Manager, Monitoring (Enterprise AML)

Application Deadline:

12/16/2024

Address:

100 King Street West

Job Family Group:

Audit, Risk & Compliance

This individual contributor position is in downtown Toronto and offers a hybrid work arrangement with at least 2 days per week on-site and other days remote.

If you’re looking for your next dream job, consider this one in BMO’s ERPM Risk group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture. #ERPMDreamJobs

The role reports to the Senior Manager overseeing the 2nd line AML Monitoring & Testing team, primary responsibilities under the position include leading testing of key internal AML/ATF and related controls across the enterprise. The Manager will lead and execute testing engagements and provide insights and recommendations on testing results, findings, identified issues, re-performance testing, and continuous improvement insights of various complexity, ensuring adherences to the team's established service levels, standards, and practices.

Develops and maintains an effective internal control framework that defines the ways and methods governance is implemented, managed, and monitored in the designated business/group portfolio. The governance framework includes policies, guidelines and provides programs, practices and measures to promote transparency, accuracy, consistency across groups. Applies specialized knowledge of risk management, regulatory compliance and internal controls related to business processes and information.

Responsibilities will include, but are not limited to:

Quality Assurance, Testing & Validation Responsibilities:

• Performs testing on design of controls as required e.g. observation, inspection, replication, recalculation to ensure risks are identified and controls are effective. Specifically, leading the execution of end-to-end AML/ATF testing assignments ensuring consistent, high-quality testing practices/work is delivered within expected timelines and aligned to the team’s standard methodology and testing processes.

• Reviews processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls, based on an understanding of regulatory requirements, enterprise-wide expectations. Specifically, designing and executing testing fieldwork that is complex in nature and requiring an AML/ATF subject matter expertise, including (but not exclusive to) review of business artifacts, and customer and transaction data.

• Documents the internal control governance system, processes and framework to describe compliance requirements, activities, processes, roles & responsibilities. Specifically, creating and maintaining detailed testing support documentation such as workpapers, testing reports, etc. to support the results of reviews of AML/ATF controls and processes, including the write-up of findings/issues for reporting.

• Analyzes data and information to provide insights and recommendations.

• Provides advice and guidance to assigned business/group on the implementation of the control framework, including effective challenge.

• Analyzing root causes of any findings/issues discovered to provide for effective communication to appropriate parties, by applying critical thinking and assessing materiality. Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.

• Guides/assists in the identification and classification of issues; recommends action plans.

Communication & Reporting Responsibilities:

• Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels. Specifically, providing insights and recommendations, including through formal verbal and written mediums. Drafting reports that are concise and clear, articulating the issues such that they are well understood, unambiguous and actionable.

• Consults with stakeholders to improve consistency and transparency of control measurement/metrics and reporting.

• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.

• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.

• Acts as a trusted advisor to assigned business/group.

• Builds effective relationships with internal/external stakeholders.

• Ensure