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Open nowPosted 53 days ago

Associate Director, REM Modelling

eqbank84 open roles

Where
Toronto
Work mode
Hybrid
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Your applicationOpen nowAssociate Director, REM Modellingeqbank · Toronto

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This job: posted 53 days ago

The posting

Join a Challenger

At EQ, we're remaking banking so every Canadian gets ahead, every day. Serving nearly 4 million Canadians from coast to coast, we offer a wide variety of financial services from banking and lending, to trust and credit union solutions.

We've been at this since 1970, challenging the conventions of traditional banking with smarter, faster, and more connected financial experiences.

What's kept us moving? The people behind it all: challengers who ask better questions, push back on old assumptions, and look for a better way forward.

If you're driven to help reshape how banking works for Canadians and the businesses that power our economy, this could be your next big opportunity.

We can’t wait to get to know you!

The Work

The Associate Director, REM Modelling ("ADRM") is responsible for the development, enhancement, implementation, and ongoing monitoring of quantitative models supporting the Bank's Reverse Mortgage (REM) business. The role provides actuarial and analytical leadership across portfolio forecasting, risk quantification, capital assessment, stress testing, pricing analytics, and strategic business decision-making.

The incumbent will be a subject matter expert in reverse mortgage modelling, leveraging advanced actuarial, statistical, and predictive analytics techniques to assess portfolio performance and emerging risks. The role requires significant hands-on actuarial modelling experience, including the application of mortality, longevity, survival, and stochastic modelling techniques in a financial services environment. The role partners closely with the Reverse Mortgage business, Credit Risk, Finance, Treasury, Model Risk Management (MRM), and other stakeholders to support profitable growth, effective risk management, and regulatory compliance.

The Associate Director will be accountable for ensuring modelling methodologies are robust, well-documented, independently reviewable, and aligned with internal model governance standards.

Core Responsibilities

  • Lead the development, enhancement, and ongoing maintenance of quantitative models supporting the Reverse Mortgage portfolio.
  • Develop forecasting models for reverse mortgage balances, portfolio growth, loan-to-value (LTV) evolution, profitability, and portfolio performance.
  • Design and maintain actuarial and predictive models related to borrower longevity, mortality, voluntary move-out behaviour, prepayment activity, and property disposition assumptions.
  • Develop and maintain house price appreciation and property value forecasting methodologies supporting portfolio risk assessments.
  • Build analytical frameworks used to evaluate capital requirements, stress testing outcomes, and portfolio resilience under adverse economic scenarios.
  • Develop behavioural and scenario-based forecasting models to support strategic planning, budgeting, and long-range business forecasts.
  • Assess emerging trends and risks impacting the reverse mortgage portfolio, including housing market dynamics, demographic changes, longevity risk, and interest rate environments.
  • Perform model recalibrations, performance monitoring, back-testing, benchmarking, and remediation activities.
  • Develop risk-based pricing analytics and profitability models to support business strategy and product optimization.
  • Support portfolio management and business decision-making through advanced analytics and risk insights.
  • Partner with Technology and Data teams to implement modelling solutions within production environments.
  • Ensure model documentation is complete, transparent, and validation-ready.
  • Support internal audits, regulatory reviews, and model validation activities by providing technical expertise and documentation.
  • Develop and maintain Reverse Mortgage stress testing methodologies and scenario frameworks.
  • Support capital adequacy assessments related to reverse mortgage exposures.
  • Quantify the impact of changes in property values, interest rates, longevity assumptions, and borrower behaviour on portfolio performance.
  • Support enterprise stress testing and capital planning initiatives as they relate to the REM portfolio.
  • Act as a subject matter expert on reverse mortgage analytics and actuarial modelling.
  • Promote best practices across model development, governance, validation, and documentation.
  • Evaluate emerging modelling methodologies, tools, and industry practices.
  • Provide technical guidance and challenge to modelling initiatives across Risk Analytics.
  • Develop strong relationships with leaders across Reverse Mortgages, Credit Risk, Finance, Treasury, Risk Management, and Technology.
  • Translate complex modelling outputs into actionable business insights for senior stakeholders.
  • Communicate model limitations, assumptions, risks, and results clearly to technical and non-technical audiences.
  • Escalate significant risks, model limitations, and issues to senior management when required.

Let's Talk About You

  • Bachelor’s degree in actuarial science, Mathematics, Statistics, Economics, Financial Mathematics, Data Science, or a related quantitative discipline.
  • Associate or Fellow actuarial designation (ACIA, FCIA, ASA, FSA or equivalent) strongly preferred.
  • Master's degree in a quantitative discipline is considered an asset.
  • 7+ years of experience in actuarial modelling, predictive analytics, risk modelling, or quantitative analytics within financial services.
  • Experience developing forecasting and portfolio risk models.
  • Strong understanding of actuarial methodologies including mortality, longevity, survival analysis, risk forecasting, and stochastic modelling.
  • Experience working with mortgage, lending, insurance, or consumer finance portfolios considered a strong asset.
  • Advanced knowledge of statistical modelling, predictive analytics, and machine learning techniques.

What we offer [For full-time permanent roles]

💰 Competitive discretionary bonus

✨ Market leading RRSP match program

🩺 Medical, dental, vision, life, and disability benefits

📝 Employee Share Purchase Plan

👶🏽 Maternity/Parental top-up while you care for your little one

🏝 Generous vacation policy and personal days

🖥 Virtual events to connect with your fellow colleagues

🎓 Professional development and comprehensive Career Development program

💛 A fulfilling opportunity to join one of the top FinTechs and help create a new kind of banking experience

The incumbent will be working hybrid and in office time will be spent working from EQ Bank’s additional office space located at 2200-25 Ontario Street, Toronto, ON.

Equity, Diversity & Inclusion

EQ is committed to building an inclusive, accessible environment where every employee feels valued, respected, and supported. We believe our organization is stronger — and our people thrive — when we honour and celebrate diverse experiences, identities, and perspectives. We’re equally committed to supporting your growth, both professionally and personally.

We provide a barrier‑free recruitment process and work environment. If you require accommodations at any stage, we will work with you to ensure you can bring your best self to the process and beyond.

As part of our recruitment process, EQ uses AI to help screen, assess, and/or select applicants for this position. All AI-enabled outputs are reviewed and validated by our talent team. All candidates considered for hire must successfully complete a criminal background check and credit check. While we appreciate every application, an EQ recruiter will contact only those whose skills and experience most closely match the requirements of the role.

EQB Inc. (TSX: EQB) is the parent company of Equitable Bank, the country's seventh-largest Schedule I bank by assets, which operates EQ Bank, Canada's Challenger Bank™. EQB Inc. serves nearly 4 million Canadians and manages approximately $150 billion in combined assets under management and administration.

To learn more, visit eqb.investorroom.com and eqbank.ca.

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