Manager, Embedded Credit Card Products

BMO•Toronto, ON

1d•CA$69,000 - CA$129,000

About The Position

As part of BMO’s North American Retail & Small Business Payments department, the Manager, Credit Card Insurance Products is accountable for the day-to-day management, performance, and governance of BMO's credit card insurance portfolio across Retail, Small Business and Corporate segments. Through effective portfolio management, partner oversight, customer advocacy, and risk governance, you will drive product performance, improve customer outcomes, and ensure compliance with applicable regulatory, legal, and business requirements. Leveraging data, industry insights, and cross-functional collaboration, you will identify opportunities to enhance products, processes, and customer experiences while supporting strategic business objectives. You will serve as a subject matter expert on credit card insurance products and provide leadership in the execution of portfolio initiatives, regulatory requirements, and partner governance activities.

Requirements

Minimum 3–5 years of relevant experience in product management, insurance, banking, financial services, or a related field, and a post-secondary degree or equivalent combination of education and experience.
Experience supporting the management and delivery of customer-facing products or services within a regulated environment.
Experience working with cross-functional stakeholders to deliver business initiatives, process improvements, or regulatory requirements.
Experience leveraging data, customer insights and market research to identify opportunities and support business recommendations.
Experience managing external vendors, suppliers, or strategic partners.
Knowledge of risk management, governance, compliance and regulatory requirements within financial services.
Product management and portfolio analysis
Strong financial, qualitative, analytic and business casing skills
Proven problem-solving skills
Customer insight analysis and continuous improvement
Excellent communication skills (oral and written) with ability to frame and effectively communicate complex problems
Vendor and partner management
Risk management and controls
Regulatory and compliance awareness
Analytical and critical thinking skills
Strong organizational and prioritization skills
Ability to manage multiple initiatives in a fast-paced environment
Strong attention to detail and commitment to quality

Nice To Haves

Experience with credit card products, insurance products, or customer protection programs is preferred.
Experience with Canadian credit card insurance products and insurance regulations is considered an asset.

Responsibilities

Accountable for optimizing portfolio performance and supporting strategic objectives through effective product management, analysis, and continuous improvement.
Own the day-to-day management and performance of BMO's Retail, Small Business, and Corporate credit card insurance portfolio, ensuring alignment with business objectives, customer needs, and regulatory requirements.
Lead the execution of portfolio strategies and identify opportunities to enhance product performance, customer value, and operational effectiveness.
Analyze portfolio performance, customer trends, market intelligence, and operational data to identify opportunities, emerging risks, and areas for improvement.
Develop recommendations, business cases, and strategic insights to support product enhancements, portfolio optimization, and enterprise initiatives.
Lead and coordinate cross-functional execution of portfolio initiatives with Product, Marketing, Operations, Technology, Risk, Legal, and Compliance partners.
Act as the insurance subject matter expert for enterprise projects and strategic initiatives, providing guidance and recommendations that influence business decisions and outcomes.
Monitor industry trends, competitive developments, and regulatory changes to identify implications and opportunities for the portfolio.
Accountable for improving customer outcomes through communication governance, complaint management, and continuous enhancement of the customer experience.
Own the governance and review of customer-facing insurance communications and materials to ensure accuracy, consistency, and regulatory compliance.
Lead the identification and prioritization of customer experience improvements through analysis of customer feedback, complaints, operational performance, and market insights.
Manage complex customer escalations and complaint themes, ensuring timely resolution while identifying root causes and opportunities for systemic improvement.
Partner with internal stakeholders and insurance providers to remove customer friction points and implement solutions that improve customer satisfaction and advocacy.
Monitor customer experience performance metrics and emerging trends, recommending actions that strengthen customer outcomes and support business objectives.
Drive continuous improvement initiatives that enhance customer journeys, product communications, and operational processes.
Accountable for ensuring partners deliver against contractual commitments, governance expectations, service standards, and customer experience objectives.
Own day-to-day governance and relationship management of insurance providers and third-party partners.
Hold partners accountable for contractual obligations, service-level commitments, customer experience objectives, and risk management requirements.
Lead performance reviews and governance discussions, ensuring issues are identified, escalated, and remediated in a timely manner.
Drive continuous improvement initiatives with partners to enhance operational performance, customer outcomes, and business results.
Assess and escalate partner performance concerns, operational risks, and service delivery issues, recommending mitigation actions where appropriate.
Support supplier governance requirements, including performance reporting, due diligence reviews, risk assessments, and governance documentation.
Ensure internal policies, procedures, and operational practices enable the effective and compliant delivery of insurance products and services.
Accountable for maintaining a well-controlled portfolio environment that meets regulatory, legal, risk management, and governance requirements.
Maintain effective oversight of portfolio risks and controls to ensure insurance programs operate within established risk appetite, regulatory requirements, and internal policies.
Identify, assess, and escalate emerging risks, control weaknesses, compliance concerns, and customer impacts, driving appropriate remediation activities.
Partner with Legal, Compliance, Risk, and business stakeholders to ensure products, communications, and operational processes remain compliant with applicable requirements.
Own the coordination and governance of customer communication approvals and regulatory disclosure requirements.
Lead portfolio activities related to third-party risk management, audits, due diligence reviews, and outsourcing governance requirements.
Contribute to the design and implementation of controls, processes, and governance practices that strengthen portfolio oversight and reduce operational and regulatory risk.
Support regulatory and governance initiatives that enhance the effectiveness, sustainability, and compliance of the portfolio.