Manager, Regulatory & Economic Capital

Address:

As part of the Risk Capital team in Credit Risk Management (CRM) within Enterprise Risk and Portfolio Management (ERPM), the incumbent is responsible for on-going analysis of Regulatory and Economic Capital trends and metrics and acting as subject matter expert for Capital Demand to facilitate the development of portfolio management and capital optimization strategies.

60% Capital Analytics

• Conduct timely and accurate analysis of the monthly enterprise regulatory and economic capital submissions focusing on both Internal Capital Adequacy Assessment Process (ICAAP) and Basel Capital Adequacy (BCAR) review.
• Produce regular and ad-hoc reports to explain period over period changes in RWA and Economic Capital. Engage and communicate with Business, Risk, Finance and Technology partners to identify major drivers of the changes and lead execution of both short term and permanent solutions.
• Work with other teams in Risk such as Stress Testing and Portfolio Management and perform capital impact analysis under stressed scenarios.

20% Production Support

• Support monthly production and reporting activities related to Economic Capital, including implementing necessary code updates to reflect new models or methodologies.
• Prepare Economic Capital materials and presentations for senior management.
• Support OSFI ICAAP regulatory filing process, ensuring accuracy and timely submission.

20% Methodology and Models Support

• Assist with the annual validation of Economic Capital models, ensuring compliance with internal standards and regulatory expectations.
• Keep abreast of OSFI regulations - Capital Adequacy Requirements (CAR) and Internal Capital Adequacy Assessment Process (ICAAP) - as well as the internal regulatory processes to assist the implementation of new regulations.

Qualifications

• Undergraduate degree in a quantitative discipline - Actuarial Science, Applied Mathematics, Statistics, or Quantitative Finance. Relevant professional designation (e.g. SOA, FRM, or PRM) or equivalent business experience is desirable.
• Proficiency in SAS and SQL is required, with hands-on experience in database querying and programming.
• Familiarity with OSFI capital regulations in areas such as credit risk, market risk, or operational risk is considered an asset.
• 3+ years business experience at a financial institution in credit risk or capital management is preferred.
• Strong quantitative and analytical skills.
• Excellent communication skills both written and verbal.
• Excellent working knowledge of Microsoft Office software (Excel, Word, PowerPoint, PowerBI).

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.