Application Deadline: 08/25/2026 Address: 151 W 42nd Street Job Family Group: Audit, Risk & Compliance Performs validation of models and assesses model risk to confirm model appropriateness and capability for a designated portfolio. Provides effective challenge during model development and communicates decisions regarding model use to the business/management to ensure transparency and understanding of models and model risks. Assesses model’s capabilities, stress points and limitations; assesses the associated model risk and the controls in place to mitigate identified risks. Key Responsibilities: Develops validation strategies and plans to ensure appropriate type and level of validation of models is carried out. Independently validates / tests models and their associated assumptions, benchmarks, and supporting documentation against model validation process, standards, guidelines and principles, which includes: Lead model validation efforts across various volatility regimes, including stochastic volatility, stochastic-local volatility, and jumpdiffusion frameworks. Develop, enhance, and maintain independent benchmark models for exotic derivatives (e.g., autocallables, barriers, quantos, range accrual, variance products, hybrids). Analyze complex payoff structures and produce accurate pricing, Greeks, and scenario analyses. Review and validate model calibration routines to vol surfaces, correlation structures, and multiasset dynamics, and assess the data for model development as well as inputs to the model; Design and implement scalable testing libraries using C++, Python, or similar highperformance languages. Compares validation results with model developer results for replicability. Measures the effectiveness of validation and monitoring framework; recommends changes as required. Identifies deficiencies, conditions for model use, recommends changes, and escalates as required; quantifies model risks, documents outcomes and communicates with stakeholders. (detailed work) Identifies where corrective actions are required and escalates per guidelines; monitors and ensures corrective action is taken. Optimize numerical methods (e.g., PDE solvers, Monte Carlo engines, adjoint methods) to improve performance and stability. Coordinates and monitors the review and sign-off of model validation reporting including model inventory and model inventory attestations. Mentor junior quants and contribute to longterm quantitative research initiatives. Collaborate closely with trading desks to deliver strategic analytics, improve risk metrics, and support trade ideation. Provides technical advice and guidance to assigned business/group on implementation of the model validation framework, and resolution of model risk issues. Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group. Represents the model validation program / portfolio for internal/external regulatory audits and/or examinations. Qualifications Advanced degree (PhD or Masters) in quantitative fields such as mathematics, financial engineering, physics, or computer science. 15+ years of handson experience in equity derivatives model validation or frontoffice quantitative research. Deep knowledge of stochastic calculus, probability theory, and numerical analysis. Strong programming skills in C++ and Python; experience with distributed computing a plus. Verbal & written communication skills - In-depth / Expert. Analytical and problem solving skills - In-depth / Expert. Familiarity with regulatory frameworks (e.g., FRTB, model risk governance) in a derivatives context. Salary: $150,700.00 - $261,800.00 Pay Type: Salaried The above represents BMO Financial Groups 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 Groups expected target for the first year in this position. BMO Financial Groups 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: