Bank of Montreal
Head of Risk Identification and Emerging Events & Scenarios
Bank of Montreal, Chicago, Illinois, United States, 60290
Head of Risk Identification and Emerging Events & ScenariosLocation: Chicago, IL, USA
Time Type: Full time
Posted on: Posted Yesterday
Application Deadline: 09/29/2024
Address: 320 S Canal Street
Job Family Group: Audit, Risk & Compliance
The role of Head of Risk Identification and Emerging Events & Scenarios is crucial for effective risk management. This is led by:
Strategic Insights:
This role provides strategic insight by identifying potential risks that could impact BMO’s objectives, involving understanding and assessing internal and external factors affecting BMO’s earnings, capital, and liquidity resources.
Board Level Visibility:
The key stakeholders are the Board and Executive Committee, who require documentation and tracking of risks. The Risk ID inventory is key to bringing together the 9 types of risks that BMO is exposed to.
Regulatory Requirements:
This role will inform regulatory required stress tests and scenarios for capital planning purposes and for assessing vulnerabilities to severe yet plausible events, e.g., geo-political risk impact.
This newly developed role has breadth of coverage across all Operating Groups and Corporate Service Areas across North America, integrating across BMO’s 9 Risk Types.
Responsibilities include:
Providing oversight, monitoring, and reporting on the identification, assessment, monitoring, and control of all categories of risk (Market, Operational, Credit, and Liquidity risks) across the enterprise.
Developing and maintaining the risk management framework that includes governance practices across the assigned portfolio.
Executing decision rights within the governance framework and working with stakeholders to ensure compliance and effective reporting.
Owning the Risk Identification Framework and managing the Quarterly Refresh Cycle Process to update the Enterprise and US inventories.
Providing advice, tools, and training to Risk ID leads from 1st and 2nd line.
Leading and integrating the monitoring, measurement & reporting on the status of the risk governance program.
Identifying potential risk situations/impacts and making recommendations or escalations as per decision rights frameworks.
Researching existing or emerging requirements & related best practices to assist and develop recommendations for changes/enhancements.
Building effective relationships with internal/external stakeholders.
Maintaining tools and templates for risk programs and standards as required.
Promoting and supporting the Bank’s risk culture.
Driving simplicity and productivity enhancements for optimization across groups.
Fostering diversity, equity, and inclusion.
Developing leaders and fostering a high-performance culture.
Leading and mentoring a team with diverse risk and business experience.
Qualifications:
Post secondary education.
10+ years experience in financial services.
Expert knowledge of risk management, audit, compliance, and governance practices.
Ability to manage multiple priorities with effective planning and organizing skills.
Expert verbal & written communication skills.
Expert analytical and problem-solving skills.
Expert influence skills.
Expert collaboration & team skills, with a focus on cross-group collaboration.
Expert data-driven decision-making skills.
Seasoned expert with extensive industry knowledge.
Please note the target base salary range for this specific position is noted as a range from $200,000 USD to $260,000 USD depending on experience.
We’re here to help
At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. We strive to help you make an impact from day one – for yourself and our customers.
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.
#J-18808-Ljbffr
Time Type: Full time
Posted on: Posted Yesterday
Application Deadline: 09/29/2024
Address: 320 S Canal Street
Job Family Group: Audit, Risk & Compliance
The role of Head of Risk Identification and Emerging Events & Scenarios is crucial for effective risk management. This is led by:
Strategic Insights:
This role provides strategic insight by identifying potential risks that could impact BMO’s objectives, involving understanding and assessing internal and external factors affecting BMO’s earnings, capital, and liquidity resources.
Board Level Visibility:
The key stakeholders are the Board and Executive Committee, who require documentation and tracking of risks. The Risk ID inventory is key to bringing together the 9 types of risks that BMO is exposed to.
Regulatory Requirements:
This role will inform regulatory required stress tests and scenarios for capital planning purposes and for assessing vulnerabilities to severe yet plausible events, e.g., geo-political risk impact.
This newly developed role has breadth of coverage across all Operating Groups and Corporate Service Areas across North America, integrating across BMO’s 9 Risk Types.
Responsibilities include:
Providing oversight, monitoring, and reporting on the identification, assessment, monitoring, and control of all categories of risk (Market, Operational, Credit, and Liquidity risks) across the enterprise.
Developing and maintaining the risk management framework that includes governance practices across the assigned portfolio.
Executing decision rights within the governance framework and working with stakeholders to ensure compliance and effective reporting.
Owning the Risk Identification Framework and managing the Quarterly Refresh Cycle Process to update the Enterprise and US inventories.
Providing advice, tools, and training to Risk ID leads from 1st and 2nd line.
Leading and integrating the monitoring, measurement & reporting on the status of the risk governance program.
Identifying potential risk situations/impacts and making recommendations or escalations as per decision rights frameworks.
Researching existing or emerging requirements & related best practices to assist and develop recommendations for changes/enhancements.
Building effective relationships with internal/external stakeholders.
Maintaining tools and templates for risk programs and standards as required.
Promoting and supporting the Bank’s risk culture.
Driving simplicity and productivity enhancements for optimization across groups.
Fostering diversity, equity, and inclusion.
Developing leaders and fostering a high-performance culture.
Leading and mentoring a team with diverse risk and business experience.
Qualifications:
Post secondary education.
10+ years experience in financial services.
Expert knowledge of risk management, audit, compliance, and governance practices.
Ability to manage multiple priorities with effective planning and organizing skills.
Expert verbal & written communication skills.
Expert analytical and problem-solving skills.
Expert influence skills.
Expert collaboration & team skills, with a focus on cross-group collaboration.
Expert data-driven decision-making skills.
Seasoned expert with extensive industry knowledge.
Please note the target base salary range for this specific position is noted as a range from $200,000 USD to $260,000 USD depending on experience.
We’re here to help
At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. We strive to help you make an impact from day one – for yourself and our customers.
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.
#J-18808-Ljbffr