AIRB Quantitative Analyst (Retail)

Location: Toronto, ON, CAN

Time Type: Full time

Job Description

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Applies quantitative, statistical, and analytical techniques to support Retail AIRB credit risk modelling and capital management within a Financial Institution. Contributes to the development, maintenance, and monitoring of AIRB models and related analytics used for regulatory capital, stress testing, and risk management decision‑making.

Through quantitative analysis and modelling, supports identification of key risk drivers and sensitivities relevant to portfolio performance, capital adequacy, and adverse scenarios. Conducts research and builds analytical tools using data to support scenario analysis, capital impact assessment, pricing, and risk-based decisioning.

*This is a Hybrid role requiring 3 days a week in the Toronto office subject to change.

Key Accountabilities

• Supports the development, implementation, and maintenance of Retail AIRB models, including PD, LGD, EAD, and related components, in line with regulatory and internal standards.
• Performs quantitative analysis to support regulatory capital, stress testing, and scenario analysis for retail credit portfolios.
• Develops and maintains analytical tools and workflows using Python and SAS to support model development, monitoring, and reporting.
• Conducts portfolio analysis to identify emerging risks, key drivers, and trends; supports ongoing model performance monitoring and diagnostics.
• Assists in assessing model limitations, assumptions, and uncertainty, and supports remediation activities where required.
• Applies knowledge of risk assessment, internal controls, and compliance requirements (e.g., OSFI AIRB expectations, model governance).
• Supports identification and evaluation of risk mitigation strategies and contributes analytical insights to business and risk partners.
• Documents methodologies, data flows, systems, and processes to support model governance, audit, and regulatory reviews.
• Provides quantitative and analytical support to senior analysts, managers, and functional leads on assigned initiatives.
• Exercises judgment to analyze and resolve problems within established frameworks and policies.
• Works independently on well‑defined tasks and contributes to non‑routine analytical assignments under guidance.

Scope & Focus

• Primary focus on Retail portfolios within the AIRB framework.
• Work is typically scoped to a business or risk group, with contributions to broader enterprise initiatives as required.
• Role requires collaboration across Risk, Finance, and Data teams within a Financial Institution.

Qualifications

Education & Experience

• Typically 3–5 years of relevant experience in quantitative risk, credit risk modelling, or analytics within a Financial Institution.
• Post‑secondary degree in a quantitative field (e.g., Mathematics, Statistics, Economics, Finance, Engineering, Data Science), or equivalent combination of education and experience.

Foundational Proficiency

• Regulatory capital concepts and stress testing.
• Retail credit risk fundamentals.
• Compliance and regulatory awareness (AIRB context).
• Learning agility and systems thinking.

Intermediate Proficiency

• Retail AIRB modelling concepts (PD, LGD, EAD).
• Model risk management and documentation.
• Data wrangling, preprocessing, and validation.
• Data visualization and analytical storytelling.
• Critical thinking, problem solving, and data‑driven decision making.
• Effective verbal and written communication.
• Collaboration and teamwork.

Advanced / Technical Proficiency

• Quantitative financial and statistical modelling.
• Programming in Python and SAS for data analysis and modelling.
• Strong computational thinking and analytical skills.
• Experience working with large, structured risk and finance datasets.

*This is a Hybrid role requiring 3 days a week in the Toronto office subject to change.

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 https://jobs.bmo.com/ca/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. 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.