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BMO Financial Group Senior Analyst - U.S. Risk Management (ALLL/PCL - Reporting) in Chicago, Illinois

Address:

111 W Monroe - 115 S LaSalle

Job Family Group:

Audit, Risk & Compliance

Our Risk Management team is hiring for a Senior Analyst. Our team supports the requirements of the U.S. Allowance for Loan & Lease Losses (ALLL) and Provision for Credit Losses (PCL) monthly financial close and reporting activities, internal and external audits, and purchased portfolio activities.

In this role, you will get the opportunity to assist the team and processes support the assessment, consolidation, and reporting of the ALLL and PCL. You will also get to provide analysis supporting a reserve that is adequate to absorb inherent losses associated with all credit risk, and be in accordance with respective accounting standards and regulatory guidelines. The role is ideal for someone who wants to participate in the monthly/quarterly quantification and reporting of ALLL and PCL, and month-end closing activities of accounts.

Provides oversight, monitoring and reporting on credit risk for a designated portfolio. Develops and monitors the credit risk management framework that includes the governance framework & practices leveraged across BMO to manage credit risks. Provides policies & standards, methodologies and controls that increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance and identification of action plans.

  • Acts as a trusted advisor to assigned business/group.

  • Guides/assists in the identification and classification of issues; recommends action plans.

  • Influences and negotiates to achieve business objectives.

  • Recommends and implements solutions based on analysis of issues and implications for the business.

  • Assists in the development of strategic plans.

  • Identifies emerging issues and trends to inform decision-making.

  • Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.

  • Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.

  • Helps determine business priorities and best sequence for execution of business/group strategy.

  • Conducts independent analysis and assessment to resolve strategic issues.

  • Leads the development and maintenance of the governance system and framework.

  • Ensures alignment between stakeholders.

  • Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.

  • Breaks down strategic problems, and analyses data and information to provide insights and recommendations.

  • Manages databases and provides support for analysis, forecasting and/or data visualization, ensuring adherence with data governance standards.

  • Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.

  • Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.

  • Leads and integrates the monitoring, measurement & reporting on the status of the credit risk governance program to internal & external stakeholders.

  • Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.

  • May provide specialized support for other internal and external regulatory requirements.

  • Provides input into the planning and implementation of ongoing operational programs in support of the credit risk framework.

  • Leads/participates in the design, implementation and management of core business/group processes.

  • Identifies, develops and administers credit risk control framework activities for adherence to all policies, procedures and established processes; documents and reports results of independent risk assessments on an individual and portfolio basis.

  • Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.

  • Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.

  • Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures.

  • Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.

  • Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.

  • Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.

  • Builds effective relationships with internal/external stakeholders.

  • Analyzes data and information to provide insights and recommendations. E.g. risk trends in key sectors, geographies or LOBs.

  • Monitors and tracks performance; addresses any issues.

  • Coordinates and monitors the review and sign-off of regulatory reporting and attestations.

  • Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.

  • Provides specialized consulting, analytical and technical support.

  • Exercises judgment to identify, diagnose, and solve problems within given rules.

  • Works independently and regularly handles non-routine situations.

  • Broader work or accountabilities may be assigned as needed.

Qualifications:

  • Strong familiarity with U.S. GAAP; knowledge of ALLL/PCL purchase accounting treatment for purchased portfolios, an asset.

  • E xperience in areas such as financial reporting, risk reporting, portfolio management, credit analysis, finance/accounting, management & regulatory reporting, preferred.

  • Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

  • Proficient in data management and reporting tools strongly desired: Essbase, SQL, SAS, Word, Excel, Power Point, Access.

  • In-depth knowledge and understanding of credit risk management practices.

  • In-depth knowledge of regulatory requirements and legal documentation.

  • In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.

  • Deep knowledge and technical proficiency gained through extensive education and business experience.

  • Verbal & written communication skills - In-depth.

  • Collaboration & team skills - In-depth.

  • Analytical and problem solving skills - In-depth.

  • Influence skills - In-depth.

  • Data driven decision making - In-depth.

We’re here to help

At BMO Harris Bank 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 Harris Bank 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.bmoharris.com.

BMO Harris Bank 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. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.

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