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Senior Manager, Credit Risk Model Governance

2 months ago

Toronto, Ontario, Canada BMO Full time
About the Role

We are seeking a highly skilled and experienced Senior Manager to join our Model Risk Management Team at BMO. 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, including credit adjudication and account management models, Capital, Stress Testing and Allowance models.

Key Responsibilities
  • Model Risk Review and Effective Challenge: You will perform the validation of models and assess the model risk to confirm model appropriateness and capability for a designated portfolio. You will be responsible for providing effective challenge to the credit risk models during model development and communicating decisions regarding model use to the business to ensure transparency and understanding of models and model risks.
  • Stakeholder Engagement: Effective communication is crucial in this role. You will manage relationships with model developers, 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: You will recommend business priorities, advise on resource requirements, and develop a roadmap for strategic execution. You will manage resources and lead 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. You will lead change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.
  • Regulatory Expertise: You will act as a subject matter expert on relevant regulations and policies. You may network with industry contacts to gain competitive insights and best practices. You will interpret new regulations and assess impacts to the program/portfolio validation framework.
  • Risk Understanding: You will need to connect the dots between technical issues and business considerations.
Requirements
  • 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.
About BMO

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.