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BMO Financial Group Manager, Lending Policy Strategy in Toronto, Ontario

Description:

The Manager, Lending Policy Strategy is accountable for thedevelopment and maintenance of market relevant Product Policies & Programswith the view to simplify and balance risk with opportunity taking intoconsideration our customer needs, regulatory requirements, and the competitivelandscape.Within the Bank’s policyframework, this role will create and apply new tools, policies and processesthat provide differentiation and a competitive advantage for the Bank. .

The mandate covers all aspects of the retail lendingcontrol framework for all personal lending activities related to real estatesecured lending, unsecured and non-real estate secured lending products &programs.This includes first levelmanagement of exceptions to policy in a manner that ensures an appropriaterisk/return.

As a subject matter expert, the Manager, Policy Strategywill participate across multiple initiatives and play a key role in providingproduct expertise and opinion to identify upstream and downstream impacts tobusiness, employee and customer as well as ensure alignment to product strategy& risk appetite.Participation mayinclude support with analysis and development of responses and implementationof remediation plans on internal/external audit and regulatory examinations.

Key Accountabilities

70% Policies/Processes

15% Compliance

15% Risk Management and Control

ACCOUNTABILITIES

A. Policies/Processes

  • Helpsdetermine business priorities and best sequence for execution of business/groupstrategy

  • Leads/participatesin the design, implementation and management of core business/group policies,processes & programs to optimize risk/return, including leading thedevelopment of tools, and methods to support the achievement of the businessagenda.

  • Researchesexisting or emerging industry/regulatory requirements & related bestpractices to assist and develops recommendations for changes/enhancements.

  • Maintainmarket knowledge through networking with other financial institution to ensureBMO policies are competitive (at parity with industry where it is not industryleading).

  • Conductsindependent analysis of issues and the implications for the business andrecommends solutions based on an understanding of the business strategy andstakeholder needs.

  • Focus onrationalizing/simplifying our current lending policies through maintaining aworking knowledge of other financial institutions’ policies by establishingnetworks with other financial institutions’ policy teams, and developinglending employee panels to ensure we remain competitive in the currentmarketplace.

  • Providesubject matter expertise to Technology and Operations and Credit SystemManagement and STRATA teams to design and implement end-to-end productprocesses and documents that ensure the effective and efficient delivery ofproducts.

  • Buildseffective relationships with internal/external stakeholders to influence andnegotiate to achieve business objectives and ensures alignment betweenstakeholders.

  • Leads orparticipates in a variety of change management activities including readinessassessments, planning, stakeholder management, execution, evaluation and sustainmentof initiatives to positively influence or change behaviour

  • Worksindependently and regularly handles non-routine situations.

  • Broader workor accountabilities may be assigned as needed.

B. Compliance

  • First levelescalation for requested exceptions to policies by branches, MortgageSpecialists and North American Contact Centre to ensure risk/return isacceptable and a high level of positive customer service is maintained.

  • Providesubject matter expertise on all product related initiatives involvingregulatory requirements, including recommending changes to policies to supportoverall business goals.

  • Assists withthe interpretation of new or changing regulations and assessing impacts to thegovernance frameworks.

  • Representproduct policy and provides support during internal/external regulatory auditsand/or examinations.

  • Develops andmaintains in-depth knowledge of business and related risk managementrequirements and legislative/regulatory directives and guidance.

C. Risk Management and Control

  • Ensure theinterests of P&BB Canada are effectively represented on current riskprofiles and practices.

  • Act asbroker between Product teams and P&C Risk to ensure all concerns, issuedand opportunities are identified and addressed.

  • Exercisesjudgment to identify, diagnose, and solve problems within given rules.

  • Guides/assistsin the identification and classification of emerging issues and trends toinform decision making

  • Identifieswhere corrective actions are required and escalates per guidelines; ensurescorrective action is taken as necessary

  • Identifies,develops and administers control framework activities for adherence to allpolicies, procedures and established processes;

  • Providesinput into the planning and implementation of ongoing operational programs insupport of the retail control framework

Authorities

Scope & Impact

Authority to approve policy exceptions, respecting theBank’s risk appetite.

This job contributes to BMO Financial Group's overallbusiness results by managing the day to day operations .

Desired Behaviours

Key Performance Indicators

Ability to multi-task and manage multiple priorities.Strong cross-functional collaboration and relationship building skills.

Cross Functional Relationships

  • PersonalLending and RESL Policy and Oversight

  • Personal &Business Banking Operational Risk

  • Legal &Regulatory Compliance

  • BusinessProcess & Digitization, Personal, Business Banking, Payments &Collection Operations (PBPCO), and Specialized Sales Program Office

  • Technologyand Operations

  • ConsumerCredit Department

  • CustomerExperience and Workforce Effectiveness (CEWE)

Qualifications:

Knowledge & Skills

Knowledge:

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

  • Knowledge of lending and credit risk and the associated processes and policies including Home Financing Fulfillment practices

Skills:

  • Analytical and problem solving skills (In-depth)

  • Knowledge of industry practice (Working)

  • Change Leadership (Working)

  • Process Co-ordination and Management (Working)

  • Knowledge of lending systems CCAPS, CFS (In-depth)

  • Knowledge of product systems MDIF, NCCS, MECH (basic)

  • Risk Management (Working)

  • Deep knowledge and technical proficiency gained through extensive education and business experience

  • Influence skills (In-depth)

  • Data driven decision making (Working)

  • Customer Conversations (In-depth)

  • Verbal & written communications skills (In-depth)

  • Project Management (basic)

May require flexibility in scheduling to accommodate branch hours.

We’re here to help

At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.

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://bmocareers.com

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.

Job Field:

Investment Solutions

Job Schedule:

full-time

Primary Location:

Canada-Ontario-Toronto

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