Senior Manager, Model Risk Governance and Oversight

Bank of Montreal; Toronto; On-site; CAD 92,000 - 172,000; Full time

Job summary

A leading financial institution offers a 12-month contract role focused on model risk oversight. This position demands strategic input for business decisions and requires strong analytical skills along with deep expertise in risk management practices. The candidate will collaborate across teams to ensure compliance and drive effective risk governance.

Benefits

Health insurance

Tuition reimbursement

Retirement plans

Qualifications

• Typically 7+ years of relevant experience.
• Expertise in model lifecycle and risk management practices.
• Deep understanding of regulatory requirements.

Responsibilities

• Provides oversight, monitoring, and reporting on model risk.
• Collaborates with stakeholders to ensure compliance and effective monitoring.
• Develops and monitors the model risk management framework.

Skills

Analytical

Problem Solving

Communication

Collaboration

Data-driven Decision Making

Education

Post-secondary degree or equivalent

Job description

Application Deadline:

Address:

100 King Street West

Job Family Group:

Audit, Risk & Compliance

12-Month Contract

Provides oversight, monitoring, and reporting on model risk for a designated portfolio. Develops and monitors the model risk management and governance framework and practices across BMO. Implements policies, standards, methodologies, and controls to ensure transparency, accuracy, and consistency. Collaborates with stakeholders to ensure compliance, effective monitoring, timely reporting, and action plan development.

• Provides strategic input into business decisions as a trusted advisor.
• Makes recommendations to senior leaders on strategy and initiatives based on deep business understanding.
• Acts as a subject matter expert on relevant regulations and policies.
• Networks with industry contacts for insights and best practices.
• Interprets new regulations and assesses impacts.
• Develops reports on governance program status for internal and external stakeholders.
• Influences and negotiates to meet business objectives.
• Identifies emerging issues and trends for decision-making.
• Recommends priorities, advises on resources, and develops strategic roadmaps.
• Conducts independent analysis to resolve strategic issues.
• Leads development and maintenance of governance systems and frameworks.
• Serves as a primary subject matter expert for stakeholders.
• Represents the risk program during audits and examinations.
• Ensures stakeholder alignment.
• Designs and produces reports and dashboards.
• Manages information systems and leads process improvement initiatives.
• Defines business requirements for analytics and reporting.
• Leads communication strategies to influence behavior.
• Manages change management programs, including assessments and stakeholder engagement.
• Executes operational programs, ensuring quality.
• Oversees regulatory reporting review and sign-off processes.
• Monitors and reports on model risk governance status.
• Manages governance meetings and oversight guidelines.
• Provides support for regulatory requirements.
• Supports operational program planning and implementation.
• Participates in core process design and management.
• Evaluates model lifecycle activities for compliance, reports results, and escalates issues.
• Provides guidance on risk framework implementation and effective challenge.
• Coordinates oversight activities, including training and reporting.
• Maintains knowledge of business and regulatory requirements.
• Builds relationships with stakeholders and ensures alignment.
• Analyzes data for insights and recommendations.
• Tracks performance and addresses issues.
• Coordinates regulatory reporting and attestations.
• Operates enterprise-wide as a resource for senior leaders.
• Addresses complex and ambiguous situations with creative solutions.
• Implements responses to industry trends.
• Additional responsibilities may be assigned as needed.

  Qualifications:

  • Typically 7+ years of relevant experience and a post-secondary degree or equivalent.
  • Expertise in model lifecycle and risk management practices.
  • Deep understanding of regulatory requirements.
  • Knowledge of risk policy frameworks and quality control/testing frameworks.
  • Professional with relevant education, experience, and industry knowledge.
  • Excellent verbal and written communication skills.
  • Strong analytical and problem-solving skills.
  • Influence and collaboration skills, with cross-group experience.
  • Ability to manage ambiguity.
  • Data-driven decision-making skills.

  Salary: $92,400.00 - $171,600.00

  Pay Type: Salaried

  Salaries vary based on location, skills, experience, education, and qualifications, and may include incentives and bonuses. Part-time salaries are pro-rated. The total compensation package may include additional benefits such as health insurance, tuition reimbursement, and retirement plans. More details can be found at https://jobs.bmo.com/global/en/Total-Rewards

  About Us:

  At BMO, our purpose is to create lasting, positive change for our customers, communities, and people. We foster a collaborative and innovative environment that supports growth and impact. Learn more at https://jobs.bmo.com/ca/en.

  BMO is committed to an inclusive, equitable, and accessible workplace. Accommodations are available upon request during the recruitment process. To request accommodations, contact your recruiter.

  Note to Recruiters: BMO does not accept unsolicited resumes except directly from candidates. Resumes sent unsolicited will be considered property of BMO, and no fee will be paid for such placements. Agencies must have a valid contract to submit resumes.