Senior Manager, Commercial Risk Appetite

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Senior Manager, Risk Appetite

Supports the business/group leader in the effective implementation, maintenance and administration of first line of defense (1st LOD) Risk Appetite program, including linkage to strategic planning, limit setting, and capital planning and overseeing business operations to ensure adherence and efficiency. Contributes to a strong risk management culture through collaboration with other first line employees, and second & third line functions to ensure risks are identified, mitigated, monitored and reported on an ongoing basis.

Risk Appetite, Risk Identification & Assessment (“Risk ID”), and Emerging Events & Scenarios (“EES”), including limit setting, are critical foundational elements of BMO’s Risk Management Framework.  The Foundational Risk program is in the early stages of executing an optimized target state roadmap that will transform it to be fully integrated and in harmony with 1st LoD BAU processes and reporting to deliver a strongly supported material and emerging risk inventory.  Material and emerging risks will be integrated with risk appetite, strategic planning and stress testing to deliver efficient, consistent and valuable risk reporting to management committees and the Board to guide the overall operations of BMO Commercial Bank.  As Senior Manager, Risk Appetite, you will be a key member of a highly dedicated team leading this extraordinarily valuable transformation and managing the resulting optimized business-as-usual (“BAU”) target state by delivering structured, disciplined, diligent and thoughtful leadership and support across many enhancements/efforts.

• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
• Acts as a subject matter expert on relevant regulations and policies.
• Operates at a group-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Works with assigned business/group leaders to implement 1st LOD risk programs and frameworks, developing and maintaining an in-depth understanding of the applicable regulatory and internal risk management requirements. Interprets and provides advice on the application of the requirements for the business/group.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Develops Risk Appetite qualitative statements
• Incorporates cascaded metrics (including concentration limits) from Tier-1 Risk Heads at the Operating Group, Line of Business, and Legal Entity level
• Develops and implements an efficient and consistent target state integration of material risks with Risk Appetite Limits/KRMs/KRIs along with clear linkage to Strategic and Capital Planning to deliver efficient, holistic and insightful risk reporting
• Understands metric definitions and related calculations
• Recommends / set boundaries (thresholds)
• Monitors and tracks performance against Risk Appetite metrics and Concentration Limits; provides thematic analysis to address issues
• Builds awareness as the business is approaching metric thresholds
• Escalates breaches and coordinate management action plans when breaches occur
• Assesses whether business risk profile is within stated Risk Appetite
• Presents dashboards and management action plans at risk committees and governance forums
• Secures approvals for Risk Appetite statements and dashboards
• Acts as a strategic partner in which the program elements becomes an integrated component of the overall business/group strategies and helps drive business impact.
• Prepares and briefs senior leaders on regulatory matters across multiple businesses/groups.
• Represents the business/group on Governance/Risk Working Groups/Forums and provides regular updates.
• Monitors and advises on management of risk requirements within the defined risk appetite.
• Manages/supports large/complex risk programs/frameworks /projects/initiatives to ensure risks are appropriately mitigated and regulations adhered to.
• Monitors industry and legislative developments and continuously updates programs to ensure they are competitive and effective.
• Identifies and understands risk exposures and supports the development of action plans required to mitigate identified risks.
• Acts as a subject matter expert in the evaluation, development and implementation of an internal control system.
• Tracks exception/exemption requests and corresponding approvals.
• Builds awareness, knowledge, and skills and, as necessary, provides communication, practical tools and ongoing support including making presentations, to promote a culture of risk identification and management.
• Implements changes in response to shifting trends.
• May network with industry contacts to gain competitive insights and best practices.
• Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
• Leads the execution of strategic initiatives to deliver on business and financial goals.
• Conducts independent analysis and assessment to resolve strategic issues.
• Builds effective relationships with internal/external stakeholders.
• Ensures alignment between stakeholders.
• Acts as the prime subject matter expert for internal/external stakeholders.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Monitors to ensure that 1st line jobs are following defined processes and procedures.
• Identifies, investigates, analyzes, documents & mitigates risks, taking into account jurisdictional issues, and raises any issues or concerns to senior leaders and other stakeholders.
• Supports the business/group through internal/external audits or regulatory examinations and assists in development of action plans to resolve any identified issues.
• Develops, documents and maintains business/group procedures updating and obtaining approvals as regulations or the operating environment changes and communicates changes to the business/group & relevant stakeholder groups.
• Provides quality control for investigations, self-reports, examinations and independent reviews conducted by internal and external stakeholders, including regulators, providing verbal and written responses to requests for positions, action plans, information and/or documentation
• Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Leads the execution of initiatives/programs; assesses and adapts as needed to ensure quality of execution.
• Designs measurable sustainment strategies including assessing and recommending mitigations for industry/ segment-specific risks and prioritizing opportunities presented by internal and external stakeholders.
• Facilitates training to ensure business unit employees fully understand requirements.
• Supports the management of 1st LOD program for the business/group in compliance with appropriate principles, standards & direction from the second line of defense groups. Includes developing and promoting program and ensuring the execution of all program components.
• Develops and maintains an understanding of the business/group strategies and objectives, products and services, internal and external stakeholders and business processes as well as the underlying infrastructure to identify and manage implications and risk exposures for the business/group.
• Analyzes the impact and effectiveness of the program through periodic reviews.
• Recommends adjustments to the overall program, policy or processes within the business/group in accordance with the Risk Appetite Statement, Governance and Corporate Policy.
• Provides support to the development and delivery of training and awareness programs within the business/group to increase awareness of and compliance to risk management requirements.
• Broader work or accountabilities may be assigned as needed.

Qualifications:

• Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Knowledge of risk management and/or Commercial Banking – In-depth / Expert.
• Ability to manage multiple priorities with effective planning and organizing skills.
• Viewed as thought leader for change and innovation.
• Knowledge of business and regulatory environment and understanding of risk issues / trends and best practices – In-depth / Expert.
• Verbal & written communication and relationship management 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.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert.

Salary:

Pay Type:

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

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 http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.