Fairness and clarity
All of our banking and investment offerings comply with consumer protection laws, regulations, voluntary codes of conduct and public commitments regarding the fair design and sale of financial products and services.
We provide our front-line employees with extensive training and specialized tools that equip them to recommend appropriate products and answer our customers’ questions. We strive to use clear and simple language in our marketing. We offer financial education to our customers to help them understand the nature of our products and services and the agreements they sign.
Three ways to engage
Here are some of the ways we engage with stakeholders to help us determine our non-financial disclosure:
- Stakeholder engagement framework
BMO has a comprehensive stakeholder strategy designed to proactively capture stakeholder input, incorporate feedback and report on the environmental, social and governance (ESG) issues that matter most to our stakeholders. In 2017, our formal engagement process included a materiality assessment in which we surveyed customers, employees, investors and community/civil society groups. Following this, a third party conducted in-depth interviews with a subset of the survey respondents to learn more about what matters to them.
- Grievance/feedback mechanisms
Stakeholders can contact BMO to discuss their concerns through a variety of channels: the CEO’s office, Investor Relations (IR), Sustainability, Ethics and Conduct, the Office of the Ombudsman, Corporate Secretary’s and BMO’s Client Contact Centre.
- Shareholder engagement activities
We have a shareholder engagement policy which aims to ensure that all shareholders receive timely, factual and accurate information about our operations and financial performance. The policy outlines how the board communicates with shareholders and how shareholders can communicate with the board or BMO management.
IR and management actively engage with BMO’s investors through industry conferences, group meetings, and one-on-one meetings. IR ensures that the appropriate internal groups are engaged and/or informed of the outcomes of investor meetings with specific concerns.
Engagement is embedded in all areas of the bank – see how we stay current with the interests and expectations of our shareholders
Our governance framework and practices support ethical conduct, sound decision-making and compliance with the laws and standards that apply to us.
Office of the Customer Complaint Appeal Office (CCAO)
The role of the Office of the Customer Complaint Appeal Office is to conduct an impartial review of customer complaints in an effort to facilitate a resolution.