Vice President, Global Markets Business Control – Commodities

BMO • New York, NY

5d • $150,000 - $180,000

About The Position

The Vice President, Global Markets Business Control – Commodities sits within the Global Markets Business Control team, part of Governance and Controls in the Capital Markets Office of the Chief Operating Officer. Reporting to the Director, GM Business Control, the role provides first-line operational and process risk coverage for Commodities across physical and derivative activity in metals, energy, agricultural, and environmental products, with particular depth in execution risks arising from physical commodity activity.

The position 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. It leads Commodities operational risk programs, including MORA and equivalent frameworks for other commodity classes, covering inventory, storage, transportation, providers, and related risks. The VP partners with business and support teams to identify, control, escalate, and report material operational risks, while keeping decision-makers informed through clear analysis and governance materials.

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 associated operational risks, controls, and governance frameworks.
• Knowledge of physical commodities business models and end-to-end trade lifecycles, including 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.
• Strong written, verbal, and interpersonal communication skills, including the ability to explain complex operational and process risks clearly and credibly to senior executives and business, risk, audit, and specialist stakeholders.
• Proactive, self-directed approach and ability to develop expertise in new initiatives, changing business activity, emerging risks, and business priorities.
• Confident and collaborative; a problem solver and decision maker who proposes solutions; motivated, calm under pressure, able to manage competing priorities, and able to anticipate needs.

Nice To Haves

• Graduate degree and/or relevant professional designation.
• Experience in metals, energy, agricultural, or environmental markets is strongly preferred.
• 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

• Provide first-line business control coverage for Commodities processes, controls, and execution risks.
• Own the Commodities Process Risk & Control (PRC) inventory, including process documentation, risk and control mapping, control ownership, and periodic or trigger-based updates.
• Execute the annual PSPRA for Commodities, including assessments of new products and activities.
• Develop and report Commodities KRIs and control KPIs, including limit, inventory, and event-driven measures, with trend analysis to inform risk appetite and business decisions.
• Manage controls, identify vulnerabilities and efficiency opportunities, support control testing and evidence quality, and track remediation.
• Lead investigation and root cause analysis of events and issues 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 practical controls are designed into changes from inception.
• Maintain Commodities Business Impact Assessments and Business Continuity Plans and coordinate testing and evidence for resilience obligations.
• Lead operational risk 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.
• Monitor inventory, insurance certificates, and limits across providers, locations, clients, and jurisdictions, including increases, excesses, breaches, and country risk exposure; approve limits in IMS when delegated.
• Coordinate and execute site visits and due diligence, including findings and follow-up.
• Own assessment questionnaires, procedures, monitoring tools, and governance documentation, including refreshes, second-line challenge, and approval.
• Develop a consolidated operational risk program across commodities, extending beyond metals to energy, agriculture, and other physical sectors, including country risk tiering, scoring, and monitoring.
• Advise on products, clients, storage and transportation arrangements, jurisdictions, and business initiatives by identifying operational, process, insurance, third-party, and related execution risks across the commodity lifecycle.
• Coordinate 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, to support timely assessment and escalation without duplicating their accountabilities.
• Produce monthly Commodities operational risk updates covering inventory, providers, limits, assessment status, and workstream progress.
• Prepare first-line materials and speaking points for risk and control committees, including business spotlights 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 controls.

Benefits

• Health insurance
• Tuition reimbursement
• Accident insurance
• Life insurance
• Retirement savings plans
• Performance-based incentives and discretionary bonuses may be included in the total compensation package

What This Job Offers

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