Manager ERM Model Validation

Job Locations CA-ON-Toronto | CA-ON-London | CA-MB-Winnipeg
Posted Date 2 weeks ago(1/24/2023 1:53 PM)
Job ID
Job Location 1 : Location
Canada Life Assurance Company
Job Category
Job Type
Full Time
Job Industry
Financial Services and Banking, Insurance
Career Level
Posted End Date

Job Description

Enterprise Risk Management (ERM), part of the Global Risk and Compliance Function, designs, coordinates, implements, and maintains core risk management processes across all regions, business units, and risk types within Great-West Lifeco. Our processes facilitate the Corporation’s enterprise risk management framework and ensure consistency across the organization to support key business decision making. We continuously evolve with changes in the external environment (e.g., stakeholder expectations, risk landscape, regulatory requirements, industry, etc.) and the internal environment (e.g. Company's business strategies, etc.).


The Manager, ERM Model Validation will play a key role in growing the model validation function of the company’s risk area. The role is to ensure key models and associated controls are appropriate for use, reliably implemented, and support key business decisions and results.


What you will do 


The incumbent will manage all aspects of the assigned model validation reviews, under the supervision of the Director, ERM Model Validation, including:

  • Coordinating the review with the model owners
  • Planning and executing the validation of complex models developed across the company
  • Researching the conceptual soundness of methodology underlying the models under review with comparison to standard techniques used in the industry
  • Communicating the results of model validation analysis with key stakeholders
  • Completing of all necessary filings (final report, findings, exceptions, etc.)
  • Staying abreast of key current and emerging risks that may affect model reviews
  • Promoting best practices in model risk management in the company as a subject matter expert
  • Supporting the risk monitoring process for model risk across the organization 

What you will bring 

  • University degree in a quantitative field such as Actuarial Science, Math, Statistics, Computational Finance or Engineering
  • Fellowship of the Society of Actuaries (FSA), of the Canadian Institute of Actuaries (FCIA) or equivalent designations are strongly desired while the CERA designation would be considered an asset
  • In-depth knowledge of insurance risk management, as well as a good understanding of products offered in the insurance industry
  • Experience specifically in model validation and/or peer review process is considered an asset.
  • Must be able to learn new platforms and models quickly for the different models being validated, including the replication of complex model calculations from first principles.
  • Hands-on experience on tools used in the company: AXIS, Access, Excel and Prophet are considered an asset; experience with stochastic modeling is strongly desired
  • Experience leading large, independent projects including the development of insurance and market models is strongly desired
  • Must be able to clearly communicate complex results to others through written model validation reports and interaction with model owners.
  • Must be able to manage relationships with model owners, and the ability to work well in a cross-functional team.
  • Excellent analytical and problem-solving skills
  • Skilled at prioritizing effectively

Given the size and scope of our organization, we have the flexibility for this position to be located in the following head office locations: Toronto, London, Winnipeg. 


Be your best at Canada Life- Apply today!


Being a part of Canada Life means you have a voice. This is a place where your unique background, perspectives and talents are valued, and shape our future success.


You can be your best here. You’re part of a diverse and inclusive workplace where your career and well-being are championed. You’ll have the opportunity to excel in your way, finding new and better ways to deliver exceptional customer and advisor experiences.


Together, as part of a great team, you’ll deliver on our shared purpose to improve the well-being of Canadians. It’s our driving force. Become part of a strong and successful company that’s trusted by millions of Canadians to do the right thing. 



We are one of Canada's top 100 employers!

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Canada Life serves the financial security needs of more than 13 million people across Canada, with additional operations in Europe and the United States. As members of the Power Financial Corporation group of companies, we’re one of Canada’s leading insurers with interests in life insurance, health insurance, investment and retirement savings. We offer a broad portfolio of financial and benefit plan solutions for individuals, families, businesses and organizations. 


We are committed to providing 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 the communities in which we live, and to creating an environment where every employee has the opportunity to reach their potential. 



Canada Life would like to thank all applicants, however only those who qualify for an interview will be contacted 





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