Manager, Independent Review - Toronto, Canada - BMO Financial Group

BMO Financial Group

Verified Company

Toronto, Canada

2 weeks ago

Posted by:

Sophia Lee

beBee Recruiter

Description

100 King Street West Toronto Ontario,M5X 1A1

If you're looking for your next dream job, consider this one in BMO's ERPM Risk group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture.

#ERPMDreamJobs

This position is located in Toronto and offers a hybrid work arrangement with at least 3 days per week onsite and other days remote.

Mandate

The role of Manager, Independent Review (IR), Credit Risk is a part of the Independent Review function within Capital Risk Management, Enterprise Risk, responsible for providing effective challenge of compliance and/or assessing compliance of Pillar I Advanced Internal Rating Based (AIRB) Approach for Retail and Wholesale Capital Models with regulatory requirements, as set out by the Office of the Superintendent of Financial Institutions Canada (OSFI).

Knowledge and Skills:

a) Knowledge

Undergraduate degree in related discipline: business, quantitative finance, accounting, economics, mathematics/statistics. Strong math and statistic skills preferred.
At least 7 years risk management experience at a financial institution or a consulting firm, in credit risk management, internal audit or regulatory compliance, including Model Development or Model Validation experience for credit risk capital models.
Knowledge of Retail and Wholesale Credit Risk Capital Models
Knowledge of Pillar I AIRB Approach, OSFI's Capital Adequacy Requirements (CAR) Guideline and related Implementation Notes
Knowledge of banking products and their risk characteristics, including Retail and Wholesale Credit Risk products
Knowledge of Corporate Audit processes

b) Skills

Strong quantitative skills
Statistics, Maths, Quantitative Finance.
Model Development and Validation experience for capital models (PD, LGD and EAD) preferred.
Excellent analytical skills and attention to detail and accuracy
Excellent communication skills both written and verbal
Excellent time management skills

Key Accountabilities

A. Conduct Independent Review of Pillar I AIRB Approach for Credit Risk Capital Models (75%)

For Credit Risk Retail and Wholesale AIRB Capital Models, provide effective challenge of regulatory compliance and/or assess regulatory compliance with OSFI's CAR Guideline and related Implementation Notes, including both New Models and Model Modifications.
Participate in the Enterprise Self-Assessment Process (SAP) for compliance with OSFI requirements.
Complete reviews of Capital Models, including Materiality Assessments (Quantitative and Qualitative) and Integration, Operations and Controls (IOC) as set out in the OSFI A2 Implementation Note Capital Model Assessment Program (CMAP).
Complete and document assigned reviews in accordance with established IR Standard Operating Procedure (SOP) on an annual basis or within timelines required.
Form a view of the status of compliance for Capital Models; identify Findings (gaps to full compliance) and Recommendations (areas for improvement), as well as completion of impact assessments.
Ensure accurate and regular reporting within appropriate issues management systems.
Prepare comprehensive and professionally written results which include Findings and Recommendations for stakeholders and executive audiences.
Maintain effective challenge and compliance assessment supporting documentation in auditable form.
Under the guidance of the Senior Manager and/or Director, undertake other activities, as required.

B. Relationship Management (20%):

Interact on a crossfunctional basis with 1st, 2nd, and 3rd line stakeholders, while maintaining independence.

C. Change and Innovation (5%):

Provide recommendations to support continuous improvement of the Independent Review process to increase the efficiency and to support Lines of Business revenuegeneration activities consistent with Ambition 2025.

Compensation and Benefits:

$74, $138,600.00

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.

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