Third Party Risk Manager

BMO•Toronto, ON

1d•CA$56,000 - CA$103,500

About The Position

In-depth knowledge of Global Third-Party Risk Management processes, lifecycle, and third-party risk to support effective and proactive compliance with regulatory obligations in alignment with the Bank’s Risk Management Framework and approved Risk Appetite. Management of risk stakeholder program execution and interaction with Third Party Risk Specialists/Supplier Managers to manage and pursue completion of past due programs with escalation, as applicable. Responsible for providing training and education to the Global Third-Party Risk Management team consisting of changes in the risk tool, team procedures, and regulatory changes, as applicable. Develop and maintain documentation for the Global Third-Party Risk Management Team including but not limited to operating environment changes or regulations including obtaining approvals. Assist with audit and exam preparation and follow-up. Investigation of second line of defense effective challenge inquiries. Manages/supports large/complex risk programs/frameworks /projects/initiatives to ensure risks are appropriately mitigated and regulations adhered to. Supports the execution of strategic initiatives in collaboration with internal stakeholders. Build awareness, knowledge, and skills and, as necessary, provides communication, practical tools and ongoing support including creating presentations, to promote a culture of risk identification and management. Contributes to a strong risk culture through collaboration with 1LOD, and engagement with Second Line of Defense (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and processes are identified, assessed, measured and managed within the approved risk appetite, and reported on an ongoing basis.

Requirements

Between 5 - 7 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 Third-Party Risk Management practices and methodologies.
Experience with segmenting, analyzing, and reporting risk related data.
Strong analytical skills to gather relevant information, compare and identify trends, develop conclusions with well-supported recommendations.
Experience with compiling and validating materials for updates at senior level forums and/or committees.
Familiar with financial products and services.
Strong communication skills, both verbal and written.
Ability to build and foster stakeholder relationships.
Excellent analytical and problem-solving skills, with an eye for detail.
Strong proficiency with PowerBI, PowerPoint, Excel, and SharePoint.
Ability to multitask and work independently.

Responsibilities

Management of risk stakeholder program execution and interaction with Third Party Risk Specialists/Supplier Managers to manage and pursue completion of past due programs with escalation, as applicable.
Responsible for providing training and education to the Global Third-Party Risk Management team consisting of changes in the risk tool, team procedures, and regulatory changes, as applicable.
Develop and maintain documentation for the Global Third-Party Risk Management Team including but not limited to operating environment changes or regulations including obtaining approvals.
Assist with audit and exam preparation and follow-up.
Investigation of second line of defense effective challenge inquiries.
Manages/supports large/complex risk programs/frameworks /projects/initiatives to ensure risks are appropriately mitigated and regulations adhered to.
Supports the execution of strategic initiatives in collaboration with internal stakeholders.
Build awareness, knowledge, and skills and, as necessary, provides communication, practical tools and ongoing support including creating presentations, to promote a culture of risk identification and management.
Contributes to a strong risk culture through collaboration with 1LOD, and engagement with Second Line of Defense (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and processes are identified, assessed, measured and managed within the approved risk appetite, and reported on an ongoing basis.