Director, Credit Strategy Optimization and Governance

Application Deadline:

01/30/2025

Address:
33 Dundas Street West

Job Family Group:

Audit, Risk & Compliance

In this role you will be responsible for optimizing credit risk strategies across retail and business banking including balancing risk and reward, analyzing trends, developing/implementing innovative solutions, and managing stakeholders. In conjunction to managing risk appetite, this role will also support/enable business targets for new account acquisition, retention while ensuring appropriate risk mitigation strategies are in place to maintain overall portfolio quality.

• Develops and maintains risk decision-support strategies using analytical solutions to enable high-quality, fact-based decisions for a designated risk portfolio.
• Lead end-to-end stakeholdering with local senior management in Group Risk Management, Products, Operations and other areas to obtain approval of credit strategies with concise rationale supported by comprehensive analysis and documentation, and to understand and propose new strategies designed to help achieve business targets.
• Recommend opportunities and drive initiatives that will enhance portfolio performance or improve existing processes.
• Leads and integrates the monitoring, measurement & reporting on the status of the risk decision strategy performance to internal & external stakeholders.
• Leads the management of governance meetings/committees and maintenance of governing body mandates, oversight and approval guidelines.
• Leads the development and maintenance of the risk strategy management framework.
• Supports the planning and execution of the change management process including simulation, validation testing and reporting requirements to evaluate the effectiveness of the new or modified strategies.
• Provide input and support for major changes &/or upgrades to the decisioning infrastructure that will enhance credit scoring capability and the rapid deployment of sophisticated credit strategies.
• Lead a team that is responsible for performing portfolio and strategy analysis and strategy validation using advanced methods and tools to gain insights, identify opportunities, understand trends and determine strategy effectiveness.

Additional Responsibilities:

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• 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.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
• Develops an expert understanding of business/group challenges.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Identifies emerging issues and trends to inform decision-making
• Measures the effectiveness of risk decision strategy management framework; recommends changes as required.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the risk strategy management framework.
• Represents the decision strategy function during internal/external regulatory audits and/or examinations.
• Designs and produces regular and ad-hoc reports, and dashboards.
• Presents statistical findings & recommendations in a simple, clear way to drive business action.
• Leads and integrates the monitoring, measurement & reporting on the status of the risk decision strategy performance to internal & external stakeholders.
• Supports the planning and execution of the change management process including simulation, validation testing and reporting requirements to evaluate the effectiveness of the new or modified strategies.
• Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Ensures alignment between stakeholders
• Develops and maintains in-depth knowledge of business product strategies and related risk management requirements and legislative/ regulatory directives
• 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.
• 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.
• May consult to or serve on various committees and task forces.

Qualifications:

• Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Expert product knowledge for the designated business / portfolio.
• Expert knowledge of credit risk management theory, processes and portfolio management reporting techniques.
• Expert knowledge and experience in validation of credit risk strategies.
• Experience with producing risk memo and recommendation for approvals.
• Experience with risk policy, monitoring framework and committee governance.
• Expert knowledge of analytics concepts and applications.
• 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 :

$103,500.00 - $192,500.00

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

About Us

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.

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.