BMO Financial Group Manager, Credit Optimization Strategy & Analytics in Toronto, Ontario
55 Bloor Street West
Job Family Group:
Data Analytics & Reporting
The Manager, Credit Optimization Strategy & Analytics is accountable to drive the development and ongoing optimization of Credit Card Limit Management & Pricing Strategies. The individual drives business analysis and strategies to generate revenue and improve the Credit Card client experience. This role works collaboratively with partners across Personal and Commercial Banking, Credit Risk, Technology & Operations and the broader Analytics Centre of Excellence team.The incumbent is responsible for developing comprehensive and integrated credit limit optimization strategies through the use of advanced analytical techniques and tools for the purpose of maximizing customer revenue within acceptable risk parameters and aligned with our customer experience vision.What Does Your Typical Day Look LikeThe Manager, Credit Optimization Strategy & Analytics typically spends about half their time doing independent analytical work, with support from a best-in-class Analytics Centre of Excellence team, and the remaining time communicating with business/risk partners to formulate business strategies, and collaborating with campaign partners to optimize campaign modelling, delivery and measurement.Key AccountabilitiesStrategy Insights and Planning
Develop credit limit & pricing strategies to drive revenue and customer satisfaction to deliver business results.
Develop business cases that drive incremental revenue and minimize risk and obtain buy-in and support from business partners as required.
Develop annual plans and monitor existing strategies to ensure that the estimated benefits are being realized.
Evolve from Product focused to Customer focused to ensure that overall customer experience is delivered.
Leverage market and industry best practices to proactively identify new opportunities to drive revenue and customer experience.
Data, Analytics and Insights
Extract, manipulate and analyze data from a variety of sources to formulate insightful conclusions, provide strategic recommendations, and inform management actions
Provide consultation to business partners to identify opportunities to maximize net revenue and new credit optimization opportunities through analytical insights
Collaborate with business partners to monitor the external environment to ensure limit strategies remain relevant
Engage and manage relationships and projects with external partners, where applicable
Develop and implement thorough quality assurance processes and procedures to ensure strategies implemented are successfully delivered to customers without error.
Understand Personal and Commercial retail issues from a variety of perspectives: the business reality and needs, the technical systems environment and the optimum application of data mining and modeling techniques to solve these issues.
Influencing and Relationship Management
Partner effectively across all business functions including: Technology & Operations, Channels, Credit Cards, Risk, etc. in order to ensure ongoing alignment of priorities
Lead communication effectively on complex concepts and results to a broad group of the Banks Financial Group stakeholders who are not familiar with detailed data mining methodology.
Proactively identify opportunities in the data to drive exceptional client experiences and surface areas which detract from the overall experience with recommendations to solve
Employ a customer-first mindset in the establishment of all new data and analytics processes ensuring a great customer experience
Ensure strategies and programs meet governance and risk policies and identifying opportunities and solutions for continuous improvements
Perform required regulatory & risk oversight and governance for your business group/function; identify, manage and mitigate current and emerging risks; support the development of a risk management mindset in all employees
Authorities, Scope & ImpactApproval - Authority to approve procedures and standards within the unit.Information Access - Authority to use and access confidential information related to employee information, customer information,Product and financial information.
- Direct impact / accountability to develop credit limit management strategies.
Cross Functional RelationshipsThis job requires the incumbent to interact with the following groups and/or processes in BMO and relevant external stakeholders:
Line of Business Leaders and Leadership Teams;
Analytics Centre of Excellence and all associated teams within
Technology and Operations
Canadian Personal & Business Banking Product groups
Operational Risk and Compliance
Knowledge & Skills
The successful candidate will hold a university degree in an analytical discipline such as Statistics, Mathematics, Economics, Operations Research or Engineering, with experience in database marketing analytics, preferably in credit cards, retail and commercial banking.
A demonstrated passion for bringing advanced analytics to inform marketing decisions through past results driven experience.
Expert knowledge of SAS, SQL or equivalent and familiarity working in a FICO environment as well as analytical research and experience working with large datasets.
Skilled Knowledge: Analytical Thinking; Data Mining; Statistical Analysis, Data Modeling; Problem Solving.
Strong communication, interpersonal, and team building skills.
Ability to clearly communicate results of analysis and models to both sophisticated technical experts and to diverse business partners.
Flexibility and resourcefulness to interface and collaborate with internal and external groups.
Technical experience working in analytical software, and business software (Excel, PowerPoint, Word)
This role requires the ability to work well in an extremely fast paced and constantly changing environment with competing priorities.
We’re here to helpAt 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://bmocareers.com.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 GroupServing 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.