Vice President, Global Markets Business Control – Commodities

BMO • New York, NY

2d • $90,000 - $180,000

About The Position

The Vice President, Global Markets Business Control – Commodities provides first-line business control coverage for Commodities across Global Markets, spanning physical and derivative activity in metals, energy, agricultural, and environmental products. The role focuses on operational and process execution risk throughout the commodity lifecycle, including process and control documentation, risk assessment, control monitoring, issues and events, key risk indicators, business continuity, and management reporting. A key priority is leading physical commodities operational risk programs, including MORA and successor frameworks, covering storage, transportation, inventory, providers, and related execution risks.

The position sits within the Global Markets Business Control team, part of Governance and Controls within the Capital Markets Office of the Chief Operating Officer, and reports to the Director, GM Business Control. It is a key first-line control contact for Commodities, working with business heads and desk leadership on process execution risks, incidents, control gaps, and changes to products, clients, providers, locations, or operating models. The role partners with Operations, Technology, Corporate Risk Insurance, Third Party Risk, Physical Security, first-line Centers of Excellence, and second-line Operational Non-Financial Risk. Regulatory Business Control, Compliance, and Legal are distinct partners for matters requiring regulatory interpretation or dedicated regulatory control coverage.

The role also leads assessments and governance frameworks for BMO-owned commodity inventory, storage, and transportation; provides risk input on products, clients, arrangements, jurisdictions, and business initiatives; and translates risk and control activity into decision-ready insight for business leadership and governance forums.

Requirements

• Undergraduate degree in Business Administration, Risk Management, Economics, Finance, or a related discipline.
• At least 5 years of experience in commodities, Capital Markets, banking, or financial services, with demonstrated responsibility for operational risk, process execution, business controls, operations, physical commodity logistics, or related disciplines.
• Direct experience supporting physical commodities trading, commodity merchants, logistics or storage operators, commodity financing, or commodity risk management.
• Strong understanding of Global Markets activities, with depth in Commodities sales, trading, financing, and origination and their associated operational risks, controls, and governance frameworks.
• Knowledge of physical commodities business models and end-to-end trade lifecycles, including risks involving logistics, storage, transportation, inventory, settlement, third-party providers, and related control points.
• Ability to analyze complex commodity transactions and operating arrangements and translate process or execution risks into clear financial, operational, and business impacts.
• Proven ability to manage significant incidents, issues, and crisis situations in a fast-paced environment.
• Experience working across front-office businesses, Operations, Technology, first-line Centers of Excellence, second-line risk, audit, and specialist partners to resolve control gaps and deliver remediation.
• Advanced proficiency with Microsoft Office Suite, including Excel, PowerPoint, Word, Power BI, and Visio.
• Excellent organizational skills and ability to create and execute detailed short- and long-term work plans.
• Ability to build positive stakeholder relationships within Capital Markets and across Corporate Support Areas.
• Effective written and verbal communication skills at all levels, including senior executives, with the ability to present complex operational and process risks clearly and credibly.
• Proactive, self-directed approach and ability to develop depth quickly in new initiatives, changing business activity, emerging operational risks, and business priorities.
• Strong problem-solving, decision-making, interpersonal, and teamwork skills; ability to propose solutions, anticipate needs, remain calm under pressure, and manage competing priorities.

Nice To Haves

• Graduate degree and/or relevant professional designation.
• Experience in metals, energy, agricultural, or environmental markets.
• Familiarity with the regulatory environment and market practices applicable to commodities, with judgment to identify potential regulatory implications and engage Regulatory Business Control, Compliance, or Legal as appropriate.

Responsibilities

• Own the Commodities Process Risk & Control inventory, including process documentation, risk and control mapping, control ownership, and periodic and trigger-based updates.
• Execute the annual PSPRA for Commodities, including assessments of new products and new activities.
• Develop and report Commodities key risk indicators and control key performance indicators, including limit, inventory, and event-driven measures, with trend analysis.
• Own controls management; identify vulnerabilities and efficiency opportunities; support control testing, evidence quality, and remediation tracking.
• Lead incident and issue investigations and root cause analysis with the business, agree remediation actions and owners, and ensure timely recording, reporting, and escalation.
• Provide operational and process risk input for business changes, technology initiatives, audits, and remediation, ensuring controls are incorporated from inception.
• Maintain Commodities Business Impact Assessments and Business Continuity Plans, and coordinate testing and evidence for resilience obligations.
• Lead assessment frameworks for BMO-owned inventory, storage, and transportation, including MORA and equivalents for other commodity classes.
• Assess new providers and locations, including scoring, escalation, and approval routing; conduct periodic and trigger-based reviews of approved providers, facilities, and clients.
• Perform daily inventory, insurance certificate, and limit monitoring across providers, locations, clients, and jurisdictions; manage limit increases, excesses, breaches, and country risk exposure, and approve limits in IMS where delegated.
• Coordinate and execute the site visit and due diligence program, including findings and follow-up.
• Own assessment questionnaires, procedures, monitoring tools, and governance documentation, including periodic refresh, second-line challenge, and approval.
• Build a consolidated commodities operational risk program extending beyond metals to energy, agricultural, and other physical sectors, including country risk tiering, scoring, and monitoring.
• Advise on new products, clients, storage and transportation arrangements, jurisdictions, and business initiatives, identifying operational, process, insurance, third-party, and related execution risks.
• Coordinate engagement with specialist partners, including ONFR, Corporate Risk Insurance, Physical Security, AML, Third Party Risk, Country and Credit Risk, Regulatory Business Control, Compliance, Legal, and Tax.
• Produce the monthly Commodities operational risk update covering inventory, providers, limits, assessment status, and workstream progress.
• Prepare first-line materials and speaking points for risk and control committees, including business spotlight and thematic reviews.
• Provide Commodities Sales, Trading, and Origination leadership with risk posture commentary, options, and recommendations.
• Partner with Operations, Technology, and first-line Centres of Excellence on system, data, and process enhancements that strengthen the control environment.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans
• Performance-based incentives and discretionary bonuses may be included in the total compensation package.
• Training, coaching, manager support, and network-building opportunities.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior