Senior Manager, Operation Risk Management Senior Manager, Operation Risk Management …

Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Competitive
Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Competitive
Senior Manager, Operation Risk Management
Mandate:

Responsibilities include supporting the Enterprise Operational Risk mandate as it applies through the following key
accountabilities:
• Lead end to end and/or represent ORM, as a SME, on key operational risk projects to drive continuous improvement and
key initiatives
• Accountable for the development, documentation, maintenance and oversight of operations governance risk models, risk
control frameworks and programs from end-to-end for large-size designated line of business (LOB) portfolios of high risk
and/or complexity to ensure that operational risks are appropriately identified, measured, reported and managed in
alignment with the organization's tolerances for risk and in compliance with laws, regulations and internal policies and
standards
• As required, act as primary contact for executives and senior management and as a subject matter expert (SME),
providing guidance and advice in assigned area of operational risk management and change management, ensuring
effective due diligence to facilitate awareness and mitigation of potential areas of risk

Key Accountabilities

1. Lead Special Projects & Change Management
• Lead and/or represent ORM, as SME, on key risk projects, deep dives and game plans to drive continuous
improvement in operational risk management. This involves analyzing problems and generating creative solutions by
collaborating with the team, providing leadership, as well as managing projects.
• Consult to the development and maintenance of operational risk programs to ensure that new initiatives and and/or
significant changes to business conduct/ operations are governed in accordance with the Bank's Initiative Assessment
and Approval Process (IAAP) and new standards and policies.
• Monitor changes in Corporate programs/ policies and regulatory changes to ensure compliance and that designated
LOB is fully up to date; advise and provide guidance to appropriate business units, as required.
• Anticipate and/or interpret the impacts of business changes and/or regulatory changes on controls and effective
operational risk management; recommend mitigating actions, as necessary.
• Represent area of expertise on large scale, enterprise projects and initiatives to provide context, information and
analysis on proposed changes. Initiatives may include the development and implementation of new/ revised products,
new systems or enhancements, new/ revised processes in support of internal efficiencies and industry regulatory
changes.
• Represent the operational risk discipline during change impact analysis and assessment, technology and business
requirements-gathering, business case development, solution development, review and sign-off, implementation
planning and support, issue escalation and management, sustainment and change acceptance, leadership updates and
recommendations, using advanced knowledge of operational risk function and processes.

2. Risk & Control
• Risk Program Management and Governance
• Implement/ facilitate the end-to-end operational risk programs and frameworks that ensure designated LOB unit
compliance with internal and external guidelines, policies and regulations; interpret implications, requirements
and potential issues for appropriate executive and senior management decision-making.
• Act as SME and relationship manager to designated LOB units, and as coordinator of contact points between
external regulators and or designated LOB groups, providing leadership, advice, guidance, consultation and
direction in the area of expertise to executives and senior management to ensure operational risk management
processes are in accordance with internal and external standards and guidelines.
• Act in an independent oversight capacity, monitoring operational risk management and mitigation, and
regulatory compliance adherence in the area of expertise.
Supp ort the 1st line business process for identifying and assessing the operational risk inherent in all material
new products and processes. Facilitate enterprise change management processes (IAAP, RCA, loss reporting,
etc.).
• In line with the capital model, continue to build transparency around the end-to-end view of Operational Risk
within the subject businesses.
• Integrate appropriate information obtained from a variety of internal and external sources (e.g., Corporate Audit,
Corporate Compliance, Shareholder Auditors, Corporate Support Areas [CSA], regulatory reports and
governance frameworks), overseeing maintenance of risk within acceptable levels; analyze and produce timely
reports for executives, senior management and key stakeholders. Provide guidance as needed.
• Obtain sufficient information from impacted group(s) when potential significant deficiencies or material
weaknesses or non-compliance are identified to ensure appropriate investigative groups are engaged (e.g.,
CSAs); ensure remedial activities are appropriately documented to satisfy external review.
• Represent designated LOB interests and risk status in Corporate forums, as assigned, and influence Corporate
policy related to area(s) of expertise; represent and review Corporate policy on behalf of designated LOB,
consolidating responses and providing feedback and advice.
• Identify the need for and monitor training and education, as SME, in program area(s).
• Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and
the Bank and to ensure compliance with Bank P&Ps.
• Oversee risk with the intent to align losses to the LOB Risk Appetite through monitoring and controlling various
reports and taking appropriate action, ensuring compliance requirements, audits and verifications are completed
in accordance with Bank P&Ps.
• Implement reporting that is sufficient to demonstrate designated LOB state of compliance, satisfy Corporate
governance and external testing requirements by such bodies as Shareholders' Auditors and Regulators, and
ensure effective due diligence in support of required attestations.
• Analyze, produce and distribute timely key risk reporting within area of expertise for executives and senior
management within designated LOB and/or at the enterprise level including BMO Board reporting which are
used to make strategic decisions on meeting business objectives and to provide governance on the overall risk
framework.
• Monitor and report on impacts of deficiencies related to operational risk programs and requirements and overall
effectiveness of controls; recommend mitigating solutions and actions.
• Risk Knowledge Management
• Identify, create, distribute and enable the adoption of risk knowledge (e.g., regulation, best practices, case
studies, risk events, professional associations and consultant practices used) to facilitate a high degree of risk
awareness that drives improved performance and knowledge transfer/ exchange, and is a key component of a risk
governance framework.
• Contribute to knowledge repositories (e.g., libraries, documentation and support materials) ensuring
completeness, accuracy, timeliness and security/integrity of information to support the advancement of risk
management capability and proficiency.
• Ensure high quality, accessible information for staff, managers and executives.
• Identify and recommend business improvement opportunities related to area(s) of expertise.
• Advise and counsel executives and senior management on risk reporting, exposures, programs and plans.
• Support education and awareness programs for operational risk within designated LOB. Sponsor operational risk
education for new staff and executives.

3. Business Performance Management
• Monitor and analyze opportunities for risk management improvement; recommend solutions.
• Act as SME to translate laws, regulations, standards and policies into practical methodologies and approaches that
can be implemented for multiple and/or larger initiatives/ projects of a more complex nature and/or the introduction
of new/revised processes and systems, including process redesign to compliment the change management/ product
support strategy for the business unit, adhering to and maintaining established standards and practices.
• Provide coaching and/or training sessions to executives and senior management in area(s) of expertise, and provide
feedback on gaps and opportunities.
• Build and maintain relationships with industry contacts (internal and external), regulatory officials and external
consultants for the purpose of enhancing business effectiveness within the scope of accountability.
• Support the delivery of exceptional customer service that builds trust through responsive, accurate, consistent,knowledgeable and available services and support.
• Align individual performance goals to team and organizational goals.
• Demonstrate behaviours that are consistent with "Our Way" model and aligned with BMO values.

Qualifications
Knowledge & Skills:


Knowledge:
• University degree/college diploma or equivalent
• 10+ years' experience in operational risk management, financial planning & strategy
processes within the financial services industry
• 5+ years' experience working with financial products in the front line is preferred
• Expert knowledge and understanding of the theories and concepts of strategy
development, change management and implementation.
• Knowledge and understanding of BMO's Initiative Assessment and Approval
Process (IAAP).
• Solid knowledge of standard desktop applications used by the business unit
• Expert knowledge and understanding of the designated LOB unit's key products and
services, processes, controls and organization
• Expert understanding of operational risk and related control frameworks and
practices from end-to-end
• Expert understanding of the designated LOB unit's end-to-end risk and regulatory
requirements
• Advanced understanding of industry practices and risk reporting fundamentals
• Solid knowledge of departmental systems and applications
• Solid understanding and knowledge of the business planning process, reporting
cycles and requirements, protocols for sign-offs and information sharing, and key
business metrics
• Solid understanding of system design, databases and business intelligence techniques
• Expert understanding of end-to-end risks inherent in areas of expertise.



Skills:
• Strong leadership abilities
• Strong project management skills
• Advanced facilitation/ presentation and change management skills
• Advanced written and oral communication skills, with the capability to present and
articulate complex concepts
• Advanced report design and writing skills, with ability to create and organize
varying forms of business information while developing it into cohesive,
meaningful, professional reports and presentations
• Advanced stakeholder relationship management skills
• Excellent conceptual skills, with an ability to quickly understand concepts and
translate them into meaningful information (incl presentation & communication
skills to effectively execute change)
• Strong ability to influence others.
• Advanced prioritization skills
• Strong attention to detail and organizational skills
• Advanced planning skills (re finance, resource, strategy, business)
• Strong conflict management/ resolution skills
• Strong teamwork skills
• Strong logic and data integration skills
• Good analytical and problem-solving skills


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.


To find out more visit us at https://bmocareers.com .


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.
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