Governance & Controls Specialist

BMO•Chicago, IL

17h•$55,000 - $120,000

About The Position

The Governance & Controls Specialist contributes to the delivery of regulatory programs across applicable Tier 1 risk types and to the design of governance and control requirements for products, processes, and channels. The role supports evidence-based controls across financial and non-financial risks, including Credit & Counterparty, Non Financial, Liquidity & Funding, Market, Strategic, Reputation, and Environmental & Social Risks. It helps ensure efficient compliance with regulatory obligations in line with BMO’s Risk Management Framework and approved Risk Appetite, supporting multiple similar business units and their regulators. The specialist helps implement risk management programs and frameworks, develops risk mitigation strategies, and acts as a subject matter expert in evaluating, developing, and implementing internal controls. The position collaborates with internal and external stakeholders on strategic initiatives, aligns stakeholders, analyzes data and performance, and supports change management activities. It monitors whether first-line teams follow defined processes, maintains business procedures as regulations and operating conditions change, tracks exceptions and approvals, and supports risk awareness through communications, presentations, tools, and training. The role supports the design, implementation, automation, and continual improvement of first-line-of-defence line-of-business risk management programs, policies, standards, processes, and controls. It works with business and group leaders to operationalize relevant regulatory frameworks and continually improve programs so that the business operates within approved risk appetite while meeting regulatory obligations. Responsibilities also include self-assessments, remediation coordination, regulatory responses, risk measurement and reporting, program reviews, audit and examination support, and recommendations for program, policy, or process adjustments. The specialist develops an understanding of business strategies, products, services, stakeholders, processes, and infrastructure to identify and manage risk exposures. The role investigates, analyzes, documents, and mitigates program risks, raises concerns to senior leaders and stakeholders, and collaborates with first-line teams, the Second Line of Defence, and Corporate Audit to support a strong risk culture. The position exercises judgment to solve problems within established rules and works independently on complex tasks; broader responsibilities may be assigned as needed.

Requirements

Typically 4–6 years of relevant experience.
Post-secondary degree in a related field of study, or an equivalent combination of education and experience.
Good program management skills.
Technical proficiency gained through education and/or business experience.
In-depth verbal and written communication skills.
In-depth collaboration and team skills.
In-depth analytical and problem-solving skills.
In-depth influence skills.
In-depth data-driven decision-making skills.

Responsibilities

Contribute to delivery of regulatory programs across applicable Tier 1 risk types and design governance and control requirements for products, processes, and channels.
Support the design, development, automation, coordination, implementation, and continuous improvement of evidence-based controls and first-line line-of-business risk management programs.
Support implementation of risk management programs and frameworks while identifying and minimizing negative impacts to the business.
Develop and implement risk mitigation strategies and contribute subject-matter expertise to internal control systems.
Support strategic initiatives with internal and external stakeholders, build effective relationships, and ensure alignment between stakeholders.
Analyze strategic problems, data, and information to provide insights and recommendations; monitor performance and address issues.
Build and participate in change management plans and activities, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment.
Monitor whether first-line teams follow defined processes and procedures.
Develop, document, and maintain business and group procedures; obtain approvals and communicate changes as regulations or operating conditions change.
Support development of measurable sustainment strategies, assess and recommend mitigations for industry- or segment-specific risks, and prioritize opportunities from stakeholders.
Track exception and exemption requests and corresponding approvals.
Build risk awareness, knowledge, and skills through communications, practical tools, ongoing support, and presentations.
Support establishment and maintenance of line-of-business policies, standards, business processes, and controls across applicable financial and non-financial risks.
Work with business and group leaders to interpret and operationalize regulatory frameworks and continually improve risk management programs and supporting activities.
Conduct or support self-assessments of control effectiveness and adherence; coordinate first-line risk remediation, respond to regulatory requirements, implement policies, and manage risk measurement and reporting.
Develop an understanding of business strategies, objectives, products, services, stakeholders, processes, and infrastructure to identify business implications and risk exposures.
Identify, investigate, analyze, document, and mitigate program risks, taking jurisdictional issues into account, and raise concerns to senior leaders and other stakeholders.
Collaborate with first-line teams, the Second Line of Defence, and Corporate Audit to identify, assess, measure, manage, and report risks within approved risk appetite.
Analyze program impact and effectiveness through periodic reviews and recommend adjustments to programs, policies, or processes in accordance with the Risk Appetite Statement, governance, and corporate policy.
Support the business through internal and external audits or regulatory examinations and assist in developing action plans to resolve identified issues.
Support development and delivery of risk management training and awareness programs.
Apply BMO’s Risk Management Framework and Risk Culture, make sound risk-informed decisions, protect assets, and comply with applicable policies, laws, and regulations.