Specialist, NARP Risk Governance

BMO•Toronto, ON

1d•CA$56,000 - CA$103,500•Onsite

About The Position

This is a 6-month secondment role that supports the business/group leader in the effective implementation, maintenance, and administration of first line of defense (1st LOD) programs (e.g., operational risk, AML, regulatory, etc.). This includes overseeing business operations within the jurisdiction to ensure adherence and efficiency. The role contributes to a strong risk management culture by collaborating with other first line employees and second- & third-line functions to ensure risks are identified, mitigated, monitored, and reported on an ongoing basis. The position supports activities related to monitoring and testing of North American Retail and Small Business Payments controls to ensure adherence to established processes & procedures, service levels, standards, and regulatory requirements. It provides insights and recommendations on test results, findings, identified issues, and reperformance. The Specialist works with assigned business/group leaders to implement 1st LOD programs and frameworks, developing and maintaining an in-depth understanding of applicable regulatory and internal risk management requirements, and interpreting and advising on the application of these requirements for the business/group. The role ensures the maintenance of the Processes, Risks & Controls (PRC) Library in GRCE and assists in the completion of the business unit’s Product/Service and Process Risk Assessment (PSPRA). It also assists with the implementation of risk management programs/frameworks while identifying and minimizing negative impacts to the business, and develops and implements risk mitigation strategies. The Specialist acts as a subject matter expert in the evaluation, development, and implementation of an internal control system, building effective relationships with internal/external stakeholders and ensuring alignment between them. The role involves breaking down strategic problems, analyzing data and information to provide insights and recommendations, and developing, documenting, and maintaining business/group procedures, updating and obtaining approvals as regulations or the operating environment changes, and communicating changes to the business/group & relevant stakeholder groups. It supports the development of measurable sustainment strategies, including assessing and recommending mitigations for industry/segment-specific risks and prioritizing opportunities presented by internal and external stakeholders. The Specialist supports the management of the 1st LOD program for the business/group in compliance with appropriate principles, standards & direction from the second line of defense groups, including developing and promoting the program and ensuring the execution of all program components. The role involves developing and maintaining an understanding of the business/group strategies and objectives, products and services, internal and external stakeholders, and business processes, as well as the underlying infrastructure to identify and manage implications and risk exposures for the business/group. It analyzes the impact and effectiveness of the program through periodic reviews and recommends adjustments to the overall program, policy, or processes within the business/group in accordance with the Risk Appetite Statement, Governance, and Corporate Policy. The Specialist supports the business/group through internal/external audits or regulatory examinations and assists in the development of action plans to resolve any identified issues. The focus is primarily on the North American Retail Payments business/group within BMO, but may have a broader, enterprise-wide focus. The role exercises judgment to identify, diagnose, and solve problems within given rules, and works independently on a range of complex tasks, which may include unique situations. Broader work or accountabilities may be assigned as needed.

Requirements

Between 4 - 6 years of relevant experience
Post-secondary degree in related field of study or an equivalent combination of education and experience.
Collaboration & team skills - In-depth.
Analytical and problem-solving skills - In-depth.
Influence skills - In-depth.
Verbal & written communication skills – In-depth.
Data driven decision making - In-depth.
Knowledge of BMO’s credit card products, services and systems (i.e., TS2) - Good.

Responsibilities

Supports the business/group leader in the effective implementation, maintenance and administration of first line of defense (1st LOD) programs (e.g., operational risk, AML, regulatory, etc.), including overseeing business operations within the jurisdiction to ensure adherence and efficiency.
Contributes to a strong risk management culture through collaboration with other first line employees, and second- & third-line functions to ensure risks are identified, mitigated, monitored and reported on an ongoing basis.
Supports activities related to monitoring and testing of North American Retail and Small Business Payments controls to ensure adherences to established processes & procedures, service levels, standards and regulatory requirements.
Provides insights and recommendations on test results, findings, identified issues, reperformance.
Works with assigned business/group leaders to implement 1st LOD programs and frameworks, developing and maintaining an in-depth understanding of the applicable regulatory and internal risk management requirements.
Interprets and provides advice on the application of the requirements for the business/group.
Ensures maintenance of Processes, Risks & Controls (PRC) Library in GRCE.
Assists in the completion of business unit’s Product/Service and Process Risk Assessment (PSPRA).
Assists with the implementation of risk management programs/frameworks while identifying and minimizing negative impacts to the business.
Develops and implements risk mitigation strategies.
Acts as a subject matter expert in the evaluation, development and implementation of an internal control system.
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.
Develops, documents and maintains business/group procedures updating and obtaining approvals as regulations or the operating environment changes and communicates changes to the business/group & relevant stakeholder groups.
Supports the development of measurable sustainment strategies including assessing and recommending mitigations for industry/segment-specific risks and prioritizing opportunities presented by internal and external stakeholders.
Supports the management of 1st LOD program for the business/group in compliance with appropriate principles, standards & direction from the second line of defense groups.
Includes developing and promoting program and ensuring the execution of all program components.
Develops and maintains an understanding of the business/group strategies and objectives, products and services, internal and external stakeholders and business processes as well as the underlying infrastructure to identify and manage implications and risk exposures for the business/group.
Analyzes the impact and effectiveness of the program through periodic reviews.
Recommends adjustments to the overall program, policy or processes within the business/group in accordance with the Risk Appetite Statement, Governance and Corporate Policy.
Supports the business/group through internal/external audits or regulatory examinations and assists in development of action plans to resolve any identified issues.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently on a range of complex tasks, which may include unique situations.
Broader work or accountabilities may be assigned as needed.