Senior Manager, Initiative Assessment and Approval Process (IAAP)

Application Deadline:

02/27/2025

Address:

100 King Street West

Job Family Group:

Audit, Risk & Compliance

The Senior Manager, Initiatives Assessment and Approval Process (IAAP) - Operational Non-Financial Risk (ONFR) is accountable for re-envisioning, leading and building an enterprise framework which supports the end to end risk assessment and management of all new initiatives, products and services offered across BMO. This opportunity will allow you to present ideas, solutions and process improvement efficiencies to senior leaders within the organization while executing on these deliverables. In this capacity your ability to think strategically and critically, manage relationships in a consultative and influencing manner will be critical. If you thrive in an ever changing, evolving and challenging environment this could be your dream job and we would like to hear from you.

This role is Hybrid (minimum 2-3 days per week in office @ First Canadian Place site, subject to change)

Key Accountabilities

Lead the Initiatives Assessment and Approval Process (IAAP) framework

• Provide thought leadership and strategic thinking in the evolution and development the existing governance supporting the banks COIAA (Control Over Initiative Assessment and Approval ) Directive and associated guidance surrounding the Initiatives Assessment and Approval Process (IAAP).
• The governance framework includes policies, guidelines and provides programs, practices and measures to promote transparency, accuracy, consistency across groups.
• Works with business/group and internal partners to ensure regulatory obligations are met and influences and negotiates across all groups within the bank with a direct or indirect impact to the IAAP to achieve business objectives.
• Act as the primary SME and contact person for all IAAP related guidance across the bank for both 1st and 2nd line teams across the enterprise.
• Advises business/group on implications of new regulatory developments and provide guidance on change management as applicable.
• Develop and lead training sessions across all groups on IAAP guidance on the current process and any changes related to framework changes, processes, systems, or regulatory requirements. 
• The individual will be accountable for the annual assessment of the effectiveness of the program, methodology changes and program documentation updates as applicable
• Recommends and implements solutions based on analysis of issues and implications for effective management of IAAPs
• Participate in any ROE assessments that are conducted on the IAAP or initiative implementation for potential change in risk parameters
• Assist in the development and maintenance of other related operational risk programs
• Acts as the prime subject matter expert for internal/external stakeholders for the IAAP
• Promote an operational risk culture and create awareness of impacted risk programs
• Monitor, analyze, and communicate opportunities for operational risk management improvement, including recommending solutions
• Support and/or deliver change management

Risk Knowledge and Program Management

• Support the end-to-end operational risk programs, frameworks and technology that ensure designated unit/cross unit compliance with internal and external guidelines, policies and regulations in collaboration with ONFR team and leadership.
• Interpret outcomes from the OROs and identify potential issues for appropriate executive and senior management decision-making.
• Performs monitoring and testing activities on the end to end IAAP process to ensure regulatory controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to material control failures in business/group.
• Report and escalate on instances of non-compliance with IAAP requirements across the enterprise.
• 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
• Support end users across the enterprise through GRCE or IAAP workflow challenges
• Support the ONFR leadership as a SME and serve as a coordinator of contact points between external regulators and/or designated ORO 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
• Advise and counsel executives and senior management on risk exposures, programs and plans
• Oversee and report on ONFR related except