BMO Financial Group Specialist III-IC Liquidity and Funding in Chicago, Illinois
Duties: Supports the build, management, and execution of an enterprise-wide liquidity and funding management framework to optimize risks and maximize risk-adjusted profitability. Provides expertise for the measurement, analysis, and oversight of the Bank’s global regulatory and internal funding risks arising from business/group business activities. In partnership with the assigned business/portfolio, develops a solid understanding of the business strategies and in-depth product, market, and regulatory knowledge across all retail, commercial, and trading products. Advises on liquidity and funding risk mitigation, product development, and optimization. Supports the development of liquidity Bank’s risk measurement and reporting processes for liquidity and funding management. Recommends and implements liquidity and funding solutions based on analysis of issues and implications for the business. Supports development and execution of Enterprise’s liquidity and funding risk management strategy for executive and Board approval in collaboration with Market Risk Management to recommend liquidity and funding-related risk appetite limits. Develops processes to identify, measure, and manage liquidity and funding risks in conjunction with Market Risk Management, businesses, and other Finance areas. Acts as a trusted advisor to assigned business/group on liquidity and funding matters including recovery and resolution planning. Develops and maintains the model and assumption framework used to measure liquidity and funding risk and recommends changes (e.g. regularly reviews liquidity objectives, positions and assumptions, including for new business transactions). Identifies emerging issues and trends to inform decision-making and understand risk drivers. Recommends and implements solutions based on risk assessments, analysis of issues, and implications for the business. Acts as liaison between stakeholders including industry specialty groups and regulators to align agendas, ensure a clear understanding of the business context, and advocate the Bank’s position on market or regulatory developments. Monitors performance of liquidity stress testing processes and addresses any issues (e.g. enterprise-wide stress testing, OSFI macro-stress testing, ad-hoc testing). Provides input into the planning and implementation of liquidity and funding risk modeling activities and programs. Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting. Gathers and formats data into regular and ad-hoc reports, and dashboards. Monitors and tracks balance sheet usage, and addresses any issues. Designs and produces regular and ad-hoc reports, and dashboards. Analyzes data and information to provide insights into business product pricing and funds transfer pricing processes. Supports development and execution of liquidity and funding-related strategic initiatives in collaboration with internal and external stakeholders. 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.
Requirements: Bachelor's degree in Math, Finance or related field (willing to accept foreign education equivalent) plus four (4) years of experience enterprise-wide risk management, quantitative methodologies and banking products and their risk characteristics. Specific skills/other requirements – Must also possess the following (quantitative experience requirements not applicable to this section): Experience must include the following: Measuring, analyzing, and overseeing of U.S. and Canadian risk management regulations, per OSFI and Fed home/host jurisdiction guidelines; measuring and analyzing line of business structural market and liquidity risk positions and their drivers; performing related stress testing; and providing product pricing and liquidity transfer insights; creating structural balance sheets, including their data requirements and assumptions framework for risk measurement and modeling, accurate segmentation and reporting, and regulatory applications; conducting reviews of modelling assumptions, their validation and ongoing performance. Creating technical procedures and methodology that support operation of balance sheet risk management; interacting on a cross-functional basis with other departments and providing analysis and recommendations while monitoring related regulatory developments and requirements; performing quantitative analysis and reporting for stakeholder and executive audiences, to track key changes over time; working with regulatory examinations and other requirements by providing information and analysis as required; supplying data to risk, auditors, and regulators in response to inquiries into company’s risk reporting measures and assumptions; and creating and maintaining production reports on key metrics for risk management and regulatory requirements. Identify trends to inform decision-making and understand risk drivers.
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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.
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