Director, Operational Risk Audit - Corporate Areas  …

Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Director, Operational Risk Audit - Corporate Areas
Under the direction of the Managing Director, the Director is accountable to support the enterprise and the assigned Corporate Areas Group in maintaining effective management processes and system of internal control. An effective audit function provides vital assurance to the board of directors and senior management as to the quality of the internal control system and in so doing helps reduce the risk of loss and reputational damage to the company. The function is instrumental in identifying unacceptable / high risk circumstances which could lead to material impact on profitability or reputation. The Director is responsible for directing the conduct of audit engagements which critically assess management and internal control processes, approving the nature, extent and timing of the audit, its execution and the formulation of an insightful audit reports which provide clear, concise and memorable insights on issues and possible issues which will assist management in fulfilling its responsibilities.
  • Supporting Corporate Audit leadership in management of a strong internal audit practice, instilling a high performance culture which embeds the "Being BMO" principles.
  • Contributing through direct actions to the Division's stature and independence within the enterprise.
  • Supporting staff in the management of their careers and realization of their professional goals.


Proactively identify changing strategies, tactics, risks and initiatives continuously following the appropriate audit and investigative services with the appropriate focus:
  • Meet with key client executives regularly to identify changing strategies, tactics, and initiatives across the business group/corporate area and critically evaluate and direct changes to the nature, extent and timing of the audit and related procedures. Critical to the success of the Division is a client group that is satisfied that Corporate Audit is well aligned to their strategies, tactics and objectives and is proactive in providing meaningful insights to them.
  • Direct the execution of audits in full recognition of the risks of the client group which encompass the inherent risks, control risks and internal/external environmental and regulatory risks.
  • Develop an annual audit plan which is well aligned to client strategies and tactics and encompasses appropriate areas of focus based upon the business and operating risks of the unit. A measure of success if that the Plan is supported by the Chief Auditors and Audit Committee.

Providing fair and balanced insights into current, emerging and potential issues, trends and opportunities that will enhance efficiency and effectiveness of management and the enabling control processes:
  • Develop audit reports which are insightful and provide a fair and balanced assessment of management and control processes based upon critical assessment of the effectiveness of management and internal control processes.
    Such reports will be clear, concise and timely in their delivery. Ensure that reports are and are seen by readers to be an objective assessment of management/control processes.
  • Develop and review with clients' periodic summary reports of insights which relay information and learnings from audits and other Division information sources, including market insights and research and regulatory learnings which will assist client groups in evaluating their strategies, tactics and risks and provide a basis to adjust where appropriate.
  • Develop specific and where appropriate broad communications which identify revenue and cost management opportunities for business units/groups which will assist in achieving their business goals including profitability.
  • Demonstrate consistently strong judgment on audit outcomes and processes.
  • Critically evaluate client business strategies, policy and standards providing meaningful insights based upon knowledge and research which will continue to improve the enterprise management and control processes.
  • Develop and maintain strong working relations with key clients' managers/ executives.
  • Provide timely and insightful support to Chief Auditors in the preparation of Audit Committee reports including state of current management activities, potential and emerging issues, and areas of potential focus.
  • Develop and maintain strong working relationships with corporate areas that will provide valuable information exchange opportunities that can enhance audit execution and alignment with their strategies/tactics.
  • Provide the Chief Auditors with strategic and tactical advice and support on interaction with regulators providing similar advice to client business and Corporate Areas.
  • Provide "big picture" insights based upon knowledge and research enhancing the Division's value proposition with senior leadership and business/Corporate Areas groups.

Drive positive change in the enterprise based upon high quality work, thoughtful in its preparation and direction:
  • Maintain a high level of knowledge of the industry and of the client group, the regulators and broad economic environment availing the client of the knowledge in the development of their strategic and tactical plans and operations.
  • Ensure that all audits for which the role is responsible are conducted effectively and efficiently to the high standards set out by the Division, outcomes of which are confirmed through the Division's Quality Assurance Program and/or regulatory examination results.
  • Ensure that the work of subordinates is well executed in accordance with the Division's standards and that their judgments are sound, well documented and repeatable.
  • Provide overall supervision to the execution of audits ensuring conduct is professional and consistent with professional standards.
  • The incumbents and their subordinates conduct audits with integrity and objectivity.
  • Ensure the appropriate Chief Auditor approval is obtained for audit and specialized reports prepared following the required audit/advisory work.
  • Open and effective lines of communication are maintained with the client executive/representative throughout the audit process from initial planning to report distribution and follow-up. Clients should feel engaged, well informed and satisfied that their views of risk have been considered. Clients should not be "surprised".

Leading a workforce that is knowledgeable about our business and specialized within their audit field, understanding the external market, thinking about the efficiency and effectiveness of management and control processes, being seen as highly credible and using their ingenuity to add value:
  • Engaged in hiring of staff that are knowledgeable, meet the Division skills and experience requirements, and who will add to the overall capability of the Division.
  • Direct staff in a manner consistent with the goals/objectives of the Division and the enterprise, contributing to a strong and effective culture.
  • Manage regular performance and performance assessment of all staff for which they are responsible. Recognize the appropriate value of timing of rewards.
  • Build and maintain a high performing work team consistent with a "strong" audit function through coaching and interaction with staff.
  • Continue to grow and advance the capabilities of staff and team through practice initiatives focused on knowledge and culture.
  • Be a positive role model for staff demonstrating the principles and values set by the Division and the enterprise.
  • Be and be seen as a leader among Directors through creative thinking, proactive initiatives and active participation in leadership forums within the Division.
  • Be and be seen as a knowledgeable "go to" person on business, client and audit technical matters keeping current on new thinking/practices.

  • Effectively manage conflict when it arises with clients and with colleagues and staff.

  • Support the culture within Corporate Audit as it continues to evolve with advice to Chief Auditors, and demonstrating conduct which is aligned with messages.

Continually advance the professional practice:

  • Provide input into the strategic direction of the Division's practice including key elements of a "strong" audit practice, the strategic approach to audits for the assigned business/corporate group and strategy for functioning of the centre of competency in which the role has responsibility.
  • Be and be seen as a subject matter expert with specific technical competencies which is the central point of reference on a subject area for the Division and in the determination point for the Division's views and practices on the topic. In so doing this role will ensure that programs are developed and communicated aligned to the Division's needs, proactive in the conveyance of knowledge, and alert for emerging/potential issues related to the competency.
  • Provide tactical input to the Chief Auditors on the practical aspects of practice development, conveying staff needs to initiate change and evaluating/assessing proposed changes for application and feasibility.
  • Advance the Division's overall functioning by ensuring that practices and methodology application are maintained at the high quality level expected of a strong internal audit practice. A highly credible source of knowledge, strategically, technically and managerial to support the Chief Auditors.


  • Undergraduate degree or equivalent with 10+ years of direct relevant experience in an audit or business/corporate function.
  • Graduate degree is desirable / helpful.
  • Professional or business qualification is required (e.g., CPA)
  • Expert knowledge in internal controls and risk assessment.
  • High level of knowledge of trends and best practices in internal control and business of the assigned LOB.
  • Expert knowledge of their assigned centre of competency.

  • Strong interpersonal, relationship management and communication skills.
  • Expert planning and organising skills with the ability to manage multiple priorities.

  • Expert leadership and managerial skills.
  • In-depth negotiation, influencing, conflict resolution skills.
  • Expert analytical and system thinking skills.
  • Strategic and tactical thinking capabilities.

We're here to help

At BMO we have a shared purpose; we put the customer at the centre of everything we do - helping people is in our DNA. For 200 years we have thought about the future-the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we're changing the way people think about a bank.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one - for yourself and our customers. We'll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we'll help you gain valuable experience, and broaden your skillset.

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BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other's differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.