The Manager, Exam & Audit Management is responsible for managing and coordinating exams, audits and risk assessments for US P&C Product Operations business units, including Deposit & Payment Ops, Corporate & Commercial Lending Ops, BMO Transportation Finance Ops, Product Control – US Lending & Deposits and US Independent Controls. In addition, for exams and audits involving P&C PO US led by another area (i.e. Originations, Servicing, Credit Risk Management, 2nd Line Compliance, Operational Risk), this position will serve as the point of contact and exam/audit manager for P&C PO US.
The position will execute the Exam and Audit Management Framework including pre-planning through fieldwork to post exam/audit support.
The position will also support in the development and implementation of remediation action plans necessary to address audit, examination or risk assessment quality review findings.
The position will develop and maintain strong working relationships with regulators, auditors (internal and external) and second line of defense partners (including corporate compliance).
Exam and Audit Management and Coordination (50%)
Business Partnership / Relationship Management (20%)
- Manage and coordinate P&C Product Ops US exams, audit and risk assessments (internal and external) activities
- Act as single point of contact for other business group’s exams and audits that require leadership, participation and involvement from P&C PO US business units
- Perform pre-exam/audit planning and preparation including documentation of pull lists, data / loan files and kick-off meetings
- Coordinate all exam and audit activities, meetings and communications during the fieldwork phase.
- Coordinate communication with the regulators and examiners before, during and after the exam/audit
- Provide governance and oversight to the Exam and Audit Framework
- Review all exam and audit findings, coordinate and assist in the development of management responses/action plans
- Provide credible independent challenge to corrective action plans and evidence of completion
- Monitor progress, completion, sustainability and closure of all open audit and exam issues
- Analyze alternatives for addressing findings. Recommend specific changes in processes and procedures to prevent further occurrences of non-compliance
- Partner with Control Framework/Integrated Testing for Pre-Exam/Audit Preparation and Testing to self-identify and disclose issues and improvement opportunities
- Develop and maintain comprehensive exam, audit and risk assessment calendar for P&C PO USbusiness units
- Ensure meeting the BMO Enterprise Regulatory Office/Governance Program Office’s Exam Management Framework and Policies
- Provide effective challenge and confirm sustainability of exam, audit and risk assessment identified remediation action plans
- Ensure alignment and adherence to Enterprise Compliance Program
Regulatory Knowledge (20%)
- Develop general business acumen regarding P&C PO US business units, including processes, procedures and performance drivers
- Develop and maintain close working relationships across the company to ensure effective communication and follow up on audits and regulatory examinations. Resolve issues as needed.
- Collaborate with all U.S. P&C Product Operations business units in the preparation, execution and follow-up during all the phases of an exam, audit or risk assessment.
- Work effectively with key corporate support areas including Credit Risk, Operational Risk, Legal, 2nd Line Compliance and Internal Audit.
- Develop strong working relationships with regulators and internal auditors.
Special Projects (10%)
- Develop and maintain basic knowledge of all applicable laws and regulations affecting Consumer/Mortgage Operations, such as:
- Truth-in-Lending Act – Regulation Z
- Real Estate Settlement Procedures Act – Hud Regulation X
- Equal Credit Opportunity Act
- Fair Housing Act
- Fair Credit Reporting Act
- Flood Insurance Regulations
- Appraisal Regulations
- Loans to Insiders Regulations – Regulation O
- Anti-Money Laundering/Bank Secrecy Act
- USA Patriot/Customer Identification Program Requirements
- Safe Act
- Graham Leach Bliley Act and Privacy Regulations
- Analyze proposed and final rulings to regulations to determine impact on current Consumer/Mortgage Operations procedures.
- Serve as a Subject Matter Expert and provide technical consultation to Consumer/Mortgage Operations staff regarding regulatory requirements.
- Lead / Assist on special projects as assigned by the Director, Independent Controls, Governance & Oversight and Exam & Audit Management
- Bachelor’s Degree required
- Advanced Degree preferred
- 5+ years of regulatory relationship management experience
- 5+ years Bank regulatory compliance experience
- 5+ years of audit, exam or quality control experience
- General knowledge of BMO Harris Bank and its affiliated banks
- Knowledge and understanding of US P&C Product Operations business units that may include deposits and payments, commercial loan servicing, mortgage/consumer lending originations, servicing, and collections
- General understanding of the regulatory and compliance requirements applicable to Mortgage and Consumer Banking and Collections
- Strong relationship management skills
- Outstanding written and oral communication skills
- Strong independent research skills
- Strong analytical skills and the ability to identify legal/regulatory issues
- Ability to influence others outside of direct reporting relationships
- Ability to prioritize work and simultaneously manage and deliver multiple projects
We’re here to help
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.