Job Information
BMO Financial Group Senior Manager, North American Business Banking Credit Risk Policy and Oversight in Chicago, Illinois
The Senior Manager, North American Business Banking Credit Risk Policy and Oversight is accountable for developing and managing the Business Banking segment’s credit risk management policies and for developing and managing Credit Risk Management’s oversight framework for the line of business as the second line of defense.
This role is focused on three primary accountabilities, namely Credit risk policy, Line of business oversight Advising risk and business colleagues on decisions and controls.
Core responsibilities:
Credit risk policy
Develop, draft and manage policy outlining the bank’s credit risk framework for lending in the Business Banking segment (includes governing principles, processes, roles and responsibilities and monitoring and reporting requirements)
Develop and manage the credit qualification policy for all roles within Business Banking
Provide oversight (review, input and approval) for all line of business created policies, financing guidelines, industry and franchise programs and operating procedures that outline the segment’s risk appetite, credit requirements and underwriting standards
Proactively identify and address gaps and/or required changes in policies and procedures
Build and maintain expertise on laws, regulations and market best practices related to small business lending and proactively identify and address emerging issues and trends that warrant changes to policies or procedures
Act as the principal subject matter expert on all credit risk related policy matters for colleagues in Risk Management, the line of business and other stakeholders
Provides subject matter expertise in the analysis, development, approval process, issuance and communication of Risk policy frameworks in alignment with standards. Writes, publishes and maintains policy documentation to achieve the desired business results and support corporate, compliance and/or regulatory requirements. Includes guidelines, standards, directives, operating procedures, and related documentation.
Provides strategic input into business decisions as a trusted advisor.
Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
Acts as a subject matter expert on relevant regulations and policies.
May network with industry contacts to gain competitive insights and best practices.
Influences and negotiates to achieve business objectives.
Identifies emerging issues and trends to inform decision-making.
Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
Analyzes the impact of projects related to compliance, transformation, system upgrades etc. on policies and procedures. Assesses and reports the impact of changes to stakeholders.
Acts as the prime subject matter expert for internal/external stakeholders.
Designs and produces regular and ad-hoc reports, and dashboards.
Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
Collaborates across BMO to develop communications strategies and ensure consistency of messaging, in order to positively influence or change behaviour.
Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
Oversees the design, development, and implementation of tools and training required to deliver business results.
Creates, implements and sustains the guidelines, standard, operating procedures and other documentation.
Initiates and coordinates review processes among stakeholders.
Identifies and eliminates gaps in current state of policies and procedural documentation.
Reviews documentation on a timely basis to ensure they are up to date, accurate and complete.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Builds effective relationships with internal/external stakeholders.
Ensures alignment between stakeholders.
Monitors and tracks performance, and addresses any issues.
Designs and produces regular and ad-hoc reports, and dashboards.
Identifies business needs, designs/develops tools and training programs; may include delivery of training to audiences.
Employs systems (e.g. customized exception reports, tracking reports etc.) to manage information.
Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
Implements changes in response to shifting trends.
Broader work or accountabilities may be assigned as needed. Qualifications:
Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Degree or certification in technical writing preferred.
In-depth / expert knowledge of risk management, audit, compliance, and / or governance policy management.
In-depth / expert knowledge of business and regulatory environment.
Excel and spreadsheet analysis – In-depth.
Project management skills - Expert.
Seasoned professional with a combination of education, experience and industry knowledge.
Verbal & written communication skills - In-depth / Expert.
Analytical and problem solving skills - In-depth / Expert.
Influence skills - In-depth / Expert.
Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
Able to manage ambiguity.
Data driven decision making - In-depth / Expert.
Salary:
$100,000.00 - $185,500.00
Pay Type:
Salaried
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
We’re here to help
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/us/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. BMO 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.
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.