ISO 20022 Product Manager

Location: Toronto, ON, CAN

Application Deadline

11/05/2026

Address

250 Yonge Street

Job Family Group

Customer Solutions

The ISO 20022 Product Manager defines and delivers the strategy, roadmap, and lifecycle management for ISO 20022-enabled payment products and capabilities. The role translates client, business, regulatory, and industry needs into clear product requirements; coordinates dependencies across product, technology, operations, risk, compliance, sales, and external partners; and drives implementation, adoption, release readiness, and ongoing optimization. The Product Manager maintains alignment with applicable Canadian and global payment standards, usage guidelines, and message specifications while supporting secure, resilient, and efficient domestic and cross-border payment experiences.

Key Accountabilities

Product strategy and roadmap: Defines and maintains the ISO 20022 product vision, strategy, roadmap, business outcomes, and adoption plan across relevant payment products and channels.

Owns the product lifecycle for ISO 20022 capabilities, from discovery and business case development through design, delivery, launch, sustainment, and continuous improvement.

Client-led requirements and prioritization: Uses client research, feedback, payment journeys, service insights, and industry needs to translate ISO 20022 opportunities and pain points into prioritized product requirements, user stories, acceptance criteria, and implementation plans.

Client experience ownership: Defines and champions the target client experience for ISO 20022 payments across initiation, validation, processing, tracking, reporting, reconciliation, returns, investigations, and servicing.

Richer payment data and transparency: Converts structured ISO 20022 data into client value by improving payment information, remittance detail, status visibility, reporting, reconciliation, and the clarity of payment outcomes.

Maintains working knowledge of ISO 20022 message standards, schemas, usage guidelines, market practices, external code sets, and standards-release changes.

Standards and market readiness: Assesses the impact of ISO 20022 standards changes on payment products, client channels, data models, processing platforms, controls, reporting, and operational procedures.

Cross-functional delivery: Coordinates product, technology, operations, risk, compliance, legal, sales, servicing, and vendor dependencies to support timely and aligned delivery.

Partners with architecture and engineering teams on message mapping, data quality, validation, exception handling, interoperability, and end-to-end processing requirements.

Release and implementation readiness: Leads scope alignment, milestones, risk and decision management, testing strategy, operational readiness, client communications, training, and implementation support.

Supports end-to-end testing of ISO 20022 payment flows, including message validation, translation, enrichment, routing, screening, reconciliation, reporting, and downstream integration.

Risk and control management: Identifies product, operational, regulatory, financial-crime, data, and implementation risks and works with partners to establish appropriate controls and mitigation plans.

Client outcomes, performance, and adoption: Establishes and monitors measures such as adoption, straight-through processing, data-quality defects, rejects, returns, investigations, payment timeliness, reconciliation outcomes, service quality, and client feedback to identify trends and prioritize improvements.

Develops business cases, financial assessments, executive updates, product documentation, implementation materials, and decision recommendations.

Client and industry engagement: Engages clients, industry bodies, payment networks, vendors, and internal stakeholders to understand evolving needs and represent product priorities.

Provides subject-matter expertise and guidance on ISO 20022 capabilities, benefits, limitations, implementation considerations, and market developments.

Client onboarding and adoption: Designs clear onboarding journeys, implementation guidance, readiness support, training, and sales enablement that help clients understand data requirements, adopt ISO 20022 capabilities, and realize business benefits.

Establishes governance, prioritization, change-control, and decision-making practices for standards updates and product enhancements.

Ensures product documentation, procedures, and controls accurately reflect current product and system functionality.

Client experience improvement: Drives continuous improvement in payment data quality, automation, straight-through processing, reconciliation, transparency, and servicing to reduce payment delays, rejects, exceptions, investigations, and avoidable client effort.

Works independently, manages concurrent priorities, and makes sound, risk-informed decisions in complex and evolving situations.

Takes measured risks while protecting the bank by applying the Risk Management Framework, approved risk appetite, applicable policies, standards, procedures, laws, and regulations.

Broader work or accountabilities may be assigned as needed.

Flexibility to work weekends is required, as needed, to support product implementations, releases, and production cutovers.

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Qualifications

• Typically 5–7 years of relevant experience and a post-secondary degree in business, finance, technology, engineering, or a related field, or an equivalent combination of education and experience.
• Strong experience in product management, product ownership, business analysis, or payments transformation within banking or financial services.
• Demonstrated knowledge of ISO 20022 concepts, message structures, XML schemas, business components, market-practice guidelines, and standards maintenance.
• Experience with one or more payment domains such as high-value payments, wires, real-time payments, electronic funds transfer, clearing and settlement, correspondent banking, or cross-border payments.
• Knowledge of SWIFT MT/MX messaging, payment message flows, routing, settlement, reconciliation, exception handling, and related data requirements is strongly preferred.
• Understanding of Canadian payment platforms and modernization initiatives, including ISO 20022-enabled payment rails and associated industry requirements, is an asset.
• Experience translating complex business, client, standards, regulatory, and technical needs into clear product requirements and delivery priorities.
• Experience managing product roadmaps, backlogs, releases, cross-functional dependencies, risks, and implementation readiness.
• Familiarity with sanctions screening, anti-money laundering controls, fraud controls, privacy, data governance, and regulatory compliance in a payments environment.
• Experience with Agile, Scrum, or scaled delivery practices and collaboration with engineering, architecture, operations, testing, and control functions.
• Strong analytical skills, with the ability to evaluate message specifications, data mappings, process flows, defects, performance metrics, and client feedback.
• Proven ability to build business cases, assess benefits and costs, define success measures, and communicate recommendations to senior stakeholders.
• Strong relationship-management, facilitation, negotiation, and influencing skills across business and technical audiences.
• Excellent written and verbal communication skills, including the ability to simplify complex payment and standards concepts for clients and executives.
• Strong judgment, accountability, and ability to deliver results while managing ambiguity, competing priorities, and implementation risk.
• Working knowledge of APIs, payment hubs, data models, software delivery, or systems architecture is an asset.
• Formal product-management, Agile, payments, or ISO 20022 training or certification is an asset.

Salary

$70,000.00 - $150,000.00

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.