Senior Operational Risk Testing Officer

About the role

This position supports our DeNovo branch expansion, where you'll have the opportunity to help launch new locations, shape team culture, and drive client growth from day one. We're looking for individuals who bring creativity, a passion for business development, and an entrepreneurial mindset with a focus on building strong community and networking relationships.

The Centralized Testing Team is a 2nd Line of Defense role responsible for the development, management, and execution of formal testing, monitoring, quality assurance, and review of the 1st and 2nd Line activities to assess the effectiveness of the control environment and program adherence to the bank's governance frameworks. This position will develop testing plans, test scripts, execute testing at both the transversal bank level and within specific business units, report on test results, recommend actions on any gaps identified and work with the Bank Groups to ensure remediation of those gaps.

Key Responsibilities

• Design and develop testing strategies and methodologies to assess the effectiveness of the Bank's control environment
• Execute independent testing across the organization from both a Transversal and Business Unit perspective
• Determine testing samples by performing in-depth risk-based analysis of the Domains
• Identify issues and develop recommendations to address any gaps during the test execution
• Work with issue owners to develop Management Action Plans and work with the identified owners to remediate such gaps through closure
• Ensure implementation of consistent control frameworks across the enterprise
• Assess complex monitoring activities associated with the control frameworks
• Ensure activities are performed accurately, thoroughly, and in accordance with dynamic regulatory, operational risk requirements, and/or industry best practices, and activities meet timeframe standards
• Act as a Subject Matter Expert around the Bank's Control Frameworks
• Build effective professional relationships with business group, internal/external stakeholders and trust with regulators
• Works independently and regularly handles non-routine situations

Additional Responsibilities

• Provides advice and guidance to assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs
• Identifies and advises on emerging issues and trends to inform decision-making
• Analyses and reports on compliance data, and related data to gain insights on regulatory risk
• Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls
• Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements
• Supports root cause analysis in response to material control failures in business/group
• Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation
• Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution
• Analyzes and reports compliance information to Compliance and business/group management
• Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported
• Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations
• Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements
• Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk
• Provides specialized consulting, analytical and technical support
• Exercises judgment to identify, diagnose, and solve problems within given rules
• Broader work or accountabilities may be assigned as needed

Qualifications

• Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience; Masters preferred
• In-depth knowledge and experience in Operational Risk Management in a Financial Institution
• Industry Certification preferred
• Ability to run data analytics in Excel and extrapolate meaningful analysis
• Strong independent testing skills
• Strong relationship building skills to work with key stakeholders at all levels of the organization
• In-depth knowledge of the organization's control frameworks
• Knowledge of testing methodologies
• Ability to work independently under tight time constraints with minimal need for oversight and peer review to ensure adherence to the control framework
• Ability to simultaneously manage multiple high priority projects
• Must be able to quickly grasp complex strategies
• Mastery of the Microsoft Suite of products including Power Point, Word, and Excel
• Strong communication, critical thinking, relationship management and project management 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
• Guides, directs, and coaches employees to deliver exceptional service to BMO customers and prospects
• Understands the needs of BMO customers or prospects to provide sales and service in the best interests of the customer
• Advises customers on products and strategies that meet their financial objectives
• Identifies and makes referrals to other business groups
• Supports sales and customer service activities to meet strategic customer experience and profitability goals in compliance with legal and regulatory requirements and the Bank's policies and processes
• This position will act as an originator of consumer loans as defined by Regulation Z, Regulation G, and the Secure and Fair Enforcement for Mortgage Licensing Act (the S.A.F.E. Act). This position will require a Federal registration with the Nationwide Mortgage Licensing System and Registry. The Bank will instruct you on the registration requirements needed to comply with this requirement. A criminal background review and credit history evaluation will be required for this position as well as restrictions on performing in a real estate agent capacity
• 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
• Creates innovative business development strategies, including collaborating with BMO partners to grow the business and maximize branch revenues, sales, and customer satisfaction, and minimize operating losses
• Develops and executes a branch business plan to maximize business growth and wallet share and achieve customer retention and acquisition objectives
• Probes to understand customer personal banking and credit card needs and integrates marketing promotions and programs into customer conversations to provide strategic advice in the best interests of the customer
• Conducts cold calls to prospective customers to develop new customer relationships
• Develops and maintains a network in the community to enhance the Bank's visibility and builds a strong referral source for new potential business
• Supports the Bank's community involvement and participates in community activities
• Maintains a high-touch relationship with key branch customers and prospects within the market
• Resolves customer related issues using knowledge of bank services, products, and processes
• Fulfills sales and service activities for the customer in accordance with approved procedures
• Recommends and implements solutions based on analysis of issues and implications for the business
• Assists in the development of strategic plans
• Builds the business plan for the branch
• Influences and negotiates to achieve business objectives
• Identifies emerging issues and trends to inform decision-making
• Implements, reviews, and revises work plans
• Helps determine business priorities and best sequence for execution of business/group strategy
• Conducts independent analysis and assessment to resolve strategic issues
• Works with internal stakeholders and colleagues to leverage sales, fulfillment, and referral opportunities to improve share of wallet, acquire new customers, and provide full financial services to customers
• Ensures alignment between stakeholders
• Monitors sales and service performance against plan to identify gaps, issues, and best practices, and develop and implement action plans that close performance gaps and resolve issues
• Breaks down strategic problems, and analyses data and information to provide insights and recommendations
• Communicates goals, plans, and assignments to achieve financial and customer service goals
• Leads the implementation of new programs, products and processes within the branch
• Coordinates the implementation of national and regional sales and service initiatives
• Monitors the service request and problem resolution processes for adherence to national standards
• Provides technical training and support to branch employees to maintain operational and sales effectiveness and recommends improvements
• Plans and controls unit operating expenses in accordance with forecasts
• Manages transactional outcomes for customer calls or defers to appropriate internal business groups
• Resolves complex or unresolved customer situations or escalates to the next higher manager for resolution
• Maintains current knowledge of personal banking and credit card industries, practices, and trends and integrates into customer conversations
• Builds effective relationships with internal/external stakeholders
• Maintains the confidentiality of customer and Bank information
• Identifies and reports suspicious patterns of activity that are suspected to be related to money laundering
• Complies with all legal and regulatory requirements for the jurisdiction
• 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
• Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations
• Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience
• Previous supervisory or management experience
• In-depth knowledge of retail banking products and services
• In-depth knowledge of competitive marketplace and trends in product offerings
• In-depth knowledge of all branch operational processes and policies
• In-depth knowledge of branch technologies, processes, and performance metrics
• In-depth knowledge of applicable regulations, audit standards, and related policies, procedures, and directives
• Deep knowledge an

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