Manager, Credit Risk Governance and Oversight

BMO•Toronto, ON

2d•CA$69,000 - CA$129,000•Onsite

About The Position

This role leads the monitoring, measurement, and reporting of the Credit Risk governance program, providing clear status updates to internal and external stakeholders. It oversees governance forums and maintains mandates, oversight structures, and approval protocols for governing bodies. The position provides specialized support for regulatory requirements, as needed, ensuring alignment with internal standards and external expectations. It leads or contributes to the design, implementation, and management of core credit risk governance processes. The role identifies and escalates control deficiencies in accordance with guidelines, ensuring timely remediation and effective post-implementation monitoring. It provides independent advice and effective challenge to business/group stakeholders on the implementation of the credit risk framework. The role coordinates and executes oversight and governance activities, including reporting, training needs assessments, development and delivery of training, and administration of regulatory processes and procedures. It partners with stakeholders to enhance the consistency, transparency, and quality of risk measurement, metrics, and reporting. The role supports the development and ongoing maintenance of the credit risk governance framework, including policy, standards, and procedures lifecycle management, as well as associated training and education. It maintains a strong understanding of business activities, credit risk practices, and applicable regulatory and legislative requirements. The role coordinates and monitors the review and sign-off of regulatory reporting and attestations. It provides specialized consulting, analytical, and technical expertise, primarily supporting business/group needs with potential enterprise-wide impact. The role exercises sound judgment to assess, diagnose, and resolve complex issues within established frameworks, operating independently and effectively managing non-routine situations. The Manager, Credit Risk Oversight and Governance reports to the Director, Credit Risk Oversight and Governance, and provides independent second‑line oversight in support of the Bank’s overall credit risk management framework. The role supports Senior Management by delivering objective assessment, challenge, and assurance over credit risk practices within the Retail Lending portfolio.

Requirements

Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
In-depth knowledge and understanding of credit risk management practices of mortgage/real estate lending.
In-depth knowledge of regulatory requirements and legal documentation.
In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.
Deep knowledge and technical proficiency gained through extensive education and business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.
Credit risk experience

Nice To Haves

Understanding of SaaS
Understanding of Power BI
Data analytics experience

Responsibilities

Leads the monitoring, measurement, and reporting of the Credit Risk governance program, providing clear status updates to internal and external stakeholders.
Oversees governance forums and maintains mandates, oversight structures, and approval protocols for governing bodies.
Provides specialized support for regulatory requirements, as needed, ensuring alignment with internal standards and external expectations.
Leads or contributes to the design, implementation, and management of core credit risk governance processes.
Identifies and escalates control deficiencies in accordance with guidelines, ensuring timely remediation and effective post-implementation monitoring.
Provides independent advice and effective challenge to business/group stakeholders on the implementation of the credit risk framework.
Coordinates and executes oversight and governance activities, including reporting, training needs assessments, development and delivery of training, and administration of regulatory processes and procedures.
Partners with stakeholders to enhance the consistency, transparency, and quality of risk measurement, metrics, and reporting.
Supports the development and ongoing maintenance of the credit risk governance framework, including policy, standards, and procedures lifecycle management, as well as associated training and education.
Maintains a strong understanding of business activities, credit risk practices, and applicable regulatory and legislative requirements.
Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
Provides specialized consulting, analytical, and technical expertise, primarily supporting business/group needs with potential enterprise-wide impact.
Exercises sound judgment to assess, diagnose, and resolve complex issues within established frameworks, operating independently and effectively managing non-routine situations.
Provides independent oversight, monitoring, and reporting of credit risk for decision strategies, and supports the development and ongoing management of BMO’s enterprise credit risk governance framework.
Supports relationship management with Canadian credit bureaus, including resolution of source system issues, portfolio reporting matters, project initiatives, large-scale implementations, and providing guidance to senior leadership as required.
Accountable for governance and oversight of mortgages originated through third parties, including providing advice on policies, standards, methodologies, and controls to enhance transparency, accuracy, and consistency across the business.
Provides governance oversight for 2nd Line Credit Risk functions, including Loan Review and Appraisal Review, ensuring alignment with established frameworks and regulatory expectations.
Identifies, escalates, and manages emerging concerns, trends, and issues with 1st Line partners, applying effective challenge and ensuring appropriate follow-up.
Partners with key stakeholders to deliver 2nd Line credit risk oversight, including guidance on methodologies, metrics, and program standards for assigned portfolios, ensuring compliance and clear action planning.
Accountable for the delivery of the quarterly B‑20 dashboard, including coordination and collaboration with key stakeholders to ensure accuracy and completeness.
Oversees the CCAP entitlement process, ensuring adherence to established standards and ongoing compliance.
Provides governance oversight of credit qualifications, including approval of job code requirements, review and guidance on training materials developed by the 1st Line, assessment of exemption requests, and ongoing collaboration with HR and Credit Qualification Administration teams.
Support strategic relationships and initiatives with external stakeholders (e.g., credit bureaus), and contribute to large-scale projects, data integrity improvements, and senior management reporting.
Guides/assists in the identification and classification of issues; recommends action plans.
Identifies emerging issues and trends to inform decision-making.
Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
Completes a quarterly regulatory review of all applicable OSFI B20 Artifacts; present trends and findings to senior leadership.
Ensures alignment between stakeholders.
Part of the artifact delivery team that represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.