Senior Analyst, Valuations and Model Development
Top Benefits
About the role
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 This role is responsible for researching and proposing quantitative models for HOOPP’s derivatives products across all asset classes. Following independent review and approval by the Director of Model Validation, the incumbent will develop and prototype pricing models and lead the automation and implementation of these models within the Numerix production environment.
In addition to pricing model development, this role will explore optimal solutions for model-based sensitivity and Greeks calculations across a range of physical and derivatives instruments, as well as the development of robust, market-driven analytics to support performance attribution and decision-making processes.
This role offers a unique opportunity to contribute to HOOPP’s evolving valuation framework through innovative model design, technical execution, and close collaboration with internal stakeholders across Investment, Risk, Technology, and Finance teams.
What You Will Do
- Provide model recommendations for newly invested derivatives products, supported by in-depth analytical reports to justify the mathematical soundness and applicability of each proposed model.
- Under the guidance of senior team member or manager to conduct the full cycle of quantitative model development for derivatives pricing, post-deployment verification. This includes model selection, prototype construction, market and position data consolidation, scripting for production implementation, end-to-end testing (Dev to UAT), defect resolution, and pre/post-production review and analysis.
- Offer subject matter expertise to support senior management in making sound and balanced decisions on complex valuation matters.
- Conduct ongoing reviews of market data quality in accordance with industry standards, with a focus on volatility surfaces, dividend curves, and interest rate curves, to prevent the use of stale or anomalous data in the production environment.
- Collaborate closely with the Model Validation team to formalize and maintain model inventory documentation, conduct periodic reviews and calibrations of existing models, and drive enhancements using innovative and creative approaches.
- Participate in valuation-related projects aligned with departmental and Finance division strategic priorities, contributing research, analysis, and recommendations as needed.
- Explore and implement best practices to mitigate HOOPP’s exposure to undue valuation risk. Continuously identify opportunities to improve processes through new technologies, tools, and methods.
- Provide technical support to team members in the development and testing of valuation models, and in executing ongoing model-related tasks to ensure the accuracy and integrity of HOOPP’s valuations. Troubleshoot and resolve issues proactively.
- Contribute to the development and enhancement of sensitivity and Greeks modeling for both physical and derivatives assets, including improvements to PV01 and CS01 calculations using Numerix methodology. Evaluate and implement optimal approaches for various derivatives instruments to improve risk and valuation analytics.
What You Bring
- Advanced degree (Master’s of Ph.D.) in Quantitative Finance, Statistics, Mathematics, Physics, Engineering, Computer Science, or related fields.
- 3 to 5 years of relevant experience in quantitative finance, derivative modeling, model validation, valuation methodologies.
- CFA and FRM designations are preferred.
- Product knowledge: Advanced theoretical and specialization knowledge of a broad range of valuation models used in the financial industry, especially financial engineering and derivative pricing models.
- Technical Skills: Experience with pricing models and SQL required; hands-on capability in programming language (e.g. Python, C, or C++); familiarity with Power BI advantageous.
- Analytical Abilities: Strong ability to research complex issues, analyze problems, synthesize information, and make recommendations often by identifying innovative solutions. Extensive experience in researching, developing and implementing quantitative models for various analytical initiatives.
- Attention to Detail: High emphasis on accuracy and completeness, with the ability to manage multiple tasks efficiently.
- Intellectual curiosity, a passion for technology and a commitment to demonstrate HOOPP values.
- Desire to learn in a highly collaborative environment and influence others to adopt a different point of view.
- Ability to work collaboratively in a team environment, while also taking ownership of projects independently.
The expected annual base salary range for this role is: $103,000 - $153,000 CAD
The actual base salary offered to the successful candidate may vary based on multiple factors including, but not limited to, individual's expertise and level of experience applicable to the role they are being offered.
This role is eligible to participate in discretionary incentive plan(s), subject to the terms and conditions of the applicable incentive plan text.
This job is for an existing vacancy.
About HOOPP (Healthcare of Ontario Pension Plan)
Established in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is a multi-employer defined benefit pension plan for Ontario's hospital and community-based healthcare sector. We serve more than 460,000 members who provide valued healthcare services at more than 670 employers across the province. At HOOPP, we exist to provide a stable and reliable pension for our members that starts in retirement and is paid for life. As one of Canada's largest and most respected pension plans, HOOPP's net assets reached $112.6 billion at the end of 2023 and our funded status remained strong at 115%. HOOPP's core values - professional, accountable, collaborative, compassionate and trustworthy - guide our every interaction with our members, employers and employees.
We've become one of Canada's leading pension plans by consistently challenging ourselves and embracing innovation. From our unique investment management approach to our innovative technology and thought-provoking research, we constantly seek to push the boundaries, and we do this by hiring passionate, forward-thinking people. Our high-performance culture, which spans our head office in Toronto and our office in London (UK), is founded on collaboration, respect and belonging. HOOPP is an equal opportunity employer and we're proud of our diversity. We select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact our Human Resources team. We will be happy to consult with you so that arrangements can be made for reasonable accommodation.
Senior Analyst, Valuations and Model Development
Top Benefits
About the role
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 This role is responsible for researching and proposing quantitative models for HOOPP’s derivatives products across all asset classes. Following independent review and approval by the Director of Model Validation, the incumbent will develop and prototype pricing models and lead the automation and implementation of these models within the Numerix production environment.
In addition to pricing model development, this role will explore optimal solutions for model-based sensitivity and Greeks calculations across a range of physical and derivatives instruments, as well as the development of robust, market-driven analytics to support performance attribution and decision-making processes.
This role offers a unique opportunity to contribute to HOOPP’s evolving valuation framework through innovative model design, technical execution, and close collaboration with internal stakeholders across Investment, Risk, Technology, and Finance teams.
What You Will Do
- Provide model recommendations for newly invested derivatives products, supported by in-depth analytical reports to justify the mathematical soundness and applicability of each proposed model.
- Under the guidance of senior team member or manager to conduct the full cycle of quantitative model development for derivatives pricing, post-deployment verification. This includes model selection, prototype construction, market and position data consolidation, scripting for production implementation, end-to-end testing (Dev to UAT), defect resolution, and pre/post-production review and analysis.
- Offer subject matter expertise to support senior management in making sound and balanced decisions on complex valuation matters.
- Conduct ongoing reviews of market data quality in accordance with industry standards, with a focus on volatility surfaces, dividend curves, and interest rate curves, to prevent the use of stale or anomalous data in the production environment.
- Collaborate closely with the Model Validation team to formalize and maintain model inventory documentation, conduct periodic reviews and calibrations of existing models, and drive enhancements using innovative and creative approaches.
- Participate in valuation-related projects aligned with departmental and Finance division strategic priorities, contributing research, analysis, and recommendations as needed.
- Explore and implement best practices to mitigate HOOPP’s exposure to undue valuation risk. Continuously identify opportunities to improve processes through new technologies, tools, and methods.
- Provide technical support to team members in the development and testing of valuation models, and in executing ongoing model-related tasks to ensure the accuracy and integrity of HOOPP’s valuations. Troubleshoot and resolve issues proactively.
- Contribute to the development and enhancement of sensitivity and Greeks modeling for both physical and derivatives assets, including improvements to PV01 and CS01 calculations using Numerix methodology. Evaluate and implement optimal approaches for various derivatives instruments to improve risk and valuation analytics.
What You Bring
- Advanced degree (Master’s of Ph.D.) in Quantitative Finance, Statistics, Mathematics, Physics, Engineering, Computer Science, or related fields.
- 3 to 5 years of relevant experience in quantitative finance, derivative modeling, model validation, valuation methodologies.
- CFA and FRM designations are preferred.
- Product knowledge: Advanced theoretical and specialization knowledge of a broad range of valuation models used in the financial industry, especially financial engineering and derivative pricing models.
- Technical Skills: Experience with pricing models and SQL required; hands-on capability in programming language (e.g. Python, C, or C++); familiarity with Power BI advantageous.
- Analytical Abilities: Strong ability to research complex issues, analyze problems, synthesize information, and make recommendations often by identifying innovative solutions. Extensive experience in researching, developing and implementing quantitative models for various analytical initiatives.
- Attention to Detail: High emphasis on accuracy and completeness, with the ability to manage multiple tasks efficiently.
- Intellectual curiosity, a passion for technology and a commitment to demonstrate HOOPP values.
- Desire to learn in a highly collaborative environment and influence others to adopt a different point of view.
- Ability to work collaboratively in a team environment, while also taking ownership of projects independently.
The expected annual base salary range for this role is: $103,000 - $153,000 CAD
The actual base salary offered to the successful candidate may vary based on multiple factors including, but not limited to, individual's expertise and level of experience applicable to the role they are being offered.
This role is eligible to participate in discretionary incentive plan(s), subject to the terms and conditions of the applicable incentive plan text.
This job is for an existing vacancy.
About HOOPP (Healthcare of Ontario Pension Plan)
Established in 1960, the Healthcare of Ontario Pension Plan (HOOPP) is a multi-employer defined benefit pension plan for Ontario's hospital and community-based healthcare sector. We serve more than 460,000 members who provide valued healthcare services at more than 670 employers across the province. At HOOPP, we exist to provide a stable and reliable pension for our members that starts in retirement and is paid for life. As one of Canada's largest and most respected pension plans, HOOPP's net assets reached $112.6 billion at the end of 2023 and our funded status remained strong at 115%. HOOPP's core values - professional, accountable, collaborative, compassionate and trustworthy - guide our every interaction with our members, employers and employees.
We've become one of Canada's leading pension plans by consistently challenging ourselves and embracing innovation. From our unique investment management approach to our innovative technology and thought-provoking research, we constantly seek to push the boundaries, and we do this by hiring passionate, forward-thinking people. Our high-performance culture, which spans our head office in Toronto and our office in London (UK), is founded on collaboration, respect and belonging. HOOPP is an equal opportunity employer and we're proud of our diversity. We select applicants for employment solely on the basis of their qualifications. Should you require accommodation because of a disability during the recruitment and selection process, please contact our Human Resources team. We will be happy to consult with you so that arrangements can be made for reasonable accommodation.