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Director, Risk Modeling Transformation

Toronto, ON
Full Time
3 days ago
100 King Street West

Job Family Group:

Data Analytics & Reporting

If you're looking for your next dream job, consider this one in BMO's ERPM 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

The Director, Risk Modeling Transformation is mandated to lead transformative changes in the risk modeling area at BMO in order to drive innovation, efficiency, effectiveness, and high-quality model outcomes.

The incumbent is expected to have the ability to define and effectively communicate a bold vision, to critically evaluate strengths, weaknesses, and opportunities across the organization / system (e.g., people, process, data, technology), and to drive strategic clarity, establish and maintain alignment, and generate enthusiasm for our change agenda.

The incumbent will work with stakeholders within Risk Capital and Model Development and across the bank to identify, prioritize, qualify (business case), develop, and implement strategic opportunities, create measures of success and plans to achieve targeted outcomes, and integrated transformative changes through to completion. This includes ensuring compliance with regulatory expectations while taking a bold view around what is possible. This role requires the engagement of Operating Groups, Model Developers, Model Owners, Model Users, Model Risk, Technology & Operations, Enterprise Data & AI, Corporate Audit, and various other stakeholders across the bank to communicate vision through to desired outcomes to drive stakeholder alignment and commitment.

  • Lead strategic initiatives and transformative changes for BMO Risk Capital and Model Development.
  • Identify process and efficiency improvement opportunities in the end-to-end model lifecycle and work with stakeholders to develop action plans to execute on those opportunities.
  • Develop, evolve, implement, and monitor model lifecycle-related metrics facilitating data-driven analyses of model process effectiveness to ensure that BMO's model-related processes are of consistently high quality and efficiency.
  • Possess keen awareness of developments in the financial, software, and industrial operations industries, particularly those that may affect the bank's model development, implementation, and operations-related processes and activities.
  • Provide thought leadership involving the development and application of transformational, next-generation approaches to the management of model life cycle and related activities (e.g., transitioning to an open-source, cloud-based, highly automated environment, implementing centralized code management libraries, revisiting established processes through a risk-based enterprise value lens).
  • Establish and cultivate internal stakeholder relationships with senior management and executives including in the Lines of Business, Enterprise Risk, Credit Risk, Internal Audit, Finance, and Technology & Operations, and peers across BMO, through regular and ad-hoc interactions.
  • Effectively lead, coordinate, and manage execution of strategic Risk Modeling initiatives.
  • Define measures of success and project objectives in an objective and transparent way.
  • Communicate expectations around both technical and non-technical content to contributors.
  • Manage relationships with stakeholders, and act as centre of expertise relating to model-related processes and risk quantification.
  • Maintain effective communication with senior management, peers, and internal and external stakeholders.
  • Consult with senior line of business and other stakeholders to understand objectives, translate business context, requirements, and model design into effective written communication, and align priorities.

  • At least 10 years experience in the financial services or consulting industry in increasingly senior roles requiring broad business acumen.
  • Graduate university degree in a quantitative discipline such as Mathematics/Statistics, Computer Science, Engineering, Finance, Economics, Operations Research or Business.
  • Project management and problem-solving skills to effectively coordinate stakeholders, manage change and competing priorities, and deliver results on time.
  • Ability to operate effectively in senior level forums in both formal presentations and informal exchanges.
  • Excellent interpersonal, verbal, and written skills sufficient to articulate complex ideas clearly and in understandable terms to non-experts.
  • Developed influencing skills to negotiate and obtain consensus with and among business units and the risk management units without sacrificing quality and consistency.
  • Significant experience in initiating, developing and applying innovative, digital-first approaches to model life cycle activities and corresponding risk management analytics and operational processes.
  • Familiarity with cloud platforms (e.g., AWS SageMaker, Google Cloud, Azure) and Python and Python-related tools (e.g., PySpark, pandas, NumPy, Jupyter) is an asset.
  • Good knowledge of financial markets and products is required.
  • Broad understanding of risk management methodologies and measurement systems.
  • Knowledge of risk capital regulations is an asset.
  • Highly developed and proven leadership/management skills.
  • Sound strategic, holistic, and conceptual thinker.
  • Broad knowledge of the banking products, procedures, and processes.
  • Capacity to cope with a high degree of ambiguity and change.
  • Ability to work both independently and as part of cross-functional teams.
  • Strong logical/deductive reasoning skills with a keen eye for reading regulations and tying together information from a variety of sources.
  • Dedication to evidence-based argumentation and the ability to craft a convincing and well-supported narrative.
  • Capacity to blend quantitative/theoretical thinking to resolve most technical and conceptually ambiguous issues/situations with sound business judgement.
  • Highly developed oral and written communication skills.
  • Ability to manage to tight deadlines.
  • Strong attention to detail.

We're here to help

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 .

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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