Bank of Montreal
Manager, Structural Market Risk Oversight
Bank of Montreal, Chicago, Illinois, United States, 60290
Manager, Structural Market Risk Oversight
Location: Chicago, IL, USATime Type: Full timePosted on: Posted 3 Days AgoApplication Deadline: 10/18/2024Address: 320 S Canal StreetJob Family Group: Audit, Risk & ComplianceOur ideal candidate has a background with Treasury and ALM combined with experience with QRM, and a background in math and finance. This is a very interesting and challenging area where you are able to see the connection between ALM and the rest of the balance sheet and see why ALM truly matters.Provides market risk oversight, monitoring, and reporting for a designated portfolio. Develops and monitors the market risk management framework that includes the governance framework and practices leveraged across BMO to manage market risk. Provides policies and standards, methodologies, and controls to 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 and effective monitoring, timely reporting and identification of action plans.Analyze the risk metrics (Economic Value of Equity, PV01, Earnings at Risk…) from modelling, interest rate, and balance sheet changes/movements.Responsible for the monitoring Structural Market Risk limits set by the bank as a second line of defense function. Deviations and excesses from Structural Market Risk limits require investigation and sign-off from executives.Prepared presentations and materials on Structural Market Risk position to be discussed at committee meetings comprised of senior leaders of Market Risk and Corporate Treasury for strategic discussions.Acts as a trusted advisor to assigned business/group.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.Ensures alignment between stakeholders.Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.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.Guides/assists in the identification and classification of issues; recommends action plans.Leads and integrates the monitoring, measurement & reporting on the status of the market 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 market risk framework.Leads/participates in the design, implementation and management of core business/group processes.Administers and maintains the market risk monitoring and control program activities in adherence to all policies, procedures and established processes.Reviews new business initiatives and monitors existing initiatives to identify potential risk situations/ impacts; makes recommendations or escalates to the manager, as per guidelines.Monitors the financial market environment and market risk model performance impacts for optimal execution of risk strategies.Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of market risk for adherence to all policies and procedures applicable to the transaction based on established processes; documents and reports results of evaluations on an individual and summary basis.Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures.Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.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.Analyzes data and information to provide insights and recommendations.Monitors and tracks performance; addresses any issues.Coordinates and monitors the review and sign-off of regulatory reporting and attestations.Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.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.Qualifications:Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.CFA designation preferred.In-depth knowledge and understanding of asset liability management and market risk management practices.In-depth knowledge of regulatory requirements.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.Salary:
$94,300.00 - $174,900.00Pay Type:
SalariedBMO 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.We’re here to helpAt 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.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. BMO is an equal opportunity/affirmative action employer.Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate.
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Location: Chicago, IL, USATime Type: Full timePosted on: Posted 3 Days AgoApplication Deadline: 10/18/2024Address: 320 S Canal StreetJob Family Group: Audit, Risk & ComplianceOur ideal candidate has a background with Treasury and ALM combined with experience with QRM, and a background in math and finance. This is a very interesting and challenging area where you are able to see the connection between ALM and the rest of the balance sheet and see why ALM truly matters.Provides market risk oversight, monitoring, and reporting for a designated portfolio. Develops and monitors the market risk management framework that includes the governance framework and practices leveraged across BMO to manage market risk. Provides policies and standards, methodologies, and controls to 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 and effective monitoring, timely reporting and identification of action plans.Analyze the risk metrics (Economic Value of Equity, PV01, Earnings at Risk…) from modelling, interest rate, and balance sheet changes/movements.Responsible for the monitoring Structural Market Risk limits set by the bank as a second line of defense function. Deviations and excesses from Structural Market Risk limits require investigation and sign-off from executives.Prepared presentations and materials on Structural Market Risk position to be discussed at committee meetings comprised of senior leaders of Market Risk and Corporate Treasury for strategic discussions.Acts as a trusted advisor to assigned business/group.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.Ensures alignment between stakeholders.Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.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.Guides/assists in the identification and classification of issues; recommends action plans.Leads and integrates the monitoring, measurement & reporting on the status of the market 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 market risk framework.Leads/participates in the design, implementation and management of core business/group processes.Administers and maintains the market risk monitoring and control program activities in adherence to all policies, procedures and established processes.Reviews new business initiatives and monitors existing initiatives to identify potential risk situations/ impacts; makes recommendations or escalates to the manager, as per guidelines.Monitors the financial market environment and market risk model performance impacts for optimal execution of risk strategies.Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of market risk for adherence to all policies and procedures applicable to the transaction based on established processes; documents and reports results of evaluations on an individual and summary basis.Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures.Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.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.Analyzes data and information to provide insights and recommendations.Monitors and tracks performance; addresses any issues.Coordinates and monitors the review and sign-off of regulatory reporting and attestations.Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.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.Qualifications:Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.CFA designation preferred.In-depth knowledge and understanding of asset liability management and market risk management practices.In-depth knowledge of regulatory requirements.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.Salary:
$94,300.00 - $174,900.00Pay Type:
SalariedBMO 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.We’re here to helpAt 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.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. BMO is an equal opportunity/affirmative action employer.Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate.
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