Director, US Provisions & Analytics

Application Deadline:

11/22/2024

Address:
320 S Canal Street

Job Family Group:
Audit, Risk & Compliance

In this people leader role, our ideal candidate will have an analytical mindset, in-depth understanding of Consumer & Business Banking products, good accounting/finance knowledge, understanding of US (CECL) & IFRS standards and how risk & loss forecasting models work. Experience leading quarterly provisioning process, demonstrate ability 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 expected performance and losses Consumer & Business Banking portfolios.
• Develops and monitors the provisions methodology to ensure it continues to meet BMO's risk appetite. Co-ordinates with 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.
• Lead quarterly provisioning (PCL) process for the US consumer portfolio: Calculate and prepare quarterly provisions for credit losses and reservations by product type and circulate them for approval, as well ensure different stakeholders are aligned and aware.
• Communicate trends and key drivers of provision expense to the business partners, heads, and risk executives. Drive the forecasting and annual provision planning process to determine targets for key risk metrics as PCL, allowances, and Net write-offs.
• Prepare key senior executive presentations and commentary for Senior Credit Committee and other executive reporting, regulatory information and investor information related to trends in provisioning and main drivers in variances compared to historical trends and forecasts. Provide support and commentary on questions from executive management, investor relations, audit, and external regulators (OCC & OSFI).
• Work closely with Collections partners to understand reasons for shift in delinquencies, including forecasts. Build strategic relationships with the business groups and retail risk departments to liaison on new initiatives, local trends, and economic and regulation changes that may affect future provisioning.
• Ensure that the current and forecasted portfolio performances and loss estimates are within the bank's risk appetite and/or highlight the path to green, as well as underlying reasons for shift in estimates or forecast.
• Assess alternative scenarios to determine potential PCL impact. Develop sensitivity analysis to identify PCL's significant drivers about quality, growth, portfolio mix, macroeconomic factors, and product-specific performance.
• Partner with ERPM General Allowance, modeling and forecasting teams to align on scenario outcomes as well as loss estimates.
• Provide strategic direction to business partners, risk groups and other departments (finance, audit etc.) on key drivers of provisioning levels to influence policy changes and collection efforts at the site level.
• 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.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the governance system and framework.
• 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.
• 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 - $238,000.00

Pay Type:
Salaried

The 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: https://jobs.bmo.com/global/en/Total-Rewards

We're here to help

At 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 http://jobs.bmo.com/us/en

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.