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    Analyst, Independent Review, Credit Risk - Toronto, Canada - BMO

    BMO
    BMO Toronto, Canada

    3 weeks ago

    BMO background
    Full time
    Description

    Application Deadline:

    04/18/2024

    Address:

    100 King Street West

    Job Family Group:

    Audit, Risk & Compliance

    If you're looking for your next dream job, consider this one in BMO's ERPM 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

    • This position is located in Toronto and offers a hybrid work arrangement with at least 3 days per week on-site and other days remote.
    • Recent graduates with quantitative finance or math background, and strong academic accomplishment may be considered.

    The role of Analyst/Senior Analyst, Independent Review (IR), Credit Risk is a part of the Independent Review function within Capital Risk Management, Enterprise Risk, responsible for providing effective challenge of compliance and/or assessing compliance of Pillar I Advanced Internal Rating Based (AIRB) Approach for Retail and Wholesale Capital Models with regulatory requirements, as set out by the Office of the Superintendent of Financial Institutions Canada (OSFI).

    Key Accountabilities

    A. Conduct Independent Review of Pillar I AIRB Approach for Credit Risk Capital Models (75%)

    • For Credit Risk Retail and Wholesale AIRB Capital Models, provide effective challenge of regulatory compliance and/or assess regulatory compliance with OSFI's CAR Guideline and related Implementation Notes, including both New Models and Model Modifications.
    • Participate in the Enterprise Self-Assessment Process (SAP) for compliance with OSFI requirements.
    • Complete reviews of Capital Models, including Materiality Assessments (Quantitative and Qualitative) and Integration, Operations and Controls (IOC) as set out in the OSFI A-2 Implementation Note Capital Model Assessment Program (CMAP).
    • Complete and document assigned reviews in accordance with established Independent Review Standard Operating Procedure (SOP) on an annual basis or within timelines required.
    • Form a view of the status of compliance for Capital Models; identify Findings (gaps to full compliance) and Recommendations (areas for improvement), as well as completion of impact assessments.
    • Ensure accurate and regular reporting within appropriate issues management systems.
    • Prepare comprehensive and professionally written results which include Findings and Recommendations for stakeholders and executive audiences.
    • Maintain effective challenge and compliance assessment supporting documentation in auditable form.
    • Under the guidance of the Senior Manager and/or Director, undertake other activities, as required.

    B. Relationship Management (20%):

    • Interact on a cross-functional basis with 1st, 2nd, and 3rd line stakeholders, while maintaining independence.

    C. Change and Innovation (5%):

    • Provide recommendations to support continuous improvement of the Independent Review process to increase the efficiency and to support Lines of Business revenue-generation activities.

    Knowledge and Skills

    a) Knowledge

    • Undergraduate degree in related discipline: business, quantitative finance, accounting, economics, mathematics/statistics.
    • Strong math and statistic skills required.
    • 1-3 years risk management experience at a financial institution or consulting firm, in credit risk management, internal audit or regulatory compliance.
    • Knowledge of Retail and Wholesale Credit Risk Capital Models
    • Knowledge of Pillar I AIRB Approach, OSFI's Capital Adequacy Requirements (CAR) Guideline and related Implementation Notes
    • Knowledge of banking products and their risk characteristics, including Retail and Wholesale Credit Risk products
    • Knowledge of Corporate Audit processes
    • Nice to have – Model Development or Model Validation experience for credit risk capital models at a bank or consulting firm.

    b) Skills

    • Strong quantitative skills – Statistics, Math, Quantitative Finance.
    • Excellent analytical skills and attention to detail and accuracy
    • Excellent communication skills both written and verbal
    • Excellent time management skills

    Compensation and Benefits:

    $54, $101,500.00

    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:

    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

    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.

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