Risk Governance & Controls Specialist

BMO•Toronto, ON

9d•Onsite

About The Position

This role offers a significant opportunity to develop deep expertise in Commercial governance and control design. The individual will play a visible and trusted role, partnering with stakeholders across Commercial to enhance the integrity, clarity, and consistency of the Process, Risk & Control (PRC) library. Through direct engagement with the business and close collaboration with 2nd Line partners, this position provides meaningful exposure to risk management practices, control design standards, and enterprise governance expectations, while fostering strong stakeholder management and subject matter expertise. The specialist will develop and maintain an effective internal control framework, applying specialized knowledge of risk management and internal controls related to business processes and information. They will act as a subject matter expert for the PRC library, advising on existing controls, coverage, and alignment to risks and processes. The role also involves supporting strategic initiatives, providing guidance on control framework implementation, building stakeholder relationships, reviewing processes for risk mitigation, coordinating oversight activities, and assisting with the interpretation of new or changing regulations.

Requirements

Typically between 4 - 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
In-depth knowledge of business and regulatory environment.
In-depth knowledge & experience with risk policy frameworks; quality control/testing frameworks. e.g. SOX 404, COBIT and COSO frameworks.
Technical proficiency gained through education and/or business experience.
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 - In-depth.

Nice To Haves

Experience in risk management, audit, compliance, governance and/or project management.

Responsibilities

Develops and maintains an effective internal control framework that defines the ways and methods governance is implemented, managed, and monitored in the designated business/group portfolio.
Applies specialized knowledge of risk management and internal controls related to business processes and information.
Is relied upon as a subject matter expert for the PRC library, maintaining deep knowledge of the control inventory to advise stakeholders on existing controls, control coverage, and alignment to risks and processes.
Partners with stakeholders across Commercial to identify, document, and maintain controls within the PRC library.
Ensures each control is clearly documented using the 5Ws (Who, What, When, Where, Why), with sufficient precision to support consistency, transparency, and effective testing.
Identifies and documents the end-to-end process and risk(s) each control is designed to mitigate.
Confirms and documents the control owner and central point of contact accountable for ongoing execution and maintenance.
Develops and maintains control test scripts aligned to control design, execution, and risk intent.
Works closely with 2nd Line Risk and Compliance partners to support effective challenge, review, and refinement of controls and related test scripts.
Leads or assists with the maintenance, monitoring, measurement & reporting on the status of the internal controls governance framework/program to various internal & external stakeholder audiences.
Develops tools, checklists and communications to address gaps, issues and new requirements.
Utilizes enterprise-wide Operational Risk systems and tools for analysis, forecasting and management reporting.
Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
Develops governance and control-related solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
Provides advice and guidance to assigned business/group on the implementation of the control framework, including effective challenge.
Builds effective relationships with internal/external stakeholders.
Ensures alignment between stakeholders.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Participates in defining the communication plan designed to positively influence or change behavior; develops tailored messaging; and identifies appropriate distribution channels.
Supports change management of varying scope and type; tasks typically focused on execution and sustainment activities.
Leads or assists in the execution of oversight/governance activities.
Reviews processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls.
Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures; management of review/updates to policies, etc.
Consults with stakeholders to improve consistency and transparency of control measurement/metrics and reporting.
Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.
Analyzes data and information to provide insights and recommendations.
Documents the internal control governance system, processes and framework to describe compliance requirements, activities, processes, roles & responsibilities.
Monitors and tracks performance; addresses any issues.