In this newly established position, the Senior Manager, BCAR Central Team, is responsible for the end-to-end BCAR process. This role will collaborate with key functions within BMO, including businesses, risk management, finance and technology, to
Develop an efficient and sustainable processes and systems for end-to-end BCAR reporting.
Lead key functions responsible for BCAR inputs to formulate recommendations and continuously improve the BCAR process.
Oversee development of multiple regulatory work streams covering capital supply, credit risk, market risk and operational risk; to advocate risk integration, avoid gaps and overlaps, and minimize capital arbitrage between banking book and trading book,
Understand and interpret the Basel capital requirements including proposed changes in banking regulations and provide recommendations on how the Bank should position itself to best accommodate changes.
Communicate and influence strategic planning and other decision making in a constructive way.
Provide OSFI with evidence that BMO's regulatory capital framework addresses the Basel requirements.
Ensure all communication with banking regulators, including regular and ad hoc reporting, is accurate, consistent, and of high quality.
Complex products, processes and methodologies are being utilized in a rapidly evolving business and regulatory environment. This role adds value to BMO as it guides the development of efficient processes and systems to sustain continuous regulatory compliance. The Senior Manager provides expertise and consistent interpretation and guidance on regulatory capital assessment. The role is central to the establishment of consistent credit risk, market risk and operational risk practices across the Lines of Business. The individual in this role ensures
BCAR reporting is accurate and reliable,
regulatory compliance is established, and
appropriate levels of capital are correctly measured and reported.
Process and Continuous Improvement
Regulatory compliance & Risk Management
Relationship and Change Management
Governance for BCAR reporting
Process and Continuous Improvement:
Co-ordination of the RWA and BCAR inputs to the end-to-end Basel Capital Adequacy Reporting (BCAR) process.
Ensuring that the BCAR process has implemented the risk measurement and related RWA processes consistently across the enterprise
Develop and monitor key process metrics for the BCAR sub processes.
Assist the BCAR input process owners in identifying business and technical owners for activities within such processes and recommend process improvements to improve efficiency.
Proactively identify key risks/issues associated with RWA inputs into the end to end BCAR process and recommend actions to address these issues and enhance RWA inputs and BCAR accuracy.
Support internal audit in its review of BCAR processes related to RWA and BCAR inputs
Monitoring regulatory and business developments that may affect BCAR and proactively involve the respective BCAR stakeholders early in the process and manage process changes where applicable.
Regulatory Compliance and Risk Management:
Ensure BCAR and regulatory rule requirements for RWA are satisfied, with the necessary control points, and that such BCAR input processes are documented and maintained centrally.
Providing subject matter expertise on processing of risk data according to the bank's regulatory risk reporting requirements (BCAR) and related regulatory rules to support the 1st line of defence and 2nd line of defence in regulatory rule interpretation related to RWA and BCAR reporting.
Expertise in BMO banking and trading products and activities, their risk assessment and capital determination that meet regulatory requirements in a consistent manner across lines of business.
Liaise with key RWA and BCAR input process owners on BCAR rule interpretation and the accuracy and reliability of BCAR report and supporting information; support other SMEs in their regulatory capital rule interpretation.
Co-ordinate with other internal stakeholders on providing accurate and consistent messaging for all cross-department responses. Maintain a record of all RWA-related requests to OSFI and decisions made on RWA and BCAR reporting.
Act as subject matter expert for BCAR process changes and capital reporting requirements for any new initiatives, including acquisitions and/or divestitures, new product development, as well as broader process and IT change initiatives related to RWA and capital. Ensure the processes are part of the Business continuity planning process and are subject to a business impact analysis.
Relationship and Change Management:
Coordinate and provide directions where applicable on system and/or process changes and updates required to improve RWA and BCAR functioning and/or to address regulatory or business changes affecting capital demand and supply.
Monitoring and evaluating key RWA and BCAR inputs and reviewing documentation of BCAR input processes, to help ensure exposures and activities are accurately, reliably and consistently translated into regulatory capital requirements and BCAR reporting and the results are replicable.
Develop and maintain or require participants to develop and maintain, mapping and documentation of BCAR input processes, which fully supports the regulatory capital reporting practices that are sustainable during normal and also during times of stress and crisis.
Assist in updating the annual plan for BCAR input process with the involvement of all stakeholders and reviewed periodically for effectiveness.
Contribute in the designing of service level standards that are agreed and owned by each of BCAR input processes with respect to quality, availability and timeliness of information required for RWA and BCAR reporting.
Support the periodic validation and annual review of BCAR input processes and RWA reporting, to the stakeholders and to the central BCAR executive leadership team.
Monitor deficiencies and identify opportunities for improvements to RWA related processes; ensure corrective actions and mitigants are put in place.
Ensure adequate controls are maintained by RWA and BCAR input process owners and the data or information from such processes is consistent with regulatory risk measurement and reporting policies.
Qualifications Knowledge & Skills
Regulatory capital rules and BCAR requirements - expert knowledge
Process management - sophisticated ability to co-ordinate multiple contributors to BCAR and to assist them in improving and maintaining BCAR inputs - ability to create and administer a well-documented, transparent and replicable system that will translate activities and exposures into regulatory capital and BCAR requirements
Quality assurance and continuous improvement - ability to develop and lead ongoing processes to improve accuracy, reliability, consistency and timelines of BCAR
Specific knowledge of OSFI, Basel, US Fed, OCC and other regulatory requirements related to market risk, credit risk and operational risk, particularly related to capital adequacy
Knowledge of industry best practices related to market, credit and operational risk, regulatory compliance, and enterprise risk management
Knowledge of banking and trading products, services and activities and their regulatory capital and BCAR implications and industry trends
Understanding of systems and technology issues related to BCAR and the ability to direct systems and process changes
Knowledge of internal audit methodologies
Ability to coordinate with a team of SMEs in complex regulatory analysis involving multiple stakeholders
Ability to successfully interact and negotiate with multiple internal stakeholders to reach resolution of complex and contentious regulatory capital, BCAR, systems and process issues
Strong communication skills including speaking, written documentation, and presentations for management and external stakeholders
Excellent relationship management skills
Analytical skills related specifically to market, credit and operational risk measurement
We're here to help
At BMO we have a shared purpose; we put the customer at the centre of everything we do - helping people is in our DNA. For 200 years we have thought about the future-the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we're changing the way people think about a bank.
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://bmocareers.com .
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.
Internal Number: 6280113
About Bank of Montreal
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