BMO Financial Group Senior Manager, Non-Financial Risk/Operational Risk Quantification in Toronto, Ontario
100 King Street West
Job Family Group:
Audit, Risk & Compliance
We are hiring! The Senior Manager, Non-Financial Risk/Operational Risk Quantification position is accountable for leading/driving the successful development, implementation, and maintenance of the bank’s risk quantification framework for Non-Financial Risk (NFR) management and NFR stress testing. Our goal is to meet risk management and regulatory requirements, and ensure non-financial risk methodologies and processes are appropriately governed and mitigated.
This includes having secondary accountability within the Non-Financial Risk Community for:
Developing, communicating, and governing risk methodologies and associated practices and tools on behalf of the enterprise that promote a business culture which facilitates a robust and disciplined approach to measuring and managing non-financial risk.
Overseeing, refining, and integrating non-financial risk stress testing methodology to create a competitive advantage for the bank and meet regulatory requirements including E-21, Principles for the Sound Management of Operational Risk, and proposed Operational Resilience standards.
Supporting and driving consistency in the implementation of the framework and methodology across the enterprise.
Come join our team, and help bring our vision to life!
Develops and maintains an effective internal control framework that defines the ways and methods governance is implemented, managed, and monitored in the designated business/group portfolio. The governance framework includes policies, guidelines and provides programs, practices and measures to promote transparency, accuracy, consistency across groups. Applies specialized knowledge of risk management, regulatory compliance and internal controls related to business processes and information.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
Ensures alignment between values and behaviour that fosters diversity and inclusion.
Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
Attracts, retains, and enables the career development of top talent.
Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
Provides strategic input into business decisions as a trusted advisor.
Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
Acts as a subject matter expert on relevant regulations and policies.
May network with industry contacts to gain competitive insights and best practices.
Interprets new regulations and assesses impacts to the internal controls governance framework/program.
Develops reports on the status of the governance program or framework components to various internal & external stakeholder audiences.
Influences and negotiates to achieve business objectives.
Identifies emerging issues and trends to inform decision-making.
Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
Measures the effectiveness of risk governance system and framework; recommends changes as required.
Conducts independent analysis and assessment to resolve strategic issues.
Leads the development and maintenance of the internal controls governance system and framework.
Acts as the prime subject matter expert for internal/external stakeholders.
Designs and produces regular and ad-hoc reports, and dashboards.
Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
Manages the review and sign-off process for relevant regulatory reporting.
Leads and integrates the monitoring, measurement & reporting on the status of the internal controls governance framework/program to internal & external stakeholders.
Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
May provide specialized support for other internal and external regulatory requirements.
Provides input into the planning and implementation of ongoing operational programs in support of the model validation/risk framework.
Leads in the design, implementation and management of core business/group processes.
Develops governance and control-related solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
Provides advice and guidance to assigned business/group on the implementation of the control framework, including effective challenge.
Performs testing on design of controls as required e.g. observation, inspection, replication, recalculation to ensure risks are identified and controls are effective.
Reviews processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls.
Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures; management of review/updates to policies, etc.
Consults with stakeholders to improve consistency and transparency of control measurement/metrics and reporting.
Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.
Builds effective relationships with internal/external stakeholders.
Ensures alignment between stakeholders.
Analyzes data and information to provide insights and recommendations.
Documents the internal control governance system, processes and framework to describe compliance requirements, activities, processes, roles & responsibilities.
Develops tools, checklists and communications to address gaps, issues and new requirements.
Monitors and tracks performance; addresses any issues.
Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
Implements changes in response to shifting trends.
Broader work or accountabilities may be assigned as needed.
Strong mathematical or statistical educational background (e.g. Masters), preferred.
Advanced knowledge of current and pending non-financial risk regulatory requirements, including external authoritative criteria for non-financial risk. desired
E xpert knowledge and understanding of the Basel Accord and the theories and concepts of methodology and process development, change management and implementation, desired.
Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Experience in risk management, audit, compliance, governance and/or project management is preferred.
In-depth knowledge of business and regulatory environment.
In-depth/expert knowledge & experience with risk policy frameworks; quality control/testing frameworks. e.g. SOX 404, COBIT and COSO frameworks.
Seasoned professional with a combination of education, experience and industry knowledge.
Verbal & written communication skills - In-depth / Expert.
Analytical and problem solving skills - In-depth / Expert.
Influence skills - In-depth / Expert.
Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
Able to manage ambiguity.
Data driven decision making - In-depth / Expert.
We’re here to help
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.
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.