Manager, Treasury Models Validation

BMO Financial Group; Toronto; On-site; CAD 74,000 - 139,000; Full time

Job summary

BMO Financial Group is seeking a Model Validator to join their Audit, Risk & Compliance team in Toronto. The ideal candidate will have extensive experience in model validation, risk management practices, and proficiency in SAS and Python. This role offers the opportunity to work independently while collaborating with stakeholders on model development and risk oversight. A commitment to diversity and inclusion is essential, as well as the ability to foster collaboration and drive team performance.

Benefits

Health insurance

Tuition reimbursement

Retirement plans

Qualifications

• 5-7 years of relevant experience.
• Deep knowledge of model validation and regulatory requirements.
• Experience with risk policy frameworks.

Responsibilities

• Perform validation of Treasury models and assess model risk.
• Provide effective challenge during model development.
• Develop validation strategies and document outcomes.

Skills

Model validation

Risk management practices

Communication

Collaboration

Analytical skills

Data-driven decision-making

Proficiency in SAS

Proficiency in Python

Education

Post-secondary degree or equivalent

MBA (or equivalent)

Job description

Application Deadline: 06/01/2025

Address: 100 King Street West

Job Family Group: Audit, Risk & Compliance

This individual contributor, technically focused role allows you to utilize your creativity. You will work with models, receive minimal guidance, and have the freedom to test and push boundaries. The ideal candidate has experience with model validation or development, familiarity with QRM, and knowledge of SAS or Python. There will be significant opportunities to interact with stakeholders involved in model development, Structural Market Risk, Market Risk Oversight, and understanding how the bank manages interest rate exposure.

Responsibilities include:

1. Perform validation of Treasury models (Structural Market Risk and PPNR models) and assess model risk for a designated portfolio.
2. Provide effective challenge during model development and communicate decisions regarding model use to ensure transparency and understanding.
3. Assess model capabilities, stress points, limitations, and associated risks, along with controls to mitigate these risks.
4. Build a culture aligned with BMO’s purpose, values, and strategy, acting as a role model for BMO’s values and behaviors.
5. Ensure diversity and inclusion are integrated into team culture.
6. Set inspirational goals, define clear outcomes, and ensure accountability.
7. Foster collaboration across functions to create value for stakeholders.
8. Attract, retain, and develop top talent, improving team performance and recognizing achievements.
9. Act as a trusted advisor, influence, and negotiate to achieve business objectives.
10. Develop strategic plans, identify emerging issues, and research best practices to recommend changes.
11. Support strategic initiatives and represent the model validation program during audits or examinations.
12. Build stakeholder alignment and lead change management activities.
13. Lead research and development for validation of new model types.
14. Monitor, measure, and report on the status of the validation program.
15. Develop validation strategies, validate models independently, and document outcomes.
16. Identify deficiencies, recommend changes, and escalate issues as needed.
17. Provide technical guidance on model risk issues and develop in-depth knowledge of related regulatory requirements.
18. Build effective stakeholder relationships and ensure ongoing performance monitoring.
19. Coordinate review and sign-off of validation reports, maintaining model inventories.
20. Provide specialized consulting and technical support, working independently on non-routine issues.

Qualifications:

1. Typically 5-7 years of relevant experience with a related post-secondary degree or equivalent.
2. Deep knowledge of model validation, risk management practices, and regulatory requirements.
3. Experience with risk policy frameworks, quality control/testing in finance/economics (e.g., MBA).
4. Extensive knowledge of Treasury and Asset Liability Management.
5. Excellent communication, collaboration, analytical, influence, and data-driven decision-making skills.
6. Proficiency in SAS and Python programming; QRM knowledge is an asset.

Salary: $74,800.00 - $138,600.00

Pay Type: Salaried

Salaries vary based on location, skills, experience, education, and qualifications, and may include incentives and bonuses. Benefits include health insurance, tuition reimbursement, insurance, and retirement plans. More details are available at BMO Total Rewards.

About Us:

At BMO, our purpose is to "Boldly Grow the Good" in business and life, creating positive change for customers, communities, and employees. We support your growth with training, coaching, and opportunities to broaden your skills. Visit us at BMO Careers.

BMO is committed to an inclusive, equitable, and accessible workplace. Accommodations are available upon request for all candidates during the hiring process.

Note to Recruiters: BMO does not accept unsolicited resumes without a formal agreement. Resumes sent unsolicited will be considered BMO property, and no fee will be paid for such placements.