Manager, Credit Risk Governance and Oversight

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Senior Manager overseeing credit risk governance, reporting, and regulatory compliance across BMO’s retail lending portfolio.

Lead stakeholder engagement, quality control initiatives, and strategic risk frameworks for auto and mortgage lending.

Job Overview

Title: Manager, Credit Risk Governance and Oversight

Location: Toronto, ON, CAN

Description: Application Deadline: 07/09/2026

Address: 33 Dundas Street West

Job Family Group: Audit, Risk & Compliance

Leads the monitoring, measurement, and reporting of the Credit Risk governance program, providing clear status updates to internal and external stakeholders.

Oversees governance forums and maintains mandates, oversight structures, and approval protocols for governing bodies.

Provides specialized support for regulatory requirements, as needed, ensuring alignment with internal standards and external expectations.

Leads or contributes to the design, implementation, and management of core credit risk governance processes.

Identifies and escalates control deficiencies in accordance with guidelines, ensuring timely remediation and effective post-implementation monitoring.

Provides independent advice and effective challenge to business/group stakeholders on the implementation of the credit risk framework.

Coordinates and executes oversight and governance activities, including reporting, training needs assessments, development and delivery of training, and administration of regulatory processes and procedures.

Partners with stakeholders to enhance the consistency, transparency, and quality of risk measurement, metrics, and reporting.

Supports the development and ongoing maintenance of the credit risk governance framework, including policy, standards, and procedures lifecycle management, as well as associated training and education.

Maintains a strong understanding of business activities, credit risk practices, and applicable regulatory and legislative requirements.

Coordinates and monitors the review and sign-off of regulatory reporting and attestations.

Provides specialized consulting, analytical, and technical expertise, primarily supporting business/group needs with potential enterprise-wide impact.

Exercises sound judgment to assess, diagnose, and resolve complex issues within established frameworks, operating independently and effectively managing non-routine situations.

Qualifications

Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

In-depth knowledge and understanding of credit risk management practices.

In-depth knowledge of regulatory requirements and legal documentation.

In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.

Deep knowledge and technical proficiency gained through extensive education and business experience.

Verbal & written communication skills - In-depth.

Collaboration & team skills - In-depth.

Analytical and problem solving skills - In-depth.

Influence skills - In-depth.

Data driven decision making - In-depth.

Additional skills welcomed

Understanding of SaaS;

Understanding of Power BI

Data analytics experience

Credit risk experience

Manager reporting

The Manager, Credit Risk Oversight and Governance reports to the Director, Credit Risk Oversight and Governance, and provides independent second‑line oversight in support of the Bank’s overall credit risk management framework. The role supports Senior Management by delivering objective assessment, challenge, and assurance over credit risk practices within the Retail Lending portfolio.

Accountabilities

• Provides independent oversight, monitoring, and reporting of credit risk for Auto Loan decision strategies, and supports the development and ongoing management of BMO’s enterprise credit risk governance framework.
• Supports relationship management with Canadian credit bureaus, including resolution of source system issues, portfolio reporting matters, project initiatives, large-scale implementations, and providing guidance to senior leadership as required.
• Accountable for governance and oversight of mortgages originated through third parties, including providing advice on policies, standards, methodologies, and controls to enhance transparency, accuracy, and consistency across the business.
• Provides governance oversight for 2nd Line Credit Risk functions, including Loan Review and Appraisal Review, ensuring alignment with established frameworks and regulatory expectations.
• Identifies, escalates, and manages emerging concerns, trends, and issues with 1st Line partners, applying effective challenge and ensuring appropriate follow‑up.
• Partners with key stakeholders to deliver 2nd Line credit risk oversight, including guidance on methodologies, metrics, and program standards for assigned portfolios, ensuring compliance and clear action planning.
• Accountable for the delivery of the quarterly B‑20 dashboard, including coordination and collaboration with key stakeholders to ensure accuracy and completeness.
• Oversees the CCAP entitlement process, ensuring adherence to established standards and ongoing compliance.
• Provides governance oversight of credit qualifications, including approval of job code requirements, review and guidance on training materials developed by the 1st Line, assessment of exemption requests, and ongoing collaboration with HR and Credit Qualification Administration teams.
• Support strategic relationships and initiatives with external stakeholders (e.g., credit bureaus), and contribute to large‑scale projects, data integrity improvements, and senior management reporting.

Key Traits and Approaches

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.
• Ensures alignment between values and behavior 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.

Successful Candidate Skills

• Guides/assists in the identification and classification of issues; recommends action plans.
• Identifies emerging issues and trends to inform decision‑making.
• Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.

Regulatory & Compliance

• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• completes a quarterly regulatory review of all applicable OSFI B20 Artifacts; present trends and findings to senior leadership
• Ensures alignment between stakeholders.
• Part of the artifact delivery team that represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
• Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.

Salary

$69,000.00 - $129,000.00

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 .

Legal & Inclusive Workplace Statement

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.

Recruiter Policy

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.