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BMO Financial Group Senior 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 Senior Manager, Policy Strategy will provide strategic direction on 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 lead a team of Policy Managers who will create and apply new tools, policies and processes that provide differentiation and competitive advantage relative to peers. This role must be able to manage 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

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 management of exception escalations in regard to policy in a manner that ensures an appropriate risk/return. The Senior Manager, Policy Strategy will participate as the subject matter expert in the development of new products and processes to meet regulatory requirements and enhance the customer experience. This position is also key compliance on standard and securitization transactions through the management of the investigation and resolution for process gaps and fulfilling audit requirements.

The incumbent will act as the Home Financing and Personal Lending subject matter expert for Business Process and Digitization as they develop and enhance end-to-end processes for both the branch and Mortgage Specialists.

As a people manager, the Senior Manager, Policy Strategy is responsible to lead, mentor, coach and develop a team of highly motivated Policy Managers,

40% A Policies/Processes

15% B Risk Management and Control

15% C Compliance

30% D Managerial Leadership & Planning

ACCOUNTABILITIES

Control Policies/Processes

  • Manage the development, enhancement and maintenance of Policies/Directives, in collaboration with Credit Risk, Operational Risk and Securitization, including credit origination, account/relationship management, regulatory requirements, documentation and all policies related to security and collateral, including the registration process in the various jurisdictions (excluding product specific collateral) to support the product process.

  • Provide subject matter expertise to Business Process & Digitization, Securitization and Personal, Business Banking, Payments & Collection Operations (PBPCO) to design and implement end-to-end product processes that ensures the effective and efficient delivery of products.

  • Second level escalation for requested exceptions to policies by Sales force to ensure risk/return is acceptable.

  • Manage and maintain policies to optimize risk/return, including leading the development of tools, methods to support the achievement of the business agenda and to ensure all regulatory requirements are met.

  • Provide oversight for team in regard to Change Management initiatives for the day-to-day operations coordinating any policy and process changes to ensure clear, concise communication.

Risk Management and Control

  • Manage and maintain an effective relationship with Credit Risk, ensuring the interests of Personal Banking Canada are effectively represented on current risk profiles and practices. Act as a broker between the Product Team and Credit Risk to ensure that all concerns, issues and opportunities are identified and addressed

  • Communicate and implement regulatory requirements on behalf of Personal Banking balancing regulatory requirements and a satisfactory customer experience.

Compliance

  • Ensure new or enhancement of policies, process and program adhere to the regulatory environment i.e., Anti-Money Laundering (AML), Department of Finance, OSFI, and Provincial Registries ensuring all regulatory requirements are met.

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

  • Lead / participate in the execution of regulatory remediation plans as required.

  • Manage and prioritize technology changes to meet regulatory requirements providing technical requirements for both CCAPS/CFS, MDIF, and Strata changes to our Technology and P&C Risk partners.

Managerial Leadership & Planning

  • Set appropriate context and establish prescribed limits for direct reports, including setting an effective framework of policies and procedures for the work in the group.

  • Establish a working relationship with direct reports to solicit their views on the working environment, potential changes affecting their work, continuous improvement opportunities, and revisions to the plan.

  • Build and sustain a team of direct reports who are capable of delivering the performance required for the group, including the coaching and creation and implementation of training and development plans.

  • Establish and optimize team integration by articulating the linkages between the accountabilities and authorities of different roles across the group and by establishing the context in which they will work collaboratively with one another.

  • Apply the Banks performance management system to direct reports, including establishing goals and objectives, assessing skilled knowledge gaps, allocating resources to achieve objectives and close gaps, assessing personal effectiveness, and reviewing and recommending base and variable pay.

  • Ensure 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, establishing goals, and setting limits with the context and prescribed limits of the Home Financing & Personal Lending group.

Planning

  • Develop, implement, review and revise a 12 year work plan within the context of a functional plan, including: vision, mission, values, operational and resource plans.

  • Establish goals, plans and assignments for each direct report to achieve the plan.

  • Review progress to plans, and develop, communicate, delegate and actively participate in the implementation of actions necessary to correct internal and external issues. Escalate significant issues.

  • Determine and deploy equipment, processes and human resources, and optimize the allocation of resources within the team.

  • Develop, implement and review a plan to complete all assigned tasks in a timely manner to acceptable quality standards

Knowledge:

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

-Extensive knowledge of lending and credit risk and the associated processes and policies.

-3 5 years credit risk management experience

Skills:

-Change Leadership (In-depth)

-Managerial Leadership (In-depth)

-Analytical Thinking (In-depth)

-Negotiating and Contract Understanding (In-depth)

-Process Co-ordination and Management (Working)

-Resource Planning (Working)

-Risk Management (In-depth)

-Strategic Thinking (Working)

-Customer Conversations (In-depth)

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.

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