Senior Specialist Model Validation

BMO; Toronto; Hybrid; CAD 74,000 - 139,000; Full time

Job summary

Join a leading financial institution as a Senior Specialist in Model Validation, where you will play a crucial role in validating models, ensuring compliance, and providing insights into model performance. This hybrid role offers collaboration opportunities and the chance to contribute to high-impact projects in market risk management.

Qualifications

• 5-7 years of experience in quantitative finance with market risk.
• Strong quant background and clear communication skills.

Responsibilities

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

Skills

Quantitative Finance

Market Risk

Model Validation

Communication

Analytical Skills

Education

Master’s Degree in Quantitative Discipline

Job description

Join to apply for the Senior Specialist Model Validation role at BMO

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

Responsibilities:

• Perform validation of models and assess model risk to confirm model appropriateness and capability for a designated portfolio.
• Provide effective challenge during model development and communicate decisions regarding model use to the business to ensure transparency and understanding of models and model risks.
• Assess model’s capabilities, stress points, and limitations; evaluate associated risks and controls.
• Act as a trusted advisor, influence and negotiate to achieve business objectives, and develop strategic plans.
• Identify emerging issues, research requirements, and develop recommendations for improvements.
• Lead research and development for new model types and oversee validation strategies and plans.
• Validate/test models against standards, identify deficiencies, and recommend changes.
• Build effective relationships with stakeholders, ensure stakeholder alignment, and monitor performance.
• Coordinate review and sign-off of validation reports, maintain model inventory, and support audit readiness.
• Provide technical advice, develop in-depth knowledge of risk management, and lead change management activities.

Qualifications:

• Typically 5-7 years of relevant experience and a post-secondary degree or equivalent.
• Deep knowledge of model validation, risk management practices, and regulatory requirements.
• Proficiency in risk policy frameworks, quality control, and testing frameworks (preferably in finance/economics, e.g., MBA).
• Excellent communication, collaboration, analytical, and influence skills.
• Data-driven decision-making ability.

Compensation:

$74,800.00 - $138,600.00, salaried, with potential performance incentives and benefits. Salary varies based on location, skills, experience, and qualifications.

About Us:

At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. We aim to create lasting positive change for our customers, communities, and employees, fostering a culture of innovation, growth, and impact.