Purpose
The General Model Risk Management area provides independent and consistent model validation and approval across various risk types, including market risk, retail/non‐retail credit risk, operational risk, capital models, Anti Money Laundering (AML) and other key risk/financial models.
Accountabilities
Validate models across various risk types.
For the model being validated, review the methodology implemented for reasonableness and applicability, assess soundness of model methodology, review the architecture of the software application implementing the model, perform quantitative tests and qualitative assessments of the model, execute independent calculations, and analyze/interpret model output and complete draft validation.
Conduct comprehensive review of the data and model risk governance activities by tracking progress, including the independent replication of data extraction from SAS MRM and data manipulation steps, as well as assessing the suitability and sanity of the data sources.
Assess regulatory requirements and develop and maintain policy addendums to Global Model Risk Management policies, ensuring alignment with global governance standards across jurisdictions and evolving regulatory expectations applicable to advanced analytics and AI.
Establish communication with model validators, owners and developers to understand model rationale and issues; maintain relationships with key contacts as identified for each validation.
Maintain collaborative relationships with clients.
Provide support to the Senior Manager to respond to ad hoc regulatory and reporting requirements, enabling effective governance oversight, regulatory and audit responses, and management information needs.
Recommend and contribute to innovation and continuous improvements to tests/methods to fulfill internal validation and governance needs and to align (if applicable) with industry practices.
Support the Senior Manager in keeping the inventory system updated by executing data quality controls,



consistency checks and quality assurance standards on the enterprise‐wide model inventory, and proactively identifying data issues, escalating findings, supporting remediation and continuous improvements.
Comply with internal policies, procedures, and regulatory requirements where applicable.
Provide support to resolve outstanding audit and regulatory issues, and to respond to ad hoc senior management and regulatory requests.
Education / Experience / Other Information
1.5 years of experience in data management or data architecture, with familiarity and comfort in handling large data.
1+ year of experience in Risk Management, Model Risk Management, Audit, Compliance or related functions involving risk identification, oversight, monitoring and reporting or development and/or validation of risk and/or financial models (preferred).
Knowledge of risk predictive models, time‐series and mathematical statistics (preferred).
Exposure or experience in other risk functions such as credit risk, provision models, market risk, or operational risk management also desirable.
Required Functional (Technical) Competencies
Sound understanding of various modelling techniques and comfortable conducting various testing.
Working knowledge of statistical techniques and proven ability to employ these to analyze large sets of data.
Ability to effectively utilize relational database and SQL queries for data analysis.
Proficiency in constructing and executing distributed queries from a variety of databases/sources.
Excellent verbal and written communication skills.
Hands‐on programming skills, particularly statistical and database modeling tools (SQL, SAS, R, Python or similar).
Ability to adapt to various programming languages and environments.
Knowledge of financial risk management, especially issues and techniques pertaining to model risk management – including their practical implications and limitations (desirable).
Ability to speak and write in English (B2).
Working Conditions
Work in a standard office‐based environment; non‐standard hours are a common occurrence.
Location(s): Colombia: Bogota.
#J-*****-Ljbffr

📌 Senior Analyst, Model Risk Management (Bogotá)
🏢 Scotiabank
📍 Bogotá