Audit, Risk & Control Specialist

Bank of Montreal•Chicago, IL

About The Position

This role designs, develops, tests, implements, measures and manages processes, ensuring they reflect current business strategy, stakeholder requirements, and support the desired customer experience. Processes may include fulfillment, operations, services, and sales. The specialist acts as a trusted advisor, influencing and negotiating to achieve business objectives, and recommending solutions based on issue analysis. They assist in developing strategic plans, identifying emerging issues, and determining business priorities. The role involves conducting independent analysis to resolve strategic issues, supporting strategic initiatives, building relationships with stakeholders, and monitoring performance. The specialist designs and produces reports and dashboards, breaks down strategic problems for insights, and leads or participates in change management activities including planning, stakeholder management, execution, evaluation and sustainment of initiatives. They contribute to defining communication plans, developing tailored messaging, and identifying distribution channels. The position also involves providing input into operational programs, developing and documenting processes, procedures, and end-user materials, and assisting with training and transition. Collaboration in the design, implementation, and management of core business processes is key, ensuring adherence to risk, regulatory, and compliance requirements. The specialist streamlines, simplifies, and continuously improves existing processes, documenting them for communication and implementation. They ensure processes meet standards, track compliance, and look for opportunities to eliminate, simplify, and automate. The role recommends approaches to integrate processes for efficiency, maintains current documentation, and supports process management using established methodologies. It involves integrating information from multiple sources for efficient processes and enhanced reporting, and participating in Core Process transformation for productivity savings and improved customer/employee experience. The specialist develops an understanding of organizational interactions, stays abreast of industry trends, and resolves process-related issues. The focus is primarily on business/group within BMO, with potential for broader enterprise-wide focus, providing specialized consulting, analytical, and technical support. The role requires exercising judgment to identify and solve problems independently, handling non-routine situations, and taking measured risks in line with the bank's Risk Management Framework, Risk Culture, and approved Risk Appetite.

Requirements

Typically between 5 - 7 years of relevant experience.
Post-secondary degree in related field of study or an equivalent combination of education and experience.
Possesses a deep understanding of and problem solving ability for issues within the business/group.
In-depth knowledge of business analysis, project delivery practices and standards across the project lifecycle.
In-depth knowledge of business/group processes, procedures and controls.
In-depth understanding of risk, regulatory and compliance requirements.
Deep knowledge and technical proficiency gained through extensive education and business experience.
In-depth 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.

Responsibilities

Serve as the primary coordinator for Corporate & Commercial Lending Operations (CCLO) audits and reviews.
Oversee, suggest, and evaluate PRC controls to determine if they are sufficiently capturing the control activities performed within CCLO.
Assist in operational error evaluation, mitigation, and communication with the 1st & 2nd line risk teams.
Assist in the design, tracking, and completion of control activities.
Design, develop, test, implement, measure and manage processes.
Ensure that process design reflects current business strategy and business/stakeholder requirements and supports the desired customer experience.
Act as a trusted advisor to assigned business/group.
Influence and negotiate to achieve business objectives.
Recommend and implement solutions based on analysis of issues and implications for the business.
Assist in the development of strategic plans.
Identify emerging issues and trends to inform decision-making.
Help determine business priorities and best sequence for execution of business/group strategy.
Conduct independent analysis and assessment to resolve strategic issues.
Support the execution of strategic initiatives in collaboration with internal and external stakeholders.
Build effective relationships and collaborate with internal/external stakeholders.
Ensure alignment between stakeholders.
Monitor and track performance, and address any issues.
Design and produce regular and ad-hoc reports, and dashboards.
Break down strategic problems, and analyse data and information to provide insights and recommendations.
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.
Lead or participate in defining the change/communication plan designed to positively influence or change behaviour; develop tailored messaging; and identify appropriate distribution channels.
Provide input into the planning and implementation of operational programs.
Develop and document processes, procedures, etc. and/ or end-user materials.
Assist with the documentation of end user materials.
Assist with training and transition of processes and tools/templates to appropriate process owners.
Collaborate in the design, implementation and management of core business/group processes.
Design processes based on business requirements and best practices.
Ensure the processes adhere to applicable risk, regulatory and compliance requirements.
Streamline, simplify and continuously improve existing processes.
Document processes (including, but not limited to, process flows, playbooks, etc.) for vetting, communicating, and implementing processes with stakeholders.
Ensure all processes meet established standards, effectively utilize templates and tools to track compliance and operational effectiveness standards.
Look for opportunities to eliminate, simplify and automate processes.
Recommend approaches or changes to streamline and integrate processes to improve overall efficiency.
Maintain current process documentation to ensure available for stakeholders as required.
Support management of processes using established methodologies and tools/system/technology.
Integrate information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting.
Participate in the integration of Core Process transformation across business/groups to deliver process improvements for productivity savings and enhanced customer/employee experience.
Develop an understanding of organizational interactions and complexity to engage with the appropriate stakeholders.
Stay abreast of industry technical and business trends through participation in professional associations, practice communities & individual learning.
Resolve issues regarding processes that are raised from all sources/stakeholders.
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.
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.