Manager, Regulatory Capital Governance

Address:

The role is part of the Regulatory Capital Oversight (RCO) team, which is responsible for governance and oversight of the Bank’s end-to-end BCAR and CAR self-assessment processes within ERPM. Together with other teams in ERPM, RCO also serves as a member of the Bank’s Basel Interpretation Office (BIO), the centralized decision-making body for regulatory capital-related interpretation matters for the Bank. The role will serve as the primary resource for governance and oversight of regulatory capital interpretations within BIO. As Manager, Regulatory Capital Governance, your responsibilities will include:

• Governance and Oversight - provide support in effective governance and oversight of the interpretation of Basel regulatory capital requirements across the bank, including OSFI CAR guidelines, Implementation Notes and related guidance, as well as regulatory requirements of foreign jurisdictions in which the bank operates

• Stakeholder Engagement - coordinate with multiple stakeholder groups across the bank, including BCAR process owners within Credit Risk, Market Risk and Operational Risk reporting teams to provide guidance on regulatory requirements applicable to their respective processes

• Provide support in coordinating the bank's approval process for rule interpretations and regulatory capital treatment

• Innovation - contribute to the development, maintenance and enhancement of a centralized repository for approved regulatory treatments across the bank, along with the associated tools and technology

• Provide research and analysis in support of decision making relating to requirements under current guidelines, and towards enhancement of the governance framework to reflect regulatory developments, changing regulatory expectations and emerging risks in the regulatory environment.

Core Accountabilities

• Supports all aspects of the team's activities related to interpretation requests and inquiries from stakeholders, including coordination of the approval process for interpretation requests.

• Provides subject matter expertise on Basel regulatory capital (including OSFI CAR guideline) requirements and works with stakeholders, when engaged, in obtaining clarity of regulatory requirements for compliance

• Provides research and analysis in support of decision making related to interpretation requests, rule changes and capital treatment of CAR guideline requirements

• Participates in monitoring, measurement & reporting on the status of the governance framework to senior executives

• Develops and maintains a central repository of approved regulatory treatments

Specific Accountabilities

Advisory

• Provides advice and guidance to specific stakeholder groups on the interpretation of regulatory requirements, including effective challenge and resolution of interpretation disagreements between stakeholders.

• Provides specialized consulting, analytical and technical support.

• Exercises judgment to identify, diagnose, and solve problems within given regulatory requirements.

Operational Management

• Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures; management of review/updates to policies, etc.

• Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.

• Documents the internal control governance system, processes and framework to describe compliance requirements, activities, processes, roles & responsibilities.

• Works independently and regularly handles non-routine situations.

• Assists in the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.

• Reviews processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls.

Relationship Management

• Builds effective relationships with internal/external stakeholders and ensures alignment between stakeholders

• Consults with stakeholders to improve consistency and transparency of rule interpretations and control measurement/metrics and reporting.

• Focus is primarily on stakeholder groups within BMO, with enterprise-wide scope.

Change Management

• Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.

• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.

• Participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.

• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.

Strategic Initiatives

• Develops governance and control-related solutions and makes recommendations which leverage an understanding of the business strategy and stakeholder needs.

• May provide specialized support for other internal and external regulatory requirements, including regulatory requirements pertaining to emerging risks and other regulatory developments.

Data Management

• Coordinates the management of databases; ensures alignment and integration of data in adherence with data governance standards.

• Develops tools, checklists and communications to address gaps, issues and new requirements.

• Monitors and tracks performance; addresses any issues.

Broader work or accountabilities may be assigned as needed.

Qualifications:

This is a hybrid role requiring 2 days in the Toronto office (subject to change)

• Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• Regulatory capital expertise - in-depth knowledge of Basel regulatory capital requirements, including OSFI’s CAR guideline, Implementation Notes and related guidance

• Strong conceptual knowledge of regulatory capital and risk management frameworks - In-depth.

• Strong knowledge of regulatory capital reporting (BCAR) processes and procedures

• Experience in capital management, risk management, audit, compliance, governance and/or project management is preferred.

• In-depth knowledge of business and regulatory environment.

• Deep knowledge and technical proficiency gained through extensive education and business experience.

• Verbal & written communication skills - In-depth.

• Collaboration & team skills - In-depth.

• Analytical and problem-solving skills - In-depth.

• Influence skills - In-depth.

• Stakeholder management and relationship building – Strong.

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 https://jobs.bmo.com/ca/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. 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.