Senior Director, Model Validation

Why you’ll love working here:

• high-performance, people-focused culture

• our commitment that equity, diversity, and inclusion are fundamental to our work environment and business success, which helps employees feel valued and empowered to be their authentic selves

• learning and development initiatives, including workshops, Speaker Series events and access to LinkedIn Learning, that support employees’ career growth

• membership in HOOPP’s world class defined benefit pension plan, which can serve as an important part of your retirement security

• competitive, 100% company-paid extended health and dental benefits for permanent employees, including coverage supporting our team's diversity and mental health (e.g., gender affirmation, fertility and drug treatment, psychological support benefits of $2,500 per year, parental leave top-up, and a health spending account).

• optional post-retirement health and dental benefits subsidized at 50%

• yoga classes, meditation workshops, nutritional consultations, and wellness seminars

• the opportunity to make a difference and help take care of those who care for us, by providing a financially secure retirement for Ontario healthcare workers

Job Summary

Reporting to the VP, Risk Governance, the Senior Director, Model Validation is responsible for leading and overseeing the enterprise-wide model validation function, applying a pragmatic, risk-based approach that balances rigorous assurance with resource considerations. The role is primarily focused on executing and providing oversight of model validations across the organization, complemented by on-demand advisory support and contributions to model governance activities, including policy enhancements and stewardship of the model inventory.

This is a senior individual contributor position requiring versatility across a broad range of model types, strong judgment in prioritization, and an approachable, collaborative style to work effectively with validators in other teams, peer reviewers, external validation providers, and model owners across the organization.

What you will do:

Model Validation Program Leadership (Primary Focus)

• Lead and execute independent model validations across a broad range of models, including market, liquidity, credit, investment, pricing, actuarial, and AI/ML models.

• Provide enterprise-wide oversight and coordination of validation activities conducted by staff in other groups, ensuring consistency, quality, and adherence to established standards.

• Cultivate strong relationships with quantitative experts across HOOPP—particularly in Investments, Finance, Actuarial, and Risk—to encourage their participation in validation activities and build a sustainable peer review model that leverages internal expertise.

• Establish a structured approach for involving internal quants in validation exercises, including clear expectations, guidance, technical review templates, and knowledge-sharing mechanisms.

• Manage and oversee external validation providers, ensuring the quality and consistency of deliverables.

• Evaluate conceptual soundness, methodological rigor, data quality, implementation accuracy, and ongoing model performance.

• Communicate findings clearly and constructively, and follow up on remediation actions.

Support to Model Risk Governance (under VP, Risk Governance Leadership)

• Contribute subject-matter expertise to the enhancement of model risk policies, standards, and procedures.

• Support the VP, Risk Governance in maintaining and improving the model inventory, including model classification and risk tiering.

• Provide feedback on documentation quality, change control practices, and performance monitoring expectations.

• Assist in preparing model risk reporting for senior management and governance committees.

• Stay informed of industry developments and provide insights to help refine governance expectations proportionately.

On-Demand Advisory and Model Development

• Support other teams with on-demand services, including modeling advisory and model development.

• Serve as a subject-matter expert in model development and validation across market, liquidity, credit, investment, pricing, actuarial, and AI/ML-enabled models.

Stakeholder Engagement & Organizational Influence

• Build strong, collaborative relationships with validation staff from other groups, as well as model owners and model developers across HOOPP.

• Act as a trusted advisor and constructive challenger, helping stakeholders strengthen documentation, controls, and modeling practices

What you bring:

• Advanced degree in a quantitative discipline (e.g., Finance, Mathematics, Statistics, Engineering, Physics, Computer Science, Actuarial Science) or equivalent experience.

• 10+ years of experience in model validation, model risk management, or quantitative modeling roles.

• Deep expertise in developing and validating valuation and risk models across private and public markets.

• Proven ability to develop or review a wide variety of model types, including risk, pricing, investment, actuarial, and AI/ML models.

• Strong understanding of model development lifecycles, validation methodologies, performance monitoring, and implementation testing.

• Experience coordinating multidisciplinary teams and managing outsourced validation engagements.

• Excellent communication and relationship-building skills, with the ability to influence without formal authority.

• Experience in pension, asset management, banking, or insurance contexts is considered an asset.

• Technical Breadth & Depth: Able to understand and challenge a wide range of quantitative models.

• Judgment and Prioritization: Skilled in focusing efforts on areas of highest material risk.

• Collaboration & Influence: Diplomatic, approachable, and effective at working with diverse stakeholders.

• Communication: Clear and concise; able to distill complex technical issues.

• Analytical Problem-Solving: Strong ability to evaluate methodologies, identify weaknesses, and recommend solutions.

• Adaptability: Comfortable with traditional models as well as emerging AI/ML techniques.

• Execution Excellence: Highly organized and capable of managing multiple validations and stakeholders concurrently.