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Supports the research and development of stress testing and scenario analysis methodologies and related strategies in support of the management of risks arising from changes in the market and external environment for business/group portfolios and products. Applies knowledge of analytics algorithms and technologies to develop models, methodologies and supplementary stress testing tools and infrastructures that assess the impact of a stress on risk capital and ensure risks are properly identified, understood and risk related strategies are enabled. Summarizes statistical findings, draws business conclusions, and presents actionable business recommendations used in the management of risks and related activities e.g. defining tolerance for adverse outcomes, capital modelling, assess capital and liquidity, recovery actions, portfolio and risk management strategies and tactics.
- Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
- Provides advice and guidance to assigned business/group on implementation of solutions.
- Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
- Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
- Helps determine business priorities and best sequence for execution of business/group strategy.
- Conducts independent analysis and assessment to resolve strategic issues.
- Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
- Manages databases and provides support for analysis, forecasting and/or data visualization, ensuring adherence with data governance standards.
- Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
- Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.
- Leads or assists with the maintenance, monitoring, measurement & reporting on the status of the stress testing and scenario analysis program to various internal & external stakeholder audiences.
- Works with stakeholders to identify the business requirements, understand the distinct problems, and the expected outcomes; models and frames business scenarios which impact critical business processes and/or decisions.
- Administers and evaluates changes to stress scenarios and / or model parameters in response to changes in the market and the external environment.
- Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
- Works with various data owners to discover and select available data sources from internal sources and external vendors (e.g. lending system, payment system, external credit rating system) to fulfill analytical needs.
- Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.
- Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
- Supports the management of governance meetings (e.g. committee, management, board meetings, etc.) as required; facilitates development and approval of agendas, gathering and distribution of documentation related to agendas, and creation of meeting minutes/output.
- Builds effective relationships with internal/external stakeholders.
- Ensures alignment between stakeholders.
- Analyzes data and information to provide insights and recommendations
- Monitors and tracks performance; addresses any issues.
- Leads/participates in the design, implementation and management of core business/group processes.
- Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
- Exercises judgment to identify, diagnose, and solve problems within given rules.
- Works independently on a range of complex tasks, which may include unique situations.
- Broader work or accountabilities may be assigned as needed.
Qualifications:
- Typically between 2-4 years of relevant experience and post-secondary degree in related field of study (or a STEM field) or an equivalent combination of education and experience.
- Knowledge and understanding of stress testing and scenario analysis methodologies and frameworks is a bonus.
- Proficiency in statistical/numerical software.
- Strong programming skills and experience in multiple programming languages
- Python and/or pyspark knowledge is a bonus.
- Experience in quantitative risk modeling, calculation of Regulatory and Economic Capital is a bonus.
- Technical proficiency gained through education and/or business experience.
- Verbal & written communication skills - In-depth.
- Collaboration & team skills - In-depth.
- Analytical and problem solving skills - In-depth.
- Influence skills - In-depth.
- Data driven decision making - In-depth.
Compensation and Benefits:
Pay Type:
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
We’re here to help
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.
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://jobs.bmo.com/ca/en.
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.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
