Vice President, Risk Identification and Emerging Events & Scenarios

Application Deadline:

06/05/2025

Address:

320 S Canal Street

Job Family Group:

Audit, Risk & Compliance

Key Responsibilities:

• Develop and implement a highly efficient, consistent and insightful target state credit, counterparty, market and liquidity & funding risk inventory identification and assessment process across all applicable operating groups, LoBs and assessment units by integrating with existing BAU stress forecasting processes by working diligently with our 1st and 2nd LoD partners.

• Develop and implement a highly efficient, consistent and insightful process to map existing and proposed emerging risks to above mentioned risk types to understand risk inventory coverage and understanding of new and/or evolving emerging risks.

• Support the development and implementation of a highly efficient, consistent and defensible process to map material risks to stress test scenarios

• Support the development and implementation of an efficient and consistent target state integration of material risks with Risk Appetite

• Support the development and implementation of target state integration of machine learning and artificial intelligence into Risk ID & Emerging Risks to improve risk assessments, risk indicators and scenarios.

What We're Looking For:

• Strong technical foundation in data science, statistics, quantitative modeling, machine learning, AI, economics etc..

• Background in risk management, credit, market and/or liquidity & funding risk is a plus but not mandatory

• Strong communication and relationship building skills

• Approximately 5+ years of experience (including graduate-level work); MBAs or Master’s in technical fields

• Passionate, proactive, and eager to contribute meaningfully

Preferred Qualifications:

• Proficiency in Python, R, SQL, or similar tools used for modeling and analysis

• Proficiency in financial modeling or risk management concepts

• Strong academic background from top-tier programs

If you’re looking for your next dream job, consider this one in BMO’s Enterprise Risk Group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture.  #ERPMDreamJobs

Risk Identification & Assessment (“Risk ID”) and Emerging Events & Scenarios (“EES) are critical foundational elements of BMO’s Risk Management Framework and Enterprise Risk Management.  Risk ID & EES program is in the early stages of executing an optimized target state roadmap that will transform it to be fully integrated and in harmony with 1st and 2nd LoD BAU processes and reporting to deliver a strongly supported material and emerging risk inventory.  Material and emerging risks will be integrated with risk appetite, strategic planning and stress testing to deliver efficient, consistent and valuable risk reporting to management committees and the Board to guide the overall operations of BMO.  As a VP of Risk ID & EES, you will have the privilege of being a key member of a highly dedicated team leading this extraordinarily valuable transformation and managing the resulting optimized business-as-usual (“BAU”) target state by delivering structured, disciplined, diligent and thoughtful leadership and support across many enhancements/efforts, including, but not limited to, the following:

• Credit Risks - Develop and implement a highly efficient, consistent and insightful target state credit risk inventory identification and assessment process across all applicable operating groups, LoBs and assessment units by integrating with existing monthly credit stress loss forecasting processes and working diligently with our 1st and 2nd LoD partners.

• Counterparty Credit Risks - Develop and implement a highly efficient, consistent and insightful target state counterparty credit risk inventory identification and assessment process with Capital Markets operating group by integrating with existing counterparty stress loss forecasting processes and working diligently with our 1st and 2nd LoD partners.

• Trading & Non-Trading Market Risks - Develop and implement a highly efficient, consistent and insightful target state trading and non-trading market risk inventory identification and assessment process with Capital Markets, Wealth Management and Corporate Treasury operating groups by integrating with existing BAU trading mark-to-market, non-traded market and other stress loss forecasting processes and working diligently with our 1st and 2nd LoD partners.

• Liquidity & Funding Risks - Develop and implement a highly efficient, consistent and insightful target state liquidity & funding risk inventory identification and assessment process with Corporate Treasury by integrating with existing BAU internal liquidity stress testing and other stress outflow forecasting and working diligently with our 1st and 2nd LoD partners.

• Emerging Risks - Develop and implement a highly efficient, consistent and insightful process to map existing and proposed emerging risks to above mentioned risk types to understand risk inventory coverage and understanding of new and/or evolving emerging risks.

• Stress Test Scenarios- Support the development and implementation of a highly efficient, consistent and defensible process to map material risks to stress test scenarios

• Risk Appetite - Support the development and implementation of an efficient and consistent target state integration of material risks with Risk Appetite Limits/KRMs/KRIs and Strategic Planning to deliver efficient, holistic and insightful risk reporting to management and the Board

• Machine Learning & Artificial Intelligence - Support the development and implementation of target state integration of machine learning and artificial intelligence into Risk ID & EES to improve risk assessments, risk indicators and scenarios.

• 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.

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.

• Ensures alignment between values and behaviour that fosters diversity and inclusion.

• Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.

Qualifications:

• Optimally 7+ years of relevant risk management, data science, machine learning, artificial intelligence, financial modeling, economic and/or stress testing experience and degree(s) in related quantitative fields or an equivalent combination of education and experience.

• In depth / Expert knowledge of risk management, modeling/forecasting, economics and/or stress testing.

• Knowledge of banking products, including credit and non-credit experience, economics and financial markets.

• In-depth / Expert communication and relationship management skills.

• In-depth / Expert ability to manage multiple priorities with effective planning and organizing skills

• In-depth / Expert 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 ability to manage ambiguity.

Salary:

$100,000.00 - $185,500.00

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: 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 http://jobs.bmo.com/us/en

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 BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

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.