Group Product Manager, Specialized Lending Products

12/30/2023

Address:

33 Dundas Street West

Customer Solutions

As the Group Product Manager for Specialized Lending, you will be responsible for managing products that help customers with customized needs including Students, Specialty Programs and Auto Loans.  You will lead strategic portfolio initiatives and optimize portfolio financials. You will also be responsible for creating programs that offer simple solutions to customer needs while balancing risk reward trade offs.  

This role is part of the Personal Lending management team, requires strong senior leadership communication/presentation skills, and is responsible for driving cross-functional initiatives with key stakeholders (e.g. Operations, Sales, Finance, Risk).

This role will report to the Director, Specialized Lending

Key Accountabilities

• Recommends strategy and new initiatives to senior leaders based on an in depth understanding of the product suite and business needs
• Partners within the organization (e.g., Risk, Finance, Segments) to effectively manage Specialized Lending Products and identify opportunities for business growth, effective management of risk and operational efficiencies
• Acts as subject matter expert on products and related policies
• Supports the execution of strategic initiatives
• Optimizes product lifecycle and the client experience

Management & Leadership

• Ensure the timely implementation of initiatives and programs by aligning approach, establishing goals & milestones, and effectively managing people to get to the finish line.
• Establish and optimize team integration by articulating the linkages between the accountabilities and authorities of different roles across the group and by establishing the context in which they will work collaboratively with one another.
• Develop business cases for new initiatives and prioritize potential ideas for highest impact against targets, including business performance and customer experience.

Product Management & Development

• Develop extensive product expertise and intimately understand all aspects of product performance and drivers (market, financial, business) to inform product features and benefits and provide advice and recommendations for improvement.
• Design, implement and manage pricing and program strategies to meet Business needs.
• Monitor various channels (e.g. Operations, Sales, Risk) to ensure product systems are maintained and continuously improved.  As appropriate, enhance the product delivery system infrastructure, including improvement of existing product systems, processes, and documentation in support of product introductions, changes/enhancements and operations, in order to meet customer needs and facilitate ease of sales, fulfillment and servicing.

Governance and Risk Management

• Proactively explore existing and potential risks and sources of risk and escalating probable issues of materiality to the Director and senior leadership. 
• Work closely with Operational Controls and Governance (OC&G) to identify, mitigate and resolve product issues (e.g. Regulatory Compliance Issues, policy/product issues).
• Lead compliance activities specific to portfolio, understanding the external regulatory and legal environment and mitigating risks to an acceptable level.

Knowledge & Skills

Skills

Product Management (In-depth)

• Ability to develop and drive strategy across a matrixed organization
• Ability to work in “white space”
• Analytical Thinking (In-depth)
• Risk Management (In-depth)
• Environmental Understanding (In-depth)
• Financial Understanding (In-depth)
• Management Leadership (Working)
• Process Management (Working)
• Relationship/Partner Management (Working)

Knowledge

• 5-7 years product management experience
• 5 years of  Financial services industry knowledge

Education

• Minimum University Undergraduate degree preferably in Business, Economics, Math, or Engineering
• Preferred a graduate degree (MBA, Masters in Economics, Math, Engineering)

We’re here to help

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.

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.