Risk Manager- Legal & Regulatory Compliance

320 S Canal Street Chicago Illinois,60606

The Risk Manager will play a critical role supporting a high priority regulatory remediation program within Legal & Regulatory Compliance (LRC), with an immediate focus on policy gap assessments, documentation remediation, and regulatory compliance execution. This is a hands on role responsible for driving deliverables against regulatory timelines while coordinating across multiple stakeholders.

As remediation activity transitions to steady state, the role will evolve into a core LRC Risk Management position, providing ongoing governance, document lifecycle management, committee support, and recurrent risk reporting.

• Influences and negotiates to achieve business objectives.

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

• Recommends and implements solutions based on analysis of issues and implications for the business.

• Assists in the development of strategic plans.

• Identifies emerging issues and trends to inform decision-making.

• Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.

• Helps determine business priorities and best sequence for execution of business/group strategy.

• Conducts independent analysis and assessment to resolve strategic issues.

• Leads the development and maintenance of the internal controls governance system and framework.

• Ensures alignment between stakeholders.

• Represents the internal control governance program/structure during internal/external regulatory audits and/or examinations.

• Coordinates the management of databases; ensures alignment and integration of data in adherence with data governance standards.

• Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.

• Leads or participates in defining the communication plan designed to positively influence or change behavior; develops tailored messaging; and identifies appropriate distribution channels.

• Leads and integrates the monitoring, measurement & reporting on the status of the internal controls governance framework/program to internal & 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/participates in the design, implementation and management of core business/group processes.

• Develops governance and control-related solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.

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

• Performs testing on design of controls as required e.g. observation, inspection, replication, recalculation to ensure risks are identified and controls are effective.

• Reviews processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls.

• Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.

• Coordinates and participates in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures; management of review/updates to policies, etc.

• 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.

• Builds effective relationships with internal/external stakeholders.

• Ensures alignment between stakeholders.

• Analyzes data and information to provide insights and recommendations.

• Documents the internal control governance system, processes and framework to describe compliance requirements, activities, processes, roles & responsibilities.

• Develops tools, checklists and communications to address gaps, issues and new requirements.

• Monitors and tracks performance; addresses any issues.

• Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.

• Provides specialized consulting, analytical and technical support.

• Exercises judgment to identify, diagnose, and solve problems within given rules.

• Works independently and regularly handles non-routine situations.

• Broader work or accountabilities may be assigned as needed.

  Qualifications:

• Typically between 5 - 7 years of risk management or audit experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• Experience in risk management, audit, compliance, governance and/or project management is preferred.

• In-depth knowledge of banking and /or a regulatory environment.

• In-depth knowledge & experience with risk policy frameworks; quality control/testing frameworks. e.g. SOX 404, COBIT and COSO frameworks.

• Verbal & written communication skills - In-depth.

• Collaboration & team skills - In-depth.

• Analytical and problem solving skills - In-depth.

• Influence skills - In-depth.

• Data driven decision making - In-depth.

• Hybrid work model- 3 days in office required (Chicago location) subject to change

Salary:

$74,000.00 - $138,000.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit:

About Us

At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

As a member of the BMO team you are valued, respected and heard, and you have more ways to grow and make an impact. We strive to help you make an impact from day one – for yourself and our customers. We’ll support you with the tools and resources you need to reach new milestones, as you help our customers reach theirs. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.