Associate Director, REM Modelling

About the role

Join a Challenger

EQ is a national force in Canadian banking, established in 1970, with a mandate to serve nearly 4 million Canadians from coast to coast. The institution delivers a broad spectrum of financial services, including banking, lending, trust, and credit union solutions. For decades, the organization has questioned traditional banking norms, pursuing smarter, faster, and more connected financial experiences. Its progress is driven by people known as challengers, individuals who ask better questions, push back on old assumptions, and actively search for a better way forward. The bank invites professionals who are eager to reshape how banking functions for Canadians and the businesses that power the national economy to consider this opportunity.

The Work

The role of Associate Director, REM Modelling is central to the design and oversight of quantitative frameworks for the bank's reverse mortgage business. The position requires ownership of portfolio forecasting, risk quantification, capital assessment, stress testing, pricing analytics, and strategic decision-making support. The individual in this role is expected to act as a subject matter expert, applying advanced actuarial, statistical, and predictive analytics techniques to evaluate portfolio performance and identify emerging risks.

Success in this position demands significant hands-on experience with actuarial modelling in financial services. The work involves the application of mortality, longevity, survival, and stochastic modelling techniques specific to a financial services context. Collaboration is a core component of the position, requiring close partnership with the Reverse Mortgage business, Credit Risk, Finance, Treasury, Model Risk Management (MRM), and other stakeholders. The objective is to support profitable growth, effective risk management, and strict regulatory compliance. The Associate Director is ultimately accountable for ensuring that modelling methodologies are robust, well-documented, independently reviewable, and fully aligned with internal model governance standards.

Key Accountabilities

The incumbent will architect and run quantitative frameworks to ensure reverse mortgage portfolios remain clear and profitable. This includes challenging conventional perspectives on aging borrowers and evolving interest rate environments. The role requires translating raw assumptions into insights ready for board-level review.

Specific responsibilities include designing intake workflows to capture clean data for reverse mortgage portfolios. The position involves constructing stochastic models to forecast migration, prepayment, and loss given default. The incumbent will examine stress scenarios and rate shocks to test portfolio resilience under pressure. Pricing structures will be shaped to keep products competitive while maintaining capital efficiency.

Partnerships with Credit Risk will align the bank's risk appetite with growth targets. The role also guides MRM reviewers through documentation and change control processes. Collaboration with Treasury will ensure funding strategies and liquidity remain aligned. Business decisions will be supported through clear visualizations and plain language summaries. The incumbent will validate model behavior against real-world outcomes for ongoing refinement. Ongoing confirmation of alignment with governance rules and regulatory expectations will be a regular duty.

Requirements

Candidates must hold a minimum of three years of hands-on actuarial modelling experience in financial services. A proven ability to apply mortality, longevity, survival, and stochastic techniques to real portfolios is essential. The role requires the production of documentation that withstands independent model risk review. Effective communication skills are necessary to explain complex model logic to diverse stakeholders without relying on jargon. The ability to partner with compliance teams to satisfy both internal and external standards is required.

Nice to have

Preference will be given to candidates with experience in the Canadian financial services sector and familiarity with reverse mortgage products. Knowledge of relevant regulatory expectations for model risk management and governance is considered an asset. Experience with visualization tools and data platforms that support model reporting will be viewed favorably.

Practical notes

Location for this role is Toronto. The engagement is full-time, with a compensation range of $180,000 to $220,000 per year. Candidates are reminded to What you'll do

• Commit to the EQ values of challenger, curious, and candid.
• Apply advanced quantitative methods to solve business problems in a financial services setting.
• Take ownership of complex modelling workstreams with minimal supervision.
• Translate technical model risk concepts into practical guidance for business partners.
• Partner with MRM to ensure documentation meets standards for review and audit.
• Support the design of pricing and capital frameworks for reverse mortgage products.
• Analyze portfolio behavior using stochastic and survival-based modelling techniques.
• Evaluate the impact of interest rate environments and demographic shifts on portfolio outcomes.
• Develop scenarios and stress tests that highlight key risks and opportunities.
• Communicate findings to senior stakeholders through structured briefings and clear narratives.
• Ensure all model development practices adhere to internal governance policies.
• Contribute to the continuous improvement of model risk controls and validation processes.
• Collaborate cross-functionally to align modelling outputs with business strategy and risk appetite.

Practical Information

Location for this role is Toronto. The engagement is full-time, with a compensation range of $180,000 to $220,000 per year.