Senior Specialist Model Validation

Senior Specialist Model Validation BMO Position Summary Performs validation of models and assesses model risk to confirm model appropriateness and capability for a designated portfolio. Provides effective challenge during model development and communicates decisions regarding model use to the business to ensure transparency and understanding of models and model risks. Assesses model’s capabilities, stress points and limitations; assesses the associated model risk and the controls in place to mitigate identified risks. Responsibilities Acts as a trusted advisor to assigned business/group. Leads the research and development for validation of new types of models. Independently manage the complete validation project lifecycle for a suite of Market Risk models, including Value‑at‑Risk (VaR), FRTB and Stress Testing. Define project scope, develop validation strategies and plans to ensure appropriate type and level of vetting of models is carried out. Independently validate and test models and their associated assumptions, benchmarks, and supporting documentation against model vesting process, standards, guidelines and principles; assess the data for model development as well as inputs to the model; compare validation results with model developer results for replicability. Identify deficiencies, conditions for model use, recommend changes, and escalates as required; quantify model risks, document outcomes and communicate with stakeholders. Identify where corrective actions are required and escalates per guidelines; monitor and ensure corrective action is taken. Provide technical advice and guidance to assigned business/group on implementation of the model vetting framework, and resolution of model risk issues. Develop and maintain in‑depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance. Build effective relationships with internal/external stakeholders. Ensure alignment between stakeholders. Monitor and track performance; address any issues. Coordinate and monitor the review and sign‑off of model validation reporting including model inventory and model inventory attestations. Focus is primarily on business/group within BMO; may have broader, enterprise‑wide focus. Provide specialized consulting, analytical and technical support. Exercise judgment to identify, diagnose, and solve problems within given rules. Work independently and regularly handle non‑routine situations. Broader work or accountabilities may be assigned as needed. Qualifications Typically 5+ years of experience in Market Risk model validation, quantitative risk or model development within a global financial institution. Master or PhD in a quantitative field (Finance, Mathematics, Physics, Engineering etc.). In‑depth knowledge and understanding of model validation and model risk management practices. In‑depth knowledge of regulatory requirements. In‑depth knowledge and experience with risk policy frameworks; quality control / testing frameworks in Finance/Economics areas (e.g., MBA). Deep knowledge and technical proficiency gained through extensive education and business experience. Verbal and written communication skills – In‑depth. Collaboration and team skills – In‑depth. Analytical and problem‑solving skills – In‑depth. Influence skills – In‑depth. Data‑driven decision making – In‑depth. Compensation Salary: $75,900.00 – $141,900.00 (annual) Benefits Health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. BMO also offers performance‑based incentives, discretionary bonuses, and other perks and rewards. For more details of our benefits, please visit: Total Rewards About BMO At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. We transform lives and businesses, powering economic growth around the world. We value, respect, and listen to our people, supporting growth and impact from day one. #J-18808-Ljbffr