Application Deadline: 11/01/2026
Address: 100 King Street West
Job Family Group: Audit, Risk & Compliance

Seeking a skilled and experienced professional to join our Model Risk Management Team as a Manager, Model Risk, Credit Risk. As a manager in our second line of defense risk management, governance, and control function, you will play a pivotal role in the validation of credit risk models, such as Allowance (IFRS 9 /CECL/loss forecasting) models, Stress Testing (CCAR/EWST), Climate Risk models and other initiatives. Other activities related to the model lifecycle such as model performance monitoring, annual reviews, assessment of overlay quantification are also part of the validation responsibilities. Experience in other credit risk families, such as credit adjudication and account management models, is also relevant. This is an individual contributor role. Note- We welcome applications from Senior Analyst candidates with fewer years of experience, provided they have a strong technical background and experience that is closely aligned with the role

Key Role Responsibilities

- Model Risk Review and Effective Challenge: You perform the validation of models, other estimation approaches and critical tool calculators and assess the model risk to confirm model appropriateness and capability for a designated portfolio.
- Stakeholder Engagement: Effective communication is crucial in this role. You will manage relationships with model developers, owners, and users, influencing and advising on model risk-related matters. Your ability to explain complex technical concepts in everyday language will set you apart.
- Change Management:



BMO is at the forefront of innovation in model risk management. You will be part of the team that drives change by embracing recent technology platforms, tools, and operating models.
- Regulatory Expertise: 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 program / portfolio validation framework.
- Risk Understanding: You will need to connect the dots between technical issues and business considerations. Serve as a trusted advisor to business partners, influencing stakeholders and supporting strategic planning and decision-making. Lead the development, execution, and enhancement of the model validation framework, methodologies, and validation strategies.
- Independently validate models, assumptions, data, methodologies, benchmarks, and supporting documentation to assess model effectiveness and compliance.
- Identify, quantify, document, and elevate model risks, deficiencies, and required corrective actions while monitoring remediation efforts.
- Research emerging trends, regulatory requirements, and industry best practices to strengthen model risk management and governance.
- Provide expert consulting and technical guidance on model validation,



risk management, and framework implementation.
- Lead validation-related initiatives, change management activities, process improvements, and operational programs across the portfolio.
- Represent the model validation function during internal audits, regulatory examinations, and stakeholder reviews.
- Develop, monitor, and report on model validation portfolio performance, model inventory, attestations, and governance outcomes.
- Build and maintain strong stakeholder relationships, ensuring alignment, effective communication, and successful delivery of strategic objectives.

Qualifications

- A MSc or PhD in quantitative fields such as statistics, applied mathematics, financial mathematics, data science, actuarial sciences, electrical engineering, or related fields.
- A minimum of 4 years of experience in model validation and/or development within a financial institution, particularly in the credit risk area.

Certifications

- While qualifications like CFA are helpful, they are not mandatory.
- Experience in credit risk models, including Stress Testing & loss forecasting, AIRB and Adjudication/Account Management.
- Proficiency in a programming language such as Python, R, and SAS (Python is preferred).
- Proficiency in working with relational databases – SQL or Oracle.
- Working with Big data tools and Cloud platforms (AWS/Azure) is a plus.
- A can-do attitude and a research, deep-dive mindset.

Salary

Salary: $70,000.00 - $150,000.00

Pay Type

Pay Type: Salaried

The above represents BMO Financial Group’s pay range and type. Salaries

📌 Manager, Credit Risk Model Validation (Toronto)
🏢 BMO
📍 Toronto