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Job Information

BMO Financial Group Senior Manager, Credit Risk Modeling - Decision Science in Chicago, Illinois

Address:

111 W Monroe - 115 S LaSalle

Job Family Group:

Data Analytics & Reporting

This role is accountable for leading the specialized credit risk analysis, risk rating systems, and introducing new data science techniques and methodologies to support credit risk management activities for North American (NA) Personal and Business Banking portfolios.

The Senior Manager provides advanced analytical expertise to manage the development, validation, monitoring, reporting and documentation of the origination, portfolio risk management and collection models and strategies.

  1. Credit Risk Model Development for NA Personal & Business Banking portfolios
  • Lead the development and maintenance of risk rating systems and/or scorecards used in adjudication, account management and collections for US BMO consumer and business banking portfolios.

  • Responsible for specialized analysis, development of creative data science solutions and recommending improvements to risk rating systems and/or credit risk scorecards.

  • Lead the development, maintenance and production of the ongoing model monitoring framework.

  • Responsible for improvements to the production, organization, analysis and accuracy of ongoing monitoring and ad hoc reports for both consumer and business banking portfolios

  • Identify, promote and lead process improvements including streamlining, automating, and standardizing processes. Liaise with technology teams or outside vendors to communicate requirements and review deliverables.

  • Lead research of new innovative modeling methodologies and tools to support model development, monitoring and reporting.

  • Responsible for improvements to risk rating systems, scorecards and existing reports, processes and procedures.

  • Good verbal and written communications required to ensure model documentation is clear and provides third party reviewers (i.e. Model Validation, Model Governance, Audit, OCC, FED, OSFI, etc) the ability to replicate model functionality. Ensure transparency in detailing steps/assumptions/limitations of the models.

  • Lead preparation of presentations, documentation or business cases to senior management

  • Thorough understanding of Consumer and Business Banking origination, account management and collection systems and polices. (I.e. origination, portfolio management, collection, and provision systems) and policies.

  • Support the implementation, monitoring and validation of credit risk rating systems and/or scorecards

  • Ensure models can be deployed in existing environments.

  • Specialized support for the development of risk models and strategies to support sales/marketing initiatives on lending products

  • Provide expertise to others involved in the development, documentation, and validation of models to support risk rating systems, credit risk scorecards and other analytical initiatives

  1. Credit Risk Analytics for NA Personal and Business Banking portfolios
  • Partner with risk and lines of business teams to develop analytic solutions, ad-hoc analysis and modeling to drive new initiatives, improve business processes and deliver value using data driven decisions. This includes but is not limited to the development of data science and business intelligence solutions across consumer and business banking products.

  • Provide data science and modeling expertise to others involved in the design of credit risk strategies and solutions

  1. Project Management
  • Responsible for providing analytical expertise on larger scale projects with the strategic implications

  • Responsible for leading larger scale and strategic projects

  • Responsible for designing, creating and managing detailed documentation and change logs for regulatory purposes

  • Responsible for change management activities including the creation and management of change logs

CROSS-FUNCTIONAL RELATIONSHIPS:

This role requires the incumbent to interact with the following processes and/or groups:

  • Other members of the Risk department (Including Risk Strategy, Technology and Reporting department) for the purposes of providing information, reviewing strategies and making recommendations

  • The Products department for the purposes of providing product knowledge, and making recommendations about credit strategies

  • Model Risk for the purposes of providing model documentation for vetting and to comply with policies and standards

  • Analytics Center of Excellence team for the purposes of providing information and reviewing strategies related to lending products

  • RCST department for the purposes of providing and receiving information for CaR plans

  • Third party suppliers (e.g. FICO, Equifax, TransUnion etc.) for the purposes of receiving and understanding data

  • Third party suppliers (e.g. SAS, Moody’s.) for the purposes of using critical software for the role

  • Integrated Risk Reporting for the purposes of understanding data in the marts and support the implementation and monitoring of the models.

Qualifications:

  • Typically 7+ years of relevant experience and/or certification in related field of study or an equivalent combination of education and experience.

  • At least Master’s degree in Statistics, Mathematics, Actuarial Science, Engineering, Operations Research, Economics, Computer Science or another highly quantitative field

  • Expert knowledge of sound practices in scorecard as well as PD, EAD, and LGD model development, validation, deployment, documentation and on-going compliance coupled with deep understanding of modeling theory and methodologies combined with practical application.

  • Thorough understanding of Consumer and Business Banking origination, account management and collection systems and polices. (I.e. origination, portfolio management, collection, and provision systems) and policies.

  • Strong Hadoop, mainframe, UNIX, etc. skills

  • Excellent knowledge of various statistical and data mining software skills including SAS, R, Python, etc.

  • Excellent knowledge of bank products and credit risk concepts

  • Excellent interpersonal, relationship building and communication skills(written and verbal)

  • Excellent analytical, problem solving and technical skills

  • Excellent time management, planning and organizing skills to manage multiple priorities and deliver quickly under pressure

  • Strong leadership and mentoring skills

  • Strong project management and change management skills

  • Ability to translate highly technical concepts into actionable business solutions

  • Ability to effectively communicate findings and insights in a clear and concise manner to different audiences with varying tech

We’re here to help

At BMO Harris Bank 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 Harris Bank 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.bmoharris.com.

BMO Harris Bank 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 Harris Bank N.A. 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.

BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.

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