Senior Manager - U.S. Enterprise Risk

BMO•Chicago, IL

1d•$102,000 - $190,000

About The Position

Provides oversight, monitoring and reporting on the identification, assessment, monitoring and control of all categories of risk (Market, Operational, Credit, and Liquidity risks) for a designated portfolio and / or jurisdiction. Develops and maintains the risk management framework that includes the governance framework and practices leveraged across the assigned portfolio to manage all risks taken. Provides policies, standards, methodologies and controls that increase transparency, accuracy and consistency across groups. Executes decision rights within the governance framework and works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting and identification of action plans. 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. Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders. Attracts, retains, and enables the career development of top talent. Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance. Provides strategic input into business decisions as a trusted advisor. Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group. Acts as a subject matter expert on relevant regulations and policies. May network with industry contacts to gain competitive insights and best practices. Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution. Leads the execution of initiatives/programs; assesses and adapts as needed to ensure quality of execution. Acts as the prime subject matter expert for internal/external stakeholders. Defines business requirements for analytics & reporting to ensure data insights inform business decision making. Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives. Directs the planning & implementation of operational programs for an assigned risk portfolio / strategy and executes within required service level agreements and standards. Leads and integrates the monitoring, measurement & reporting on the status of the risk governance program to internal & external stakeholders. Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines Administers and maintains risk program activities in adherence to all policies, procedures and established processes for risks taken within the Risk Appetite of the Bank. Identifies potential risk situations/ impacts and make recommendations or escalates as per decision rights frameworks and guidelines. Assists with the interpretation of new or changing regulations and assessing impacts to the risk programs and governance frameworks; recommends and implements solutions based on analysis of issues and implications for the business. Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance. Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements. Initiates and facilitates productive forums, where stakeholders can discuss, debate, and decide on key risk concerns. Builds effective relationships with internal/external stakeholders e.g. business stakeholders and Corporate Support Areas (CSAs) in providing ‘second line of defense’ information and risk management support. Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives. Maintains tools and templates for risk programs and standards as required (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX); business continuity planning standards and policies, etc.) Monitors and tracks performance; addresses any issues. Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders. 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. Broader work or accountabilities may be assigned as needed.

Requirements

Typically 7+ 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
Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert
Able to manage ambiguity
Data driven decision making - In-depth / Expert

Responsibilities

Provides oversight, monitoring and reporting on the identification, assessment, monitoring and control of all categories of risk
Develops and maintains the risk management framework
Provides policies, standards, methodologies and controls that increase transparency, accuracy and consistency across groups
Executes decision rights within the governance framework and works with stakeholders to implement the methodology, metrics and program standards
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do
Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders
Attracts, retains, and enables the career development of top talent
Provides strategic input into business decisions as a trusted advisor
Acts as a subject matter expert on relevant regulations and policies
Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution
Leads the execution of initiatives/programs; assesses and adapts as needed to ensure quality of execution
Acts as the prime subject matter expert for internal/external stakeholders
Defines business requirements for analytics & reporting to ensure data insights inform business decision making
Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives
Directs the planning & implementation of operational programs for an assigned risk portfolio / strategy and executes within required service level agreements and standards
Leads and integrates the monitoring, measurement & reporting on the status of the risk governance program to internal & external stakeholders
Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines
Administers and maintains risk program activities in adherence to all policies, procedures and established processes for risks taken within the Risk Appetite of the Bank
Identifies potential risk situations/ impacts and make recommendations or escalates as per decision rights frameworks and guidelines
Assists with the interpretation of new or changing regulations and assessing impacts to the risk programs and governance frameworks; recommends and implements solutions based on analysis of issues and implications for the business
Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance
Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements
Initiates and facilitates productive forums, where stakeholders can discuss, debate, and decide on key risk concerns
Builds effective relationships with internal/external stakeholders e.g. business stakeholders and Corporate Support Areas (CSAs) in providing ‘second line of defense’ information and risk management support
Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives
Maintains tools and templates for risk programs and standards as required (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX); business continuity planning standards and policies, etc.)
Monitors and tracks performance; addresses any issues
Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders
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
Broader work or accountabilities may be assigned as needed