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BMO Financial Group Manager, Structural Market Risk Oversight in Chicago, Illinois

Provides market risk oversight, monitoring, and reporting for a designated portfolio. Develops and monitors the market risk management framework that includes the governance framework and practices leveraged across BMO to manage market risk. Provides policies and standards, methodologies, and controls to increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance and effective monitoring, timely reporting and identification of action plans.

  • Analyze the risk metrics (Economic Value of Equity, PV01, Earnings at Risk…) from modelling, interest rate, and balance sheet changes/movements.

  • Responsible for the monitoring and reporting of Structural Market Risk limits set by the bank as a second line of defense function. Deviations and excesses from Structural Market Risk limits require investigation and sign-off from executives.

  • Prepared presentations and materials on Structural Market Risk position to be discussed at committee meetings comprised of senior leaders of Market Risk and Corporate Treasury for strategic discussions

  • Acts as a trusted advisor to assigned business/group.

  • Influences and negotiates to achieve business objectives.

  • Recommends and implements solutions based on analysis of issues and implications for the business.

  • Assists in the development of strategic plans.

  • Identifies emerging issues and trends to inform decision-making.

  • Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.

  • Helps determine business priorities and best sequence for execution of business/group strategy.

  • Conducts independent analysis and assessment to resolve strategic issues.

  • Automates validation tests to improve quality and efficiency of the validation process.

  • Identifies emerging issues and trends to inform decision-making.

  • Builds effective relationships with internal/external stakeholders.

  • Ensures alignment between stakeholders.

  • Cleanses, manipulates, and transforms data through programming/scripting for model training and validation.

  • Conducts various pre-implementation and post-implementation analyses to estimate/measure business impact caused by model adoption (e.g., revenue increase, cost reduction, corporate brand image).

  • Provides input into the planning and implementation of operational programs.

  • Executes work to deliver timely, accurate, and efficient service.

  • Develops analytical solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.

  • Provides advice and guidance to assigned business/group on implementation of analytical solutions.

  • Works with stakeholders to identify the business requirements, understand the distinct problems, and the expected outcome and models and frames business scenarios which impact critical business processes and/or decisions.

  • Works with various data owners to discover and select available data sources from internal sources and external vendors (e.g. lending system, payment system, external credit rating system) to fulfill analytical needs.

  • Applies scripting/programming skills to assemble various types of source data (unstructured, semi-structured, and structured) into well-prepared datasets with multiple levels of granularities (e.g., demographics, customers, products, transactions).

  • Develops agreed analytical solution by applying suitable statistical techniques (e.g., A/B testing, prototype solutions, mathematical models, algorithms, machine learning, artificial intelligence) to test, verify, refine hypotheses.

  • Summarizes statistical findings and draws conclusions and presents actionable business recommendations. Presents findings & recommendations in a simple, clear way to drive action.

  • Documents data flow, systems and processes in data collection to improve efficiency and apply use cases.

  • Performs experimental design approaches to validate finding or test hypotheses.

  • Uses the appropriate algorithms to discover patterns.

  • Builds effective relationships with internal/external stakeholders. Ensures alignment between stakeholders.

  • Supports development of tools and delivers training for data and analytics.

  • Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.

  • Leads/participates in the design, implementation and management of core business/group processes.

  • Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.

  • Provides specialized consulting, analytical and technical support.

  • Exercises judgment to identify, diagnose, and solve problems within given rules.

  • Works independently and regularly handles non-routine situations.

  • Broader work or accountabilities may be assigned as needed.

Qualifications:

  • Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and banking experience.

  • A minimum of 3 years of experience working in a Financial Institution with knowledge of Asset/Liability Management is required.

  • Knowledge of and/or experience with Quantitative Risk Management (QRM) is ideal

  • Post-secondary degree in Finance, Mathematics, Statistics, Quants, OR Engineering

  • A professional designation in Finance or Risk management is preferred.

  • Deep knowledge and technical proficiency gained through extensive education and business experience.

  • Verbal & written communication skills - In-depth.

  • Collaboration & team skills - In-depth.

  • Analytical and problem solving skills - In-depth.

  • Influence skills - In-depth.

  • Data driven decision making - In-depth.

  • .

Salary:

$94,300.00 - $174,900.00

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: https://jobs.bmo.com/global/en/Total-Rewards

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 https://jobs.bmo.com/us/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. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. 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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