Senior Manager, Credit Risk Model Validation

BMO; Chicago (IL); On-site; USD 75,000 - 160,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Retirement savings plan

Life insurance

Job summary

BMO is seeking a seasoned professional to validate financial models and manage model risk across a designated portfolio. The role involves challenging model developers, communicating risk decisions, and representing the validation program during audits.

Responsibilities include developing validation strategies, collaborating with stakeholders across functions, and ensuring compliance with regulatory requirements and governance standards.

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.

Responsibilities

• 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.
• Represents the model validation program / portfolio for internal/external regulatory audits and/or examinations.
• Leads the research and development for validation of new types of models.
• Develops validation strategies and plans to ensure appropriate type and level of vetting of models is carried out.

Skills

Model validation

Model risk management

Regulatory knowledge

Stakeholder management

Analytical thinking

Communication skills

Education

Post-secondary degree in related field

Job description

BMO is seeking a seasoned professional to validate financial models and manage model risk across a designated portfolio. The role involves challenging model developers, communicating risk decisions, and representing the validation program during audits.

Responsibilities include developing validation strategies, collaborating with stakeholders across functions, and ensuring compliance with regulatory requirements and governance standards.