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Senior Manager, Model Validation -12 Month Contract - R240030344 Toronto

BMO Bank of Montreal

Toronto, Ontario

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  Save this job      2025-05-07

Senior Manager, Model Validation -12 Month Contract - R240030344 Toronto

BMO Bank of Montreal

Toronto, Ontario

 

Salary: $92,400.00 - $171,600.00

 

Country: Canada

 

Application Deadline:

This role is hybrid and will require 2 or more days in our downtown Toronto office.

The ideal candidate should have:

Knowledge:

• 5+ years of experience in fraud or AML financial model validation, model development or a related position; or equivalent  experience in credit risk models
• Outstanding knowledge and relevant training in data mining, machine learning, and various statistical analysis techniques, with demonstrated experience pertaining to machine learning/statistical modeling
• Experience in supervising or coaching junior team member(s) 
• In-depth knowledge of industry best practices and  understanding of model risk regulatory requirements and the evolvement of in the regulations in AML, fraud and lending practices across jurisdictions.
• Good Knowledge of the bank’s different lines of business and various products offered

Skills:

• Analytical, detail-oriented, well-organized, highly self-motivated with good interpersonal skills
• Good ability of conflict-solving and to collaboratively work with first line model owner and developers
• Proficiency in statistical and database modeling tools, particularly Python, SAS, R, SQL, Access/VBA, etc.    
• Effective time management skills and multi-tasking skills to effectively deliver concurrent projects with completing timelines
• Ability to supervise and lead junior team members to complete complex projects

Main Responsibilities include but not limited to:

Model validation (60%)

• Support the Director of Behavioral Analytics Model Validation in the development and execution of overall validation work plan
• Independently validate new and existing fraud and other customer behavioral analytics models with a concentration on models used for BMO Canada, US  and international lines of business.
• Lead junior model risk specialist to ensure the assigned validation projects are completed within required timeline and in compliance with the model risk management framework requirement.
• Provide effective challenge and communicate identified model risk to the first line model owners and developers to ensure the risk are well understood and mitigation actions are taken; escalating where necessary to senior management    
• Provide consultancy to the senior management and first line model owner and developer regarding the technical model issues of the fraud models
• Report writing and model inventory maintenance
• Keep abreast of latest development in AML and fraud modeling

Managerial Leadership (25%)

• Host regulator update meeting on assigned projects to both MV senior management and the first line model owners and developers.
• Provide day-to-day supervision and training to the junior analyst, and review work completed by the reporting analyst before the draft report and recommendation are submitted to MV Director for approval
• Support the MV director to identify and implement improvement to work, process and systems to ensure operational effectiveness. 
• Support various ad-hoc reporting requests from senior management, internal audit and regulators
• Manage HR administration requests of the junior analyst

Governance (15%)

• Assist the MV Director to ensure all models covered by the team meet the requirement of the Enterprise Model Risk Management Framework, e.g., all AML and fraud models used by the bank are validated and approved and issues identified are mitigated properly.  
• Support the MV Director to ensure all validation review work is conducted in accordance to defined model validation process, and in compliance with all bank and regulatory requirements. 

Model Validation (MV) group in Enterprise Risk has the mandate to review and approve enterprise-wide model use so that the Bank is not subject to unjustified, undue, and unidentified risks due to error or misuse of models, and to promote the transparency and understanding of models and model risks across the Bank.

Under the guidance of Director Behavioral Analytics Model Validation, the Senior Manager is accountable for the model validation and benchmark model development (if applicable) of the financial crime prevention models, primarily fraud and AML models, as well as other customer behavioral analytics models, such as marketing strategy models and newly immerged AI/ML solutions. The individual will be responsible for preventing any regulatory finding and/or financial loss due to the misuse of the models, for the purpose of protecting and enhancing BMO’s reputation and financial safety.

Though dealing with a large volume of new financial crime prevention modeling initiatives, this is an excellent opportunity for an individual that wants to enhance knowledge of financial crime prevention models, and to further develop leadership and people management skills.

About Us

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.

About BMO Bank of Montreal

Careers for service members, veterans and their families

We’re proud to be the official bank of the Canadian Defence Community – and that goes beyond supporting your financial well-being. We value the skills you’ve earned in the military, and we’re here to help as you move into the next stage of your professional life.

BMO is a Poppy Campaign partner and invests over $265k per year in 3+ signature sponsorship properties, including the Canada Army Run, the Navy Bike Ride, and the RCAF Run.

• Next February, BMO will proudly support Veterans as an official Gold Sponsor of the Invictus Games – Vancouver Whistler 2025 which will welcome more than 500 competitors from 25 nations to experience the first ever Winter Games in Invictus Games history. The Games will also raise awareness of Indigenous CAF members and highlight the extraordinary service of Indigenous Veterans dating back over 200 years.
• We have committed over $2.25 million in major gifts in recent past, including pledges to Homes for Heroes and Canada Company.

At BMO, you’ll have the opportunity to use your commitment, discipline, and dedication to teamwork to make a difference. Come and grow your career with us.