Reporting to the Director, Wholesale AIRB Credit Models, the Senior Manager, is responsible for the development, documentation, implementation, performance monitoring and internal/external reporting of Wholesale credit risk models and methodologies used for internal credit adjudication and the determination of Regulatory Capital and Economic Capital.
The Senior Manager will participate, from time to time, in wholesale risk based capital related initiatives including providing internal presentations or communications on model changes and capital impact to senior business heads and credit officers and acting as leading liaison in ongoing interaction with Canada and US regulators in respect of models/methodologies and Basel/regulatory compliance requirements.
Development, documentation, implementation, validation and ongoing monitoring of wholesale models and methodologies
Design and documentation of models and methodologies are high quality and consistent standards are maintained.
Review of and responses to Model Risk and Vetting Reports are accurately presenting Model risk and sufficiently comprehensive.
In accordance with Corporate Standards and Operating Procedures, performance of models and methodologies are appropriately measured and monitored on a regular basis, and appropriate actions are taken to maintain or improve performance of the models and methodologies.
Models and related processes are in compliance with external regulatory and internal standards.
Compliance with Basel/Regulatory Risk Based Capital Requirements
Ensure model development, validation, monitoring/reporting processes are compliant with regulatory requirements. Requirements include OSFI/OCC/Fed recommendation or conditions, model modifications and capita disclosure etc.
Keep abreast of and ensure compliance with new and evolving Basel/Regulatory requirements.
Participate in industry and peer benchmarking forums on regulatory developments affecting models.
Effective User Engagement
Facilitate user engagement by proactive interaction with LOB/LPG and Transactional Credit to ensure their understanding of model/methodology weaknesses and related limitations.
Ensure key users are informed of model changes and impact on their portfolio; participate in presentations and meetings with key users on ongoing performance and override monitoring results.
Provide ongoing guidance to business and credit on model usage and determining appropriate capital for transactions and portfolios.
Work collaboratively with business to solicit input and facilitate improvement, understanding and acceptance of credit risk models and methodologies used for economic and regulatory capital.
Build collaborative relationship with internal governance functions that have oversight responsibilities over models and methodologies including Model Risk and Vetting group, Independent Review, Internal and External Auditors and Basel Compliance.
Expert knowledge of models and methodologies used in Wholesale Credit portfolios, from both an industry and BMO perspective.
Expert knowledge of Basel II/III regulatory capital requirements.
Post graduate degree in Mathematical/Statistical, Engineering or similar quantitative discipline; PHD/Masters preferred including professional designations such as CFA or equivalent.
Experience in the finance industry with credit quantitative background; min 5 years of relevant experience required.
Working knowledge of credit risk management including bank credit policies, standards and processes, and credit related products.
Previous senior management experience in a regulatory and/or economic capital quantification capacity.
Strong ability to lead and manage multiple group deliverables while ensuring high quality standards are maintained.
Sound decision making considering all relevant information.
Strong oral and written communication skills
Excellent interpersonal and effective communication skills from dealing with senior executives to junior level staff .
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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.
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