Associate, Reconcilation, Collateral Management Group - BMO Financial Group - Toronto, ON
KEY AREAS OF ACCOUNTABILITY
Change Management Product and Process Management Risk and Control Business Performance Management ACCOUNTABILITIES Change Management Represent CMG Reconciliation Team on projects and initiatives to provide business-specific context, information and analysis on proposed changes. Initiatives may include the development and implementation of new/ revised products, new systems or enhancements, new/ revised processes in support of internal efficiencies and industry regulatory changes. Represent CMG Reconciliation Team during change impact analysis and business requirements gathering, implementation planning and support, and issue escalation. Act as the primary contact for new and/or revised CMG Reconciliation Team projects and initiatives, and liaise with other business units such as LOB, Finance Shared Services, Credit Risk, Market Risk, and the Documentation Group (DG) and external systems providers to ensure business interests are represented and understood. Review, assess and recommend business readiness situations for new product introductions and feasibility of internal and external systems. Advise the business to successfully accept changes in process and systems by informing key stakeholders of the implications of changes; recommend actions, as appropriate. Develop business cases for initiatives, using knowledge of service offerings, products and processes. Provide coaching and training to other staff from time to time. Assess opportunities for the migration of work in or out of assigned business units..May coordinate and/or implement test plans, test cases, training strategy development, training plans, parallel test strategy and plans, test documentation/ test specifications. Partner with TD RMG to ensure system application design specifications developed by TD RMG meet the business unit expectations/ requirements, and participate in the negotiation of solutions. This role also has specific functional accountability, or area of specialization, in one or more of the following: Project Delivery Act as the liaison and intermediary for the delivery of assigned change management initiatives, ensuring business impacts and requirements for successful implementation of initiatives for CMG Reconciliation Team are accurately and thoroughly defined and understood. Intake and Assessment Create, maintain and advise on intake and assessment processes for new business, projects and/or policy changes initiated by the business unit and/or internal business partners; act as subject matter expertise (SME) on projects for matters related to intake and assessment. Implementation Management Support the implementation and maintenance of process and system changes to ensure CMGs business requirements are accurately defined, business implications and impacts of initiatives to CMG and its related stakeholders are understood, and leadership decisions regarding change initiatives are informed through a thorough and thoughtful analysis and recommendations. Ensure common application of standards and consistency of implementation in accordance with Bank standards and practices. Ensure the overall implementation of change (technological, procedural, process and organizational) is timely, efficient, aligned to CMG Reconciliation Teams business priorities and consistent with the Banks overall strategy. Define and document user requirements, partnering with project teams as needed, to create manuals, training material/or job aids. Facilitate and/or participate in post-implementation activities. Product and Process Management This role may also have specific functional accountability, or area of specialization, in process management : Act as SME to translate business objectives into plans that can be implemented for small initiatives, including process redesign to compliment the change management/ product support strategy for CMG Reconciliation Team, adhering to and maintaining established standards and practices; represent technical business needs and requirements in the introduction of new/ revised processes and systems. Identify any issues that may exist in CMG and provide solutions to these challenges and initiatives, where necessary. Identify new opportunities for improving processes for efficiency, responsiveness and controls. Identify, recommend and implement process improvements/ changes during technology projects and initiatives. Investigate and resolve system or process corrections and adjustments affecting CMGs processes and effectiveness. Contribute to the development of business planning, technology planning and process development related to change initiatives. Act as the central point of contact for problem escalation from CMG Ops team and other relevant areas. Contribute to the provision of workflow/ procedure training for team members, as required. Participate in external and internal audits, as required. Risk and Control Responsible for investigating, resolving and escalating collateral disputes that exceed internal tolerance levels in accordance with established dispute resolution procedures. This activity includes reconciling portfolio valuation differences with the Banks counterparties and providing detailed analysis of the cause of a dispute to appropriate areas in accordance with established procedures. Responsible for pro-active reconciliation. This activity includes investigating and reconciling portfolio mark-to-market (MtM) differences with identified counterparties and escalating differences in accordance with established procedures. Follow through and complete investigations for trades that have been identified as having valuation differences that have breached internal tolerance levels, as set out in the Capital Markets Financing Guideline for Collateral Management (CMFG).Reconcile collateral positions in the Sentry collateral management database against BMOs book-of-record systems such as ICI and IBUK to ensure accuracy. Analyze and produce collateral management reports for key client groups on a daily, weekly, monthly and on ad hoc basis. Understand regulatory and compliance requirements as prescribed for CMG, such as CMFG, and provide recommendations and implement actions to ensure adherence, as required. Adhere to project industry standards and requirements and ensure they are followed and assessed against current practices and policies. Mitigate audit exposures and maintain awareness of regulatory impacts of change initiatives. Review policy and procedure (PandP) updates for potential impacts that require assessment of changes introduced. This includes CMG operating procedures and CMFG. Identify potential risk situations within the scope of work (e.g., risk assessments), make recommendations and/or escalate to the manager, where appropriate, and ensure contingency plans exist. Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business. Ensure adherence to all aspects of First Principles, Our Code of Business Conduct and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, P and Ps, e.g. CMFG, for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities. Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with CMG procedures, CMFG and Bank P and Ps. Follow security and safeguarding procedures as outlined in CMG procedures and in CMFG and apply appropriate due diligence in accordance with Bank policy for the prevention of loss due to such things as fraud or defalcation. Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate action, ensuring compliance requirements, audits and verifications are completed in accordance with Bank PandPs, e.g. CMFG. Business Performance Management Coordinate the issuance and tracking of problem trackers and system and process enhancements raised with internal and external system providers. Support the delivery of exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support. Align individual performance goals to team and organizational goals. Demonstrate behaviours that are consistent with Our Way model and aligned with BMO values.
AUTHORITIES
This role has the authority to: Recommend system changes, access to systems, requirements specifications and process improvements. Create and implement User Acceptance Testing (UAT) plans, and recommend actions related to results. Access data and line of business information required to fulfill accountabilities. Collect data, business performance information and results from internal and external business unit senior managers. Interpret PandPs.
Qualifications
Knowledge: University degree/college diploma or equivalent work experience5 to 7 years of related work experience Industry related training (e.g. ISDA conferences)Solid experience with collateral management processes Familiar with established process analysis and improvement tools Familiar with products, operations and market practices as relates to collateral management Solid knowledge of testing strategies, test plans and execution Solid knowledge of conversion, parallel and implementation processes Strong knowledge of process and/or project management Solid knowledge of standard desktop applications used by the business unit Solid knowledge and understanding of the business units key products and services, processes and controls Solid understanding of the business units risk and regulatory requirements Solid knowledge of the business units transaction fulfillment procedures Solid knowledge of departmental systems and applications Solid understanding of internal business partners business, services and organization Skills : Strong analytical and problem-solving skills, with ability to analyze a component or components of a process to optimize system functionality Strong decision-making skills Tolerance and flexibility for resolving ambiguities Strong change management skills Strong prioritization skills Strong planning skills (re finance, resource, strategy, business)Solid risk management skills Strong customer service and relationship management skills Strong facilitation/ presentation skills Strong conflict management/ resolution skills Coaching, mentoring and training skills Strong teamwork and team leadership skills Strong written and oral communication skills, with the capability to present and articulate complex concepts Strong multi-tasking skills covering a wide range of challenges which are independent and distinct Ability to translate business requirements into system solutions according to Bank standards Ability to document requirements, acceptance test plans, conversion and implementation plans Ability to support CMG during business contingency
At our company, we have been helping our customers and communities for over 195 years. Working with us means being part of a team of talented and passionate individuals with a shared focus on working together to deliver great customer experiences. We stand behind your success with the support you need to turn your potential into performance.
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www.bmo.com/careers
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BMO Financial Group is committed to an inclusive, equitable and accessible workplace. By embracing diversity, we gain strength through our people and our perspectives. We welcome and encourage applications from people with disabilities. Accommodations are available on request for candidates taking part in all aspects of the selection process.
Job
Capital Markets
Primary Location
Canada-Ontario-Toronto
Organisation
Global Product Operations-X000070
Schedule
full-time
Job Posting
08/06/16
Unposting Date
08/31/16
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