Senior Manager, North American Retail Credit Operations and Compliance

BMO•Toronto, ON

19d•CA$94,600 - CA$176,000•Hybrid

About The Position

Assists in the implementation, maintenance and administration of a specific compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO Compliance Program. This includes assisting with the annual B20 Attestation process with the Home Financing team and with the Head, NA Retail Credit Operations examine the key control artifacts, draft effective challenge commentary and review with the CRO, Retail Risk. Advises business/group on implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them. Identifies risks and implements appropriate actions to mitigate them. Develops and maintains compliance information for analysis and reporting via the enterprise database (GRCE) and performs risk assessment, monitoring, testing and surveillance activities to ensure compliance activities are aligned with enterprise program requirements. Acts as a subject matter expert on relevant regulations and policies and provides advice and influences assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs. Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to material control failures in business/group. Manages the North American Retail Credit pre-audit preparedness activities and preparing internal team communications, managing and triaging the flow of audit pull lists to the subject matter experts, as well as tracking, monitoring and managing all submissions to Corporate Audit. Responsible for managing Process, Risk & Controls activities including updating PRC inventory, monitoring and testing and developing Product/Service & Process Risk Assessment. Assist in issue management, assisting team in identifying self-identified issues and recording audit and regulatory issues. Maintain monthly tracking remediation of issues and communicating with NA Retail Credit leadership team on issue resolution. Work on annual review of the Basel paragraphs, challenging 1st line assessments and facilitate discussion with the accountable executive to review the recommendations for revision. Supports the execution of Risk Framework Enhancement activities in collaboration with internal stakeholders. Assist in various administrative, reporting and strategic management activities related to the North American Retail Credit team. This may include tracking of progress toward team and Enterprise Risk & Portfolio Management objectives, assisting in the development and coordination of team townhalls as well as other team-wide communications, and coordinating corporate policy and standard reviews. Builds effective professional relationships with business group, internal/external stakeholders and trust with regulators. Oversees the implementation, maintenance and monitoring/ reporting of all policies, guidelines, procedures and compliance programs, provides advice/rulings as necessary, for one or multiple complex function(s)/activity(ies). Broader work or accountabilities may be assigned as needed.

Requirements

Undergraduate degree in related discipline (business or finance) required.
Typically 8+ years business experience at a financial institution in a regulatory, compliance, audit, consumer lending and/or risk management role.
Advanced knowledge of regulatory/compliance requirements and audit processes.
Strong communication, critical thinking, relationship management and project management skills.
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.

Nice To Haves

Good understanding of OSFI's Guideline B-20 and Capital Adequacy Requirements guideline preferred.

Responsibilities

Assists in the implementation, maintenance and administration of a specific compliance program.
Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO Compliance Program.
Assists with the annual B20 Attestation process with the Home Financing team and with the Head, NA Retail Credit Operations examine the key control artifacts, draft effective challenge commentary and review with the CRO, Retail Risk.
Advises business/group on implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them.
Identifies risks and implements appropriate actions to mitigate them.
Develops and maintains compliance information for analysis and reporting via the enterprise database (GRCE) and performs risk assessment, monitoring, testing and surveillance activities to ensure compliance activities are aligned with enterprise program requirements.
Acts as a subject matter expert on relevant regulations and policies and provides advice and influences assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.
Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.
Supports root cause analysis in response to material control failures in business/group.
Manages the North American Retail Credit pre-audit preparedness activities and preparing internal team communications, managing and triaging the flow of audit pull lists to the subject matter experts, as well as tracking, monitoring and managing all submissions to Corporate Audit.
Responsible for managing Process, Risk & Controls activities including updating PRC inventory, monitoring and testing and developing Product/Service & Process Risk Assessment.
Assist in issue management, assisting team in identifying self-identified issues and recording audit and regulatory issues.
Maintain monthly tracking remediation of issues and communicating with NA Retail Credit leadership team on issue resolution.
Work on annual review of the Basel paragraphs, challenging 1st line assessments and facilitate discussion with the accountable executive to review the recommendations for revision.
Supports the execution of Risk Framework Enhancement activities in collaboration with internal stakeholders.
Assist in various administrative, reporting and strategic management activities related to the North American Retail Credit team.
Builds effective professional relationships with business group, internal/external stakeholders and trust with regulators.
Oversees the implementation, maintenance and monitoring/ reporting of all policies, guidelines, procedures and compliance programs, provides advice/rulings as necessary, for one or multiple complex function(s)/activity(ies).
Broader work or accountabilities may be assigned as needed.