man opening curtain to reveal something
Sergey Nivens/123RF

An executive with the Bank of Montreal (BMO) is joining the executive team at the federal banking regulator, the Office of the Superintendent of Financial Institutions (OSFI).

OSFI announced that Sanjiv Talwar, who was head of risk capital, stress testing and model development at BMO, is to become its new assistant superintendent, risk support sector.

Talwar will be joining OSFI “in the fall once arrangements have been finalized,” said Jeremy Rudin, superintendent at OSFI, in a statement. He will also be part of the regulator’s executive committee.

At BMO, Talwar “oversaw the determination of capital demand and was accountable for all risk model development and the use of stress testing within BMO and the US CCAR exercise,” Rudin said.

Talwar has also previously worked at OCBC Bank in Singapore, CIBC in Toronto, and at Commerzbank Securities in London.