker. Thrives on non-repetitive, customized work. Challenges ideas and offers proposals for improvements. Performs high quality due diligence.
Self-starter. Able to identify ways to achieve goals and execute with limited oversight.
As MRM is a group that performs a wide-range of tasks spanning across all business lines in TD, we are foremost looking for high performers with a range of skills rather than candidates with a specific background. We recognize that there is more than one way to perform this role well. Do not be discouraged if your background differs from the above, we are interested in hearing from you.
Education: Education: Undergraduate degree in a business/commerce or quantitative discipline (finance, accounting, economics, risk management, mathematics, statistics, operations research, physics, computer science, engineering, etc.) Graduate degrees in these fields are preferred
At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live and serve. If you require an accommodation for the recruitment/interview process (including alternate formats of materials, or accessible meeting rooms or other accommodation), please let us know and we will work with you to meet your needs.