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Senior Manager – Stress Testing (CCAR)

BMO Financial Group

This is a Contract position in Toronto, ON posted December 18, 2021.

Address:

100 King Street West

Job Family Group:

Data Analytics & Reporting

We are hiring! The purpose of this role is to support the U.S. Credit Stress Testing team in the preparation of regular, periodic and ad-hoc credit stress tests, including regulatory stress testing submissions for all Wholesale and Retail portfolios as required.  In this role, you will be responsible for execution and creation of SAS jobs required for stress testing models and automation of manual files in SAS. Additionally, you will be a subject matter expert on data utilized in stress testing and assist in any research required to understand stress testing results.  You will have the opportunity to play a leadership role in the team and is responsible for all aspects of credit stress testing lifecycle with a focus on analytics, tactical execution and strategic continuous improvement. This involves meaningful contributions to credit analysis and stress testing activities and close partnership with upstream and downstream groups. Come join our team!

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.

  • Provides strategic input into business decisions as a trusted advisor.
  • Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
  • 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 governance framework.
  • Develops reports on the status of the stress testing and scenario analysis program or framework components to various internal & external stakeholder audiences.
  • Influences and negotiates to achieve business objectives.
  • Identifies emerging issues and trends to inform decision-making.
  • 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.
  • Measures the effectiveness of stress testing and scenario analysis methodologies and frameworks; recommends changes as required.
  • Conducts independent analysis and assessment to resolve strategic issues.
  • Leads the development and maintenance of the governance system and framework.
  • Acts as the prime subject matter expert for internal/external stakeholders.
  • Ensures alignment between stakeholders.
  • Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
  • Designs and produces regular and ad-hoc reports, and dashboards.
  • Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
  • Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
  • Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
  • Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
  • Manages the review and sign-off process for relevant regulatory reporting.
  • 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.
  • Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
  • Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
  • Implements changes in response to shifting trends.
  • Broader work or accountabilities may be assigned as needed.

Qualifications:

  • Credit Stress Testing experience desired.
  • SAS and/or SQL experience querying large amounts of data, desired.
  • Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • In-depth / expert knowledge and understanding of stress testing and scenario analysis methodologies and frameworks.
  • Proficiency in statistical/numerical software.
  • In-depth / expert knowledge of quantitative risk modeling, calculation of Regulatory and Economic Capital.
  • Seasoned professional with a combination of education, experience and industry knowledge.
  • Verbal & written communication skills – In-depth / Expert.
  • Analytical and problem solving skills – In-depth / Expert.
  • Influence skills – In-depth / Expert.
  • Collaboration & team skills; with a focus on cross-group collaboration – In-depth / Expert.
  • Able to manage ambiguity.
  • Data driven decision making – In-depth / Expert.

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.

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