Senior Specialist Model Validation
Senior Specialist Model Validation
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Job Description
Application Deadline:
Address:
100 King Street WestJob Family Group:
Are you a quantitative finance professional with a passion for market risk and model validation BMO is seeking a Senior Specialist Model Validation to join our dynamic Market Risk Validation team under the leadership of Jian Senior Manager Market Risk Validation
This is a pivotal role at the forefront of the Counterparty Credit Risk (CCR) replacement project offering a unique opportunity to contribute directly to this highimpact initiative
What Youll Do:
Lead the validation of CCR and Market Risk models ensuring they meet regulatory and internal standards
Maintain model risk controls by supporting businessasusual activities ensuring the bank remains compliant and resilient
Deliver highquality model validation reports aligned with internal templates and Model Risk Management guidelines
Engage crossfunctional stakeholders offering clarity and insight into model performance methodology and outcomes
Who You Are:
You bring 57 years of experience in quantitative finance with a strong foundation in market risk Prior CCR model exposure is highly preferred
You hold a Masters degree in a quantitative discipline (e.g. Financial Engineering Mathematics Statistics or related fields)
Youre a clear communicator both in writing and verbally able to translate complex technical concepts into accessible language for nontechnical stakeholders
Youre a selfstarter with the independence to manage projects but you also thrive in team environments and collaborative settings
You are meticulous analytical and qualitydriven with a strong sense of ownership over your work
A strong quant background is essential
Work Environment:
This is a hybrid role with inoffice collaboration on Wednesdays and Thursdays
If youre looking for your next dream job consider this one in BMOs Enterprise Risk Group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprisewide risks working together to maintain a risk management framework and fostering a strong risk culture. #ERPMDreamJobs
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 models 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.
Influences and negotiates to achieve business objectives.
Recommends and implements solutions based on analysis of issues and implications for the business.
Assists in the development of strategic plans.
Identifies emerging issues and trends to inform decisionmaking.
Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
Helps determine business priorities and best sequence for execution of business/group strategy.
Conducts independent analysis and assessment to resolve strategic issues.
Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
Represents the model validation program / portfolio for internal/external regulatory audits and/or examinations.
Ensures alignment between stakeholders.
Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments planning stakeholder management execution evaluation and sustainment of initiatives.
Leads the research and development for validation of new types of models.
Leads and integrates the monitoring measurement & reporting of the status of the model validation program / portfolio to internal & external stakeholders.
Provides input into the planning and implementation of ongoing operational programs in support of the model vetting framework and portfolio.
Leads/participates in the design implementation and management of core business/group processes.
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 indepth 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 signoff of model validation reporting including model inventory and model inventory attestations.
Focus is primarily on business/group within BMO; may have broader enterprisewide focus.
Provides specialized consulting analytical and technical support.
Exercises judgment to identify diagnose and solve problems within given rules.
Works independently and regularly handles nonroutine situations.
Broader work or accountabilities may be assigned as needed.
Qualifications:
Typically between 5 7 years of relevant experience and postsecondary degree in related field of study or an equivalent combination of education and experience.
Indepth knowledge and understanding of model validation model risk management practices.
Indepth knowledge of regulatory requirements.
Indepth 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 Indepth.
Collaboration & team skills Indepth.
Analytical and problem solving skills Indepth.
Influence skills Indepth.
Data driven decision making Indepth.
Salary:
Pay Type:
The above represents BMO Financial Groups 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 parttime roles will be prorated based on number of hours regularly worked. For commission roles the salary listed above represents BMO Financial Groups expected target for the first year in this position.
BMO Financial Groups total compensation package will vary based on the pay type of the position and may include performancebased incentives discretionary bonuses as well as other perks and rewards. BMO also offers health insurance tuition reimbursement accident and life insurance and retirement savings plans. To view more details of our benefits please visit: Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting positive change for our customers our communities and our people. By working together innovating and pushing boundaries we transform lives and businesses and power economic growth around the world.
As a member of the BMO team you are valued respected and heard and you have more ways to grow and make an impact. We strive to help you make an impact from day one for yourself and our customers. Well support you with the tools and resources you need to reach new milestones as you help our customers reach theirs. From indepth training and coaching to manager support and networkbuilding opportunities well help you gain valuable experience and broaden your skillset.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO directly or indirectly will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid written and fully executed agency agreement contract for service to submit resumes.
Required Experience:
Senior IC
Employment Type
Full-Time
