Audit, Risk & Control Specialist

BMO•Chicago, IL

About The Position

The Audit, Risk & Control Specialist will serve as the primary coordinator for Corporate & Commercial Lending Operations (CCLO) audits and reviews. This role involves overseeing, suggesting, and evaluating PRC controls to ensure they sufficiently capture control activities within CCLO. The specialist will also assist in operational error evaluation, mitigation, and communication with 1st & 2nd line risk teams, as well as aid in the design, tracking, and completion of control activities. The position requires designing, developing, testing, implementing, measuring, and managing processes to align with current business strategy, stakeholder requirements, and desired customer experience. The specialist acts as a trusted advisor, influencing and negotiating to achieve business objectives, recommending solutions, and assisting in strategic planning by identifying emerging issues and trends. Key responsibilities include determining business priorities, conducting independent analysis, supporting strategic initiatives, building relationships, monitoring performance, and designing reports and dashboards. The role also involves breaking down strategic problems for insights, leading or participating in change management activities, defining communication plans, and developing tailored messaging. The specialist will provide input into operational programs, develop and document processes, procedures, and end-user materials, and assist with training and transition. Collaboration in the design, implementation, and management of core business processes is crucial, ensuring adherence to risk, regulatory, and compliance requirements. The role emphasizes streamlining, simplifying, and continuously improving existing processes, documenting them for communication, and ensuring they meet established standards. The specialist is expected to identify opportunities for automation, recommend approaches to integrate processes for efficiency, and maintain current process documentation. Supporting process management using established methodologies and integrating information for enhanced analysis and reporting are also key. Participation in Core Process transformation to deliver productivity savings and improved customer/employee experience is expected. The specialist must develop an understanding of organizational interactions, stay abreast of industry trends, and resolve process-related issues. The role primarily focuses on business/group within BMO but may have a broader, enterprise-wide focus, requiring the application of the Risk Management Framework and sound, risk-informed decision-making.

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, 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
Designs, develops, tests, implements, measures and manages processes
Ensures that process design reflects current business strategy and business/stakeholder requirements and supports the desired customer experience
Acts as a trusted advisor to assigned business/group
Influences and negotiates to achieve business objectives
Recommends and implements solutions based on analysis of issues and implications for the business
Assists in the development of strategic plans
Identifies emerging issues and trends to inform decision-making
Helps determine business priorities and best sequence for execution of business/group strategy
Conducts independent analysis and assessment to resolve strategic issues
Supports the execution of strategic initiatives in collaboration with internal and external stakeholders
Builds effective relationships and collaborates with internal/external stakeholders
Ensures alignment between stakeholders
Monitors and tracks performance, and addresses any issues
Designs and produces regular and ad-hoc reports, and dashboards
Breaks down strategic problems, and analyses data and information to provide insights and recommendations
Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives
Leads or participates in defining the change/communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels
Provides input into the planning and implementation of operational programs
Develops and documents processes, procedures, etc. and/ or end-user materials
Assists with the documentation of end user materials
Assists with training and transition of processes and tools/templates to appropriate process owners
Collaborates in the design, implementation and management of core business/group processes
Designs processes based on business requirements and best practices
Ensures the processes adhere to applicable risk, regulatory and compliance requirements
Streamlines, simplifies and continuously improves existing processes
Documents processes (including, but not limited to, process flows, playbooks, etc.) for vetting, communicating, and implementing processes with stakeholders
Ensures all processes meet established standards, effectively utilize templates and tools to track compliance and operational effectiveness standards
Looks for opportunities to eliminate, simplify and automate processes
Recommends approaches or changes to streamline and integrate processes to improve overall efficiency
Maintains current process documentation to ensure available for stakeholders as required
Supports management of processes using established methodologies and tools/system/technology
Integrates information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting
Participates in the integration of Core Process transformation across business/groups to deliver process improvements for productivity savings and enhanced customer/employee experience
Develops an understanding of organizational interactions and complexity to engage with the appropriate stakeholders
Stays abreast of industry technical and business trends through participation in professional associations, practice communities & individual learning
Resolves issues regarding processes that are raised from all sources/stakeholders
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