Manager, Fraud Risk Oversight

About the role

Provides oversight, monitoring, and reporting on operational risks for a designated portfolio. Develops and monitors the operational management framework that includes the governance framework and practices leveraged across BMO to manage operational risks. Provides policies, standards, methodologies, and controls that increase transparency, accuracy, and consistency across groups.

Works with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting, and identification of action plans. Acts as a trusted advisor to the assigned business or group.

Responsibilities

• Guides and assists in the identification and classification of issues; recommends action plans.
• Influences and negotiates to achieve business objectives.
• 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 and related best practices to assist and develop recommendations for changes or enhancements.
• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• Helps determine business priorities and the best sequence for execution of business or group strategy.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the governance system and framework.
• Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
• Represents the model validation program or portfolio for internal or external regulatory audits and examinations.
• Ensures alignment between stakeholders.
• 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, and reporting on the status of the operational 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 operational risk framework.
• Leads or participates in the design, implementation, and management of core business or group processes.
• Administers and maintains operational risk program activities in adherence to all policies, procedures, and established processes.
• Identifies potential risk situations or impacts and makes recommendations or escalates to the manager, as per guidelines.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative or regulatory directives and guidance.
• Builds effective relationships with internal and external stakeholders, e.g., business stakeholders and Corporate Support Areas (CSAs) in providing ‘second line of defense’ operational risk management support.
• Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives.
• Monitors and tracks performance; addresses any issues.
• Coordinates and monitors the review and sign-off of attestations and reporting.
• Maintains tools and templates for operational risk programs (e.g., Risk Control Self Assessment (RCSA), Sarbanes-Oxley (SOX), or regulatory compliance), as required.
• Focus is primarily on business or 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.

Requirements

• Typically between 5 - 7 years of relevant experience and post-secondary degree in a related field of study or an equivalent combination of education and experience.
• In-depth knowledge of operational risk management practices.
• In-depth knowledge of the designated business or product portfolio.
• In-depth knowledge of regulatory requirements.
• In-depth knowledge of quantitative techniques and economic capital methodologies.
• In-depth knowledge and experience with risk policy frameworks; quality control and testing frameworks.
• Deep knowledge and technical proficiency gained through extensive education and business experience.

Skills

• Verbal and written communication skills - In-depth.
• Collaboration and team skills - In-depth.
• Analytical and problem-solving skills - In-depth.
• Influence skills - In-depth.
• Data-driven decision-making - In-depth.

Pay

Salary: $74,000.00 - $138,000.00 (salaried). 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 the 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 may include performance-based incentives, discretionary bonuses, as well as other perks and rewards.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans

For more details, visit BMO Total Rewards.