Application Deadline:

Address:33 Dundas Street West

Data Analytics & Reporting

The Director, Retail Loss Forecasting Models is mandated to lead transformative changes in the North American Retail Risk area, here at BMO, in order to drive innovation, effectiveness, efficiency and high-quality models’ outcomes. The incumbent is expected to have the ability to define and effectively communicate a bold modeling vision, to critically evaluate strengths, weaknesses, and opportunities across the organization / systems (e.g., people, process, data, technology), drive strategic clarity, establish and maintain alignment, and generate enthusiasm for our change agenda.

This opportunity reflects a brand-new position within our North American Non-Regulatory Risk Models area where you will drive the end-to-end lifecycle of our retail loss forecasting models, methodologies and analytics. The incumbent will work with stakeholders within the North-American Retail Risk, and across the bank to identify, prioritize, qualify (business case), develop, and implement models and strategic opportunities, create measures of success and plans to achieve targeted outcomes, and integrated transformative changes through to completion. This role requires the engagement of Operating Groups, Model Owners, Model Users, Model Risk, Technology & Operations, Enterprise Data & AI, Corporate Audit, and various other stakeholders across the bank to communicate vision through to desired outcomes and drive stakeholder alignment and commitment.

The Director will lead a team who will apply mathematical and statistical methods to financial and risk management problems, and specifically to retail loss forecasting and provisioning. The incumbent will also conduct research and create tools that use data to develop scenario-based planning and implement complex mathematical models to help the business make better financial decisions (e.g. investments, pricing, etc.), drive innovation and minimize the impact of uncertainty.

Key Accountabilities

• Lead strategic initiatives and transformative changes for the North American Non-Regulatory Risk Models area.
• Identify process and efficiency improvement opportunities in the end-to-end model lifecycle and work with stakeholders to develop action plans to execute on those opportunities.
• Develop, evolve, implement, and monitor model lifecycle-related metrics facilitating data-driven analyses of model process effectiveness to ensure that BMO's model-related processes are of consistently high quality and efficiency.
• Possess keen awareness of developments in the financial, software, and industrial operations industries, particularly those that may affect the bank’s model development, implementation, and operations-related processes and activities.
• Provide thought leadership involving the development and application of transformational, next-generation approaches to the management of model life cycle and related activities (e.g., transitioning to an open-source, cloud-based, highly automated environment, implementing centralized code management libraries, revisiting established processes through a risk-based enterprise value lens).
• Establish and cultivate internal stakeholder relationships with senior management and executives.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.

Project Management and Development

• Effectively lead, coordinate, and manage execution of strategic Modeling initiatives.
• Define measures of success and project goals in an objective and transparent way.
• Communicate expectations around both technical and non-technical content to contributors.

Relationship and People Management

• Manage relationships with stakeholders and act as center of expertise relating to model-related processes and risk quantification.
• Maintain effective communication with senior management, peers, and internal and external stakeholders.
• Communicates abstract concepts in simple terms
• Consult with senior line of business and other stakeholders to understand objectives, translate business context, requirements, and model design into effective written communication, and align priorities.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.

Qualifications:

• At least 10 years’ experience in a financial services, consulting, and / or fintech environment in increasingly senior roles requiring broad business acumen.
• Graduate university degree in a quantitative discipline such as Mathematics/Statistics, Computer Science, Engineering, Finance, Economics, Operations Research or Business.
• Project management and problem-solving skills to effectively coordinate stakeholders, manage change and competing priorities, and deliver results on time.
• Ability to operate effectively in senior level forums in both formal presentations and informal exchanges.
• Excellent interpersonal, verbal, and written skills sufficient to articulate complex ideas clearly and in understandable terms to non-experts.
• Developed influencing skills to negotiate and obtain consensus with and among business units and the risk management units without sacrificing quality and consistency.
• Significant experience in initiating, developing and applying innovative, digital-first approaches to model life cycle activities and corresponding risk management analytics and operational processes.
• Familiarity with cloud platforms (e.g., AWS SageMaker, Google Cloud, Azure) and Python and Python-related tools (e.g., PySpark, pandas, NumPy, Jupyter) is an asset. 
• Good knowledge of financial markets and products is required.
• Broad understanding of risk management methodologies and measurement systems.
• Knowledge of loss forecasting and time series models is an asset.
• Highly developed and proven leadership/management skills.
• Sound strategic, holistic, and conceptual thinker.
• Broad knowledge of the banking products, procedures, and processes.
• Capacity to cope with a high degree of ambiguity and change.
• Ability to work both independently and as part of cross-functional teams.
• Dedication to evidence-based argumentation and the ability to craft a convincing and well-supported narrative.
• Capacity to blend quantitative/theoretical thinking to resolve most technical and conceptually ambiguous issues/situations with sound business judgement.
• Highly developed oral and written communication skills.
• Ability to manage to tight deadlines.
• Strong attention to detail.

$132,600.00 - $231,000.00

Salaried

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

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.