Job Title: Market & Model Risk Manager
Location: Markham, Ontario
Job Type: Full-time, Permanent
Job Summary
We are seeking an experienced and analytical Market & Model Risk Manager to join our risk team. The successful candidate will be responsible for independently managing and monitoring the Bank’s market risk and model risk frameworks, ensuring effective risk identification, measurement, monitoring, and mitigation.
This role plays a key role in maintaining the Bank’s Enterprise Risk Management Framework, supporting ICAAP, stress testing, regulatory reporting, and ensuring compliance with regulatory expectations such as OSFI guideline E-23 for model risk management.
What You Will Do
- Independently oversee and analyze market risk exposures, including Value-at-Risk (VaR), sensitivities, stress testing, and risk limits monitoring.
- Identify emerging market risk issues and recommend appropriate risk mitigation strategies.
- Implement and manage model risk governance requirements in accordance with OSFI E-23 and internal risk policies.
- Maintain a strong understanding of market risk systems, valuation methodologies, and data flows within both Banking Book and Trading Book activities.
- Investigate market risk incidents, identify root causes, and coordinate remediation actions with stakeholders.
- Support the enhancement of market risk governance frameworks, policies, and procedures.
- Contribute to ICAAP, enterprise stress testing, contingency testing, and regulatory risk reporting.
- Maintain and update the Bank’s model inventory, including model assumptions, methodologies, and outputs.
- Engage with business stakeholders to ensure model governance standards and documentation requirements are maintained.
- Collaborate with Front Office, Risk Management, and Head Office teams to ensure risk transparency and alignment with risk appetite.
- Support enterprise-wide risk management initiatives and ad-hoc analytical assignments as required.
What You Bring to the Table
- Bachelor’s degree in Finance, Economics, Risk Management, Business Administration, or related discipline.
- Professional certifications such as FRM, CFA, or equivalent are considered a strong asset.
- 3–5 years of experience in market risk management, model risk management, or capital markets risk oversight within financial institutions.
- Strong understanding of financial markets, trading activities, and capital market products.
- Familiarity with risk analytics including VaR, stress testing, scenario analysis, and sensitivity analysis.
- Knowledge of model governance frameworks and regulatory expectations (e.g., OSFI E-23).
- Experience with trading systems and risk platforms such as Murex, core banking systems, or similar risk infrastructure.
- Advanced proficiency in Microsoft Excel and data analysis tools.
- Strong analytical, problem-solving, and communication skills.
- Ability to work independently and manage multiple priorities in a dynamic risk environment.
Bank of China (Canada) is committed to fostering an inclusive workplace where diversity is valued. We encourage qualified candidates from all backgrounds to apply. Please note that only those selected for further consideration will be contacted.
Accommodation: Bank of China (Canada) is committed to providing accommodations throughout the recruitment process. If you require any accommodations, please contact the HR team and we will be happy to assist.