Senior Specialist Model Validation
Job in
Toronto, Ontario, M5A, Canada
Listing for:
BMO
Full Time, Part Time
position
Listed on 2026-02-17
Job specializations:
-
Finance & Banking
Financial Consultant, Financial Compliance, Banking Analyst, 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:
02/26/2026
Address:
100 King Street West
Job Family Group:
Audit, Risk & Compliance
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.
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.Independent validation of financial, statistical, and machine‑learning models used in asset management (e.g., risk models, return forecasting models, optimization engines, scenario and stress testing tools).Define project scope, develops validation strategies and plans to ensure appropriate type and level of vetting of models is carried out.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.Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.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 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 and etc.).In-depth knowledge and understanding of model validation, model risk management practices.In-depth knowledge of Python & SQL.In-depth knowledge of regulatory requirements.In-depth knowledge & experience with risk policy frameworks; quality control / testing Finance/Economics areas (i.e., MBA).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.Data driven decision making - In-depth.Salary:
$75,900.00 - $
Pay Type:
Salaried
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
BMO Financial Group’s total compensation…
Position Requirements
10+ Years
work experience
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