Risk Management Senior Specialist

3 weeks ago

Toronto, Ontario, Canada BMO Full time

Job Title: Risk Management Senior Specialist

About the Role:

BMO Financial Group is seeking a seasoned Risk Management professional to join our team as a Senior Manager, Global Third-Party Risk Management, Regulatory and Audit Interactions. In this role, you will be responsible for supporting corporate and risk governance frameworks and programs, regulatory exams and reviews, audits. You will be the key point of contact for GTPRM engaging with regulators or regulatory matters, examiners, and auditors.

Key Responsibilities:

  • Assist in the maintenance of Third-Party Risk (TPR) Program ensuring alignment to existing and emerging regulatory requirements and guidelines related to Third Party risk in all major BMO operating jurisdictions (Canada, US, UK, Asia).
  • Support GTPRM and various lines of business units in participation of internal and/or external audit, exams, and reviews, including but not limited to coordinating/facilitating the compilation, consolidation, interpretation, submission of timely and accurate documentation.
  • Coordinate timely and accurate responses and activities for ad hoc regulatory and audit matters.
  • Contribute to remediation planning and management; may actively engage on remediation activities, ensuring accurate and timely delivery of action plans.
  • Identify potential vulnerabilities and recommend mitigation strategies.
  • Assist in providing regular updates to senior management on the status of the Third-Party risk management program and activities.
  • Assist in the development of strong oversight and controls to ensure GTPRM remains in compliant with all regulatory, audit and 2nd line of defense requirements; may lead and/or support changes as required.
  • Conduct impact assessment of key regulatory changes.
  • Prepare regulatory, board, and committee presentations.
  • Acts as a subject matter expert on relevant Third-Party related regulations and policies.
  • Create and maintain TPRM documentation and procedures in the area of expertise.
  • May conduct assessment and validation of new TPRM Program processes/process improvements.
  • Identify potential risk situations/impacts and make recommendations or escalate to the senior manager.
  • Liaise with internal and external groups building relationships; may network with industry contacts to gain competitive insights and best practices.
  • Ensures alignment between values and behaviour that fosters diversity and inclusion.
  • Breaks down strategic problems, and analyses data and information to provide program insights and recommendations.
  • Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.

Basic Qualifications:

  • Bachelor's degree, or equivalent work experience
  • 5+ years of experience in Risk Management, Financial Services, Process Improvement, or related field
  • In lieu of a degree, 8+ years of experience in Risk Management, Financial Services, Process Improvement, or related field

Preferred Skills/Experience:

  • 5-8 years industry-related experience (TRPM, Compliance, or Operational Risk Management); strong understanding of the Financial Services Industry (issues, trends, etc.)
  • Strong experience in Third-Party Risk Management (TPRM)
  • Strong knowledge of regulatory requirements and TPRM industry trends
  • TPRM related industry certification
  • Experience with TPRM systems/tools
  • Excellent analytical, project and planning skills
  • Excellent communications skills (written and verbal)
  • Excellent interpersonal skills and ability to work well in a team environment collaborating across diverse groups (lines of business and business partners, including governance and oversight functions -1st and 2nd Line of Defense)
  • Proficiency in MS Office suite

Working Conditions:

  • The work covers all of BMO Financial Group and the TPRM Program is Enterprise wide
  • The role is hybrid with expectations of being in the office per the requirements of the business unit and is subject to change

Salary: $84,000.00 - $156,000.00

Pay Type: Salaried

The above represents BMO Financial Group's pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:

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