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About the Role

The Manager, Structural Market Risk (SMR) supports the research, development, and enhancement of quantitative risk models that measure and manage structural market risk across the Bank’s portfolios in coordination with the quantitative modeling team. This role develops and implements methodologies for products with contractual maturities and embedded optionality, ensuring risks are accurately identified, measured, and integrated into effective risk management practices. The role collaborates closely with lines of business, other Corporate Treasury teams and oversight partners to strengthen the Bank’s SMR framework.

Responsibilities

Coordinate the development, enhancement, and implementation of SMR models with the quantitative modeling team, including valuation of embedded options, customer behavioral models, and Earnings-at-Risk/economic valuation methodologies.
Perform model testing and coordinate model implementation across QRM Architecture, SMR Analytics & Reporting and model development teams.
Maintain comprehensive documentation covering model assumptions, methodologies, testing and impact analyses.
Ensure that models and non‑model assumptions meet Bank policies, standards, and regulatory requirements.
Perform ongoing back‑testing, stress‑testing, and benchmarking activities, recommending refinements to maintain model effectiveness.
Develop, validate, and periodically review key non‑model assumptions that drive valuation and earnings estimates.
Provide subject matter expertise on behavioral modeling requirements, ensuring alignment across SMR, Funds Transfer Pricing (FTP), and corporate planning/forecasting.
Conduct quantitative analyses to support FTP rate components, including option costs, prepayment rates, and product cash‑flow characteristics.
Ensure consistency in assumptions and methodologies across structural market risk, FTP, and hedging strategies.
Partner with business and product owners to understand product features, embedded optionality, and customer behavior drivers.
Provide insights to senior leaders, offering strategic input on SMR methodologies, regulatory expectations, and risk impacts.
Lead responses to review and challenge from Market Risk, Model Risk, Internal/External Audit, and regulators.
Build strong relationships with internal and external stakeholders, contributing competitive insights and industry best practices.
Define reporting requirements and design and produce dashboards, analytics, and ad‑hoc reports supporting SMR decision‑making.
Manage and integrate data across relevant sources in compliance with data governance standards.
Support the optimization of SMR measurement, reporting, and risk management processes, including supporting hedging strategy enhancements.
Monitor the financial market environment and assess implications on model performance and structural risk metrics.
Support strategic initiatives related to SMR, model improvements or Corporate Treasury processes.
Develop business cases, recommend priorities, and recommend resource requirements to advance key initiatives.
Facilitate change management activities, ensuring effective planning, execution, and sustainment of new processes, models or methodologies.
Apply creativity and experience to address complex, ambiguous, and non‑routine risk and modeling challenges.

Requirements

5-7 years of experience in Asset Liability Management, Market Risk Management or related quantitative risk domains.
Experience running the QRM Asset Liability Management Framework (or similar ALM software), including configuring, testing and implementing behavioral models.
Experience in fixed income, derivatives and valuation of instruments with embedded options.
Demonstrated understanding of FTP methodologies, stochastic valuation techniques and loan prepayment modeling.
Experience with risk management, financial market products, valuation and balance sheet/ALM functions.
In‑depth understanding of quantitative modeling, statistics, financial metrics and data‑driven decision‑making.
Excellent communication, analytical, problem‑solving, collaboration, and influence skills; ability to manage ambiguity and operate across the enterprise.

Skills

Advanced proficiency with Excel, SQL, VBA, and Python; knowledge of AI prompting best practices.

Location

320 S Canal Street

Work Type

Salaried

Experience Level

5-7 years

Education Level

Post-secondary degree in a relevant field; advanced degree in quantitative disciplines (e.g., Computer Science, Mathematics, Physics, Engineering, Statistics, Finance) preferred.
Professional designations in finance or risk (e.g., FRM, CFA) preferred.

Salary/Compensations

$88,800.00 - $165,600.00

Benefits

Health insurance
Tuition reimbursement
Accident and life insurance
Retirement savings plans

About the Company

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 a leading bank driven by a single purpose: to Boldly Grow the Good in business and life. Everywhere we do business, we’re focused on building, investing and transforming how we work to drive performance and continue growing the good.
We’re proud to be fueling growth and expanding possibilities for individuals, families and businesses. More than 12 million customers count on us for personal and commercial banking, wealth management and investment services. As the 8th largest bank in North America by assets, we provide personal and commercial banking, wealth management and investment services to more than 12 million customers. In Canada, the United States and across the globe, we’ll continue to build, invest and transform to drive performance that serves the good that grows.

Equal Opportunity

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.