Managing Director, Governance & Controls, North American Treasury & Payment Solutions BMO Commercial Bank Canada & North American Integrated Solutions

Bank of Montreal•Chicago, IL

15d•$200,000 - $250,000•Onsite

About The Position

Leads risk management operational activities for all BMO-defined Operational Risk Types for a line of business, ensuring that internal control systems identify and mitigate emerging risk, safeguard assets, and comply with Bank policy and procedures, regulatory requirements, codes of conduct and public commitments. Contributes to a strong risk management culture through collaboration with first, second- and third-line functions to ensure Operational and Compliance risks related to products, services and processes are identified, mitigated, monitored, and reported on an ongoing basis. Understands the relevant regulatory frameworks that have an impact on the business and leads a team to coordinate the business unit’s “first line of defense” activities by developing, implementing, supporting, and maintaining programs which enable the business to operate within the approved risk appetite and optimize results while meeting internal and external requirements, across the business group. Provides support and subject matter expertise for the evaluation and development of effective internal controls including process improvements, metrics, and governance & reporting to support value-added, cost-effective management of internal and external function requirements for the business unit. Leads the resolution of issues for the business unit including providing ongoing leadership, subject matter expertise and guidance to support specific event management recovery initiatives. Provides an integrated view and reporting of Operational and Compliance risk, , across the unit they support, fosters awareness, and, as regulations change or as regulatory issues are identified, provides expert advice and counsel to the business unit on requirements, facilitates the related action planning, and provides oversight to ensure successful implementation of necessary changes. Leads all BMO Operational Risk Types for the line of business across BMO’s Risk Taxonomy, implements risk management programs within the business unit (including business unit products and services and Business Continuity), developing and maintaining an in-depth understanding of the applicable regulatory requirements and internal risk management requirements and interpreting the application of those requirements for the business unit. Develops/maintains an in-depth understanding of the business unit’s strategies and objectives, products and services, internal and external business partners, and business processes as well as the underlying infrastructure to identify and manage implications and risk exposures for the business. Identifies risks, develops risk mitigation strategies including the design and implementation of controls, monitoring, and testing where needed, managing/monitoring these risks on an ongoing basis, and making recommendations to business unit Executive with respect to the business unit’s risk profile. Provides support for attestation requirements if any (e.g., SOX attestations). Provides governance and oversight of risk management activities within the business unit and works with business unit Product and Service Managers and internal/external business partners in technology and product operations to design and implement appropriate end-to-end product/segment level risk management controls, metrics and quality controls for each product or service. Develops monitoring and testing programs (including sampling) ensuring that controls supporting compliance with Policies and Procedures for all BMO Operational Risk Types are in place and operating as intended. This includes development and monitoring of key risk indicators associated with those controls to identify trends and issues impacting the risk profile within the business. Performs active Issue/Event Management, including issue identification, development of action plans, tracking, ongoing monitoring, and reporting. Ensures issues are escalated to the appropriate level of management within the business unit, and corporate support areas as appropriate. Develops and delivers training and awareness programs within the business unit to increase awareness of and compliance to risk management requirements. Builds awareness, knowledge, and skills internally and, as necessary, provides communication, practical tools and ongoing support including making presentations, to promote a culture of compliance risk identification and management. Ensures required internal regulatory, compliance reporting is carried out on a timely basis as required by relevant regulatory bodies and the Bank. Manages business unit risk in keeping with the Enterprise Risk Appetite as well as within the Risk Appetite statements of each BMO Operational Risk Type Represents the business unit to the business line Governance Specialist in support of implementation and execution of Country-level Governance programs. Adheres to business-specific risk management standards and guidelines and where needed, designs, develops, implements, and manages a set of business-specific processes, tools and templates to support these standards and proactive diagnostic assessment of all potential quality control ‘problem points’ within product/process/procedure related systems, legal forms, documentation, etc. Provides risk management direction and subject matter expertise to key line of business initiatives to support appropriate assessment of Operational, Compliance, AML other risk types and implementation of controls, metrics, monitoring and testing appropriate to those risks. Provides leadership, subject matter expertise and guidance for specific event management requirements/initiatives as required. This accountability, depending on the size/complexity/risk rating of the event, may be on a ‘stand-alone’ basis or in partnership with other cross functional groups from within the business delivery system or with external, third-party consultants and suppliers. Builds relationships with other group level Operational Risk & Compliance functions to ensure consistent and comprehensive implementation of performance of Operational Risk, and Compliance accountabilities. Builds relationships with 2nd line of defence to provide insights into the business, and to understand emerging issues and expected regulatory changes. Builds relationships with external stakeholders (e.g. Regulators), Corporate Audit, Finance, Legal, ERPM and other corporate groups as needed Identifies systemic issues and develops and executes on recommendations to resolve them and inform appropriate parties. While external regulatory relationships are coordinated by Corporate Support areas (Legal, Compliance Ops Risk), the incumbent must be prepared to represent the business unit with all external parties when called upon. Conducts regular investigations of issues with stakeholders across the organization to assess and recommend solutions. Ensures the effective implementation of Bank initiatives and programs through the establishment of appropriate context and setting of direction for direct reports by providing relevant information, establishing goals, and setting limits with the context and prescribed limits of the group Head. Develops, implements, reviews and revises a 1–2-year work plan including: vision, mission, values, operational and resource plans. Complies with the Bank’s Risk Appetite framework and ensures risk-taking activities remain within agreed limits and comply with all regulatory requirements. Role models driving simplicity and productivity enhancements for optimization across groups driving continuous improvement on key measures. Activates our winning culture, aligned with Purpose. Ignites engagement by aligning our culture to our strategy and fueling exceptional execution. Fosters diversity, equity and inclusion and creates an inclusive environment for all employees by eliminating barriers to inclusion. Develops leaders, plans for succession, and fosters a high-performance culture. Drives top talent acquisition and retention, developing organizational capabilities to drive competitive advantage. Leads and mentors a team with diverse risk and business experience, skills, and orientation. Leads, promotes, and reinforces the Bank’s Ambition; personally, role models One Bank leadership; drives sustainable improvements in customer loyalty and business growth; adheres and supports enterprise customer experience and brand standards.

Requirements

Postgraduate degree (MBA or equivalent advanced degree preferred).
7+ years of experience within the financial services industry, with demonstrated expertise in Treasury and Payment Solutions.
Aligned experience in Operational Risk Management and/or Regulatory Compliance within a complex, regulated environment.
Proven ability to lead complex initiatives, with a track record of successfully driving outcomes through cross-functional teams and influencing stakeholders without direct authority.
Strong capability to interpret complex regulatory and compliance frameworks, translating requirements into practical, business-aligned solutions.
Deep understanding of financial services regulatory and operating environments.
Strong organizational acumen, with the ability to navigate complex, matrixed structures effectively.
Demonstrated experience in resource planning and prioritization within dynamic environments.
Effective change leadership, with the ability to drive adoption of new processes, controls, and frameworks.
Advanced analytical and critical thinking skills, with a data-driven approach to problem solving.
Expertise in process design, coordination, and optimization, including governance and control frameworks.
Proven people leadership and team development capabilities, with experience building high-performing teams.
Exceptional problem-solving skills, with the ability to assess risk, identify root causes, and implement sustainable solutions.

Responsibilities

Leads risk management operational activities for all BMO-defined Operational Risk Types for a line of business, ensuring that internal control systems identify and mitigate emerging risk, safeguard assets, and comply with Bank policy and procedures, regulatory requirements, codes of conduct and public commitments.
Contributes to a strong risk management culture through collaboration with first, second- and third-line functions to ensure Operational and Compliance risks related to products, services and processes are identified, mitigated, monitored, and reported on an ongoing basis.
Understands the relevant regulatory frameworks that have an impact on the business and leads a team to coordinate the business unit’s “first line of defense” activities by developing, implementing, supporting, and maintaining programs which enable the business to operate within the approved risk appetite and optimize results while meeting internal and external requirements, across the business group.
Provides support and subject matter expertise for the evaluation and development of effective internal controls including process improvements, metrics, and governance & reporting to support value-added, cost-effective management of internal and external function requirements for the business unit.
Leads the resolution of issues for the business unit including providing ongoing leadership, subject matter expertise and guidance to support specific event management recovery initiatives.
Provides an integrated view and reporting of Operational and Compliance risk, , across the unit they support, fosters awareness, and, as regulations change or as regulatory issues are identified, provides expert advice and counsel to the business unit on requirements, facilitates the related action planning, and provides oversight to ensure successful implementation of necessary changes.
Leads all BMO Operational Risk Types for the line of business across BMO’s Risk Taxonomy, implements risk management programs within the business unit (including business unit products and services and Business Continuity), developing and maintaining an in-depth understanding of the applicable regulatory requirements and internal risk management requirements and interpreting the application of those requirements for the business unit.
Develops/maintains an in-depth understanding of the business unit’s strategies and objectives, products and services, internal and external business partners, and business processes as well as the underlying infrastructure to identify and manage implications and risk exposures for the business.
Identifies risks, develops risk mitigation strategies including the design and implementation of controls, monitoring, and testing where needed, managing/monitoring these risks on an ongoing basis, and making recommendations to business unit Executive with respect to the business unit’s risk profile.
Provides support for attestation requirements if any (e.g., SOX attestations).
Provides governance and oversight of risk management activities within the business unit and works with business unit Product and Service Managers and internal/external business partners in technology and product operations to design and implement appropriate end-to-end product/segment level risk management controls, metrics and quality controls for each product or service.
Develops monitoring and testing programs (including sampling) ensuring that controls supporting compliance with Policies and Procedures for all BMO Operational Risk Types are in place and operating as intended.
Performs active Issue/Event Management, including issue identification, development of action plans, tracking, ongoing monitoring, and reporting.
Ensures issues are escalated to the appropriate level of management within the business unit, and corporate support areas as appropriate.
Develops and delivers training and awareness programs within the business unit to increase awareness of and compliance to risk management requirements.
Ensures required internal regulatory, compliance reporting is carried out on a timely basis as required by relevant regulatory bodies and the Bank.
Manages business unit risk in keeping with the Enterprise Risk Appetite as well as within the Risk Appetite statements of each BMO Operational Risk Type
Represents the business unit to the business line Governance Specialist in support of implementation and execution of Country-level Governance programs.
Adheres to business-specific risk management standards and guidelines and where needed, designs, develops, implements, and manages a set of business-specific processes, tools and templates to support these standards and proactive diagnostic assessment of all potential quality control ‘problem points’ within product/process/procedure related systems, legal forms, documentation, etc.
Provides risk management direction and subject matter expertise to key line of business initiatives to support appropriate assessment of Operational, Compliance, AML other risk types and implementation of controls, metrics, monitoring and testing appropriate to those risks.
Provides leadership, subject matter expertise and guidance for specific event management requirements/initiatives as required.
Builds relationships with other group level Operational Risk & Compliance functions to ensure consistent and comprehensive implementation of performance of Operational Risk, and Compliance accountabilities.
Builds relationships with 2nd line of defence to provide insights into the business, and to understand emerging issues and expected regulatory changes.
Builds relationships with external stakeholders (e.g. Regulators), Corporate Audit, Finance, Legal, ERPM and other corporate groups as needed
Identifies systemic issues and develops and executes on recommendations to resolve them and inform appropriate parties.
Conducts regular investigations of issues with stakeholders across the organization to assess and recommend solutions.
Ensures the effective implementation of Bank initiatives and programs through the establishment of appropriate context and setting of direction for direct reports by providing relevant information, establishing goals, and setting limits with the context and prescribed limits of the group Head.
Develops, implements, reviews and revises a 1–2-year work plan including: vision, mission, values, operational and resource plans.
Complies with the Bank’s Risk Appetite framework and ensures risk-taking activities remain within agreed limits and comply with all regulatory requirements.
Role models driving simplicity and productivity enhancements for optimization across groups driving continuous improvement on key measures.
Activates our winning culture, aligned with Purpose.
Ignites engagement by aligning our culture to our strategy and fueling exceptional execution.
Fosters diversity, equity and inclusion and creates an inclusive environment for all employees by eliminating barriers to inclusion.
Develops leaders, plans for succession, and fosters a high-performance culture.
Drives top talent acquisition and retention, developing organizational capabilities to drive competitive advantage.
Leads and mentors a team with diverse risk and business experience, skills, and orientation.
Leads, promotes, and reinforces the Bank’s Ambition; personally, role models One Bank leadership; drives sustainable improvements in customer loyalty and business growth; adheres and supports enterprise customer experience and brand standards.