Manager, Credit Risk Oversight & Governance

BMO; Toronto; On-site; CAD 70,000 - 150,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Retirement savings plans

Job summary

BMO Financial Group is seeking an experienced Credit Risk Governance professional in Toronto to oversee retail lending portfolios and challenge underwriting practices. You will develop and maintain risk frameworks, monitor performance, and report to senior management.

Ideal candidates bring 5–7 years in credit risk, strong data analytics skills (Python/SQL/Power BI), and the ability to influence stakeholders across risk and business teams.

Qualifications

• 5-7 years of experience in Credit Risk Management or related fields.
• In-depth knowledge of Retail Lending, risk frameworks, and governance.
• Strong data analytics and reporting skills with Python/SQL/Power BI.
• Experience providing independent oversight and risk-based recommendations.
• Effective communication and stakeholder influence.

Responsibilities

• Provide independent second-line oversight of retail lending portfolios.
• Identify emerging risks and monitor KPIs.
• Challenge first-line credit strategies and underwriting.
• Develop and maintain credit risk governance frameworks.
• Prepare executive-level reporting and recommendations.
• Build relationships with business, risk, and regulatory stakeholders.
• Lead governance enhancements and strategic initiatives.
• Represent risk program during audits and regulatory reviews.

Skills

Credit risk management

Risk governance

Data analytics

Python

SQL

Power BI

Stakeholder communication

Independent oversight

Education

Bachelor's degree in a relevant field

Tools

Power BI

SQL

Python

Job description

Provides independent second-line oversight of retail lending portfolios through data-driven risk analysis, portfolio monitoring, and effective challenge of first-line credit strategies, underwriting practices, and risk management decisions. Develops, maintains, and enhances credit risk frameworks, policies, standards, governance processes, key risk metrics, and reporting to ensure alignment with the Bank's risk appetite, regulatory requirements, and sound risk management principles. Leverages portfolio performance data, emerging risk indicators, and industry insights to identify trends, assess risk exposures, challenge assumptions, and influence risk-informed decision making. Partners with business and risk stakeholders to strengthen controls, ensure policy compliance, monitor remediation activities, and drive timely action on identified risks and governance issues.

• Provides independent second-line oversight of retail lending portfolios, credit strategies, and risk-taking activities to ensure alignment with risk appetite, regulatory requirements, and sound risk management practices.
• Identifies emerging risks, trends, and vulnerabilities through data-driven analysis, portfolio monitoring, and assessment of key risk indicators.
• Provides effective challenge and independent review of first-line credit strategies, underwriting practices, policies, controls, and risk management decisions.
• Leads the development, enhancement, and maintenance of credit risk governance frameworks, policies, standards, methodologies, and risk metrics.
• Monitors portfolio performance and risk exposures; identifies issues, recommends corrective actions, and escalates concerns in accordance with established governance processes.
• Leads the monitoring, measurement, and reporting of credit risk and governance program effectiveness to senior management, risk committees, and other stakeholders.
• Represents the credit risk governance program during internal audits, regulatory reviews, and examinations.
• Interprets emerging regulatory requirements and industry best practices and assesses impacts to credit risk frameworks, policies, and governance processes.
• Influences business decisions through risk-based insights, independent analysis, and recommendations that support prudent risk-taking and portfolio performance.
• Acts as a trusted advisor to business and risk partners, providing guidance on the implementation of credit risk frameworks, governance requirements and effective challenge practices.
• Builds and maintains effective relationships across business, risk, compliance, and regulatory stakeholders to promote transparency, consistency, and alignment.
• Leads or supports strategic initiatives, process improvements, change management activities, and governance enhancements that strengthen the overall credit risk management framework.
• Prepares and delivers executive-level reporting, presentations, and recommendations for senior management and governance committees.
• Fosters a high-performance culture by role-modeling BMO Values, supporting employee development, promoting collaboration, and encouraging diversity, equity, and inclusion.

Qualifications

• Typically between 5-7 years of relevant experience in Credit Risk Management, Risk Oversight, Governance, Retail Lending, or an equivalent combination of education and experience.
• In-depth knowledge of Retail Lending products (Residential Real Estate Secured Lending and Personal Lending), credit risk management practices, and portfolio risk monitoring.
• In-depth knowledge of credit risk frameworks, governance practices, risk policies, controls, testing methodologies, and applicable regulatory requirements.
• In-depth technical proficiency in data analytics and reporting tools, including Python, SQL, Power BI, or equivalent platforms.
• Demonstrated experience providing independent oversight, effective challenge, and risk-based recommendations to business and risk stakeholders.
• Strong analytical and problem-solving skills, including the ability to leverage data, portfolio insights, and key risk indicators to support decision making and identify emerging risks.
• Verbal and written communication skills, collaboration skills, and influence skills, with the ability to communicate complex risk issues to a broad range of stakeholders.
• Data-driven decision making skills and the ability to exercise sound judgment while managing multiple priorities in a dynamic risk environment.

Salary

$70,000.00 - $150,000.00

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. 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

About Us

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.