Model Risk Governance Expert
6 days ago
We are seeking a highly skilled and experienced professional to join our Model Risk Management Team as a Senior Manager, Model Risk, Credit Risk. As a Senior Manager in our second-line governance and control, you will play a pivotal role in overseeing the validation of credit risk models, such as credit adjudication and account management models, Capital, Stress Testing and Allowance models.
Key Responsibilities- Model Risk Review and Effective Challenge: Perform the validation of models and assess the model risk to confirm model appropriateness and capability for a designated portfolio. Provide effective challenge to the credit risk models during model development and communicate decisions regarding model use to the business to ensure transparency and understanding of models and model risks.
- Stakeholder Engagement: Manage relationships with model developers, owners, and users, influencing and advising on model risk-related matters.
- Project Management: Recommend business priorities, advise on resource requirements, and develop roadmap for strategic execution.
- Change Management: Drive change by embracing new technology platforms, tools, and operating models.
- Regulatory Expertise: Act as a subject matter expert on relevant regulations and policies.
- Risk Understanding: Connect the dots between technical issues and business considerations.
- A postgraduate degree in quantitative fields such as statistics, mathematics, financial mathematics, data science, actuarial sciences or related fields.
- A minimum of 7 years of experience in model development, validation, or governance within a financial institution, particularly in the credit risk area.
- Certifications: While qualifications like CFA are helpful, they are not mandatory.
- Experience in credit risk models, including AIRB, Stress Testing & loss forecasting, and Adjudication.
- Proficiency in a programming language such as Python, R, and SAS.
- Proficiency in working with relational databases – SQL or Oracle.
- Working with Big data tools and Cloud platforms (AWS/Azure) is a plus.
Our team values flexibility, collaboration and in-person engagement. This position is located in Toronto and offers flexibility with a hybrid work arrangement where the successful candidate will spend at least 2 days per week on-site and the other days remote.
BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives and other perks and rewards.
BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process.
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