320 S Canal Street Chicago Illinois,60606
In support of the Credit Portfolio Management, this role leads the creation, maintenance and oversight of the Credit Concentration Risk Management Framework as well as support Credit Portfolio Management. This role is a key point of integration between the frameworks including Risk Appetite, Risk Identification, and Credit Risk Management as well for Portfolio Management activities with Business and Credit Risk stakeholder.
Key accountabilities for the role are:
- Establish Credit Concentration Risk Appetite metrics and institute across the portfolio.
- Lead the enhancement of Credit Concentration Risk Management Framework.
- Serve as key contact on annual refresh of the Enterprise and US Credit Concentration Limits coordinating with stakeholders and preparing reports for senior management and the Board.
- Maintaining accurate and complete documentation of the end-to-end design process to ensure transparency and repeatability.
- Lead regular engagements and forum discussion with business and credit risk to monitor adherence to Credit Concentration Limits.
- Support with maintenance of key internal and external governing documents outlining BMO’s Credit Risk Concentration Management.
- Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
- Acts as the prime subject matter expert for internal/external stakeholders.
- Acts as a subject matter expert on relevant regulations and policies.
- May network with industry contacts to gain competitive insights and best practices.
- Leads the execution of initiatives/programs; assesses and adapts as needed to ensure quality of execution.
- Assists with the interpretation of new or changing regulations and assessing impacts to the risk programs and governance frameworks; recommends and implements solutions based on analysis of issues and implications for the business.
- Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
- Identifies potential risk situations/ impacts and make recommendations or escalates as per decision rights frameworks and guidelines.
- Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
- Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
- Implements changes in response to shifting trends.
- Providing coaching and guidance to junior staff members in support of assigned accountabilities.
- Broader work or accountabilities may be assigned as needed.
Qualifications:
- Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
- In depth / Expert knowledge of credit risk management, audit, compliance, governance practices.
- In-depth / Expert knowledge of business and regulatory environment and understanding of credit risk issues / trends and best practices.
- Knowledge of banking products, including credit experience, economics and financial markets.
- In-depth / Expert communication and relationship management skills.
- Ability to manage multiple priorities with effective planning and organizing skills.
- Seasoned professional with a combination of education, experience and industry knowledge.
- Verbal & written communication skills - In-depth / Expert.
- Analytical and problem solving skills - In-depth / Expert.
- Influence skills - In-depth / Expert.
- Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
- Able to manage ambiguity.
- Data driven decision making - In-depth / Expert.
Salary:
$100,000.00 - $185,500.00
Pay Type:
Salaried
The above represents BMO Financial Group’s pay range and type.
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.
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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.
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.
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