Description

Application Deadline:

02/26/2026

Address:
320 S Canal Street

Job Family Group:
Finance & Accounting

The Senior Manager, Structural Market Risk (SMR) leads the development, enhancement, and implementation of quantitative risk models and assumptions that measure and manage structural market risk across the Bank's balance sheet. The role focuses on products with contractual maturities and embedded optionality, ensuring methodologies, assumptions, and analytics accurately reflect customer behavior, market dynamics, and regulatory expectations. The incumbent collaborates closely with Corporate Treasury, Market Risk, Model Risk, and business partners to strengthen the Bank's SMR framework and analytical capabilities.

Key Accountabilities

Model Development, Implementation & Oversight

• Coordinate the development and implementation of SMR behavioral models, including embedded option valuation and earnings/economic value methodologies.
• Liaise with lines of business and product owners to fully understand product terms, embedded optionality, and customer behaviors that influence model design.
• Collaborate with Corporate Treasury teams to review and design behavioral models that can be implemented efficiently in QRM across SMR, FTP, and Planning/Forecasting use cases.
• Coordinate model implementation and testing with QRM Architecture, SMR Analytics & Reporting, and model development teams.
• Develop and maintain robust model and non‑model assumption documentation, including methodologies, testing, and impact analysis.
• Provide comprehensive documentation and lead responses during Market Risk and Model Risk oversight review and challenge processes.
• Ensure compliance with all model risk and market risk policies, standards, and governance frameworks.
• Lead ongoing model monitoring, including back‑testing, benchmarking, and stress‑testing, recommending refinements as appropriate.

Assumption Governance & Quantitative Analytics

• Create, periodically review and refine non‑model assumptions driving valuation, earnings forecasts, and customer behavior estimates.
• Develop quantitative analyses and processes supporting FTP components such as option costs, prepayment rates, weighted average lives, and related product cash‑flow characteristics.
• Ensure alignment of assumptions and methodologies across SMR, FTP, and hedging strategies within Corporate Treasury's Asset Liability Management framework.

Strategic Advisory & Stakeholder Partnership

• Provide SMR subject matter expertise to senior leaders on risk methodology, product design implications, and regulatory requirements.
• Lead responses to recommended changes or findings from Market Risk, Model Risk, Internal Audit, External Audit, and regulators.
• Build strong relationships with internal/external stakeholders, incorporating industry best practices and competitive insights to enhance SMR capabilities.
• Participate in projects focused on optimizing SMR measurement, reporting, hedging strategies, and risk management processes.

Reporting, Data, and Process Excellence

• Define analytical and reporting requirements to support decision‑making; produce dashboard reporting and ad‑hoc analysis.
• Ensure alignment and integration of data across systems in accordance with data governance standards.
• Collaborate with data owners to source, validate, and integrate internal and external datasets relevant to SMR modeling.
• Monitor market conditions, identifying impacts to model performance, assumptions, and overall SMR metrics.

Leadership, Strategy & Change Management

• Provide strategic input to business decisions and contribute to roadmaps for model, assumption, and methodology enhancements.
• Lead or participate in change management initiatives, ensuring effective execution, communication, and sustained enhancements.
• Apply expert judgment to solve complex, ambiguous analytical and risk‑related challenges.

Qualifications

• Previous experience in Asset Liability Management or Market Risk Management with a focus on Interest Rate Risk
• Strong in‑depth experience using the QRM Asset Liability Management Framework or similar software
• Previous experience implementing behavioral models in the QRM Framework or similar software
• Previous experience in fixed income, derivatives, or loan valuation, including instruments with embedded options
• Strong knowledge of Funds Transfer Pricing best practices for bank products with embedded optionality
• Strong understanding of loan prepayment modelling and cash‑flow waterfalls from structured mortgage‑backed securities and other asset‑backed securities
• Strong knowledge of stochastic rate‑path valuation concepts
• Typically 7+ years of relevant experience with a post‑secondary degree or equivalent mix of education and experience.
• Advanced degree in quantitative disciplines and/or professional finance/risk designations preferred.
• Strong proficiency in Excel, SQL, VBA, and Python.
• Experience with risk management, financial markets, pricing, and ALM functions.
• Advanced analytical, problem‑solving, communication, influence, and cross‑group collaboration skills.
• Ability to manage ambiguity and support data‑driven decision‑making.

Salary:

$122,400.00 - $228,000.00

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 BMOCareers.Support@bmo.com 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.