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BMO Financial Group Manager, Policy Strategy in Toronto, Ontario

Address:

55 Bloor Street West

Job Family Group:

Customer Solutions

Thank you for your interest in BMO Financial Group. We are currently working towards providing a better candidate experience by including all of our job descriptions in both English and French. In the meantime, if this role is located in Quebec and/or New Brunswick please reference the French job description available below the English version. Otherwise please see the job description below in English as per federal language requirements.

Nous vous remercions pour votre intérêt à l'égard de BMO Groupe financier. Nous travaillons actuellement à offrir une meilleure expérience aux candidats en publiant toutes nos descriptions de poste en français et en anglais. Entre-temps, si ce poste est affiché au Québec ou au Nouveau-Brunswick, veuillez consulter la description de poste en français disponible sous la version anglaise. Autrement, veuillez consulter la description de poste ci-dessous en anglais, conformément aux exigences fédérales en matière de langues.

The Manager, Lending Policy Strategy is accountable for the development and maintenance of market relevant Product Policies & Programs with the view to simplify and balance risk with opportunity taking into consideration our customer needs, regulatory requirements, and the competitive landscape. Within the Banks policy framework, this role will create and apply new tools, policies and processes that provide differentiation and a competitive advantage for the Bank. .

The mandate covers all aspects of the retail lending control framework for all personal lending activities related to real estate secured lending, unsecured and non-real estate secured lending products & programs. This includes first level management of exceptions to policy in a manner that ensures an appropriate risk/return.

As a subject matter expert, the Manager, Policy Strategy will participate across multiple initiatives and play a key role in providing product expertise and opinion to identify upstream and downstream impacts to business, employee and customer as well as ensure alignment to product strategy & risk appetite. Participation may include support with analysis and development of responses and implementation of remediation plans on internal/external audit and regulatory examinations.

Key Accountabilities

70% Policies/Processes

15% Compliance

15% Risk Management and Control

ACCOUNTABILITIES

A. Policies/Processes

Helps determine business priorities and best sequence for execution of business/group strategy

Leads/participates in the design, implementation and management of core business/group policies, processes & programs to optimize risk/return, including leading the development of tools, and methods to support the achievement of the business agenda.

Researches existing or emerging industry/regulatory requirements & related best practices to assist and develops recommendations for changes/enhancements.

Maintain market knowledge through networking with other financial institution to ensure BMO policies are competitive (at parity with industry where it is not industry leading).

Conducts independent analysis of issues and the implications for the business and recommends solutions based on an understanding of the business strategy and stakeholder needs.

Focus on rationalizing/simplifying our current lending policies through maintaining a working knowledge of other financial institutions policies by establishing networks with other financial institutions policy teams, and developing lending employee panels to ensure we remain competitive in the current marketplace.

Provide subject matter expertise to Technology and Operations and Credit System Management and STRATA teams to design and implement end-to-end product processes and documents that ensure the effective and efficient delivery of products.

Builds effective relationships with internal/external stakeholders to influence and negotiate to achieve business objectives and ensures alignment between stakeholders.

Leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives to positively influence or change behaviour

Works independently and regularly handles non-routine situations.

Broader work or accountabilities may be assigned as needed.

B. Compliance

First level escalation for requested exceptions to policies by branches, Mortgage Specialists and North American Contact Centre to ensure risk/return is acceptable and a high level of positive customer service is maintained.

Provide subject matter expertise on all product related initiatives involving regulatory requirements, including recommending changes to policies to support overall business goals.

Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.

Represent product policy and provides support during internal/external regulatory audits and/or examinations.

Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.

C. Risk Management and Control

Ensure the interests of P&BB Canada are effectively represented on current risk profiles and practices.

Act as broker between Product teams and P&C Risk to ensure all concerns, issued and opportunities are identified and addressed.

Exercises judgment to identify, diagnose, and solve problems within given rules.

Guides/assists in the identification and classification of emerging issues and trends to inform decision making

Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary

Identifies, develops and administers control framework activities for adherence to all policies, procedures and established processes;

Provides input into the planning and implementation of ongoing operational programs in support of the retail control framework

Authorities

Scope & Impact

Authority to approve policy exceptions, respecting the Banks risk appetite.

This job contributes to BMO Financial Group's overall business results by managing the day to day operations .

Desired Behaviours

Key Performance Indicators

Ability to multi-task and manage multiple priorities. Strong cross-functional collaboration and relationship building skills.

Cross Functional Relationships

Personal Lending and RESL Policy and Oversight

Personal & Business Banking Operational Risk

Legal & Regulatory Compliance

Business Process & Digitization, Personal, Business Banking, Payments & Collection Operations (PBPCO), and Specialized Sales Program Office

Technology and Operations

Consumer Credit Department

Customer Experience and Workforce Effectiveness (CEWE)

Knowledge & Skills

Knowledge:

Graduate degree or equivalent plus 8 - 10 years experience within the financial/technology sector

Knowledge of lending and credit risk and the associated processes and policies including Home Financing Fulfillment practices

Skills:

Analytical and problem solving skills (In-depth)

Knowledge of industry practice (Working)

Change Leadership (Working)

Process Co-ordination and Management (Working)

Knowledge of lending systems CCAPS, CFS (In-depth)

Knowledge of product systems MDIF, NCCS, MECH (basic)

Risk Management (Working)

Deep knowledge and technical proficiency gained through extensive education and business experience

Influence skills (In-depth)

Data driven decision making (Working)

Customer Conversations (In-depth)

Verbal & written communications skills (In-depth)

Project Management (basic)

May require flexibility in scheduling to accommodate branch hours.

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.

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