This role contributes to the business's accountability for delivering regulatory programs across applicable Tier 1 Risk Types. It involves supporting the design, development, automation, and coordination of evidence-based controls across various financial and non-financial risks, ensuring effective compliance with regulatory obligations in alignment with the Bank's Risk Management Framework.
Responsibilities
Support multiple, varied business units with corresponding number of regulators
Monitor and advise on management of risk requirements within the defined risk appetite
Manage/support large/complex risk programs/frameworks/projects/initiatives to ensure risks are appropriately mitigated and regulations adhered to
Monitor industry and legislative developments and continuously update programs to ensure they are competitive and effective
Support the position on regulatory compliance issues by interpreting requirements (existing, new and emerging) and identifying, analyzing and addressing resultant gaps and issues, including those raised through the review of change initiatives
Understand identified risk exposures and support the development of action plans required to mitigate identified risks
Act as a subject matter expert in the evaluation, development and implementation of an internal control system
Support the execution of strategic initiatives in collaboration with internal and external stakeholders
Build effective relationships with internal/external stakeholders
Ensure alignment between stakeholders
Break down strategic problems, and analyze data and information to provide insights and recommendations
Monitor and track performance, and address any issues
Build change management plans of varying scope and type; lead or participate in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives
Monitor to ensure that 1st line jobs are following defined processes and procedures
Develop, document and maintain business/group procedures updating and obtaining approvals as regulations or the operating environment changes and communicate changes to the business/group and relevant stakeholder groups
Design measurable sustainment strategies including assessing and recommending mitigations for industry/segment-specific risks and prioritizing opportunities presented by internal and external stakeholders
Track exception/exemption requests and corresponding approvals
Facilitate training to ensure business unit employees fully understand requirements
Provide quality control for investigations, self-reports, examinations and independent reviews conducted by internal and external stakeholders, including regulators, providing verbal and written responses to requests for positions, action plans, information and/or documentation
Millions of jobs, with real people getting hired every day
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Tailored applications submitted
May act as the designated Primary Business Unit Compliance Officer (BUCO) and/or Anti-Money Laundering Reporting Officer for the operating group and is accountable to meet all program requirements
Build awareness, knowledge, and skills and, as necessary, provide communication, practical tools and ongoing support including making presentations, to promote a culture of risk identification and management
Support the design, development, coordination of implementation, automation and continuous improvement of 1LOD LOB risk management programs, including supporting the establishment and maintenance of LOB specific policies standards, business processes and controls across all applicable financial and non-financial risks
Work with assigned business/group leaders to interpret, apply and operationalize relevant regulatory frameworks across the LOB/jurisdiction and design, develop, coordinate and continually improve the LOBs risk management programs and supporting activities to ensure the business operates within the approved risk appetite and optimizes risk return while meeting BMO’s regulatory compliance obligations and consistent with the Bank’s Risk Management Framework
Conduct or support self-assessments to demonstrate control effectiveness and adherence, coordinating 1LOD risk remediation efforts, responding to regulatory requirements, implementing policies, and managing risk measurement and reporting
Develop and maintain an understanding of the business/group strategies and objectives, products and services, internal and external stakeholders and business processes as well as the underlying infrastructure to identify and manage implications and risk exposures for the business/group
Identify, investigate, analyze, document and mitigate program risks, taking into account jurisdictional issues, and raise any issues or concerns to senior leaders and other stakeholders
Contribute to a strong risk culture through collaboration with 1LOD, and engagement with Second Line of Defence (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and processes are identified, assessed, measured and managed within the approved risk appetite, and reported on an ongoing basis
Analyze the impact and effectiveness of the program through periodic reviews
Recommend adjustments to the overall program, policy or processes within the business/group in accordance with the Risk Appetite Statement, Governance and Corporate Policy
Support the business/group through internal/external audits or regulatory examinations and assist in development of action plans to resolve any identified issues
Provide support to the development and delivery of training and awareness programs within the business/group to increase awareness of and compliance to risk management requirements
Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations
Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus
Provide specialized consulting, analytical and technical support
Exercise judgment to identify, diagnose, and solve problems within given rules
Work independently and regularly handle non-routine situations
Broader work or accountabilities may be assigned as needed
Requirements
Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience
In-depth program management skills
Deep knowledge and technical proficiency gained through extensive education and business experience
In-depth verbal and written communication skills
In-depth collaboration and team skills
In-depth analytical and problem-solving skills
In-depth influence skills
In-depth data-driven decision-making
Benefits
Performance-based incentives
Discretionary bonuses
Other perks and rewards
Health insurance
Tuition reimbursement
Accident and life insurance
Retirement savings plans
About the Company
At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. 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.
