VP Risk ID, Emerging Risks & Scenarios

Bank of Montreal•Chicago, IL

2d•$102,000 - $190,000

About The Position

Identifying of Emerging Risks and Events is a critical foundational element of BMO’s Risk Management Framework, notably to ensure sufficient capital adequacy is maintained during periods of stress. The Risk Identification (“Risk ID”) team manages critical foundational elements including identification, assessment and monitoring of material & emerging risks. The Risk ID program is in the process of executing an optimized target state roadmap which has transformed it to be fully integrated and in harmony with first and second Lines of Defence business as usual (BAU) processes and reporting to deliver a strongly supported material & emerging risk inventory that systematically informs stress test scenario designs. As the Vice President of Emerging Risks & Scenarios, you will support our existing and target state emerging risks identification, assessment, reporting and monitoring process, which includes, but is not limited to, the following: Develop and implement a target state emerging risks identification, assessment and monitoring process and reporting that is comprehensive, efficient, structured and is rooted in comprehensive sourcing, what-if scenarios and full integration with risk inventory/material risks to deliver dynamic, insightful and actionable emerging risk reporting including early warning indicators. BAU management of monthly emerging risks process by: being a key point of contact and trusted partner for stakeholders that ensures a highly transparent, efficient and structured process/playbook is being executed and delivering quality controlled, insightful and actionable reporting to management committees and the Board. Develop and implement a robust central system/tool to document, update, store and report on emerging risk external sources, emerging risks inventory and early warning indicators.

Requirements

7+ years of relevant Emerging Risks & Events experience at large financial institutions (preferably Global Systemically Important Banks (GSIBs), or Domestic Systemically Important Banks (DSIBs).
In depth / Expert knowledge of economics, risk management, modeling/forecasting, and/or stress testing.
Knowledge of banking products, including credit and non-credit experience, economics and financial markets.
In-depth / Expert communication and relationship management skills.
In-depth / Expert ability to manage multiple priorities with effective planning and organizing skills.
In-depth / Expert 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 ability to manage ambiguity.

Responsibilities

Develop and implement a target state emerging risks identification, assessment and monitoring process and reporting that is comprehensive, efficient, structured and is rooted in comprehensive sourcing, what-if scenarios and full integration with risk inventory/material risks to deliver dynamic, insightful and actionable emerging risk reporting including early warning indicators.
BAU management of monthly emerging risks process by: being a key point of contact and trusted partner for stakeholders that ensures a highly transparent, efficient and structured process/playbook is being executed and delivering quality controlled, insightful and actionable reporting to management committees and the Board.
Develop and implement a robust central system/tool to document, update, store and report on emerging risk external sources, emerging risks inventory and early warning indicators.
Develop and implement a highly efficient, consistent and insightful process to map existing and proposed emerging risks to material risks to understand risk inventory coverage and understanding of new and/or evolving emerging risks.
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.
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.