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Provides vision and leadership for developing and implementing innovative and cost-effective information technology strategies, investment plans & operational environments to optimize BMOs technology investment, improve cost effectiveness, service quality, and support aggressive growth.

Reporting into the CIO Wealth Management, this role is responsible for the total business partner relationship, ensuring the development of a direct partnership with the senior executives of US Wealth Management as well as other business leaders. Covers all aspects from Strategic Planning to delivery and application support services. This role also needs to act as the US CIO for Wealth Management, fulfilling all reporting and regulatory requirements in this capacity. Develops and implements new/enhanced, and maintains existing, applications, architecture and solutions that meet current and future business/customer needs, with a drive to rationalization and modernized technology, which will streamline operations, drive out cost, improve customer experience and reduce regulatory, compliance, risk issues and operational defects. Partners with leaders to understand gaps, balance priorities, influence change, remove barriers and strengthen our technology. Client experience and growth continue to be at the core of the Wealth business transformation and strategy. In order to enable the business’ success, resiliency, digitization and simplification are key. To deliver on these goals, strong leadership will be required in the U.S. Wealth Technology portfolio.

Accountabilities:

• Leads a growing team of U.S. Wealth Technology professionals of roughly 150 people (44 FTE, others Contingent)

• Portfolio management of roughly 45 applications and 10MM of year over year work.

• Manages development teams that are accountable for on-time, on-budget delivery of quality solutions which includes analysis, design, development, implementation, and support of applications to ensure and/or maintain alignment with IT strategies and adhering to standards.

• Strong focus on digitization of business processes to support BMO’s Digital First agenda

• This role is accountable for the business partner relationship with the senior executives within BMO U.S. Wealth

• Responsible for the overall technology planning and IT development spend, and ensuring achievement of business and T&O KPIs

• Develops a business focused technology strategy/roadmap and set 3–5-year priorities/ milestones, that weaves the company’s digital agenda into the existing framework.

• Drives modernization and rationalization of systems/platforms to meet business/function needs.

• Acts as the single point of contact for the business/function leadership, facilitating constant dialogue with technology and business peers, to ensure an understanding of business requirements integrating across initiatives and identifying synergies

• Works effectively and successfully with third party providers to ensure that projects are executed as agreed; evaluates contracts and relationships to determine the right balance of insourcing vs. outsourcing; renegotiates contracts where necessary

• Drives technology and required infrastructure capabilities for initiatives related to the supported business/function and work with internal and external partners to achieve this.

• Promotes and supports the Bank’s risk culture ensuring employees understand their accountabilities for risk-taking activities, promoting an environment of open communication and effective challenge, and through leading by example

• Develops and maintains a flexible yet disciplined governance structure that optimizes IT priorities, delivery speed and related spend.

• Assesses and communicates risks associated with IT investments

• Optimizes cross-business opportunities ensuring a consistent and integrated employee experience

• Maintains a network of strategic relationships to identify current and emerging technologies/business solutions/vendors/ partners/investment opportunities

• Acts as a key participant in enterprise steering committees for all required programs and projects across the portfolio.

• Personally, role models customer focus and excellence in service.

• Adheres and supports enterprise customer experience and brand standards

• Drives the development and implementation of innovative technology strategies and solutions across the enterprise that optimize the customer experience

• Instills pride and followership with Being BMO

• Ensures alignment between values and behaviour that fosters diversity, inclusion and effective challenge

• Develops leaders, plans for succession, and enables high performance with winning culture.

Qualifications:

• Post-secondary degree/diploma in Computer Science or equivalent work experiences. Master’s degree in Computer Science or MBA with technology as a core component preferred.

• Good understanding of investment business and wealth technologies and business.

• In depth expertise in IT development and implementation, acquired through 15+ years of IT managerial experience supporting financial services

• Possesses 15+ years’ experience managing and/or directing an IT operation

• Advanced understanding of Application Development process and methodologies and the latest innovations

• Advanced knowledge of business theory, business processes, management, budgeting and business office operations

• Advanced understanding of the organization’s goals and objectives and technical knowledge of current network and operating systems, hardware, protocols and standards

• Proven track record in achieving or exceeding objectives

• Proven track record of timely, cost-effective and industry-leading delivery

• Broad/diverse business knowledge of a range of functions, products and/or systems, or expert knowledge of specialized functions, products and/or systems

• Exceptional relationship management, coaching and communication skills

• Ability to translate broad, strategic intent into tactical and operational plans

• Highly developed strategic planning, including business requirements, project planning, and organizing & negotiating the allocation of resources to deliver on unit priorities

• Proven ability to work within a changing environment and lead the implementation of change

• Proven leadership capabilities – communication, influence & negotiations, conflict resolution, people management, relationship management (internal & external) and multi-tasking

• Advanced level of business acumen, accountability and financial proficiency

• Proven ability to partner with clients to identify business challenges and effective strategies/alternatives to mitigate them.

• Cloud, Dev ops, RPA and other transformational deliveries.

• Strong background and a focus on continuous improvement.  

Please note the target base salary range for this specific position is a range from $216,000USD to $240,000 USD

Compensation and Benefits:

Pay Type:

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.

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Job Family Group:

The U.S. Consumer business at Bank of Montreal has been transformed with the recent acquisition of Bank of the West. We are now on a multi year journey to modernize and scale the US Consumer business with an aspiration to significantly grow over the next few years. Currently, we offer multiple products including Mortgage, Home Equity, Indirect RV/Marine, Credit Card, Other Direct, Business Banking and Deposits.

We are seeking a Managing Director to join the U.S. Consumer Risk team. This is people leadership position within the 2nd line of defense, which will report into the Head of U.S. Consumer Risk and will be responsible for providing independent risk oversight over the various lines of businesses. The incumbent should be a strategic thinker with sound business acumen and a passion for using advanced data and analytics to make business decisions. This is a fantastic opportunity for someone to continue evolving the risk management framework, 2nd line control and oversight processes and discipline around consumer lending as BMO pivots towards a Category 3 bank in US. The incumbent will work closely with heads of the businesses and staff groups to fulfill the growth vision and ensure adequate controls are in place to meet the risk appetite for the business. This is a highly visible role with substantial interaction with multiple stakeholders including senior management and regulators.

Specific responsibilities include:

• Provides independent risk oversight of the consumer lending businesses in U.S. P&BB, ensuring credit risks are appropriately and prudently managed within the risk tolerance for this business.

• Ensures the quality, performance, and credit risk profile of the U.S. P&BB retail portfolio are monitored and reported to Senior Executive, management committees, and RMC on a timely basis.

• Provides transparency and insight into the bank’s risk appetite to enable the business unit to understand and optimize risk return trade-offs within enterprise risk tolerances, while reinforcing the principle that business units are accountable for all their risks.

• Presents value-added risk context, oversight of credit risk systems, models, scorecards, credit exception underwriting, return on capital risk assessments to support strategic business planning and new product development risk assessment.

• Acts as the risk stripe owner for consumer credit risk in the U.S. and provides the required leadership and strategic direction. Executing within the constraints defined in Corporate Policies and Corporate Standards, approves, and recommends scorecards, approves credit underwriting exceptions for all consumer credit transactions for U.S. P&BB, approves and recommends automated adjudication, and approval of new products or processes related to consumer lending.

• Ensures Bank’s credit risk taking policies, authority structures, procedures and processes are adhered to through direct involvement in credit transaction authorizations and portfolio management processes.

• Directs the development and implementation of proper quantitative reporting and analytic tools and processes across all U.S. Consumer loan portfolios. Leads, synthesizes, and communicates the analysis of data to proactively identify and understand the drivers of portfolio risk, and forecast portfolio performance.

• Works with key executives within ERPM, and the U.S. P&BB Consumer/Wealth Management line of business, to direct the quality, performance, and respective credit risk profile of this significant business segment. Interfaces closely with other consumer credit risk roles within ERPM. Serves as primary point of contact for the line of business in all related product initiatives and discussions pertaining to setting the optimal risk appetite by providing independent risk oversight and ensuring that growth initiatives are optimized for profitability; both risk and return.

• Ensures the documentation and delivery of accurate, concise reporting of levels and trends in material risks, emerging risks, asset quality, Key Risk Indicators (KRIs) and risk limits. Defines Consumer credit risk strategies and ensures credit risk-related operating procedures are consistent across all Consumer portfolios, and in alignment with applicable policies and standards. Leads the deep quantitative analysis of data to proactively identify and understand the drivers of portfolio risk and forecast portfolio performance.

Additional Accountabilities:

• Provides independent oversight on the performance of U.S. Consumer credit risk strategies, monitor trends, and identify risks and opportunities.

• Leads the execution of in-depth statistical analysis of portfolio data to support recommendations to enhance the portfolio risk-return profile. Ensures consistency in analytics and reporting across all consumer products.

• Maintains an understanding of current applicable regulatory requirements for consumer loans, anticipates the impact of regulatory changes to portfolio management activities and monitoring and communicates regulatory issues and requirements to ensure U.S. Consumer Credit function is well equipped to manage credit risk

• Identifies risk and opportunities from current portfolio trends, ensure comprehensive analyses are performed to dimension portfolio risk concerns, as well as identify root cause drivers. Applies understanding of trends to recommend changes in portfolio strategies.

• Establishes and maintains appropriate scorecards, KRI metrics, and portfolio caps in order to effectively manage the risk inherent in the U.S. Consumer portfolio.

• Monitors portfolios in aggregate and within key segments to effectively manage exposure to higher risk borrower segments.

• Serve as an escalation point for the resolution of the most complex issues identified through the Consumer portfolio monitoring process.

• Drives proactive improvements in Risk Appetite processes to improve portfolio financial performance.

• Develops forward looking forecasts of portfolio trends and performance to enable early detection of emerging risks and development of risk mitigation plans.

• Oversees the development and execution of policies and procedures for portfolio monitoring, ensuring policies are aligned with Consumer Lending and Small Business goals and that the strategies and guidelines reflect the risk appetite established by the enterprise.

• Applies expertise in portfolio performance and current economic and regulatory environments to advise changes to underwriting guidelines.

• Offers insights and recommendations to senior risk management to modify or create policies, procedures and any other risk management efforts related to consumer loan portfolios.

• Provides consumer loan portfolio governance and oversight to LOB management regarding the development and execution of LOB strategies. Applies in-depth understanding of portfolio performance and risk drivers to recommend alternatives and direction.

• Approves LOB product and program development through established processes, in accordance with Bank and regulatory standards and requirements. Provides Consumer Risk perspective into marketing efforts and product pricing strategies based on portfolio performance and risk analyses.

• Collaborates with LOB personnel to support the effective introduction and communication of new strategies and products. Serves as a Consumer Risk resource by providing additional information and responding to questions.

• Provides independent, timely, objective credit adjudication decisions on Consumer and Small Commercial transactions within assigned credit limits including policy exceptions.

• Communicates effectively with line employees to ensure rationale and decision is clearly understood.

• Supports line of business in growing a profitable Retail loan portfolio while ensuring that the credit granting provided is within the Bank’s risk tolerance.

• Provides credit expertise in support of credit policy and process initiatives.

• Identifies any potential gaps in the Retail lending process and works with the line of business to resolve.

• Provides leadership and guidance to a team of highly technical Portfolio Risk Management and Consumer Credit personnel within a culture that promotes continuous learning/development opportunities.

• Recruits, leads, manages and develops a diverse team of Portfolio Risk Management and Consumer Credit professionals using effective training, performance assessment and coaching techniques.

• Provides planning, leadership and direction to employees in order to align tasks and assignments with Consumer Risk Management and Bank goals and objectives.

• Applies the Bank's performance management system to subordinates, including establishing goals and objectives, assessing skills and knowledge gaps, allocating resources to achieve objectives and close gaps, and assessing personal effectiveness.

• Models and encourages appropriate high-performance behaviors to ensure behaviors within the team are congruent with BMO’s values and culture.

• Ensures the effective implementation of Bank initiatives and programs through the establishment of appropriate context and setting of direction for direct reports by providing relevant information, establishing goals, and setting limits with the context and prescribed limits of the group head.

Skills and Knowledge:

• MBA or Masters/PhD level quantitative degree (i.e., statistics, mathematics, economics, finance, operations research, engineering, or another related field

• 15+ years of deep Consumer risk and portfolio management experience

• 10+ years of experience of line relationship/transactional credit and consumer underwriting experience

• 10+ years of managing a team of highly analytical, quantitative, and technical resources

• Credit qualified

• Requires a unique combination of Consumer credit granting, BMO lending processes, analytic capabilities, and strong communication skills to oversee the development of policy and automated decision strategies that are optimized to perform within the bank’s approved Risk Appetite and that provides improved financial gain and/or reduces financial loss as well as to communicate any changes to executives across U.S. P&BB

• Advanced knowledge of Consumer Basel and the necessary elements of maintaining regulatory compliance

• Advanced knowledge of credit methodology, risk-return optimization and capital management

• Excellent understanding of linkage between Credit risk strategies and Bank’s financial management

• Expert knowledge of Consumer credit analysis including understanding and application of behavioural scorecards and analytics

• In depth knowledge of complex consumer credit transactions with regard to underwriting, loan structure, documentation, and origination channel

• In depth knowledge of applicable regulatory and Bank policies and procedures related to consumer lending

• Expertise in data analysis systems and data mining tools, such as SAS, SQL, R, Knowledge Seeker

• Ability to manage team who use advanced highly quantitative techniques to access and analyze data from source systems

• Advanced knowledge of Credit Policies and processes

• In-depth knowledge of Risk Management theory, processes, and portfolio management reporting techniques

• Familiarity with government regulations relating to Consumer and Small Business credit activities and Consumer Reporting requirements

• Strong, proven leadership agility and highly developed Consumer portfolio management skills

• Synthesises, integrates, and weighs multiple considerations including logistical, professional, and competitive factors in key consumer risk decisions

• Highly and well developed analytical, quantitative, statistical, and problem-solving skills within a financial institution

• Ability to influence others

• Ability to understand the dynamics and implications of economic cycles in order to manage the Consumer portfolio effectively

• Strategic skillset necessary to forecast portfolio performance, build out function and partner with the line of business

• Expert analytical/systems thinking and conceptual/strategic thinking with the ability to executive upon identified and unidentified needs

Please note the target base salary range for this specific position is  noted as a range from $214,000USD to $240,000 USD

Compensation and Benefits:

Pay Type:

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.

Address:

Job Family Group:

Delivers an exceptional customer experience for a defined portfolio of high risk borrowing accounts by applying expertise to reduce the Bank’s loss exposure and manage risks. Advises internal and external stakeholders on complex, high-risk credit risk transactions and mitigation strategies. Makes credit decisions/recommendations in accordance with sound credit-granting principles and in compliance with Bank Policy & Procedures. Works with stakeholders to deepen relationships and grow the overall profitability of the portfolio.

• Works with stakeholders to ensure effectiveness of risk management controls, analysis and monitoring on a transactional and portfolio basis.
• Provides credit coaching, training and support to direct team and other stakeholders as required.
• Provides strategic input into business decisions as a trusted advisor.
• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
• Acts as a subject matter expert on relevant regulations and policies.
• May network with industry contacts to gain competitive insights and best practices.
• 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.
• Conducts independent analysis and assessment to resolve strategic issues.
• Acts as the prime subject matter expert for internal/external stakeholders.
• Ensures alignment between stakeholders.
• 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.
• 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.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• Supports credit due diligence activities for bank acquisitions or integration.
• Monitors the financial and risk performance of account portfolio; performs financial and risk analysis of customer and account information to provide insights and recommendations on how to improve quality, liquidity and Bank’s security position.
• Documents decisions on credit transactions with rationale that can be understood and explained to customers.
• Identifies and advises on terms, conditions and collateral requirements for the transaction decision as well as alternative solutions.
• Keeps abreast of economic and market developments within the portfolio to inform decision making and credit risk policies.
• Maintains and enhances knowledge around lending issues, including loan structure, collateral, foreclosure, bankruptcy and the various regulations that directly impact the Bank.
• Provides credit risk coaching and advice to sales & service employees to increase awareness of risk, policy, and knowledge of structuring transactions.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Builds effective relationships with internal/external stakeholders; includes legal and insolvency professionals and other consultants/advisors in the commercial business community.
• Gathers and formats data into regular and ad-hoc reports, and dashboards.
• Monitors and tracks performance and addresses any issues.
• Provides input into the planning and implementation of operational programs.
• Executes work to deliver timely, accurate, and efficient service.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.
• Broader work or accountabilities may be assigned as needed.

  Qualifications:

• Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Credit Qualifications and associated credit knowledge and skills according to the established qualification standards.
• In-depth / expert knowledge of banking products & services.
• In-depth / expert knowledge of industry trends and regulations.
• In-depth / expert knowledge of credit portfolio management policies & procedures, and financing guidelines.
• Seasoned professional with a combination of education, experience and industry knowledge.
• 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.
• Data driven decision making - In-depth / Expert.

Compensation and Benefits:

Pay Type:

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.