Vice President of Stress Testing & Emerging Events Scenario Design

BMO Harris • Chicago, IL

359d • $100,000 - $185,500

About The Position

Capital stress testing based on comprehensive stress test scenarios that stress the material risks and overall specific vulnerabilities of a firm's risk profile and operations is a critical foundational element of BMO's Risk Management Framework to ensure sufficient capital adequacy is maintained during periods of stress. Additionally, due to the increasing complexity of the emerging events/risks facing firms, development and use of 'what-if' emerging risk scenarios to inform the assessments and understanding of emerging risks is a valuable evolving practice that BMO is successfully utilizing. These processes are in the early stages of an optimized target state transformation to maximize their efficiency, consistency and overall value. As the Vice President of Stress Testing & Emerging Events Scenario Design, you will have the privilege of leading the enterprise-wide stress test (EWST), US stress test (CCAR) and emerging events scenario design processes. You will be a key member of a highly dedicated team leading the valuable target state transformation and managing the resulting optimized business-as-usual ('BAU') scenario design target state by delivering structured, disciplined, diligent and thoughtful leadership and support.

Requirements

• 7+ years of relevant economic research, stress scenario design, stress testing, risk management and/or financial modeling experience.
• Degree(s) in related economic and/or quantitative fields of study or an equivalent combination of education and experience.
• In-depth / Expert knowledge of economics, stress testing, scenario design and/or risk management practices.
• In-depth / Expert knowledge of business and regulatory environment and understanding of risk issues / trends and best practices.
• Knowledge of banking products, including credit and non-credit experience, economics and financial markets.
• In-depth / Expert communication and relationship management skills.
• Ability to manage multiple priorities with effective planning and organizing skills.
• 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.

Responsibilities

• Develop and implement a target state stress testing and emerging events scenario design process.
• Fully integrate EWST, CCAR and emerging events scenario design processes to drive efficiency, consistency and effectiveness.
• Build a single golden source library of stress and emerging events scenarios.
• Support the incorporation of Artificial Intelligence/Machine Learning into the development of scenario narratives, variable forecasts and early-warning indicator dashboards.
• Lead the end-to-end EWST and CCAR capital stress testing design processes.
• Conduct research on a range of possible stress scenarios.
• Prepare scenario narratives.
• Forecast economic and financial variable time series under hypothetical stress scenarios.
• Run sensitivity analysis on key variables and other scenario inputs.
• Systematically map stress scenarios to material risks.
• Select certain emerging risks to include in scenarios.
• Execute governance including review, challenge and approval of scenarios.
• Deliver and maintain a suite of BAU stress scenarios that will continually evolve.
• Lead the monthly emerging events scenario design process.
• Review existing emerging events and related scenarios to determine need to update/refresh.
• Review new proposed emerging events and determine whether a new scenario needs to be developed.
• Deliver and maintain a suite of BAU emerging events scenarios that will continually evolve.
• Lead the development of highly insightful early warning indicator (EWI) dashboards.
• Develop and maintain strong relationships with 1st and 2nd LoD partners.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans

What This Job Offers

• Job Type: Full-time
• Career Level: Senior
• Industry: Credit Intermediation and Related Activities
• Education Level: Bachelor's degree