Senior Manager - Credit Risk Model Validation

Application Deadline: 04/09/2026 Address: 151 W 42nd Street Job Family Group: Audit, Risk & Compliance Seeking a skilled and experienced professional to join our Model Risk Management Team as a Senior Manager, Model Risk, Credit Risk. As a Senior Manager in our second‑line governance and control, you will play a pivotal role in overseeing the validation of credit risk models, with particular emphasis on wholesale and retail Stress Testing (CCAR/EWST) models as well as Allowance (IFRS 9 /CECL) models. 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 wholesale borrower risk rating models, credit adjudication and account management models, and retail AIRB is also relevant. This dynamic position is a leadership role, requiring the supervision of 5+ people. Occasionally, you may also need to act as an individual contributor. Key Role Responsibilities Model Risk Review and Effective Challenge: You perform the validation of models and assess the model risk to confirm model appropriateness and capability for a designated portfolio. You are responsible for providing effective challenge to the credit risk models during model development and communicating decisions regarding model use to the business to ensure transparency and understanding of models and model risks. You assess the models’ capabilities, stress points and limitations; you assess the associated model risk and the controls in place to mitigate identified risks. 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. Project Management: Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution. Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals. 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 new technology platforms, tools, and operating models. Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives. 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. What we are looking for 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 7 years of experience in model development and/or validation within a financial institution, particularly in the credit risk area. Certifications: While qualifications like CFA, FRM, PRM 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 Our team values flexibility, collaboration and in‑person engagement. This position offers flexibility with a hybrid work arrangement where the successful candidate will spend at least 3 days per week on‑site and the other days remote. Performs validation of models and assesses model risk to confirm model appropriateness and capability for a designated portfolio. Provides effective challenge during model development and communicates decisions regarding model use to the business to ensure transparency and understanding of models and model risks. Assesses model’s capabilities, stress points and limitations; assesses the associated model risk and the controls in place to mitigate identified risks. Salary $112,200.00 - $209,000.00 Pay Type 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 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 BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law. BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e‑mail to View email address on click.appcast.io and let us know the nature of your request and your contact information. #J-18808-Ljbffr BMO