VP Risk ID, Emerging Risks

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Identifying of Emerging Risks and Events is a critical foundational element of BMO's Risk Management Framework, notably to ensure sufficient capital adequacy is maintained during periods of stress. The Risk Identification ("Risk ID") team manages critical foundational elements including identification, assessment and monitoring of material & emerging risks. The Risk ID program is in the process of executing an optimized target state roadmap which has transformed it to be fully integrated and in harmony with first and second Lines of Defence business as usual (BAU) processes and reporting to deliver a strongly supported material & emerging risk inventory that systematically informs stress test scenario designs.  As the Vice President of Emerging Risks & Scenarios, you will support our existing and target state emerging risks identification, assessment, reporting and monitoring process, which includes, but is not limited to, the following:

• Develop and implement a target state emerging risks identification, assessment and monitoring process and reporting that is comprehensive, efficient, structured and is rooted in comprehensive sourcing, what-if scenarios and full integration with risk inventory/material risks to deliver dynamic, insightful and actionable emerging risk reporting including early warning indicators.

• BAU management of monthly emerging risks process by:

  • being a key point of contact and trusted partner for stakeholders that ensures a highly transparent, efficient and structured process/playbook is being executed and

  • delivering quality controlled, insightful and actionable reporting to management committees and the Board.

• Develop and implement a robust central system/tool to document, update, store and report on emerging risk external sources, emerging risks inventory and early warning indicators.

Qualifications:

• 7+ years of relevant Emerging Risks & Events experience at large financial institutions (preferably Global Systemically Important Banks (GSIBs), or Domestic Systemically Important Banks (DSIBs).

• In depth / Expert knowledge of economics, risk management, modeling/forecasting, and/or stress testing.

• Knowledge of banking products, including credit and non-credit experience, economics and financial markets.

• In-depth / Expert communication and relationship management skills.

• In-depth / Expert ability to manage multiple priorities with effective planning and organizing skills.

• In-depth / Expert 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 ability to manage ambiguity.

• Develop and implement a highly efficient, consistent and insightful process to map existing and proposed emerging risks to material risks to understand risk inventory coverage and understanding of new and/or evolving emerging risks.

• 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.

• 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.

Salary:

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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: 

About Us

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.

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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.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.