Overview
Senior Analyst, Credit Risk Model Validation Jobs in Toronto, Canada at BMO Financial Group
Application Details
Final date to receive applications: 04/02/2026
Address: 100 King Street West
Job Family Group:
Audit, Risk & Compliance
Position Overview
Seeking a skilled and experienced professional to join our Model Risk Management Team as a Senior Analyst, Model Risk, Credit Risk. As a senior analyst 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), operational risk, 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. This position is located in Toronto and 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.
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. 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.
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.
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.
Additional Responsibilities
Shares technical knowledge of models and validation strategies with team members and stakeholders.
Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Troubleshoots model validation issues with team members and stakeholders.
Leads or assists with the maintenance, monitoring, measurement & reporting on the status of the model validation portfolio / program to various internal & external stakeholder audiences.
Supports the development and promotion of a business/group program for model validation.
Develops validation strategies and plans to ensure appropriate type and level of vetting of models is carried out.
Independently validates / tests models and their associated assumptions, benchmarks, and supporting documentation against model vesting process, standards, guidelines and principles; assesses the data for model development as well as inputs to the model; compares validation results with model developer results for replicability.
Identifies deficiencies, conditions for model use, recommends changes, and escalates as required; quantifies model risks, documents outcomes and communicates with stakeholders.
Identifies where corrective actions are required and escalates per guidelines; monitors and ensures corrective action is taken.
Provides technical advice and guidance to assigned business/group on implementation of the model vetting framework, and resolution of model risk issues.
Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
Builds effective relationships with internal/external stakeholders.
Ensures alignment between stakeholders.
Monitors and tracks performance; addresses any issues.
Coordinates and monitors the review and sign‑off of model validation reporting including model inventory and model inventory attestations.
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…
Title: Senior Analyst, Credit Risk Model Validation
Company: BMO Financial Group
Location: Toronto, Canada
Category:
