Peersight
Employers
Jobs
Companies
Top Cities
Log In
Jobs
In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester Product Tester at Home In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester Dog Sitter - Flexible Hours In-Home Usage Tester Dog Sitters Wanted - Work From Home Dog Sitter - Flexible Hours Dog Sitter - Earn up to Dog Sitter - Earn up to Experienced Dog Walker Dog Sitters Wanted - Earn up to Dog Sitters Wanted - Earn up to Dog Sitter Care for Dogs - Earn up to Adjoint Charg In-Home Usage Tester Brand Advocate - Quebec City In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester Charg In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester In-Home Usage Tester Project Manager In-Home Usage Tester In-Home Usage Tester Newest Jobs
Companies
Yelp ContactMonkey CareGuide Sterling-Turner Two Sigma Aecom Clearbanc WeWork Aerotek Exact Media First Convenience Bank AsteroidX Jane Street Doordash AT&T Shopify Hatchways Vector Marketing Insight Global Creative Circle Amazon Flex LowCostWebDesignFirm.com Square Borrowell Clickworker Walgreens Recovhub American Income Life 51talk Instacart Paylocity Scotiabank TD Bank Microsoft Desjardins Top Hat Akira CI&T UnitedHealth Group Checkout 51 The Youth Connection Mobeewave mappedin GoParkr autoTRADER.ca Xiaomi Hootsuite ScribbleLive SnapTravel Unbounce All Companies
Top Cities
Chicago, Illinois Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs New York, New York Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs Toronto, Ontario Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs Vancouver, British Columbia Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs Calgary, Alberta Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs San Francisco, California Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs Montréal, Quebec Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs Los Angeles, California Sales Jobs Engineering Jobs Marketing Jobs Product Jobs Design Jobs Customer Support Jobs
Navigation
My Profile Log Out

Model Risk Specialist At BMO Financial Group

Location: Toronto, Ontario

Job Description

The role of this position is to assist to facilitate enterprise-wide management of model risk by improving the transparency and understanding of models required for validation, products to which the models are applied, and the application of the models, so that the Bank is not subject to unjustified, undue and unidentified risks due to the use of these models. In particular, this role is to provide model risk validation services according to MV validation process, Model Risk Corporate Standard, Model Risk Guidelines and principles. Herein validation includes validation of models and assumptions, benchmarking, providing analysis and recommendations and documentation of the items above.

A. Model Validation Projects (90%)

This role is mainly to follow BMO validation standards to conduct validation on pricing and risk models of Insurance, Re-insurance products. This role is also required to validate data quality. Model validation includes but is not limited to the following responsibilities:
  • Develop proposed validation strategy and plan for approval by Director or Project Manager to ensure appropriate type and level of validation of risk models is carried out.
  • Conduct assigned model risk validation activities, individually for less complex projects or under guidance of Project Manager or Director, MV, according to the MV validation process, standards, guidelines and principles. Validation activities include (but are not limit to) testing of models, justification of model assumptions, benchmarking, comparison of results to model developer results, quantification of model risks, validation of models, documentation of validation findings/conclusions, and communication with model developers/model owners/model users.
  • Produce the validation report according to standards and format including identification of model deficiencies/weaknesses, conditions for model use, recommendations for model use, and Level of Model Error Potential and Model Risk Impact.
  • Ensure effective two-way communication with the Model Owners/Developers/Users set expectations, obtain and provide information on models, and communicate model risk issues and suggestions during the validation process.
  • Ensure key information such as model review dates, conditions, and triggers is entered into the validation database for follow-up and the database is kept up to date to reflect changing circumstances.
  • Provide regular project status updates to Project Manager or Director, MV for tracking and monitoring validation projects.

B. Technical Input (5%)
  • Provide technical input to model developers and/or risk management groups in the development of models to proactively assist the Business resolve model risk issues.
  • Share knowledge of models and validation projects with other vetters to ensure transfer of knowledge across MV.
C. Client Relationship Management (5%)
  • Develop and maintain effective relationships with the LoB client, LoB Risk Management group, and T&O to understand and complete the validation request.
  • Escalate difficult or complex project-related client issues and conflicts to Director or Project Manager, MV to ensure resolution.

Qualifications

Knowledge:
  • University degree in a quantitative field such as Actuarial Science, Math, Statistics, Computational Finance or Engineering. The FSA, FCIA designations are considered an asset.
  • 1 or more years quantitative insurance risk management, model development or validation within the financial services industry
  • Expert knowledge of risk management in specific areas will be an asset.
  • General knowledge of banking/insurance industry.

Skills:
  • Must be able to learn new platforms and models quickly for the different models being validated, including the replication of complex model calculations from first principles.
  • Must be able to clearly communicate complex results to others through written model validation reports and interaction with model owners.
  • Strong programming skills (experience in SAS, SQL, Python/R, VBA programming preferred)

We’re here to help

At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.

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://bmocareers.com/ .

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.

Job

Risk Management

Primary Location

Canada-Ontario-Toronto

Organisation

ERPM-X000073

Schedule

full-time

Job Posting

10/12/18

Unposting Date

Ongoing