Senior Manager - Model Governance

BMO•Chicago, IL

1d•$102,000 - $190,000•Hybrid

About The Position

The Senior Manager, Model Governance plays a critical leadership role in strengthening and executing the firm’s Enterprise Model Risk Management Framework. This role leads the design, implementation, and continuous improvement of governance processes, controls, training programs, and change‑management activities to drive effective model risk management practices across the enterprise.

Requirements

Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Knowledge of model risk regulatory guidance (e.g., SR 11‑7, OSFI E‑23) and understanding of model development/validation concepts.
Experience designing and enforcing governance controls, processes, or oversight programs.
Exceptional communication skills with the ability to convey governance requirements to both technical and non‑technical audiences.
Demonstrated ability to lead change and influence stakeholders across large, complex organizations.
Strong organizational and analytical skills, with attention to detail and ability to manage competing priorities.
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.
Influence skills - In-depth / expert.
Collaboration & team skills; with a focus on cross-group collaboration - In-depth / expert.
Data driven decision making - In-depth / expert.

Responsibilities

Governance Processes & Controls Lead the development, enhancement, and enforcement of enterprise model governance policies, standards, and procedures aligned with regulatory expectations.
Oversee and improve end‑to-end governance processes including model intake, approval, tiering, periodic reviews, ongoing monitoring, and decommissioning.
Ensure consistent application of governance controls across the model lifecycle, including documentation, change management, and issue remediation.
Establish quality assurance processes to ensure compliance with governance requirements across Model Development, Validation, and Business Owners.
Drive continuous improvement of model governance workflows, tooling, templates, and control effectiveness.
Training & Program Enablement Develop, deliver, and maintain enterprise-wide training programs to enhance model risk awareness and competency across all three lines of defence.
Create and socialize guidance materials, playbooks, and knowledge resources to support consistent execution of governance requirements.
Serve as a subject‑matter expert on model governance expectations for stakeholders across risk, data, technology, and business lines.
Change Management & Stakeholder Engagement Lead change‑management initiatives related to model governance process updates, system enhancements, regulatory changes, and policy revisions.
Partner with Model Development, Validation, Technology, and Business teams to ensure smooth adoption of governance changes.
Engage cross‑functional stakeholders to drive alignment on governance requirements and embed model risk principles into business practices.
Provide clear, concise communication on program updates, policy changes, and governance expectations to senior management and business partners.
Regulatory & Audit Support Support regulatory examinations and internal/external audits by supplying high‑quality evidence, documentation, and subject‑matter insights.
Ensure management action plans related to audit findings or regulatory observations are appropriately addressed, tracked, and closed.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
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.
Influences and negotiates to achieve business objectives.
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.
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.
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.
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.
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.