55 Bloor Street West
Job Family Group:
Audit, Risk & Compliance MANDATE
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
2) Provide effective challenge to ensure business initiatives effectively manage 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.
3) Develop strong oversight processes and controls to ensure the business is operating within its stated risk appetite
- 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
4) Lead credit risk initiatives for Business Banking
- 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
5) Inform Business Banking credit risk policy and automated lending decision strategies
- 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.
- 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
We're here to help
- 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
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.