Director, Risk Identification & Assessment and Emerging Events & Scenarios

$128,000 - $238,000/Yr

BMO (Bank of Montreal) - Virtual, NC

Full-time - Senior

Virtual, NC

Credit Intermediation and Related Activities

About the position

Risk Identification & Assessment ("Risk ID") and Emerging Events & Scenarios ("EES") are critical foundational elements of BMO's Risk Management Framework and Enterprise Risk Management. Risk ID & EES program is in the early stages of executing an optimized target state roadmap that will transform it to be fully integrated and in harmony with 1st and 2nd LoD BAU processes and reporting to deliver a strongly supported material and emerging risk inventory. Material and emerging risks will be integrated with risk appetite, strategic planning and stress testing to deliver efficient, consistent and valuable risk reporting to management committees and the Board to guide the overall operations of BMO. As a Director of Risk ID & EES, you will have the privilege of being a key member of a highly dedicated team leading this extraordinarily valuable transformation and managing the resulting optimized business-as-usual ("BAU") target state by delivering structured, disciplined, diligent and thoughtful leadership and support across many enhancements/efforts.

Responsibilities

• Develop and implement a target state Emerging Events & Scenarios identification and assessment 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 reporting including indicators.
• BAU management of Emerging Events & Scenarios to satisfy the heavy demands on a monthly and quarterly basis including 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 target state Non-Financial Risks identification and assessment process and reporting that is fully integrated with the existing PSPRA program so their output seamlessly/efficiently feeds Risk ID's Non-Financial Risks inventory.
• BAU management of Non-Financial Risks identification and assessment process by being a key point of contact and trusted partner for stakeholders that ensures a highly transparent, efficient and structured integrated process with PSPRA program is being executed.
• Develop and implement target state systematic integration of material and emerging risks with Risk Appetite Limits/KRMs/KRIs and Strategic Planning to deliver efficient, holistic and insightful risk reporting to management and the Board.
• Develop and implement target state user-friendly central Risk ID & EES system with review/certification workflow, integration with key systems (ex. Risk Appetite) and automated reporting.
• Develop and implement target state integration of Artificial Intelligence/Machine Learning into Risk ID & EES to improve risk assessments, risk indicators and scenarios.
• 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.

Requirements

• Typically 10+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• In depth / Expert knowledge of risk management, audit, compliance, governance practices.
• In-depth / Expert knowledge of business and regulatory environment and understanding of risk issues / trends and best practices.
• Knowledge of banking products, including credit and non-credit experience, economics and financial markets.
• In-depth / Expert communication and relationship management skills.
• Ability to manage multiple priorities with effective planning and organizing skills.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans