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BMO Financial Group Head of Technology & Operations (T&O) Control Testing Utility in Chicago, Illinois

Address:

111 W Monroe - 115 S LaSalle

Job Family Group:

Strategy & Change

Please note this role is posted both in the US and Canada for candidates to apply

T&O Risk and Internal Controls is the Business unit accountable for all Regulatory & Compliance, Risk and Control activities associated with the execution of the T&O mandate. Reporting to the Head, T&O Risk and Internal Controls is the Head of T&O Control Testing Utility (CTU) who is responsible for overseeing the T&O CTU, quality, governance and execution. This position has a T&O mandate for BMO Financial Group across all jurisdictions and legal entities that BMO operates and acts as the single point of escalation and resolution for the CTU. The CTU may perform control testing for non-T&O groups with the appropriate agreements and funding in place with the requestor.

The T&O CTU sits within the First Line of Defense. First Line Operating Groups own and manage risks in keeping with bank Standards and Risk Appetite, including determining and communicating testing requirements to the CTU. The CTU performs testing of controls, as documented, on behalf of the First Line, reports on individual and aggregate outcomes, and supports the Second Line mandate to perform effective challenge, monitoring and oversight. Third Line/Regulators may audit/review both First Line (including CTU) and Second Line groups. The CTU also performs validation work to ensure timely and comprehensive remediation of T&O Issues rated Significant and above. Additionally, the CTU performs other types of risk and control type testing services as required.

The CTU is designed to drive an end to end business process view of control testing, develop expertise in control testing process lifecycle, utilize deep technical expertise (e.g. Technology, Cyber, AML, SOX), and leverage technology for efficiency and effectiveness. The CTU is organized in support of the control testing lifecycle:

  • Intake, Design & Develop: centralizes and optimizes test program design, streamlines requests to the business, and standardizes test program development

  • Testing Execution: centralizes the core competency for testing execution and provides insights and recommendations on test results, findings, identified issues, re-performance testing, and continuous improvement insights

  • Tools, Data & Analytics: provides aggregated reporting and insights across business lines or risk stripes and provides dedicated accelerator / continuous improvement resources focused on automation to reduce testing efforts and costs

  • Governance & Business Management: provides management oversight and governance including monitoring of internal Quality Assurance to drive consistency and quality

Key Accountabilities

The Head of T&O Control Testing Utility (CTU) is accountable for the following:

  • Managing the full testing lifecycle presiding over an organization structure with the following sub functions:

  • Intake, Design & Develop

  • Testing Execution

  • Tools, Data & Analytics

  • Governance & Business Management

  • Managing relationships across the Three Lines of Defense and external auditors and regulators:

  • T&O First Line Business Partners

  • First Line where requested or required for applicable US P&C, Wealth Management, Canadian P&C, Capital Markets and Asset Management

  • Second Line (includes but is not limited to Operational Risk, Credit Risk, Compliance, Finance)

  • Third Line (includes Internal Audit)

  • External Audit and Regulators

  • Managing requirements, when requested and agreed upon, from First Line Operating Groups through SLA, test inventory and cross charge processes to ensure optimal coverage, gap identification and full cost base allocation

  • Managing and authorizing exceptions to the T&O Control Testing Policies, Standards, Guidelines, and Frameworks, designing and reviewing metrics, managing the Test Inventory and overseeing the Testing Lifecycle

  • Define and set effective operations infrastructure and business model to be applied across all Utility functions

  • Act as single point of escalation and resolution for the Utility

  • Participate in defining the strategy goals and objectives for accountability, articulating phases for execution over a period of time.

  • Stay abreast of testing trends and integrate where appropriate; building and maintaining robust testing architecture (including policies, analytics, systems support and reporting infrastructure) that is adequate to support the level and complexity of the areas the Control Utility supports

  • Establish and execute a best in class Regulatory Testing Programs ensuring comprehensive coverage through the development and completion of detailed test programs and scripts.

  • Understand and keep ahead of the evolution of the business while ensuring sustainability of BMO’s competitive advantage, including major process changes (short term and up to 5 years out).

  • Participate and contribute at management team level in business and strategic planning as a member of the GRCT (Governance, Risk, Compliance, Testing) leadership team. Represent the T&O Testing Utility interest in that forum and interpret information in the context of own business.

  • Review, approve, and monitor progress against financial, business and capital plans for all Control Testing Utility operating units and ensure alignment and consistency with Technology & Operations Risk and Internal Controls strategic direction.

Operations Management

  • Lead the operation towards continuous process improvements and high quality standards, with a focus on responsiveness to the internal/external customer, cost efficiencies and process controls. Areas of focus include: customizing processes and procedures to facilitate unique product/customer solutions; identifying and implementing internal and external “best practices”; rationalizing distribution points, locations, and premises; leveraging technology to enable efficiencies and improvements in delivery; optimizing organization structures/role design, resourcing levels, and resource allocation.

  • Understand and manage cross-border complexities

Risk Management/Compliance

  • Oversee the design and management of governance processes and procedures that ensure the T&O Control Testing Utility performs with separation from the 1st line operating groups it supports and ensure effective operational infrastructure, standards and processes are in place to manage and mitigate risks associated with the utility

  • Anticipate and mitigate risks associated with management & people, process, systems & technology, market/competition and regulations.

  • Act as an escalation point to identify & protect T&O from the high risk inherent in the operational complexity

  • Manage all financial and budgetary processes within Bank policy, guidelines and annual objectives

General Management

  • Establish a culture and work environment that attracts, retains and motivates a diverse skilled workforce within testing and analytics

  • Translate the strategic picture for staff; provide regular feedback & coaching to direct reports and provide appropriate development opportunities.

  • Build a high performance culture where speedy execution and issue resolution, business value creation and collaborative working relationships are everyone’s objective

  • Maintain employee morale by providing continuity and support

  • Implement the HR strategy focused on developing and sustaining superior workforce performance, in order to achieve competitive benefits through leadership, organizational and cultural transformation and enhanced employee communications. Personally, accountable to ensure effective, ongoing succession is in place through coaching and mentoring the management team to provide continuous & seamless superior performance.

  • Coach and mentor the Utility management team members to provide continuous and seamless superior performance

Knowledge

  • 10-15 years’ experience managing/directing a large, complex organization or 10-15 years Leading a Technology & Operations organization and Risk, Controls, Governance, Compliance, Testing functions

  • In-depth knowledge of Testing Standard best practices, along with the tools, technology, analytics, sampling, etc. used for testing

  • Experience in strategic planning and execution

  • Substantial exposure to Operations, Risk, Governance, Controls and Regulatory Compliance Management, Testing, key platforms and industry trends

  • Superior understanding of the organization’s goals and objectives

  • Demonstrated ability to build a team and lead through transformation and build

  • Excellent leadership ability with the capability of energizing and motivating people, leading to lasting culture change\

  • Ability to set and manage priorities judiciously

Competencies/Skills

  • Strategic Visioning

  • In depth Finance & Business Acumen

  • Balance Sheet and reporting

  • Division Leadership

  • Communication

  • Influence and Negotiation

  • Change Management

  • Multi-jurisdictional Compliance & regulatory

  • Risk Management

  • Governance & Control

  • Credit

  • AML, Legal

We’re here to help

At BMO Harris Bank 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 Harris Bank 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.bmoharris.com.

BMO Harris Bank 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. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.

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