Provides compensation expert advice and counsel through a variety of business/group and leadership engagements to execute BMO’s strategy and support the business/group strategy. Supports/defines the strategic direction, governance design, program design and execution of compensation programs at BMO. Understands and aligns to regulatory requirements in applicable jurisdictions. Completes specific strategic & operational work to deliver program objectives and/or minimize risk. This is a Toronto-based hybrid opportunity, requiring on-site presence at least three days a week. This role:
- Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
- Ensures alignment between values and behaviour 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.
- Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
- Attracts, retains, and enables the career development of top talent.
- Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
- Provides strategic input into business decisions as a trusted advisor.
- Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
- Provides expert advice, and support regarding employee and executive compensation issues including internal/external program effectiveness assessment, and governance. Conducts independent analysis to resolve strategic issues. Acts as a subject matter expert on relevant regulations and policies.
- Influences and negotiates to achieve business objectives.
- Manages day to day regulatory requests and reporting requirements to ensure BMO meets regulatory requirements in applicable jurisdictions.
- Identifies internal and/or external emerging issues, trends and needs to inform business strategies & decisions.
- Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
- Recommends changes on policy decisions. Enhances subject matter expertise and keeps abreast of trends by reading journals and articles.
- Develops the business case by identifying needs, analysing potential options and assessing expected return on investment.
- Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
- Provides design requirements to help define & advance compensation strategy. Assists in the development of strategic plans.
- Acts as the prime subject matter expert for internal/external stakeholders.
- Manages relationships with outside service providers for programs and ensure all required activities are completed.
- Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
- Provides advanced analytical and other project support in the design, development, implementation and evaluation of policies and programs.
- Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
- Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
- Collaborates across BMO to develop communications strategies and ensure consistency of messaging, in order to positively influence or change behaviour. May include developing communications for senior leader and Board of Directors meetings.
- Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution. Directs the planning and implementation of operational programs. Ensures governance review of compensation programs, including assessing if programs comply with principles & policies and legislative requirements and confirming that incentive pool funding is accurately forecast.
- Develops compensation programs/solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
- Provides input into the planning & implementation of operational programs.
- Supports the design, development and implementation of multi-year strategy for compensation that improves employee productivity, engagement and advocacy in alignment with BMO’s overall business strategy.
- Breaks down strategic problems, and analyses data and information to provide insights and recommendations. Gathers and formats data into regular and ad-hoc reports, and dashboards.
- Supports regulatory requests, including regulatory reporting, to ensure BMO meets regulatory requirements in applicable jurisdictions.
- Participates in / coordinates industry benchmarking processes that allow for better understanding of BMO’s program in relation to comparators.
- Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
- Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
- Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
- Implements changes in response to shifting trends.
- Broader work or accountabilities may be assigned as needed.
- Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.
Qualifications:
- Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
- Expert knowledge of compensation theory and program design methodology.
- Seasoned professional with a combination of education, experience and industry knowledge.
- Verbal & written communication skills - In-depth / Expert.
- Analytical and problem solving skills - In-depth / Expert.
- Influence skills - In-depth / Expert.
- Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
- Able to manage ambiguity.
- Data driven decision making - In-depth / Expert.
Salary:
$85,500.00 - $185,000.00
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
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.
