Application Deadline:

02/26/2026

Address:
100 King Street West

Job Family Group:

Data Analytics & Reporting

Senior Manager - Retail AIRB Model Development

Role Summary
The Senior Manager, Retail AIRB Model Development applies advanced quantitative, mathematical, and statistical techniques to address complex financial and risk-management challenges. The role leads the development, enhancement, and ongoing performance assessment of Retail AIRB credit risk models (PD, LGD, EAD), enabling effective capital planning, regulatory compliance, and sound risk-based decision-making. The Senior Manager drives innovation in modeling, ensures adherence to regulatory standards, and provides strategic insights that enhance portfolio risk management and business outcomes.

Qualifications

• 7+ years of experience in quantitative risk modeling, financial modeling, or related analytical fields.
• Advanced university degree in a quantitative discipline (e.g., Mathematics, Statistics, Economics, Finance, Engineering) or equivalent experience.
• Demonstrated expertise in Retail AIRB model development and model risk management frameworks.
• Strong understanding of Basel capital requirements, AIRB rules, and regulatory expectations.
• Proficiency in programming and analytics tools (e.g., SAS, Python) and data visualization platforms.
• Solid capabilities in data manipulation, preprocessing, and complex dataset analysis.
• Exceptional analytical thinking, problem-solving skills, and ability to manage ambiguity.
• Strong written and verbal communication skills, with the ability to influence stakeholders at all levels.
• Demonstrated ability to drive results, lead teams, and collaborate across functions in a matrixed environment.
• Experience making data-driven decisions and managing large-scale modeling initiatives.

Key Accountabilities

Model Development & Research

• Leads the development, redevelopment, and enhancement of Retail AIRB models (PD, LGD, EAD) across retail portfolios, ensuring strong discriminatory power, calibration accuracy, and regulatory alignment.
• Conducts advanced quantitative research, applying robust statistical, econometric, and machine-learning techniques to address model performance challenges and portfolio trends.
• Designs, builds, and validates complex mathematical models and analytical tools to support capital planning, pricing, and risk-return optimization.
• Ensures model design and development align with enterprise model governance expectations, including documentation standards, data quality, and effective challenge processes.

Risk Management & Regulatory Compliance

• Applies deep knowledge of AIRB rules, Basel regulatory capital frameworks, and internal risk-governance standards to guide model development choices and ensure regulatory compliance.
• Identifies potential model-related risks and recommends mitigation strategies based on data-driven insights and quantitative analysis.
• Collaborates with Model Risk Management (MRM), Model Owners (MO), and Model Users (MU) to address findings, incorporate feedback, and ensure readiness for validation and implementation.
• Supports ongoing model monitoring and contributes to annual model performance assessments.

Data, Process & Documentation Excellence

• Oversees documentation of model methodologies, assumptions, data flows, and system processes in alignment with model governance and audit expectations.
• Ensures robust data management practices, including data wrangling, preprocessing, quality assessment, and representativeness analysis.
• Evaluates and enhances end-to-end processes that support model development, monitoring, and implementation.

Leadership & Collaboration

• Builds and develops high-performing quantitative teams, fostering a culture of excellence, continuous learning, and innovation.
• Coaches, motivates, and supports team members' growth while managing performance and ensuring clear accountability.
• Leads cross-functional collaboration across Risk, Technology, Data & Infrastructure, Capital, and Audit stakeholders to enable successful model lifecycle execution.
• Champions BMO's values, including diversity, equity, inclusion, purpose-driven leadership, and customer-centric thinking.

Strategic Execution & Enterprise Impact

• Operates as a subject-matter expert to senior leaders, providing guidance on complex modeling topics and emerging risk trends.
• Brings creative thinking to ambiguous or non-routine modeling challenges, designing solutions that influence enterprise-level decision-making.
• Anticipates regulatory and industry developments, adjusting modeling approaches and strategies as required.
• Contributes to large-scale regulatory initiatives, including AIRB applications and model roadmap programs.

Salary :

$103,200.00 - $192,000.00

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.