Econometrician

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We’re recognized as an extraordinary place to work that embraces diversity, where everyone is respected and valued. TD is the sixth largest bank in North America by branches, with many exciting and challenging career opportunities in our four key businesses: :

 

 

Department Overview:

TD Economics provides analyses and forecasts of economic activity and financial markets for the business units and customers of TD Bank Group (TDBG). The work for the business units serves as input to financial planning, risk management, asset and liability allocation, wealth management advice and trading strategies. Through publications, presentations and media interviews, TD Economics’ work provides advice for bank customers’ financial and business planning strategies. TD Economics also provides research on major policy issues that may affect the performance of the economy.

 

Along with resume and cover letter, all applicants are required to submit a concise answer to the following questions:

 

Assume you have to develop a model to forecast mortgage loan volumes in the U.S. using quarterly data. Describe which alternative models (i.e., variables, specification, estimation methodology, etc.) you would consider and what criteria would guide your selection of a preferred model.

 

Would you change your model if in addition to forecasting it would also be used for stress testing exercises?

 

Be as thorough as you deem necessary, but do not exceed 700 words.

 

Job Description:

The Econometrician role will support the risk management operations within TD Economics. This position is for an individual with a strong economic forecasting background. The candidate will be responsible for developing new models, analytic processes, impact studies and system approaches for stress testing and risk management. The position is located in downtown Toronto, Ontario, Canada and reports to the Deputy Chief Economist.

 

Primary Responsibilities:

• Data modeling, and developing and enhancing VARs, ECMs, and other time-series and structural models to be used in stress testing and risk management exercises.

• Designing and implementing additional statistical back-testing measures

• Identifying and addressing potential model shortcomings with regards to accuracy and model mis-specification.

• Participate in the development of risk management methodologies by enhancing existing analytical models and focusing on improving the econometric aspects of the research efforts

• Assist in developing macroeconomic scenarios in support of risk management exercises to stress test the bank’s balance sheet

• High aptitude to write clearly and succinctly in order to provide model documentation and stress test scenario overviews to internal and external stakeholders.

• Effective communicator to deliver presentations to internal stakeholders (including Senior Management, Board risk committees) and external regulators (Federal Reserve, OCC)

• Act as a key interface between TD Economics and TD’s stress test implementation team – which requires the econometrician to build relationships with the internal lines of businesses and collaborate on developing stress test scenarios.

 

Job Requirements:

• Expertise in applied statistics and econometrics, in combination with solid macroeconomic foundations.

• Strong knowledge of econometric models and other risk measures;

• Hands-on experience with EViews and/or MATLAB;

• Excellent communication and presentation skills;

• Knowledge of international financial markets, including fixed income and foreign exchange;

• Knowledge of the banking industry and how economics can be used to improve its performance;

• Ability to build and maintain strong partnerships with external and internal clients, as well as stakeholders at senior levels to ensure that services and information is value-added and meets their needs or anticipated needs;

• Knowledge of the structure and performance of the US economy. Regional knowledge is an asset;

• An MA or PhD in economics with a concentration in econometrics. Relevant work experience preferred;

• Solid knowledge of econometrics in theory and in application;

• Experience in financial data modeling / analysis is an asset

 

Inclusiveness:

At TD, we are committed to fostering an inclusive, accessible environment, where all employees and customers feel valued, respected and supported. We are dedicated to building a workforce that reflects the diversity of our customers and communities in which we live and serve, and creating an environment where every employee has the opportunity to reach her/his potential.

 

TD is committed to providing accommodations. if you require an accommodation, we will work with you to meet your needs.

October 9, 2013 • Tags: , • Posted in: Financial

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