Senior Manager, Stress Testing & Emerging Events Scenario Design

03/30/2025

Address:

320 S Canal Street

Job Family Group:

Audit, Risk & Compliance

Capital stress testing based on comprehensive stress test scenarios that stress the material risks and overall specific vulnerabilities of a firm’s risk profile and operations is a critical foundational element of BMO’s Risk Management Framework to ensure sufficient capital adequacy is maintained during periods of stress.  Additionally, due to the increasing complexity of the emerging events/risks facing firms, development and use of “what-if” emerging risk scenarios to inform the assessments and understanding of emerging risks is a valuable evolving practice that BMO is successfully utilizing.  These processes are in the early stages of an optimized target state transformation to maximize their efficiency, consistency and overall value.  As the Vice President of Stress Testing & Emerging Events Scenario Design, you will have the privilege of leading the enterprise-wide stress test (EWST), US stress test (CCAR) and emerging events scenario design processes. You will be a key member of a highly dedicated team leading the valuable target state transformation and managing the resulting optimized business-as-usual (“BAU”) scenario design target state by delivering structured, disciplined, diligent and thoughtful leadership and support, which includes, but is not limited to, the following:

·  Develop and implement a target state stress testing and emerging events scenario design process, which includes among many other improvements: 1) Fully integrate EWST, CCAR and emerging events scenario design processes to drive efficiency, consistency and effectiveness; 2) Fully integrate with Risk Identification and material risk to understand risk stressed and not stressed. 3) Build a single golden source library of stress and emerging events scenarios; 4) Support the incorporation of Artificial Intelligence/Machine Learning into the development of scenario narratives, variable forecasts and early-warning indicator dashboards; 5) Support the evolution to a quarterly enterprise level stress test process.   

·  Lead the end-to-end EWST and CCAR capital stress testing design processes to satisfy annual and mid-year stress testing exercises, which includes among others: 1) Conducting research on a range of possible stress scenarios; 2) Preparing scenario narratives; 3) Forecasting economic and financial variable time series under these hypothetical stress scenarios; 4) Running sensitivity analysis on key variables and other scenario inputs; 5) Systematically mapping stress scenarios to material risks; 6) Selecting certain emerging risks to include in scenarios; 7) Executing governance including review, challenge and approval of scenarios; 8) Ultimately, delivering and maintaining a suite of BAU stress scenarios that will continually evolve and can be efficiently run on a quarterly basis.

·  Lead the monthly emerging events scenario design process, which includes among others: 1) Reviewing existing emerging events and related scenarios to determine need to update/refresh based on changing dynamics of the drivers to the emerging events; 2) Reviewing new proposed emerging events and determining whether a new scenario needs to be developed or can sensitivity analysis be run on existing stress scenarios to provide sufficient assessment insight; 3) Ultimately, delivering and maintaining a suite of BAU emerging events scenarios that will continually evolve and can be efficiently run on a monthly basis.

·  Lead the development of highly insightful early warning indicator (EWI) dashboards to monitor market, business and emerging risk conditions on a daily basis, which includes incorporating AI/machine learning to forecast EWIs so they are forward-looking.

·  Develop and maintain strong relationships with 1st and 2nd LoD partners to collaborate on delivering the above mentioned objectives.  These partners include, but are not limited to the following: EWST & CCAR Stress Testing, Economics, Model Risk & Development, Credit Risk, Market Risk, Liquidity & Funding Risk, Non-Financial Risk, Strategic Risk, Reputation Risk, Environmental & Social Risk, Finance, and business lines. 

Qualifications:

· Optimally 7+ years of relevant economic research, stress scenario design, stress testing, risk management and/or financial modeling experience and degree(s) in related economic and/or quantitative fields of study or an equivalent combination of education and experience.

· In depth / Expert knowledge of economics, stress testing, scenario design and/or risk management practices.

· In-depth / Expert knowledge of business and regulatory environment and understanding of risk issues / trends and best practices.

· Knowledge of banking products, including credit and non-credit experience, economics and financial markets.

· In-depth / Expert communication and relationship management skills.

· Ability to manage multiple priorities with effective planning and organizing skills.

· Seasoned professional with a combination of education, experience and industry knowledge.

· Verbal & written communication skills - In-depth / Expert.

· Analytical and problem solving skills - In-depth / Expert.

· Influence skills - In-depth / Expert.

· Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.

· Able to manage ambiguity.

Salary:

$100,000.00 - $185,500.00

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

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 http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

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.