{"id":3395,"date":"2024-09-26T20:07:53","date_gmt":"2024-09-27T00:07:53","guid":{"rendered":"https:\/\/masseyhenry.com\/?p=3395"},"modified":"2026-05-15T13:30:37","modified_gmt":"2026-05-15T17:30:37","slug":"indigenous-banking-truth-and-reconciliation","status":"publish","type":"post","link":"https:\/\/masseyhenry.com\/fr\/indigenous-banking-truth-and-reconciliation\/","title":{"rendered":"In Conversation with Clio Straram: Reflecting on Indigenous Financial Leadership and Truth & Reconciliation"},"content":{"rendered":"
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In a recent Q&A, we spoke with Clio Straram<\/strong><\/a>, Head of Indigenous Banking at BMO Financial Group (BMO), about her unique journey to the role, as well as her insights into the challenges and opportunities of providing financial solutions to Indigenous communities.<\/em><\/p>\n

Clio also shares her personal connection to the National Day for Truth and Reconciliation, and offers thoughtful guidance on how the financial sector can meaningfully contribute to reconciliation efforts.<\/em><\/p>\n

Below are some highlights from our conversation.<\/i><\/p>\n<\/div><\/div>

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It's important to recognize the vast diversity of Indigenous Peoples and regions<\/strong>. We can sometimes assume Indigenous means one group, but it\u2019s an overarching word encompassing First Nations, Inuit and M\u00e9tis, and within these communities, there are even more groups that differ in culture, history, and priorities. Special times like June and September allow us all to pause and reflect on these differences, try to better understand the true history of Indigenous people, and connect more with the culture.<\/p>\n<\/div><\/div>

Clio Straram<\/div>
Head, Indigenous Banking<\/span>, <\/span>BMO Financial Group, and Advisory Board Member, Massey Henry<\/span><\/div><\/div><\/div><\/div>

1. Tell us about your journey to the Head of Indigenous Banking role at BMO and what this role entails?<\/h4>\n

When I finished my MBA, my first job out of school was in BMO\u2019s Mid-Market Commercial Banking Group in downtown Toronto. Fresh from the west coast, it was a big change. During my time there, I found out BMO had an Indigenous Banking Unit (IBU) and wanted to learn more.<\/p>\n

Given my background in commercial banking and the fact that I\u2019m First Nations, the group was very appealing. I worked with the IBU for two years before exploring other parts of the Bank, including Corporate Finance and Restructuring. I also went back to school to get my Masters of Finance at London Business School, and then while on my first parental leave, BMO reached out regarding this role.<\/p>\n

Today I oversee a team of six Indigenous Banking VPs that partner with communities and organizations across the country. I appreciate working for a bank like BMO, which been serving this space for over 30 years. We have the history, the experience, and have developed the internal infrastructure to support Indigenous communities throughout the organization and move towards reconciliation as a group.<\/p>\n<\/div><\/div>

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2. What unique challenges and opportunities do you see in providing financial solutions for Indigenous communities?<\/h4>\n

\u00a0First and foremost, a history of injustice towards Indigenous people in this country. This resulted in racist policies and includes the Indian Act, which restricted First Nations governments\u2019 and peoples\u2019 ability to pledge land or assets on-reserve to secure loans.<\/p>\n

For generations, our people weren\u2019t able to pull equity from their lands, their businesses, their homes. They weren\u2019t able to accumulate wealth and prosper and grow. That\u2019s why the Indigenous Banking Unit was started<\/strong>.<\/p>\n

In the beginning, we (the IBU) provided housing loans for individuals living on-reserve. Then we provided commercial loans for First Nations governments to finance roads, administration buildings, and other infrastructure on-reserve. Today, we are also financing businesses owned by Indigenous governments, land development on- and off-reserve, and supporting large settlements, including disbursements to individuals, opening bank accounts, personal finance training, and leveraging assets to fund economic or social projects for communities.<\/p>\n

It\u2019s also important to recognize the vast diversity of Indigenous Peoples and regions. We can sometimes assume Indigenous means one group, but it\u2019s an overarching word encompassing First Nations, Inuit and M\u00e9tis, and within these there are even more groups that differ in culture, history and priorities. Special times like June and September allow us all to pause and reflect on these differences, try to better understand the true history of Indigenous people, and connect more with the culture.<\/p>\n<\/div><\/div>

For generations, our people weren\u2019t able to pull equity from their lands, their businesses, their homes. They weren\u2019t able to accumulate wealth and prosper and grow. That\u2019s why the Indigenous Banking Unit was started.<\/p>\n<\/div><\/div><\/div><\/div>

3. What does the National Day for Truth and Reconciliation mean to you personally?<\/h4>\n

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For me personally, there\u2019s a lot of emotion, a lot to think about. I\u2019m First Nations on my mom\u2019s side and both of her parents went to residential school. This means they had stories, and my mom had stories, that are hard to hear, and many likely haven\u2019t been shared. But when I was small, my mom sprinkled some culture and knowledge in my life. When we were growing up, being First Nations was not something embraced, not something we publicized. My mom passed away from COVID a few years ago. I miss her and wish I could ask her so many questions. And now I have my own daughter and baby boy. I want them to know more, be more connected, and be proud of the rich history of their Indigenous heritage, in addition to their non-Indigenous background.<\/span><\/p>\n<\/div><\/div>

For me personally, there\u2019s a lot of emotion, a lot to think about. I\u2019m First Nations on my mom\u2019s side and both of her parents went to residential school. This means they had stories, and my mom had stories, that are hard to hear, and many likely haven\u2019t been shared.<\/em><\/p>\n<\/div><\/div>

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4. How can financial institutions contribute meaningfully to the goals of Truth and Reconciliation?<\/h4>\n

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