Associate, Data Scientist, Optimization - Toronto

Additional Job Description · BMO Capital Markets is a leading, full-service North American-based financial services provider, with over 2,700 professionals in 30 locations around the world, including 20 offices in North America, offering corporate, institutional and government cl ...

Job description

Additional Job Description

BMO Capital Markets is a leading, full-service North American-based financial services provider, with over 2,700 professionals in 30 locations around the world, including 20 offices in North America, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services.

BMO Capital Markets is a member of BMO Financial Group (NYSE, TSX:
BMO), one of the largest diversified financial services providers in North America with US$1.0 trillion total assets and approximately 54,000 employees as of January 31, 2025.

About The Role

We are seeking a highly skilled Data Scientist to join our Collateral Management team, focusing on developing and enhancing our optimization platform for Equity and Fixed Income financing operations.

You will work on mathematical models and large-scale data processing that manage billions in collateral across Global Markets.

Our Team

The Data Cognition Team (DCT) at BMO Capital Markets offers a scalable, customizable, and sustainable suite of core AI-enabled and Optimization products for various business units.

With access to the latest data and analytics applications, we develop products that solve the most challenging business problems. Our methodology drives strategic processes impacting multiple business units, including Investment Banking, and Global Markets.

Responsibilities

Work directly with Trading Desks to understand collateral optimization needs, and then turn this into actionable models and solutions
Develop advanced mathematical models for collateral optimization, risk management, and capital efficiency.
Design and implement multi-objective optimization algorithms, including balancing funding costs, liquidity constraints, regulatory requirements, transaction costs, and others.
Enhance and extend our Pyomo-based optimization framework for collateral allocation across Equity and Fixed Income trades.
Optimize existing codebase and build robust ETL pipelines processing and develop data quality frameworks.
Research and prototype machine learning approaches for predictive collateral management.
Research emerging quantitative finance techniques applicable to collateral optimization.
Communicate complex technical concepts to non-technical stakeholders and present results to senior management and other key decision-makers.
Ensure all steps needed in the delivery of demanding data products are understood and executed.

Work with BMO Technology teams to design, deploy and manage solutions using the AWS services such as ECS, Fargate, Lambda, and RDS.

Work with REST APIs from vendors and triparty services that provide security referential information regarding collateral eligibility
Visualize complex data in a clear and concise manner. Work with Trading Desk to interpret results and apply feedback into ongoing improvement of the collateral optimization models.


Who we're looking for:
Advanced degree in Computer Science, Mathematics, Physics, or a related field, with a concentration in finance, economics, or operations research
Minimum of 3 years' experience in quantitative finance, ideally in collateral management, securities lending, or repo trading
Preferred experience in Capital Markets
Deep knowledge of equity financing markets, including securities lending, repo, and prime brokerage operations
Experience with fixed income markets, bond financing, and cross-asset trading strategies
Strong quantitative, technology, and finance skills
Expert-level Python programming, including experience with optimization libraries (Pyomo, Gurobi, CPLEX)
Experience with common data science toolkits
Advanced knowledge of design and analysis methodologies
Strong database skills, including PostgreSQL and SQL Server
Solid understanding of mathematical optimization, linear/quadratic programming, and constraint modeling
Proficiency in Linux environments, Docker, and cloud platforms (AWS preferred)
Experience with version control, CI/CD pipelines, and collaborative development practices
Familiarity with finance tools such as Bloomberg, FactSet, and Thomson Reuters (a plus)
Ability to investigate phenomena, formulate hypotheses, and learn from data
Detail-oriented and results-driven
Able to exercise independent thought and judgment, and adapt quickly to new tasks
Team-oriented, comfortable sharing ideas, and collaborating effectively
Proven track record of excellence working on complex projects involving multiple stakeholders

Join our team at BMO Capital Markets and contribute to solving complex challenges in Investment Banking and Global Markets using innovative technologies.

Apply today with your resume, highlighting your relevant experience in data science and finance.

Base

Salary:
$90,000-$120,000 CAD

(subject to negotiation and subject to the candidate meeting the specific skills, experience, education, and qualification requirements)


Salary:

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:

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

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.