Manager - Credit Risk Model Validation
Job in
Toronto, Ontario, M5A, Canada
Listing for:
BMO
Full Time
position
Listed on 2026-01-02
Job specializations:
-
Finance & Banking
Banking Analyst, Data Scientist
-
IT/Tech
Data Scientist
Salary/Wage Range or Industry Benchmark: 75900 CAD Yearly
CAD
75900.00
YEAR
Job Description & How to Apply Below
Final date to receive applications:
Address:
100 King Street West
Job Family Group:
Audit, Risk & Compliance
BMO is seeking an experienced professional to join the Model Risk Management Team as Manager, Credit Risk Model Validation
. This role is part of the second-line governance and control function, with a primary focus on validating credit risk models such as AIRB Capital models, adjudication, and account management models.
The position is primarily an individual contributor role, with opportunities for leadership. You will be responsible for performing model validation activities across different stages of the model life cycle, providing effective challenge to model developers, and communicating model risk findings to stakeholders.
This role is ideal for a professional with a strong quantitative background who thrives in a collaborative environment and is committed to advancing model risk governance.
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.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.Ensures alignment between values and behaviour that fosters diversity and inclusion.Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.Recommends and implements solutions based on analysis of issues and implications for the business.Independently validates / tests models and their associated assumptions, benchmarks, and supporting documentation against model vesting process, standards, guidelines and principles; assesses the data for model development as well as inputs to the model; compares validation results with model developer results for replicability.Identifies deficiencies, conditions for model use, recommends changes, and escalates as required; quantifies model risks, documents outcomes and communicates with stakeholders.Identifies where corrective actions are required and escalates per guidelines; monitors and ensures corrective action is taken.Provides technical advice and guidance to assigned business/group on implementation of the model vetting framework, and resolution of model risk issues.Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.Builds effective relationships with internal/external stakeholders.Ensures alignment between stakeholders.Monitors and tracks performance; addresses any issues.Coordinates and monitors the review and sign-off of model validation reporting including model inventory and model inventory attestations.Provides specialized consulting, analytical and technical support.Exercises judgment to identify, diagnose, and solve problems within given rules.Works independently and regularly handles non-routine situations.Broader work or accountabilities may be assigned as needed.Qualifications:
Typically between 3 - 5 years of model validation or development within a financial institution, particularly in the credit risk area.A MSc or PhD degree in related field of study such as statistics, mathematics, data science, actuarial sciences, engineering.Proficiency in Python and SAS is required; experience with other statistical software such as R is considered beneficial.In-depth knowledge and understanding of model validation, model risk management practices.In-depth knowledge of regulatory requirements.Deep knowledge and technical proficiency gained through extensive education and business experience.Verbal & written communication skills - In-depth.Collaboration & team skills - In-depth.Analytical and problem solving skills - In-depth.Influence skills - In-depth.Salary:
$75,900.00 - $
Pay Type:
Sala…
Note that applications are not being accepted from your jurisdiction for this job currently via this jobsite. Candidate preferences are the decision of the Employer or Recruiting Agent, and are controlled by them alone.
To Search, View & Apply for jobs on this site that accept applications from your location or country, tap here to make a Search:
Search for further Jobs Here:
