Risk Management Specialist

1 week ago

Toronto, Ontario, Canada BMO Full time
Job Summary

We are seeking a highly skilled Risk Management Specialist to join our team at BMO. As a key member of our organization, you will play a critical role in ensuring the effective implementation and maintenance of our first line of defense (1st LOD) programs.

Key Responsibilities
  • Support the business/group leader in the effective implementation, maintenance, and administration of 1st LOD programs, including operational risk, AML, compliance, regulatory, and other related areas.
  • Oversee business operations within the jurisdiction to ensure adherence and efficiency, and contribute to a strong risk management culture through collaboration with other first line employees and second & third line functions.
  • Monitor and advise on management of risk requirements within the defined risk appetite, and 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, and support the position on regulatory compliance issues by interpreting requirements and identifying, analyzing, and addressing resultant gaps and issues.
  • Act as a subject matter expert in the evaluation, development, and implementation of an internal control system, and support the execution of strategic initiatives in collaboration with internal and external stakeholders.
  • Build effective relationships with internal/external stakeholders, break down strategic problems, and analyze data and information to provide insights and recommendations.
  • 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 & 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, and provide quality control for investigations, self-reports, examinations, and independent reviews conducted by internal and external stakeholders.
  • 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 provide communication, practical tools, and ongoing support to promote a culture of risk identification and management.
  • Support the management of 1st LOD program for the business/group in compliance with appropriate principles, standards & direction from the second line of defense groups, and work with assigned business/group leaders to implement 1st LOD programs and frameworks.
  • 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.
  • Analyze the impact and effectiveness of the program through periodic reviews, and 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 the 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.
Requirements
  • Typically between 5 - 7 years of relevant experience and post-secondary degree in a related field of study or an equivalent combination of education and experience.
  • Program management skills - In-depth.
  • Deep knowledge and technical proficiency gained through extensive education and business experience.
  • Verbal & written communication skills - In-depth.
  • Collaboration & team skills - In-depth.
  • Analytical and problem-solving skills - In-depth.
  • Influence skills - In-depth.
  • Data-driven decision-making - In-depth.
What We Offer

We offer a competitive salary range of $68,000.00 to $126,000.00 per year, as well as a comprehensive benefits package, including health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans.

We are committed to an inclusive, equitable, and accessible workplace, and we strive to help our employees grow and make an impact. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs.

To learn more about our company culture and values, please visit our website at https://www.bmo.com.

We are an equal opportunities employer and welcome applications from diverse candidates. Accommodations are available on request for candidates taking part in all aspects of the selection process.

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