BMO Financial Group Senior Manager, Credit in Chicago, Illinois
Credit adjudication is accountable for ensuring that the Bank’s lending practices are conducted within the boundaries of the Bank’s risk appetite and tolerances. Credit is accountable for ensuring that approved loans are in accordance with sound credit-granting principles and in compliance with Bank policies, procedures and guidelines.
The Senior Manager, Credit is accountable for overseeing the transactional credit function for multiple Regions or Segments within P&C/PCG U.S. and leading a team of Credit Officers towards the achievement of business objectives. The Senior Manager, Credit is accountable for providing independent, objective review and approval to credit applications and other related matters which have been recommended by Line Management. The role is accountable for ensuring the team maintains the required internal control standards, including adherence to audit, regulatory and compliance policies.
This role will contribute to various strategic initiatives from a credit perspective, will participate in credit acquisition due diligence and integration activities.
This role is responsible for monitoring the commercial borrowing portfolio , primarily through transaction review and exception reports within assigned Regions/Segments, to ensure conformity with P&C/PCG U.S. lending policies and procedures.
The Senior Manager, Credit is also responsible for working with the Lines of Business to review new industry specific policies and procedures and/or financing guidelines to ensure the effort is within the risk appetite and overall risk tolerances of the Bank, as appropriate.
Adjudicate credit transactions/applications within assigned credit limits in a timely manner.
Accountable for providing independent, objective review and approval to credit applications and other matters which have been agreed to and/or recommended by Line Management. Responsible for monitoring the Lines of Business commercial borrowing portfolio, primarily through transaction review and exception reports, to ensure conformity with the Bank's lending policies and procedures.
Provide decision on adjudicated credit transactions/applications and communicate effectively with line employees to ensure rationale and decision is clearly understood. Provide approval for exceptions according to established policy and standards.
Act as the center of competency for the Bank’s policies and procedures, financing guidelines, etc.
Monitor and ensure accuracy of credit adjudication of team members.
Communicate with line employees about specific credit applications and transactions to seek further information and modification, discuss appropriate structuring for the deal, and criteria required for credit. Judge that the information is credible, accurate, and relevant, including analysis and evaluation of the technical aspects (e.g., financial analysis, credit terms, structure, collateral) to ensure the deal is within Bank policy and standards. Ask thought-provoking questions.
Proactively identify and advise line employees of opportunities for additional sales opportunities (cross-selling and/or a better solution to meet the customer’s needs).
Respond to and resolve escalated issues raised by the Line of Business Management. Adjudicate elevated credit transactions/applications in accordance with Bank policy and standards within a timely manner.
Oversee exception reporting, if appropriate.
Support line of business in growing a profitable commercial loan portfolio while ensuring that the credit granting provided is within our prescribed asset quality standards.
Provide appropriate guidance and assistance in fine tuning and structuring specific financing proposals for commercial customers to meet the customer needs within the Bank’s defined risk parameters.
Proactively oversee management of the portfolio through regular monitoring of PDs, PDMs, PDARs, etc. Assist in validating activities are sufficient to meet tolerances both in the short- and long-term. Escalate findings as appropriate.
Align market assignments with departmental goals and objectives through planning, leadership and direction to team employees.
- Assist credit due diligence activities for mid-size banks and assist Senior Manager Credit and other Risk Partners in credit due diligence on larger bank acquisitions.
Champion change by creating an environment that promotes change.
Act as role model by promoting successful change efforts.
Be comfortable debating different points of view.
Leverage and deliver to the business personal experience and knowledge, understanding of internal & external environment to create new concepts, models and deliverables.
Demonstrate courage and confidence to win.
Create a culture which thoughtfully considers the needs of partnering organizations (existing and through acquisition).
Design and develop team capability that enhances effective partnership with other functions.
Build forward thinking strategies within the business unit utilizing market/environmental awareness to meet organization goals, objectives, performance measures to increase shareholder value.
Communicate strategically, taking stakeholders into account.
Uses market/environmental awareness to achieve objectives.
Adapt negotiation strategies to achieve objectives.
Align the team’s strategic direction to create value add to the organization.
Create talent management culture to promote a supportive, people oriented organizational culture.
Provide leadership, coaching and fostering collaboration towards the attainment of team and individual goals (includes advising or instructing team members on how to proceed with specific loan scenarios).
Manage people by creating motivational environment and providing constructive feedback to team members.
Accountable for providing the necessary direction, leadership and supervision of the team credit function with particular attention to training and development to ensure management continuity. Includes the assessment of employees to ensure employees obtain in-depth technical and product knowledge. Apply the Bank’s performance management system including establishing goals and objectives, assessing skill levels and knowledge gaps, reviewing PPA performance, recommending base and variable pay and conducting career planning discussions.
This position requires Credit Qualification. The incumbent must possess an in-depth level of Credit knowledge and skills and an in-depth level of Portfolio Management knowledge and skills according to the standards established within the Credit Qualification Process Policies & Procedures.
Graduate degree in Finance, CPA, CFA, or MBA, or at least 10 years of relevant work experience in loan portfolio management, lending, or risk management.
Experience with loan workouts preferred, identification of early warning signals and management of problem accounts.
In-depth knowledge of P&C U.S. banking products and services.
In-depth knowledge of banking industry trends, regulations and relative means of governance.
In-depth knowledge of loan documentation.
In-depth knowledge of underwriting guidelines, policies and procedures.
In-depth knowledge of Basel risk rating methodology and AIRB Basel II requirements.
Working knowledge of Capital Markets Trading Products (e.g. interest rate swaps and foreign exchange), evaluation methodologies and replacement risk excesses and violations
Proven leadership skills and highly developed coaching skills.
Expert communication and relationship management skills.
Previous management experience preferred.
Planning and organizing skills and ability to manage multiple priorities
Excellent judgment, logic and reasoning.
Knowledge of and ability to execute Risk Management practices and strategies.
At BMO Harris Bank we have a shared purpose; we put the customer at the center 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 Harris Bank 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://bmoharriscareers.com/
BMO Harris Bank 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 Harris Bank is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.