Director, US Model Governance

Application Deadline:

Address:

320 S Canal Street

Job Family Group:

Audit, Risk & Compliance

Provides oversight, monitoring and reporting on model risk for the Enterprise and US portfolios. Develops and monitors the model risk management and governance framework and practices leveraged across BMO; ensures compliance with regulatory guidance and expectation for Model Risk Management and serves as a regulatory liaison. Develops and implements Model Risk policies and standards, risk rating methodologies, and controls to increase transparency, accuracy, and consistency across groups.

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• Ensures alignment between values and behaviour that fosters diversity and inclusion.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
• Develops an expert understanding of business/group challenges.
• Networks with industry contacts to gather competitive insights and best practices.
• Recommends measures to improve organizational effectiveness.
• May consult to or serve on various committees and task forces.
• Interprets new regulations and assesses impacts to the governance framework.
• 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.
• Leads the development and maintenance of the model risk management governance framework and inventory systems.
• Acts as the prime contact for internal/external stakeholder relationships, which include regulators.
• Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
• 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 with respect to model risk and required actions.
• Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
• Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Assesses and adapts existing operational programs; develops new capabilities to ensure ongoing success.
• Manages the review and sign-off process for relevant regulatory reporting.
• Leads and integrates the monitoring, measurement and reporting on the status of the model risk governance program to internal and 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 model validation / risk framework.
• Leads in the design, implementation and management of core business/group processes. Oversees effective challenge to model stakeholder operating procedures to ensure compliance with requirements and expectation of the Model Risk Management Framework.
• Oversees compliance control and testing to ensure model life cycle activities adheres to all policies, procedures and established processes; documents and reports results of evaluations on an individual and summary basis.
• Provides guidance to, and oversees the assigned business/group on implementation of the risk framework. Monitors and reports material risk including compliance gaps, and required remediation actions, to relevant committees. Assesses education and training needs, develops/delivers training on MRM framework and expectations.
• Develops and oversees reporting for complete, comprehensive and consistent risk measurement, including KRM/KRI, and escalation where needed.
• Develops and coaches employe