Senior Manager, Wealth Management Risk

at  BMO Financial Group

100 King Street West Toronto Ontario,M5X 1A1
In this individual contributor level role, you will have an opportunity to work on M&T (Monitoring & Testing) to see all of the key controls to operate in Wealth to become a very well rounded risk professional.
Our ideal candidate holds either a CPA, CFA or has internal audit experience, combined with an understanding of Operational Risk, experience building and testing control libraries, Wealth Management and testing of operational risk or compliance.
BMO is hiring a Senior Manager to join their team.
We are seeking an experienced and skilled individual to join the Wealth Management Risk Team. This team, as part of the second line of defense, is responsible for overall risk oversight of the Wealth Management Operating Group. The Senior Manager, Wealth Management Risk will lead the execution of 2nd line of defense responsibilities for review and effective challenge of the Wealth Management Monitoring & Testing program, establish and maintain the Team’s Process, Risk and Control library, Risk Assessment and Monitoring & Testing program as well support 2nd line defense oversight of BMO Insurance’s investment portfolio. The successful candidate will be able to provide strategic leadership, subject matter expertise on risk management and collaborate across 1st and 2nd line of defense teams.

Key responsibilities include:

• Leads analysis, engagement and discussion with business to supporting monitoring/oversight of Risk activities.
• Provides strategic input into business decisions as a trusted advisor.
• 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.
• May network with industry contacts to gain competitive insights and best practices.
• Interprets new regulations and assesses impacts to the governance framework.
• Develops reports on the status of the governance program or framework components to various internal & external stakeholder audiences.
• Influences and negotiates to achieve business objectives.
• Identifies emerging issues and trends to inform decision-making.
• Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Measures the effectiveness of risk governance system and framework; recommends changes as required.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the governance system and framework.
• Acts as the prime subject matter expert for internal/external stakeholders.
• Ensures alignment between stakeholders.
• Designs and produces regular and ad-hoc reports, and dashboards.
• Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
• Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• Leads and integrates the monitoring, measurement & reporting on the status of the operational risk governance program to internal & external stakeholders.
• 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’ 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.
• Maintains tools and templates for operational risk programs (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX) or regulatory compliance), as required.
• Mature and maintain 2LOD oversight of the BMO Insurance Investment Portfolio, coordinating with the WM CRO, BMO Insurance CRO, and ERPM Credit and Market Risk colleagues as required.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• 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.
• 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.
• In-depth / expert knowledge operational risk and familiarity with credit, liquidity, and market risk management practices for investment products.
• In-depth / expert knowledge of the designated business / product portfolio.
• In-depth / expert knowledge of regulatory requirements.
• In-depth / expert knowledge & experience with risk policy frameworks; quality control / testing frameworks.
• Seasoned professional with a combination of education, experience and industry knowledge.
• 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.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert.

• Leads analysis, engagement and discussion with business to supporting monitoring/oversight of Risk activities.
• Provides strategic input into business decisions as a trusted advisor.
• 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.
• May network with industry contacts to gain competitive insights and best practices.
• Interprets new regulations and assesses impacts to the governance framework.
• Develops reports on the status of the governance program or framework components to various internal & external stakeholder audiences.
• Influences and negotiates to achieve business objectives.
• Identifies emerging issues and trends to inform decision-making.
• Recommends business priorities, advises on resource requirements, and develops roadmap for strategic execution.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Measures the effectiveness of risk governance system and framework; recommends changes as required.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the governance system and framework.
• Acts as the prime subject matter expert for internal/external stakeholders.
• Ensures alignment between stakeholders.
• Designs and produces regular and ad-hoc reports, and dashboards.
• Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
• Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• Leads and integrates the monitoring, measurement & reporting on the status of the operational risk governance program to internal & external stakeholders.
• 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’ 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.
• Maintains tools and templates for operational risk programs (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX) or regulatory compliance), as required.
• Mature and maintain 2LOD oversight of the BMO Insurance Investment Portfolio, coordinating with the WM CRO, BMO Insurance CRO, and ERPM Credit and Market Risk colleagues as required.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• 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.
• Broader work or accountabilities may be assigned as needed