Senior Manager, Modeling and Analytics

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Seeking a skilled and experienced professional to join our Model Development Team as a Senior Manager, Retail Modeling, Credit Risk. As a Senior Manager in our modeling for risk management, governance, and control function, you will play a pivotal role in the development of credit risk models, with particular emphasis on Retail Allowance (IFRS9/ CECL) and Retail Stress Testing (CCAR/EWST) models. Experience in other credit risk families such as AIRB models, credit adjudication and account management models are also relevant. This dynamic position requires a balance of leadership/people manager and individual contributor skills.

Key Role Responsibilities:

• Model Development: You will lead the development of models, other estimation approaches and critical tool calculators for estimating and assess the model risk to confirm model appropriateness and capability for a designated portfolio. You are responsible for developing and maintaining strong credit risk models and communicating decisions regarding the models to the business to ensure transparency and understanding of models and model risks.

• Analytics on model results: You will be responsible to analyze and present insights into the model results. These analyses will be used to inform management overlays in the reporting process.

• Stakeholder Engagement: Effective communication is crucial in this role. You will manage relationships with model validation, owners, and users, influencing and advising on model risk-related matters. Your ability to explain complex technical concepts in everyday language will set you apart.

• Project Management: Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution. Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.

• Change Management: BMO is at the forefront of innovation in model risk management. You will be part of the team that drives change by embracing new technology platforms, tools, and operating models. Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.

• Regulatory Expertise: Acts as a subject matter expert on relevant regulations and policies. May network with industry contacts to gain competitive insights and best practices. Interprets new regulations and assesses impacts to the program / portfolio validation framework.

• Risk Understanding: You will need to connect the dots between technical issues and business considerations.

What we are looking for:

• An MBA or MSc or PhD in quantitative fields such as statistics, applied mathematics, financial mathematics, data science, actuarial sciences, engineering, or related fields.

• A minimum of 7 years of experience in model development and/or validation within a financial institution, particularly in the credit risk area.

• Certifications: While qualifications like CFA/ FRM are helpful, they are not mandatory.

• Experience in credit risk models, including Stress Testing, Provisioning, loss forecasting, AIRB and Adjudication/Account Management.

• Proficiency in a programming language such as Python, R, and SAS (Python is preferred).

• Proficiency in working with relational databases – SQL or Oracle.

• Working with Big data tools and Cloud platforms (AWS/Azure) is a plus.

• A can-do attitude and a research, deep-dive mindset.

If you’re looking for your next dream job, consider this one in BMO’s Enterprise Risk Group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture.  #ERPMDreamJobs

Applies mathematical and statistical methods to financial and risk management problems (e.g. internal controls; enterprise-wide stress testing and scenario analysis; capital modelling; valuations). Through quantitative analytical modelling, identifies important factors to consider for financial disaster and recovery plans. Conducts research and creates tools that use data to develop scenario-based planning and implements complex mathematical models to help the business make better financial and financial decisions (e.g. investments, pricing, etc.), drive innovation and minimize the impact of uncertainty.

• Develops pricing and quantitative risk models for an assigned portfolio e.g. fixed income, corporate credit and loans.

• Monitors risk in strategies and portfolios alongside project managers or functional leads.

• Conducts research and develops tools that use data to make better financial decisions; such as: investments, pricing, etc.

• Applies knowledge of risk assessment and controls along with extensive understanding of industry compliance standards and regulations.

• Identifies ways of mitigating potential risks; recommends and implements solutions based on analysis of issues and implications for the business.

• Documents data flow, systems and processes to improve the design, implementation and management of business/group processes.

• Conducts quantitative research in risks across strategies and portfolios.

• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.

• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.

• Implements changes in response to shifting trends.

• Broader work or accountabilities may be assigned as needed.

Qualifications:

Intermediate level of proficiency:

• Regulatory capital and stress testing.

• Compliance and regulation.

• Machine learning.

• Learning Agility.

• Systems Thinking.

Advanced level of proficiency:

• Model risk management.

• Data visualization.

• Data wrangling.

• Data preprocessing.

• Critical thinking.

• Driving Results.

• Quantitative financial modeling.

• Computational thinking and programming.

• Verbal & written communication skills.

• Analytical and problem solving skills.

• Collaboration & team skills; with a focus on cross-group collaboration.

• Able to manage ambiguity.

• Data driven decision making.

• Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• Seasoned professional with a combination of education, experience and industry knowledge.

• Data driven decision making - In-depth / Expert.

Salary:

Pay Type:

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact.  We strive to help you make an impact from day one – for yourself and our customers.  We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.