Accounting & Finance - Toronto

Our Client in the Banking and Finance Industry is seeking a Junior Business Analyst for their downtown Toronto Office. This is a 12 months contract to start, extension possible.
Role Mandate:
The role is also accountable for adhering to established controls, producing required reports, identifying process improvements and supporting new projects.  Act as the escalation point for business issues related to proactive reconciliation and dispute resolution.  Accountable to provide business and operational subject matter expertise (SME) and knowledge of day-to-day activities and CMG Reconciliation Team related projects.  Act as SME to translate business objectives into plans that can be implemented, including process redesign to compliment the change management/ product support strategy for CMG.  The role is accountable to ensure all policies and procedures are followed to meet relevant US and other regulatory requirements.

A. Role Responsibilities
B. Risk & Control
C. Reconciliation Operations
D. Product & Process Management
E. Business Performance Management

A. Role Responsibilities
• Responsible for investigating, resolving and escalating collateral disputes that exceed internal tolerance levels or regulatory thresholds in accordance with established dispute resolution procedures.  This activity includes reconciling portfolio valuation differences with the Bank’s 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 working with Valuation Product Control (VPC) in investigating and reconciling portfolio mark-to-market (MtM) differences with identified counterparties and escalating differences in accordance with established procedures.
• With assistance from VPC, follow through and complete investigations for trades that have been identified as having valuation differences that have breached prescribed tolerance levels, as set out in the Bank’s Policies and Procedures (P&Ps) as well as in the Capital Markets Financing Guideline (CFMG) for OTC Derivatives and Repo/ Reverse Repo Financing Guideline.
• Reconcile collateral positions in the Calypso collateral management database against Client’s 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 compliance in regards to Dodd Frank Act (DFA) and Europe Market Infrastructure Regulation (EMIR)
• Understand regulatory and compliance requirements as prescribed for CMG, such as  Financing Guidelines and the Bank’s Policies and Procedures, and provide recommendations and implement actions to ensure adherence, as required. 
• Adhere to project industry standards, best practices 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 (P&P) updates for potential impacts that require assessment of changes introduced.  This includes CMG operating procedures, the Bank’s P&Ps and Financing Guidelines.

B. Risk & Control
• 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.
• Follow security and safeguarding procedures as outlined in CMG procedures, the Bank’s P&Ps and in Financing Guidelines, 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 P&Ps, e.g. Financing Guidelines and BMO Portfolio Reconciliation Policies and Procedures.

C. Reconciliation Operations
• Represent CMG Reconciliation Team during change impact analysis and business requirements gathering, implementation planning and support, and issue escalation.  This may include working with relevant stakeholders to ensure policies and procedures are followed to meet regulatory compliance.
• Provide assistance to review new and/or revised CMG Reconciliation Team projects and initiatives, and liaise with other business units such as VPC, back office, Line of Business (LOB), Finance Shared Services, Credit Risk, and the Derivatives Legal Group (DLG) 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.
• Provide coaching and cross training to other staff from time to time.  
• May coordinate and/or implement test plans, test cases, training strategy development, training plans, parallel test strategy and plans, test documentation/ test specifications.
• Assist in partnering with Technology & Development Risk Management Group (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 includes defining and documenting user requirements, partnering with project teams as needed, to create manuals, training material/or job aids.

D. Product & 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 process or systems related issues or opportunities for improvement that may exist in CMG and provide solutions to meet these challenges and initiatives, where necessary.
• Act as one of the central point of contact for problem escalation from CMG Ops team and other relevant areas.
• Participate in external and internal audits, as required.

E. Business Performance Management
• Coordinate the issuance and tracking of issues and/or reconciliation logs and system and process enhancements raised with internal and external system providers.
• Support the delivery of exceptional counterparty 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 “Being BMO” model and aligned with BMO values.

• Partner with managers from internal and external departments for the delivery of key accountabilities
• Business stakeholders, (i.e. Front Office, Relationship Manager)
• Valuation Product Control (VPC)
• Back-office
• Portfolio Management (PM) and Credit Risk
• Derivatives Legal Group (DLG)
• Technology functions (i.e. TD RMG, EI)
• Internal business partners such as CMG Ops to consult / advise / service in the delivery of key

• Suppliers and service providers, i.e. TriOptima, IBM Algo, Calypso
• Regulators, auditors and counterparties

This job has direct or indirect impact on the following:
• Mitigation of credit risk that can potentially amount to large financial losses that may also result in regulatory penalties.
• Mitigation of potential fraud and operational risks by other departments that can potentially amount to large financial losses and other penalties imposed by regulators.
• Bank business and financial performance by ensuring that changes and solutions are cost-effective, timely and efficient.
• Bank financial performance by responding on a timely basis to changing operating conditions so as to mitigate financial penalties and costs. 
• Mitigation of costs / impacts associated with human errors by supporting the proper coaching and training of others.
Must-Have Skills:
• 3 to 5 years of related work experience, ideally in a financial institution
• Excellent knowledge of OTC derivatives and swaps
• Strong or advanced level of knowledge in MS Excel (macros, Vlookup function, VBA etc.) and MS Access is required.
• Experience with collateral management processes
• Familiar with established process analysis and improvement tools is an asset, i.e. Algo collateral system / Calypso collateral management database
• Experience with OTC derivatives products, operations and market practices as relates to collateral management is an asset

Nice-to-Have Skills:
• CFA designation
• Experience working with and building Macros is a very nice to have
• Exposure to risk sensitivities is a very nice to have
• Working knowledge of financial products

Educational Requirements:
Bachelor’s Degree in finance, accounting, economics, or a related field

Soft Skills:
• Excellent written and oral communication skills
• Open and positive attitude is HUGE
• Highly organized
• Team player- this role involves a lot of teamwork and communication across multiple internal groups
• Attention to Detail is HUGE
• Ability to meet tight deadlines
To Apply, Please send your resume to:

Position Type Contract
Application Deadline May 4, 2018
Experience Required 4 years
Job Duration 1 year
Education Required Bachelors