Head, Insurance Governance

BMO; Toronto; On-site; CAD 113,000 - 212,000; Full time

Job summary

An established industry player is seeking a Head of Insurance Governance to lead compliance and risk management initiatives. This pivotal role involves developing and maintaining robust risk management programs while ensuring adherence to regulatory standards. The ideal candidate will possess extensive experience in regulatory compliance, exceptional communication skills, and a proven track record in fostering a strong risk management culture. Join a forward-thinking organization that values innovation and collaboration, offering comprehensive benefits and opportunities for professional growth.

Benefits

Comprehensive Benefits

Performance Incentives

Development Opportunities

Qualifications

• 10+ years of experience in regulatory compliance and risk management.
• Strong knowledge of consumer protection regulations and operational risk.

Responsibilities

• Coordinate first line of defense activities and risk management programs.
• Provide risk management guidance for business initiatives and compliance.

Skills

Regulatory Compliance

Risk Management

Project Management

Communication Skills

Critical Thinking

Relationship Management

Data-Driven Decision Making

Education

Degree in a related field

Compliance Certification

Job description

Join to apply for the Head, Insurance Governance role at BMO.

Responsible for the effective implementation, maintenance, and administration of compliance, operational risk, AML, privacy, and escalated complaint handling programs supporting the insurance business. Ensures internal control systems identify and mitigate emerging risks, safeguard assets, and comply with bank policies, regulatory requirements, and voluntary codes of conduct. Develops a culture of compliance and advises leadership on risk management and regulatory implications. Identifies risks and leads mitigation actions, maintaining current knowledge of regulatory developments and enterprise obligations. Contributes to business results by overseeing risk programs and ensuring regulatory and internal compliance.

Key Responsibilities:

1. Coordinate the business unit’s first line of defense activities by developing and maintaining risk management programs within the approved risk appetite.
2. Support evaluation and development of internal controls, process improvements, and governance reporting.
3. Lead issue resolution and provide subject matter expertise for event management recovery initiatives.
4. Understand business strategies, products, services, and processes to identify risks and manage implications.
5. Provide risk management guidance for business initiatives, including controls, metrics, and testing.
6. Stay informed on best practices, emerging risks, and regulatory changes, driving continuous improvement.
7. Build relationships with second-line defense and external stakeholders, including regulators and industry groups.
8. Foster a strong risk management culture through collaboration across functions.
9. Attract, develop, and retain top talent, setting clear goals and recognizing performance.
10. Represent BMO Insurance on industry committees and operate effectively under regulatory scrutiny.

Qualifications:

• Typically 10+ years of relevant experience with a related degree or equivalent experience.
• Preferred recognized compliance certification.
• Advanced knowledge of consumer protection regulations, marketing, and advertising guidelines.
• Expertise in regulatory compliance and operations across multiple business groups.
• Exceptional communication, critical thinking, relationship management, and project management skills.
• Industry experience, preferably within insurance.
• Proven leadership in innovation and technical expertise.
• Strong collaboration skills and ability to manage ambiguity.
• Data-driven decision-making skills.

Salary range: $113,900 - $211,800. BMO offers comprehensive benefits, performance incentives, and development opportunities. For more information, visit BMO Careers.