BMO Financial Group Credit Officer in Montreal, Quebec
800 rue de la Gauchetiere O
Job Family Group:
Audit, Risk & Compliance
The Credit Officer adjudicates routine to moderately complex credit applications for all Retail Lending Products originating from all Canadian P&C and Private Banking channels personal loans and mortgages within assigned credit limits or makes credit recommendations and escalates as required. The Credit Officer ensures the safety of the bank’s funds through the use of sound judgement and adherence to risk policy, taking a balanced approach to asset growth and portfolio quality.In support of the Senior Manager, Consumer Credit, the Senior Credit Officer role may provide day-to-day operational coaching to other Credit Officers, acting as a go-to person for the team, and assist with department projects as assigned. The coaching role can extend to off-site participation with sales & service channel staff. Additionally, the Senior Credit Officer completes escalated credit adjudication for loan products, transactions and applications originating from Retail Dealer Finance, BMO Harris Private Banking and Client Contact Centre channels and lines of business.Key AccountabilitiesA. Credit Adjudication
Adjudicates credit transactions/applications within assigned credit limits plus reviews and recommends applications over their UDL to the Credit Manager within established turnaround times, including analysis and evaluation of the technical aspects (e.g., financial analysis, credit terms, structure and collateral) to ensure the deal is within Bank policy and standards.
Provides adjudication on credit transactions/applications and communicate effectively with sales & service employees to ensure rationale and decision is clearly understood.
Communicates with other Credit Officers about specific credit applications and transactions to seek further information and modification, discuss appropriate structuring for the deal, and criteria required for concurrence.
Proactively identifies and advises sales and service employees of additional sales opportunities (cross-selling and/or a better solution to meet the customer’s needs) and/or removal of terms (security, guarantees, monitoring requirements, etc.).
Provides approval for exceptions according to established policy and standards
Adjudicates elevated credit transactions/applications in accordance with Bank policy and standards within the established turnaround times
B. Risk Management and Control
Maintains an awareness of all relevant credit policies and directives and keep informed of policy and directive changes to ensure decisions are made in accordance with all current requirements
Based on an understanding of the current internal and external environment, provides feedback and/or input into proposed changes in directives and policies
Channels feedback on existing policies and directives (e.g. unclear policies, interpretation issues, policies impacting market competitiveness, etc.) to the Senior Manager as required
Maintains the confidentiality of both consumer and BMO information to protect the customer and BMO so to ensure compliance with Policies and Procedures
Provides coaching to sales & service employees through dialogue and communication on a transactional basis to increase awareness of risk, policy, and knowledge of structuring deals
Shares knowledge of credit with sales & service employees in a coaching capacity through providing ongoing credit training and support, as assigned.
Provides guidance and operational coaching to sales and service employees and Credit employees regarding credit standards, polices, objectives, and requirements.
Participates in seminars for groups of employees for skills gaps or trends to enhance skill knowledge from a technical, behavioural and philosophic point of view.
D. Relationship Management
Maintains ongoing relationship and dialogue with business and Credit roles to ensure a collaborative working relationship and that business needs are being met
Shares credit knowledge and builds collaborative working relationships by attending sales & service meetings when required
Attends sales & service meetings to gain a better understanding of the various channel needs and maintains knowledge of the sales pipeline
Knowledge & Skills • Basic to working knowledge of all personal lending products and services • Basic to working knowledge of the Banks lending philosophies, policies and procedures • Introductory to basic knowledge of everyday banking products, business banking lending products, mutual fund products, RRSP’s and RESP’s, term investment products, direct brokerage (Investorline), full service brokerage (Nesbitt Burns), Direct Banking • Bilingual (French and English) • Basic to working knowledge of a variety of BMO systems, host systems and applications
· 1-3 years’ experience in a Credit functions in financial services.
· 3-5 years consumer lending experience, holding minimum ALD qualifications in branch or CCC.
. Working towards or obtained a Bank Credit qualification to a maximum of $1MM consumer/ $1MM mortgage.Credit Limits are individually authorized through the qualifications process.
· Exercises judgment on routine and some moderately complex decisions including policy exceptions.
. Elevates matters that fall outside existing practice standards and procedures or experience level.
· Identifies and independently resolves routine issues as well as non-routine issues of limited complexity.
· Proposes solutions to moderately complex issues.
· Determines and applies courses of action within procedural and policy guidelines and standards.
. Supports key decision making by analyzing data, and providing information and supporting rationale for credit transactions.
· Maintains working relationships with internal relationships and team members.
· Ability to negotiate with other stakeholders to obtain additional information and agree on outcomes.
· Strong written and verbal communication skills.
. Demonstrate Being BMO in all interactions.
· Decisions all lending transactions
. Bilingual (French and English)
. Decisions daily 17-19 transactions, minimizing re-routes wherever possible.
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/ca/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. 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.