Risk Modeling Manager

2 months ago

Toronto, Ontario, Canada BMO Full time
Job Summary

We are seeking a highly skilled Risk Modeling Manager to join our team at BMO. As a key member of our data science and risk management team, you will be responsible for developing and maintaining credit risk models and strategies for our Canadian Personal & Business Banking portfolios.

Key Responsibilities
  • Develop and maintain credit risk models and strategies for assigned portfolios, including fixed income, corporate credit, and loans.
  • Support the development and maintenance of machine learning statistical and/or other scoring and forecasting models and tools.
  • Work with risk and lines of business teams to develop analytic solutions, ad-hoc analysis, and modeling to drive new initiatives, improve business processes, and deliver value using data-driven decisions.
  • Monitor risk in strategies and portfolios alongside project managers or functional leads.
  • Design, develop, and maintain code used for data engineering and data science tasks to prepare, manipulate, and analyze large internal and external datasets using SAS, R, Python, or SQL.
  • Support the delivery and enhancement of regularly scheduled reporting packages for models and/or credit risk strategic initiatives.
  • Conduct research and develop tools that use data to make better financial decisions, such as investments, pricing, etc.
  • Apply knowledge of risk assessment and controls along with extensive understanding of industry compliance standards and regulations.
  • Identify ways of mitigating potential risks and recommend and implement solutions based on analysis of issues and implications for the business.
  • Document data flow, systems, and processes to improve the design, implementation, and management of business/group processes.
  • Conduct quantitative research in risks across strategies and portfolios.
Requirements
  • Degree in Statistics, Mathematics, Actuarial Science, Engineering, Operations Research, or another highly quantitative field with a track record of academic excellence.
  • At least 2 years' experience with developing data science and data engineering solutions.
  • Understanding of credit risk concepts is an asset.
  • Knowledge of various statistical software skills, including SAS, R, Python, etc.
Desired Characteristics
  • Advanced programming skills, proficiency with programming languages such as R, SAS, Python, or SQL, and a high level of familiarity with Microsoft Office tools.
  • Strong project management skills with the ability to manage multiple assignments effectively.
  • Understanding of risk management concepts, including Probability of Default (PD), Exposure at Default (EAD), and Loss Given Default (LGD), etc.
  • Experience developing data science models and solutions.
  • Experience working with big data.
Foundational Level of Proficiency
  • Regulatory capital and stress testing.
  • Compliance and regulation.
  • Machine learning.
  • Learning Agility.
  • Systems Thinking.
Intermediate Level of Proficiency
  • Model risk management.
  • Data visualization.
  • Data wrangling.
  • Data preprocessing.
  • Critical thinking.
  • Driving Results.
  • Verbal & written communication skills.
  • Collaboration & team skills.
  • Analytical and problem-solving skills.
  • Data-driven decision making.
Advanced Level of Proficiency
  • Quantitative financial modeling.
  • Computational thinking and programming.
  • Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • Deep knowledge and technical proficiency gained through extensive education and business experience.
Salary and Benefits

The salary range for this position is $81,000 - $151,200 per year, with a comprehensive benefits package including health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans.

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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