Director, Product Management - Specialized Lending

at  BMO Financial Group

33 Dundas Street West Toronto Ontario,M5G 3C2
We’re looking to change the way the world banks and you could be part of it. If driving change and making a difference is of interest, then come join our product management team. Be part of the change and help customers make real financial progress with differentiated product strategies, value propositions, and marketing offers; by developing and applying risk and return approaches and expert capability in portfolio and individual deal credit risk management; and leading cross functional teams to drive differentiated value for customers and bottom line impact.
Be a part of a winning team and understand how your work contributes to your team’s and BMO’s success through clear objectives setting and a transparent focus on outcomes. Feel the sense of belonging and respect that you value. Be inspired by a culture and colleagues to achieve your goals and find new path to success. Take pride in knowing you’re improving the lives of our customers, colleagues and communities. Experience the balance, support and flexibility you need with flexible work options, benefits that go beyond the basics to support you and your family in living well physically, mentally, socially and financially.
As the Director for Specialized Lending, you will be responsible for the management of Bank of Montreal’s Student Lending, Specialized Programs and Retail Auto Loans portfolios. You will lead the development of strategies with P&L (profit and loss) accountability to enable the sales force to effectively sell and service products, while improving the customer experience. As part of this work, you will carry market research, forecasting, pricing, and competitive analysis. All with a goal of delivering best in class experiences for our customers, with programs that deliver on customer needs. The incumbent will be a member of the Personal Lending and Home Financing leadership team and will report to the Head of Personal Lending and Risk Transformation.

Key Accountabilities:

• Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
• Make strategy and new initiative recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding.
• Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
• Develops an expert understanding of business/group challenges.
• Identifies emerging issues and trends to inform decision-making.
• Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution.
• Develops sales strategy, growth metrics, and plans to achieve sales objectives.
• Leads a team of 4 people to drive Product Management

Leadership & Management:

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• Ensures alignment between values and behaviour that fosters diversity and inclusion.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.

Product Management & Development:

• Develop product expertise and intimately understand all aspects of product performance and drivers (market, financial, business) to inform product features and benefits and drive recommendations for improvement.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Develops business cases by identifying needs, analyzing potential options, and assessing expected returns on investment.
• Oversees the development of business analytics and insights (e.g. portfolio profitability tracking, customer analytics, revenue forecasts, operations metrics, trend analytics, and predictive modelling).
• Understands and oversees end-to-end customer experience that may include interactions with clients and sales.
• Develops and implements action plans that meet financial and growth metrics.

Governance and Risk Management:

• Acts as a subject matter expert on relevant regulations and policies.
• Manages risk associated with portfolio of products, including setting risk parameters and tolerance for credit losses.
• Work closely with partners to manage Operational Risk, Compliance, Collections and more.
• Lead compliance activities specific to portfolio, understanding the external regulatory and legal environment and mitigating risks to an acceptable level.

Knowledge and Skills:

• 5+ years of Product Management or Strategy Development experience
• Experience presenting to senior leadership and crafting stories to articulate business issues succinctly
• MBA, B.Eng or equivalent work experience required
• P&L Management Experience is an asset
• Credit Risk experience is an asset
• Experience in large program delivery is an asset
• Experience working in a matrixed environment to deliver campaigns marketed to customers

Please refer the Job description for details