Senior Specialist Model Validation

Bank of Montreal; Toronto; Hybrid; CAD 74,000 - 139,000; Full time

Job summary

A leading financial institution is seeking a Senior Specialist in Model Validation to join their Market Risk Validation team. This pivotal role involves leading the validation of models, ensuring compliance with regulatory standards, and engaging with stakeholders to communicate model performance. The ideal candidate will have a strong quantitative finance background, excellent communication skills, and a passion for market risk.

Benefits

Health Insurance

Tuition Reimbursement

Accident and Life Insurance

Retirement Savings Plans

Qualifications

• 5-7 years of experience in quantitative finance.
• Strong foundation in market risk and model validation.

Responsibilities

• Lead the validation of CCR and Market Risk models.
• Deliver high-quality model validation reports.
• Engage cross-functional stakeholders.

Skills

Quantitative Finance

Market Risk

Model Validation

Analytical Skills

Communication

Education

Master’s degree in Financial Engineering

Job description

Senior Specialist Model Validation page is loaded

Senior Specialist Model Validation

Apply locations Toronto, ON, CAN time type Full time posted on Posted Yesterday job requisition id R250011803

Application Deadline:

06/05/2025

Address:

100 King Street West

Job Family Group:

Audit, Risk & Compliance

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 high-impact initiative

What You’ll Do:

• Lead the validation of CCR and Market Risk models, ensuring they meet regulatory and internal standards

• Maintain model risk controls by supporting business-as-usual activities, ensuring the bank remains compliant and resilient

• Deliver high-quality model validation reports, aligned with internal templates and Model Risk Management guidelines

• Engage cross-functional stakeholders, offering clarity and insight into model performance, methodology, and outcomes

Who You Are:

• You bring 5-7 years of experience in quantitative finance, with a strong foundation in market risk Prior CCR model exposure is highly preferred

• You hold a Master’s degree in a quantitative discipline (e.g., Financial Engineering, Mathematics, Statistics, or related fields)

• You’re a clear communicator, both in writing and verbally, able to translate complex technical concepts into accessible language for non-technical stakeholders

• You’re a self-starter with the independence to manage projects, but you also thrive in team environments and collaborative settings

• You are meticulous, analytical, and quality-driven, with a strong sense of ownership over your work

• A strong quant background is essential

Work Environment:

This is a hybrid role with in-office collaboration on Wednesdays and Thursdays

If you’re looking for your next dream job, consider this one in BMO’s Enterprise Risk Group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide 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 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.

• 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 decision-making.

• 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 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 between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• In-depth knowledge and understanding of model validation, model risk management practices.

• In-depth knowledge of regulatory requirements.

• In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.in 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 :

$74,800.00 - $138,600.00

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 package will vary based on the pay type of the position and may include performance-based 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: https://jobs.bmo.com/global/en/Total-Rewards

About 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. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/ca/en .

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

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.

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