Conducts independent examinations of credits and portfolios to ensure risk rating accuracy and asset quality of the credit portfolio. As a critical component of risk management at BMO, this work provides vital assurance to the Board of Directors and senior management as to the quality of the internal control system and in so doing helps reduce the risk of loss and reputational damage to the Company. Identifies unacceptable/high risk circumstances that could lead to material impact on profitability or reputation. Provides independent assurance on the quality and effectiveness of internal control, risk management, and governance systems and processes to support senior management and the Board in protecting BMO and its reputation.
- Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
- Ensures alignment between values and behaviour that fosters diversity and inclusion.
- Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
- Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
- Attracts, retains, and enables the career development of top talent.
- Leads and directs risk rating accuracy assessments (risk ratings, accrual status, loss determination) in selected High Risk Loan Meetings, with accountability for regular review of high risk loans.
- Advises and counsels senior leaders concerning credit policies and credit management practices and on strategic project participation (strategy and new product development).
- Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
- Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
- Collaborates with senior leaders to determine action plans for resolving material issues noted in review.
- Monitors to ensure actions are executed as proposed.
- Acts as the prime contact for internal/external stakeholder relationships, which may include regulators.
- Coordinates the management of databases; ensures alignment and integration of data in adherence with data governance standards.
- Monitors and tracks performance, and addresses any issues.
- Oversees the review process to ensure transparency, consistency and proper engagement of senior leaders to address findings for appropriate resolutions of issues and follow-up action plans.
- Collaborates across BMO to develop communications strategies and ensure consistency of messaging, in order to positively influence or change behaviour.
- 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.
- Acts as subject matter experts in US Acquisition Due Diligence processes for prospect commercial portfolios, including upfront portfolio analysis, on-site file reviews, specific loss estimations, and other assessments as needed to enable a commercial-wide assessment of portfolio risk profile, estimation of losses, and review of the target’s credit management practices (as required).
- Motivates continued high performance by enhancing and executing the People Strategy including skill transformation and career development.
- Enhances Competency Self-Assessment and Individual Development Plan view of skills and knowledge.
- Recommends modifications to division training to address real time and evolving needs identified through self assessments, quality reviews, emerging trends and regulatory expectations.
- Recommends changes as needed to team structure, succession planning, to enable effective completion of the group's mandate.
- Reviews and rates credit risks to assure timeliness and accuracy of credit risk ratings for the assigned commercial loan portfolio and/or retail loan portfolio.
- Participates in ongoing portfolio reviews, target examinations, portfolio deep dives, and special reviews of specific credits in accordance with Credit Risk Review Mandate and Procedures.
- Assesses ratings and evaluation of the adherence to policies and procedures, as well as the effectiveness and accuracy of credit analysis, collateral evaluation, monitoring, underwriting quality, and identification and management of problem credits.
- Assigns grades for the quality and risk profile of the portfolios reviewed and the compliance of the related unit(s) with bank policies and procedures.
- Recommends action plans for resolving material issues noted in reviews.
- Provides training and support to internal stakeholders on risk rating accuracy and best practices in credit risk.
- Builds relationships with lending areas and across risk management.
- Assures consistent practices and applications of Credit Risk Review Mandate and Procedures.
- Completes investigations, assigned tasks, reports, and contribute to overall review assessments and grades timely, accurately and with appropriate diligence.
- Represents Credit Risk Review as requested in various cross enterprise working groups in order to provide credit risk oversight and perspectives.
- Aggregates Credit Risk Review intelligence, identifies issues and reports to Senior Management, various internal committees and/or Boards.
- Works collaboratively with internal stakeholders to maximize risk return and improve the customer experience through the lending process.
- Participates in due diligence for portfolio or bank acquisitions via credit risk evaluations.
- Contributes to the development and implementation of loan policies and procedures, on an as-needed basis.
- Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO.
- Influences how teams/groups work together.
- Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.
- Communicates abstract concepts in simple terms.
- Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
- Anticipates trends and responds by implementing appropriate changes.
- Broader work or accountabilities may be assigned as needed.
Qualifications:
- Typically 20+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
- Professional designations or business designation: CPA, MBA, CFA.
- Credit qualification required according to the standards established within the Credit Qualification Process Policies and Procedures.
- Superior knowledge of all phases of effective credit administrations, policies and procedures, commercial lending and/or retail lending processes, and analytical practices.
- Essential to have ability to identify early warning signals and required practices for management of problem accounts. Experience with loan workouts preferred.
- Extensive knowledge of and experience with Corporate Policies/Standards, Commercial and/or Retail Lending Process and Directives, the enterprise’s credit culture and procedures, and general banking practices and regulations.
- Superior credit analytics and risk evaluation skills.
- Strong finance and accounting practice skills.
- Seasoned expert with extensive industry knowledge.
- Technical leader viewed as a thought leader for innovation.
- Verbal & written communication skills - Expert.
- Analytical and problem solving skills - Expert.
- Influence skills - Expert.
- Collaboration & team skills; with a focus on cross-group collaboration - Expert.
- Able to manage ambiguity.
- Data driven decision making - Expert.
Salary:
$128,000.00 - $238,000.00
Pay Type:
Salaried
The above represents BMO Financial Group’s pay range and type.
Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.
BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards
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/us/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. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.
