Senior Manager - Credit Risk Model Validation

BMO•Chicago, IL

About The Position

Provides oversight, monitoring and reporting on model risk for a designated portfolio. Develops and monitors the model risk management and governance framework and practices leveraged across BMO. Develops and implements policies and standards, methodologies, and controls that increase transparency, accuracy, and consistency across groups. Works with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance and effective monitoring, timely reporting, and identify action plans. Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do. Ensures alignment between values and behaviour that fosters diversity and inclusion. Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through. Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders. Attracts, retains, and enables the career development of top talent. Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance. Provides strategic input into business decisions as a trusted advisor. Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group. Acts as a subject matter expert on relevant regulations and policies. May network with industry contacts to gain competitive insights and best practices. Interprets new regulations and assesses impacts to the governance framework. Develops reports on the status of the governance program or framework components to various internal & external stakeholder audiences. Influences and negotiates to achieve business objectives. Identifies emerging issues and trends to inform decision-making. Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution. Conducts independent analysis and assessment to resolve strategic issues. Leads the development and maintenance of the governance system and framework. Acts as the prime subject matter expert for internal/external stakeholders. Represents the risk program / governance structure during internal/external regulatory audits and/or examinations. Ensures alignment between stakeholders. Designs and produces regular and ad-hoc reports, and dashboards. Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting. Defines business requirements for analytics & reporting to ensure data insights inform business decision making. Leads the development of the communication strategy focusing on positively influencing or changing behaviour. Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives. Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution. Manages the review and sign-off process for relevant regulatory reporting. Leads and integrates the monitoring, measurement and reporting on the status of the model risk governance program to internal and external stakeholders. Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines. May provide specialized support for other internal and external regulatory requirements. Provides input into the planning and implementation of ongoing operational programs in support of the model validation / risk framework. Leads/participates in the design, implementation and management of core business/group processes. Independently administers and evaluates model life cycle activities for adherence to all policies, procedures and established processes; documents and reports results of evaluations on an individual and summary basis. Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken. Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge. Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education and training needs, development/delivery of training; development and execution of regulatory administration processes and procedures. Consults with stakeholders to improve consistency and transparency of risk measurement, metrics, and reporting. Supports the development and maintenance of the governance system and framework (e.g. supporting policies, standards, operating procedures, lifecycle management, education and training assessment, development and delivery, coordination of attestation programs, reporting, etc.). 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. Analyzes data and information to provide insights and recommendations. Monitors and tracks performance; addresses any issues. Coordinates and monitors the review and sign-off of regulatory reporting and attestations. Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders. Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine. Implements changes in response to shifting trends. Broader work or accountabilities may be assigned as needed.

Requirements

Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
In-depth / expert knowledge and understanding of the model life cycle, model risk management practices.
In-depth / expert knowledge of regulatory requirements.
In-depth / expert knowledge & experience with risk policy frameworks; quality control / testing frameworks.
Seasoned professional with a combination of education, experience and industry knowledge.
Verbal & written communication skills - In-depth / Expert.
Analytical and problem solving skills - In-depth / Expert.
Influence skills - In-depth / Expert.
Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
Able to manage ambiguity.
Data driven decision making - In-depth / Expert.

Responsibilities

Provides oversight, monitoring and reporting on model risk for a designated portfolio.
Develops and monitors the model risk management and governance framework and practices leveraged across BMO.
Develops and implements policies and standards, methodologies, and controls that increase transparency, accuracy, and consistency across groups.
Works with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance and effective monitoring, timely reporting, and identify action plans.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
Ensures alignment between values and behaviour that fosters diversity and inclusion.
Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
Attracts, retains, and enables the career development of top talent.
Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
Provides strategic input into business decisions as a trusted advisor.
Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
Acts as a subject matter expert on relevant regulations and policies.
May network with industry contacts to gain competitive insights and best practices.
Interprets new regulations and assesses impacts to the governance framework.
Develops reports on the status of the governance program or framework components to various internal & external stakeholder audiences.
Influences and negotiates to achieve business objectives.
Identifies emerging issues and trends to inform decision-making.
Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
Conducts independent analysis and assessment to resolve strategic issues.
Leads the development and maintenance of the governance system and framework.
Acts as the prime subject matter expert for internal/external stakeholders.
Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
Ensures alignment between stakeholders.
Designs and produces regular and ad-hoc reports, and dashboards.
Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
Manages the review and sign-off process for relevant regulatory reporting.
Leads and integrates the monitoring, measurement and reporting on the status of the model risk governance program to internal and external stakeholders.
Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
May provide specialized support for other internal and external regulatory requirements.
Provides input into the planning and implementation of ongoing operational programs in support of the model validation / risk framework.
Leads/participates in the design, implementation and management of core business/group processes.
Independently administers and evaluates model life cycle activities for adherence to all policies, procedures and established processes; documents and reports results of evaluations on an individual and summary basis.
Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken.
Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.
Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education and training needs, development/delivery of training; development and execution of regulatory administration processes and procedures.
Consults with stakeholders to improve consistency and transparency of risk measurement, metrics, and reporting.
Supports the development and maintenance of the governance system and framework (e.g. supporting policies, standards, operating procedures, lifecycle management, education and training assessment, development and delivery, coordination of attestation programs, reporting, etc.).
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.
Analyzes data and information to provide insights and recommendations.
Monitors and tracks performance; addresses any issues.
Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
Implements changes in response to shifting trends.
Broader work or accountabilities may be assigned as needed.