Director, Provisions & Analytics
Company: Bank of Montreal
Location: Chicago
Posted on: October 27, 2024
Job Description:
Director, Provisions & AnalyticsLocation: Chicago, IL, USATime
Type: Full timePosted On: 2 Days AgoApplication Deadline:
07/12/2024Address: 320 S Canal StreetJob Family Group: Audit, Risk
& ComplianceIn this people leader role, our ideal candidate will
have an analytical mindset, understand US regulations and how risk
models work. Experience leading quarterly provisioning process,
demonstrate ability to communicate highly technical information in
a digestible way for non-technical stakeholders. Prepare key senior
executive presentations, partner closely with key groups and ensure
that the current and forecasted portfolio performances and loss
estimates are within the bank's risk appetite.Provides oversight,
monitoring and reporting on credit risk for a designated portfolio.
Develops and monitors the credit risk management framework that
includes the governance framework & practices leveraged across BMO
to manage credit risks. Provides policies & standards,
methodologies and controls that increase transparency, accuracy and
consistency across groups. Works with stakeholders to implement the
methodology, metrics and program standards for the assigned
portfolio to ensure compliance and identification of action
plans.
- 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.
- 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.
- Networks with industry contacts to gather competitive insights
and best practices.
- Recommends measures to improve organizational
effectiveness.
- May consult to or serve on various committees and task
forces.
- Interprets new regulations and assesses impacts to the
governance framework.
- Influences and negotiates to achieve business objectives.
- Identifies emerging issues and trends to inform
decision-making.
- Recommends business priorities, advises on resource
requirements and develops roadmap for strategic execution.
- Manages resources and leads the execution of strategic
initiatives to deliver on business and financial goals.
- Measures the effectiveness of risk governance system and
framework; recommends changes as required.
- Conducts independent analysis and assessment to resolve
strategic issues.
- Leads the development and maintenance of the governance system
and framework.
- Acts as the prime contact for internal/external stakeholder
relationships, which may include regulators.
- Ensures alignment between stakeholders.
- Represents the risk program / governance structure during
internal/external regulatory audits and/or examinations.
- Designs and produces regular and ad-hoc reports, and
dashboards.
- Develops and manages comprehensive information management
systems; designs and/or leads initiatives to improve processes,
analysis and reporting.
- Defines business requirements for analytics & reporting to
ensure data insights inform business decision making.
- Breaks down strategic problems, and analyses data and
information to provide insights and recommendations.
- Leads change management programs of varying scope and type,
including readiness assessments, planning, stakeholder management,
execution, evaluation and sustainment of initiatives.
- Leads the development of the communication strategy focusing on
positively influencing or changing behaviour.
- Collaborates across BMO to develop communications strategies
and ensure consistency of messaging, in order to positively
influence or change behaviour.
- Assesses and adapts existing operational programs; develops new
capabilities to ensure ongoing success.
- Leads the execution of operational programs; assesses and
adapts as needed to ensure quality of execution.
- Manages the review and sign-off process for relevant regulatory
reporting.
- Leads and integrates the monitoring, measurement & reporting on
the status of the credit risk governance program to internal &
external stakeholders.
- Leads the management of governance meetings and maintenance of
governing body mandates, oversight and approval guidelines.
- May provide specialized support for other internal and external
regulatory requirements.
- Provides input into the planning and implementation of ongoing
operational programs in support of the credit risk framework.
- Leads the design, implementation and management of core
business/group processes.
- Identifies, develops and administers credit risk control
framework activities for adherence to all policies, procedures and
established processes; documents and reports results of independent
risk assessments on an individual and portfolio basis.
- Identifies where corrective actions are required and escalates
per guidelines; ensures corrective action is taken as
necessary.
- Provides advice and guidance to assigned business/group on
implementation of the risk framework, including effective
challenge.
- Coordinates and participates in the execution of
oversight/governance activities including reporting; assessment of
education & training needs, development/delivery of training;
development and execution of regulatory administration processes &
procedures.
- Consults with stakeholders to improve consistency and
transparency of risk measurement, metrics and reporting.
- Supports the development and maintenance of the governance
system and framework including supporting policy/standard/operating
procedures lifecycle management, education and training
assessments.
- Develops and maintains in-depth knowledge of business and
related risk management requirements and legislative/ regulatory
directives and guidance.
- Builds effective relationships with internal/external
stakeholders.
- Analyzes data and information to provide insights and
recommendations. E.g. risk trends in key sectors, geographies or
LOBs.
- Monitors and tracks performance; addresses any issues.
- Coordinates and monitors the review and sign-off of regulatory
reporting and attestations.
- 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 9+ years of relevant experience and post-secondary
degree in related field of study or an equivalent combination of
education and experience.
- Expert knowledge and understanding of the credit risk
management practices.
- Expert of regulatory requirements and legal documentation.
- Expert knowledge & experience with risk policy frameworks;
quality control / testing frameworks.
- 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 -
$238,000.00Pay Type: SalariedThe 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: We're
here to helpAt 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
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.
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Keywords: Bank of Montreal, Racine , Director, Provisions & Analytics, Executive , Chicago, Wisconsin
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