Key Responsibilities 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. Develop 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: Develop, enhance, and maintain independent benchmark models for exotic equity derivatives (e.g., autocallables, barriers, quantos, range accrual, variance products, hybrids). Analyze complex payoff structures and produce accurate pricing, Greeks, and scenario analyses. Lead model validation efforts across various equity volatility regimes, including stochastic volatility, stochastic‑local volatility, and jump‑diffusion frameworks. Review and validate model calibration routines to equity vol surfaces, correlation structures, and multi‑asset 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 high‑performance languages. Compare validation results with model developer results for replicability. Measure the effectiveness of validation and monitoring framework; recommend changes as required. Identify deficiencies, conditions for model use, recommend changes, and escalates as required; quantify model risks, document outcomes and communicate with stakeholders. Identify where corrective actions are required and escalates per guidelines; monitor and ensure corrective action is taken. Optimize numerical methods (e.g., PDE solvers, Monte Carlo engines, adjoint methods) to improve performance and stability. Coordinate and monitor the review and sign‑off of model validation reporting including model inventory and model inventory attestations. Mentor junior quants and contribute to long‑term quantitative research initiatives. Collaborate closely with trading desks to deliver strategic analytics, improve risk metrics, and support trade ideation. Provide 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 Master’s) in quantitative fields such as mathematics, financial engineering, physics, or computer science. 15+ years of hands‑on experience in equity derivatives model validation or front‑office 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 $121,600.00 – $211,800.00 (base salary) This represents the compensation range for the role. Compensation may vary based on location, skills, experience, education, and qualifications. The range includes potential commission structures for full‑time positions. The base figure represents the target for the first year in the role. Benefits BMO offers health insurance, tuition reimbursement, accident insurance, life insurance, and retirement savings plans. Additional benefits may include performance bonuses, discretionary bonuses, and other rewards. EEO Statement BMO is committed to providing an inclusive, equitable, and accessible workplace. We value differences and draw strength from diverse perspectives. Accommodations can be requested at any stage of the selection process, and BMO accepts applications from individuals with differing viewpoints. #J-18808-Ljbffr