BMO Financial Group Head, North American Portfolio Insights & Provisioning in Toronto, Ontario
55 Bloor Street West
Job Family Group:
Audit, Risk & Compliance
The Head, North American Portfolio Insights & Provisioning is accountable for informing BMO senior executive on relevant portfolio, product and consumer insights for Consumer, Small Business and Wealth lending. The incumbent will be directly accountable for
(i) earnings and other investor forum portfolio insights;
(ii) end to end preparation for rating agency discussions;
(iii) provisioning oversight, rationale and support;
(iv) peer benchmarking on consumer credit and provisioning trends;
(v) and other ad hoc analytics and exercises for senior leadership across risk management. The team will include 18 FTEs across provisioning, reporting and analytics (5 dotted line in the US) who will engage with key stakeholders.
The role will succinctly communicate portfolio insights for both Canada and the US to senior executives informed through deep analytics and reporting across the portfolios, as well as a thru a deep understanding of the economic environment, regulatory changes and risks including evolving consumer behaviour. In addition, the role supports key regulatory and executive reports in a multitude of forums including for the regulator (OSFI), the Board, Executive Risk Steering Committees as well as informational material for the CRO, Head of North American Retail Credit Risk & CRO Canada P&C and Wealth Management and Heads of US and Canada Retail Credit Risk. This role also provides back-up information materials for executives to prepare for regulatory, rating agency, audit and other meetings.
On provisioning, the incumbent will own the end to end provision process in Canada while providing oversight and aligning best practices for the US portfolios. They will develop and maintain an environment to democratize the use of North American consumer risk data to enable informed decisions across stakeholders including maintaining the CRO Dashboard. The incumbent will also identify and manage new modelling tools and processes to ensure that provisioning is accurate and robust through economic cycles.
Specifically, for Canada, the incumbent will support the model owner (Head of Canadian Consumer Credit Deputy CRO) in the evaluation and use of Basel and IFRS9 models leveraged for provisioning and capital as the point of contact for the modelling team supporting Canadian Consumer Credit. This role partners with the modeling team in the development of models to support business needs through appropriate selection of segmentation, data, time period, target variable, etc. and provides oversight and challenge of model results including for all Canadian retail stress testing.
This role requires strong organizational, people leadership and communication skills as it is required to lead numerous risk-sponsored initiatives in North American customer analytics and report automation while concurrently supporting and overseeing complex initiatives sponsored by senior stakeholders as required.
Portfolio Insights Supporting Senior Risk Executives
Communicates abstract concepts in simple terms to inform Senior Executives on portfolio performance and spotlight items.
Requires a thorough understanding of the economic environment, regulatory changes and risks including evolving consumer behaviors.
Breaks down strategic problems, and analyses data and information to provide customer insights and recommendations.
Analyzes data and information to provide insights and recommendations. E.g. risk trends in key sectors, geographies or Lines of Businesses.
Thinks creatively to anticipate trends or changes in trends, addresses unique or ambiguous situations and can find solutions to multiple, interdependent, complex problems.
Provisioning and Financial Modelling
Responsible for North America’s PCL forecast which is updated on a bi-weekly basis and recommended to the to the Heads of Canada and US Consumer Credit as well as the North American Retail Credit and Chief Risk Officer, Canadian P&C Banking and Wealth.
The incumbent will set the strategic direction for the evolution of provisioning capabilities informed by a thorough understanding of internal and external opportunities including emerging / leading edge opportunities in data, modeling and automation.
Responsible for quarterly KPMG reporting on Senior Credit Officer “Expert Credit Judgment” rationale covering consumer behaviors, the economic environment and credit loss outlook.
Leads and integrates the monitoring, measurement & reporting on the status of the credit risk governance program to internal & external stakeholders.
Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
Designs and produces regular and ad-hoc reports, and dashboards.
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.
Responsible for summary documentation as required by the North American Retail Credit and Chief Risk Officer, Canadian P&C Banking and Wealth and CRO.
Regulatory Reporting & Process Management
Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
Acts as the prime contact for regulatory data requests. Manages the review and sign-off process for relevant regulatory reporting.
Represents data / governance structure during internal/external regulatory audits and/or examinations.
May provide specialized support for other internal and external regulatory requirements.
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
Support Canadian Model Owner
Act as point of contact for the modeling team supporting Canadian Consumer Credit for Basel and IFRS9 models.
Maintain a thorough understanding of BMO’s models, working closely with the Risk Methodology and Analytics Group to implement new or refine / modify models, in conjunction with business rules, within the credit strategies.
Provide input into new model development including segmentation approach, data usage, modeling approach; participating in such process to provide business knowledge and experience in modeling decisions to ensure that model is fit for its intended use.
Leads a high-performance culture ensuring behaviors within the team are congruent with BMO’s Being BMO model.
Lead and inspire a team of highly skilled risk professionals to ensure that the team is aligned with the bank’s and ERPM’s strategic objective.
Attracts, retains, and enables the career development of top talent.
Improves team performance, recognizes and rewards performance, coaches’ employees, supports their development, and manages poor performance.
Holds regular two-way meetings with direct reports to solicit their views on the working environment, potential changes affecting their work, continuous improvement opportunities and the creation and implementation of training and development plans.
Ensuring the effective implementation of Bank initiatives and programs through the establishment of appropriate context and setting of direction for direct reports by providing relevant information and establishing goals in the Bank’s performance management system.
Master’s degree (preferred) in economics or finance or undergraduate degree and designations such as a Chartered Financial Analyst (CFA) or Financial Risk Manager (FRM) or MBA
Minimum of 10 years financial work experience, with at least 5 years of managerial experience
Retail Banking knowledge, preferably Credit Risk with involvement in Investor Communications
Experience with financial planning/reporting/investor relations a plus
Strong Communication and Presentation Skills
Teach Coaching/ Leadership
Capital Management (Basel/AIRB) – deemed an asset
Financial & Profitability knowledge
Product knowledge and product management
Provisioning and reserving experience would be deemed an asset
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.