Risk Programs Senior Manager

Application Deadline:

06/16/2025

Address:

320 S Canal Street

Job Family Group:

Business Management

Key Responsibilities:

This role supports the business/group leader in the effective implementation, maintenance and administration of first line of defense (1st LOD) programs (e.g., operational risk, compliance, regulatory, etc.), including overseeing business operations within the jurisdiction to ensure adherence and efficiency. Contributes to a strong risk management culture through collaboration with other first line employees, and second & third line functions to ensure Compliance or operational risks are identified, mitigated, monitored and reported on an ongoing basis.

• Deep understanding of risk frameworks across the bank.
• Manages/supports large/complex risk programs/frameworks /projects/initiatives to ensure risks are appropriately mitigated and regulations adhered to.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Builds effective relationships with internal/external stakeholders.
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
• Works with assigned business/group leaders to implement 1st LOD programs and frameworks, developing and maintaining an in-depth understanding of the applicable regulatory and internal risk management requirements. Interprets and provides advice on the application of the requirements for the business/group.
• Recommends adjustments to the overall program, policy or processes within the business/group in accordance with the Risk Appetite Statement, Governance and Corporate Policy.
• Provides specialized consulting, analytical and technical support.

Risk Identification:

• Conduct regular materiality assessments of P&BBs’ risks leveraging BMO’s risk taxonomy and risk identification process across all business units.
• Assist in identifying P&BB data sources for use in data-driven methodologies for quantifying financial, non-financial and transverse risks.
• Monitor for emerging risks and ensure they are accounted for in the risk identification inventory.

Risk Appetite Development and Management

• Ensure P&BB complies with BMO’s risk appetite framework.
• Ensure that P&BB’s risk appetite is integrated into business planning, strategy, and decision-making processes.
• Collaborate with senior leadership to define and communicate risk appetite and tolerance levels through quantitative measurements (i.e., KRMs).
• Monitor actual risk exposures with the established risk appetite and provide recommendations for adjustment when necessary.

Risk Reporting and Analysis:

• Work with Business Unit and Business Risk & Control functions to establish, monitor and refresh KRIs.
• Prepare risk profiles for senior management leveraging key risk metric (KRM) and key risk indictor (KRI) data in conjunction with qualitative insights.
• Ensure risk mitigations plans are in place and actioned when KRMs and KRIs exceed tolerance levels.
• Establish clear risk escalation protocols.
• Collaborate with other reporting partners to ensure alignment and overall messaging in risk reporting.

Collaboration and Stakeholder Engagement:

• Work closely with cross-functional teams to properly identify, assess, and manage our risks through enterprise programs such as Risk ID, Risk Appetite, E&S Risk, etc.
• Engage with internal and external stakeholders including auditors, regulators, and industry experts to keep abreast of emerging risks and best practices.
• Participate in employee training sessions on risk management when required.

Continuous Improvement:

• Continuously improve the risk identification process and provide feedback into the 2nd line provided tools to ensure they provide valuable and relevant risk information to executives and business units and are effective in identifying risk in rapidly changing business environment.
• Stay current with industry standards, regulations, and best practices.

Qualifications:

• Proven experience in risk management, risk governance, business management, or a related field.
• Professional certifications in a Risk Management field or similar is an advantage.
• Proven experience with 2nd line programs such as risk ID and risk appetite
• Strong understanding of risk appetite frameworks, risk tolerance levels and governance practices
• Experience across diverse risk taxonomies including