Audit Manager, Credit

Application Deadline:11/29/2026Address:320 S Canal StreetJob Family Group:Audit, Risk & ComplianceAudit Manager, Credit Description: Under the direction of the U.S. Audit Director and Senior Audit Manager, the Audit Manager is accountable to support the Enterprise in maintaining effective management processes and system of internal control through the independent execution of audits covering designated U.S. Banking and North American retail and/or commercial segments and Corporate Support Areas. Audits will broadly evaluate the adequacy of control design and operational effectiveness of designed controls.Specific core activities include:Audit execution: Support the Senior Audit Manager in the audit planning and engagement process. Execute all assigned audit engagement activities timely and in accordance with Audit Methodology. Document clear, concise, complete, and supportable work papers for test procedures executed. Assess and recommend action plans to resolve identified control deficiencies using sound judgement. Support the Senior Audit Manager in analyzing and compiling audit results recommending rating area and overall audit engagement ratings.Credit Assessment: Review assigned loans and provide an independent risk assessment including an evaluation of adherence to credit policies and procedures, effectiveness and accuracy of credit and collateral monitoring, underwriting quality, accuracy of documentation, and identification and management of problem credits as defined within the audit scope.Governance Assessment: Assess the auditable units’ risk governance effectiveness over their credit portfolios and alignment with the Bank’s risk appetite framework. Areas of assessment may include policy effectiveness, risk management and reporting, risk oversight, and strategic management.Regulatory Review: Evaluate compliance with applicable U.S. banking laws, regulations, regulatory guidance, and Bank policies within the audit scope, and assess whether related controls are appropriately designed and operating effectively.Business Operations: Assess key business operations and end-to-end processes to determine whether responsibilities, procedures, systems, and controls support effective credit administration, risk management, and reliable execution.Other Core Activities:Data Analytics:Use high value data analytics, where appropriate, to enhance risk assessment and audit testing and to identify trends, anomalies, and potential control deficiencies.Client Relationship Management: Maintain open, effective, and timely communication with clients during the audit engagement, including timely closure of open questions and requests for additional information, and discussion of matters raised during fieldwork and their potential resolution.Risk Assessment, Emerging Risk and Change:Support audit planning by identifying and assessing changes to credit risk, regulatory developments, technology, business strategies, emerging risks, and significant change initiatives for potential impacts to the control environment.Advisory Engagements:Participate in assigned advisory and risk-focused engagements, providing independent and objective insights into credit risk, governance, risk management, and internal controls.Qualifications: The ideal candidate will have 5+ years’ retail credit experience and 5+ years audit experience. This position requires BMO Credit Qualification for personal loans (commercial loans are desirable but not required).Knowledge:· Undergraduate degree or equivalent with 7 – 10 years of relevant retail and / or business purpose lending or credit risk management experience.· Specific knowledge of all phases of retail and/or business purpose lending covering effective credit administration, policies and procedures and analytical practices, and problem credit identification and management. Comparable knowledge of retail lending practices is desirable.· Solid knowledge of internal controls and risk assessment· Strong knowledge of U.S. Banking Regulations· CPA, CIA, CFA, or CRC designations are desirable.Skills:· Critical thinking skills· Strong interpersonal and communication skills with the ability to work independently and in a team setting· Working level planning and organizing skills with the ability to manage multiple priorities.· Introductory level leadership and managerial skills· Working level relationship management, negotiating, and influencing skills· Good analytical and system thinking skills· Proficient at Microsoft office applicationsJob posting reflects the Chicago salary range- varies by locationHybrid- 3 days in office weekly required (subject to change)Salary:$75,000.00 - $160,000.00Pay Type: SalariedThe 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: About UsAt 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 BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to View email address on click.appcast.io and let us know the nature of your request and your contact information.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.SummaryLocation: Chicago, IL, USA; Milwaukee, WI, USAType: Full time