Wholesale Markets and Banking ONFR Analyst (New or Recent Graduate Opportunity) Immediate Start Date

BMO•Chicago, IL

4d•Onsite

About The Position

This role provides oversight, monitoring, and reporting on operational risks for Capital Markets and Commercial Banking. It involves developing and monitoring the operational management framework, including governance practices, to manage operational risks across BMO. The position provides policies, standards, methodologies, and controls to enhance transparency, accuracy, and consistency. It requires working with stakeholders to implement methodologies, metrics, and program standards for the assigned portfolio to ensure compliance, effective monitoring, timely reporting, and identification of action plans. The analyst acts as a trusted advisor, guiding the identification and classification of issues, recommending action plans, and influencing negotiations to achieve business objectives. They will recommend and implement solutions based on issue analysis and business implications, assist in strategic plan development, and identify emerging issues and trends. The role also involves researching requirements and best practices, assisting with the interpretation of regulations and assessing impacts on governance frameworks, and helping to determine business priorities. Independent analysis and assessment to resolve strategic issues are key, as is leading the development and maintenance of the governance system and framework. Collaboration with internal and external stakeholders on strategic initiatives is expected, as is representing the model validation program for audits. The analyst will coordinate database management, ensure data alignment and integration according to data governance standards, and lead or participate in change management activities, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment. They will also lead or participate in defining communication plans to influence behavior, develop tailored messaging, and identify appropriate distribution channels. Leading and integrating the monitoring, measurement, and reporting on the operational risk governance program to stakeholders is a core responsibility, as is managing governance meetings and maintaining governing body mandates. The role may provide specialized support for other regulatory requirements and input into the planning and implementation of operational programs. Leading or participating in the design, implementation, and management of core business processes, and administering operational risk program activities in adherence to policies and procedures are also part of the role. Identifying potential risk situations and making recommendations or escalating to management is required. Developing and maintaining in-depth knowledge of business, risk management requirements, and regulatory directives is essential. Building effective relationships with stakeholders, including business groups and Corporate Support Areas (CSAs), to provide 'second line of defense' operational risk management support is crucial. Analyzing data and information to provide insights and recommendations, including identifying risk impacts for new processes and workflows, is expected. Monitoring and tracking performance, addressing issues, and coordinating the review and sign-off of attestations and reporting are also key. Maintaining tools and templates for operational risk programs (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX), or regulatory compliance) is necessary. The focus is primarily on BMO business/groups, with the potential for a broader enterprise-wide focus. Specialized consulting, analytical, and technical support will be provided, exercising judgment to solve problems within given rules. The role involves working independently and handling non-routine situations, with the possibility of broader accountabilities being assigned.

Requirements

Relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
In-depth knowledge operational risk management practices.
In-depth knowledge of the designated business / product portfolio.
In-depth knowledge of regulatory requirements.
In-depth knowledge of quantitative techniques and economic capital methodologies.
In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.
Deep knowledge and technical proficiency gained through extensive education and business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.
Data driven decision making - In-depth.

Nice To Haves

Understand core components of operational non-financial risk, either through experience supporting a risk function or how it manifests.
Understands Commercial or Capital Markets business and functions products and how they make money, particularly trade life cycle or operational trade/transaction/loan support.

Responsibilities

Provides oversight, monitoring and reporting on operational risks for Capital Markets and Commercial Banking.
Develops and monitors the operational management framework that includes the governance framework & practices leveraged across BMO to manage operational risks.
Provides policies & standards, methodologies and controls that increase transparency, accuracy and consistency across groups.
Works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting and identification of action plans.
Acts as a trusted advisor to assigned business/group.
Guides/assists in the identification and classification of issues; recommends action plans.
Influences and negotiates to achieve business objectives.
Recommends and implements solutions based on analysis of issues and implications for the business.
Assists in the development of strategic plans.
Identifies emerging issues and trends to inform decision-making.
Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
Helps determine business priorities and best sequence for execution of business/group strategy.
Conducts independent analysis and assessment to resolve strategic issues.
Leads the development and maintenance of the governance system and framework.
Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
Represents the model validation program / portfolio for internal/external regulatory audits and/or examinations.
Ensures alignment between stakeholders.
Coordinates the management of databases; ensures alignment and integration of data in adherence with data governance standards.
Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.
Leads and integrates the monitoring, measurement & reporting on the status of the operational risk governance program to internal & external stakeholders.
Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
May provide specialized support for other internal and external regulatory requirements.
Provides input into the planning and implementation of ongoing operational programs in support of the operational risk framework.
Leads/participates in the design, implementation and management of core business/group processes.
Administers and maintains operational risk program activities in adherence to all policies, procedures and established processes.
Identifies potential risk situations/ impacts, and make recommendations or escalates to the manager, as per guidelines.
Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
Builds effective relationships with internal/external stakeholders e.g. business stakeholders and Corporate Support Areas (CSAs) in providing ‘second line of defense’ operational risk management support.
Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives.
Monitors and tracks performance; addresses any issues.
Coordinates and monitors the review and sign-off of attestations and reporting.
Maintains tools and templates for operational risk programs (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX) or regulatory compliance), as required.
Provides specialized consulting, analytical and technical support.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently and regularly handles non-routine situations.
Broader work or accountabilities may be assigned as needed.