Senior Manager - Credit Risk Model Development

Role Summary
The Senior Manager, Retail AIRB Model Development applies advanced quantitative, mathematical, and statistical techniques to address complex financial and risk‑management challenges. The role leads the development, enhancement, and ongoing performance assessment of Retail AIRB credit risk models (PD, LGD, EAD), enabling effective capital planning, regulatory compliance, and sound risk‑based decision‑making. The Senior Manager drives innovation in modeling, ensures adherence to regulatory standards, and provides strategic insights that enhance portfolio risk management and business outcomes.

• Leads the development, redevelopment, and enhancement of Retail AIRB models (PD, LGD, EAD) across retail portfolios, ensuring strong discriminatory power, calibration accuracy, and regulatory alignment.
• Conducts advanced quantitative research, applying robust statistical, econometric, and machine‑learning techniques to address model performance challenges and portfolio trends.
• Designs, builds, and validates complex mathematical models and analytical tools to support capital planning, pricing, and risk‑return optimization.
• Ensures model design and development align with enterprise model governance expectations, including documentation standards, data quality, and effective challenge processes.

• Applies deep knowledge of AIRB rules, Basel regulatory capital frameworks, and internal risk‑governance standards to guide model development choices and ensure regulatory compliance.
• Identifies potential model‑related risks and recommends mitigation strategies based on data‑driven insights and quantitative analysis.
• Collaborates with Model Risk Management (MRM), Model Owners (MO), and Model Users (MU) to address findings, incorporate feedback, and ensure readiness for validation and implementation.
• Supports ongoing model monitoring and contributes to annual model performance assessments.

• Oversees documentation of model methodologies, assumptions, data flows, and system processes in alignment with model governance and audit expectations.
• Ensures robust data management practices, including data wrangling, preprocessing, quality assessment, and representativeness analysis.
• Evaluates and enhances end‑to‑end processes that support model development, monitoring, and implementation.

• Builds and develops high‑performing quantitative teams, fostering a culture of excellence, continuous learning, and innovation.
• Coaches, motivates, and supports team members’ growth while managing performance and ensuring clear accountability.
• Leads cross‑functional collaboration across Risk, Technology, Data & Infrastructure, Capital, and Audit stakeholders to enable successful model lifecycle execution.
• Champions BMO’s values, including diversity, equity, inclusion, purpose‑driven leadership, and customer‑centric thinking.

• Operates as a subject‑matter expert to senior leaders, providing guidance on complex modeling topics and emerging risk trends.
• Brings creative thinking to ambiguous or non‑routine modeling challenges, designing solutions that influence enterprise‑level decision‑making.
• Anticipates regulatory and industry developments, adjusting modeling approaches and strategies as required.
• Contributes to large‑scale regulatory initiatives, including AIRB applications and model roadmap programs.