The role is responsible for supporting BMOs Retail Credit Cards & Personal Lines of Credit product portfolios in the development of Net Present Value (NPV) decision making models to size growth opportunities and optimize within our existing risk appetite across credit lifecycle stages. The incumbent will play a critical contributory role in the creation of statistical and financial models to support BMO’s risk optimization initiatives, making use of a deep understanding of retail banking products and the economics that drive product and portfolio value. This role works collaboratively with partners across Retail Banking, Credit Risk, Finance, Marketing and Technology & Operations and the broader North American Data & Analytics Centre of Excellence team.
Essential Responsibilities
End-to-end accountability in developing, analyzing, and integrating Net Present Value decision making Models
Perform analyses that require the application of financial concepts and tools i.e. NPV, IRR, Discounted Cash Flows, loss projections as well as exposure and risk assessment.
Collaborate with partners to drive the progress of NPV model development against both business objectives and deadline requirements
Design, develop and maintain code used for data engineering and modelling tasks in order to prepare, manipulate and analyze large internal and external datasets using SAS, R, Python, or SQL.
Extract, manipulate and analyze data from a variety of sources to formulate insightful conclusions, provide strategic recommendations, and inform management actions
Establish and maintain both analytical model development and financial performance measurement standards. Ensure that models are updated with key inputs and assumptions.
Contribute thought-leadership to experienced forum of modellers and decision-makers that will ultimately optimize credit strategies
Provide analytical solutions involving descriptive, predictive, and prescriptive analysis through the retail lending portfolio lifecycle, leveraging a variety of techniques
Communicate effectively on complex concepts and results to internal partners and manage issues surrounding the development of NPV models
Support the delivery and enhancement of regularly scheduled (monthly, quarterly) reporting packages for models and/or credit risk strategic initiatives
Assist in preparing materials for presentations, documents or business cases to senior management as needed
Assist in conducting portfolio and ad-hoc analysis as needed
Assist in project management activities as required.
Knowledge, Skills & Experience
Qualifications/Requirements
The ideal candidate will hold a University degree in Statistics, Mathematics, Finance & Accounting, Actuarial Science, Engineering, or another highly quantitative field, preferably in financial service industry
Post graduate education (e.g. MBA in relevant field, CPA/CFA designations) is a strong asset.
At least 5+ years of relevant experience with a major financial institution.
Strong familiarity with retail banking product economics.
Understanding of credit risk concepts is an asset.
Understanding of Basel capital requirements is an asset.
Advanced programming skills; proficiency with programming languages such as R, SAS, Python or SQL; and a high level of familiarity with Microsoft Office tools.
Ability to independently conceptualise and explain financial ideas.
Strong project management skills with the ability to manage multiple assignments effectively.
Proven analytic and problem solving skills.
Ability to effectively communicate findings and insights in a clear and concise manner to different audiences with varying technical backgrounds.
Ability to translate highly technical concepts into actionable business solutions.
Excellent oral and written communication skills.
Strong collaboration, teamwork skills.
Desired Characteristics:
Advanced programming skills; proficiency with programming languages such as R, SAS, Python or SQL; and a high level of familiarity with Microsoft Office tools.
Strong project management skills with the ability to manage multiple assignments effectively.
Understanding of risk management concepts including Probability of Default(PD), Exposure at Default (EAD) and Loss Given Default (LGD), etc.
Experience developing data science models and solutions
Experience working with big data
In-depth analytical and problem solving skills
Strong communication, interpersonal, and team building skills
Demonstrates ability to build a good fact base, apply sound reasoning, and generate relevant recommendations that get implemented and lead to business success
Flexibility and resourcefulness to interface and collaborate with internal and external groups
Ability to take accountability and ownership of deliverables
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.
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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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