BMO Financial Group Senior Manager, Business Banking Credit Initiatives in Toronto, Ontario
55 Bloor Street West
Job Family Group:
Audit, Risk & Compliance
The Senior Manager, Business Banking Credit Initiatives is accountable to lead credit risk initiatives for Business Banking and provide oversight to line of business initiatives to ensure credit risk is properly managed. She/He is a key member of the agile team that continues to transform BMO’s Business Banking lending processes through BMO Business Xpress (BBX), our market leading platform for small business loans. That work aims to deliver the best possible customer and employee experience by streamlining and automating the lending process while ensuring BMO continues to make good lending decisions with strong risk controls. He/She will also lead a wide variety of credit risk initiatives outside of BBX.
The role has five related elements: 1) Advising the line of business on approach to managing credit risk; 2) Providing effective challenge to ensure business initiatives are effectively managing credit risk; 3) Developing strong oversight processes and controls to ensure the business is operating within its stated risk appetite; 4) Leading credit risk initiatives for Business Banking, and 5) Informing Business Banking credit risk policy and automated lending decision strategies.
1) Advise the line of business on approach to managing credit risk
Provide guidance and advice to the line of business on how to best achieve business objectives in a way that effectively manages credit risk within risk appetite and optimizes financial returns on the risk the business takes (i.e. risk/return)
Proactively identify emerging issues and trends to inform decision making and proper prioritization of initiatives
Recommend business priorities to optimize risk/return, advise on resource requirements and develop roadmap for strategic execution.
Maintain deep subject matter expertise on Business Banking credit risk, including business dynamics and priorities, internal practices and policies, industry best practices and innovation, regulatory expectations, and how to leverage data and analytics to drive insights.
2) Provide effective challenge to ensure business initiatives effectively manage credit risk
Deeply understand BMO’s risk management framework, credit risk policies and procedures
Deeply understand business practices, priorities, risk appetite and risk/return dynamics
Critically evaluate business proposals to ensure risks are well understood and effectively managed within risk appetite by asking the right questions and analyzing data
Shape business proposals as needed to effectively manage credit risk within appetite and optimize risk return through collaboration and influence, and by imposing mandatory conditions for approval where required
3) Develop strong oversight processes and controls to ensure the business is operating within its stated risk appetite
Develop and/or adjust process controls to ensure business practices are operating as intended and within risk appetite
Design and implement effective oversight/governance frameworks to monitor outcomes of initiatives and any resulting changes to strategies, policies or processes/controls over time
Establish requirements for ongoing and ad-hoc reporting to support oversight framework
4) Lead credit risk initiatives for Business Banking
Lead credit risk initiatives across a range of areas including, but not limited to:
Evaluating and implementing new sources of data to use in lending decisions;
Implementing new automated lending strategies;
Revising customer account management practices,
Adjusting adjudication and capital models
Drive the strategic decision making, design, and implementation for these initiatives
Lead change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
5) Inform Business Banking credit risk policy and automated lending decision strategies
Collaborate with colleagues within Business Banking Credit Risk Management and across the organization to inform changes to Business Banking lending policy to streamline processes, ensure effective lending decisions and risk controls, and optimize risk return
Collaborate with colleagues within Business Banking Credit Risk Management and across the organization to inform the design of automated lending decision strategies that optimize risk/return
KNOWLEDGE AND SKILLS
Knowledge & Experience
Strong track record delivering results in ambiguous and challenging situations
Seasoned professional with combination of education, experience and industry knowledge
7+ years experience in risk management and/or business banking
In-depth knowledge and understanding of credit risk management practices
In-depth knowledge & experience with risk policy and quality control/testing frameworks
Expertise in Business Banking is preferred
Expertise in regulatory requirements and legal documentation is an asset
BMO organizational knowledge is an asset
Minimum undergraduate university degree, an MBA or other post-graduate degree, or equivalent industry related experience preferred
Proven ability to establish conducive working relationships with colleagues across Risk Management, the Line of Business and external partners
Proven ability to influence without authority, build alignment and drive change
Strong leadership skills
Excellent communication skills (oral and written) with ability to frame and effectively communicate complex problems
Proven ability to apply expertise and creativity to solve complex problems
Ability to assess situations from multiple angles, consider potential risks and ask the right questions
Strong financial, quantitative, and analytic skills to make data driven decisions
Excellent business acumen
Team-oriented, collaborative and flexible
Able to think like a customer and design the right customer experience
Strong time management and project management skills
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 www.jobs.bmo.ca/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 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.