Third Party Risk Manager

BMO; Toronto; On-site; CAD 70,000 - 150,000; Full time

Benefits offered by this job

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plans

Job summary

BMO Financial Group is seeking an experienced risk professional in Toronto to lead global third-party risk programs and ensure regulatory alignment. You will educate teams on risk tools, update documentation, and drive risk awareness across the organization.

Key duties include supporting audits, handling 2LOD inquiries, and collaborating with various risk and audit functions to identify, assess, and mitigate risks across products and processes.

Qualifications

• Between 5 to 7 years of relevant experience in risk management or a related field.
• Deep knowledge of third-party risk management practices and methodologies.
• Experience with segmenting, analyzing, and reporting risk data.
• Strong analytical skills to identify trends and make recommendations.
• Experience preparing materials for senior forums or committees.
• Familiarity with financial products and services.
• Excellent verbal and written communication.
• Ability to build stakeholder relationships.
• Advanced proficiency with PowerBI, PowerPoint, Excel, and SharePoint.
• Ability to multitask and work independently.

Responsibilities

• Oversee global third-party risk management processes and lifecycle.
• Train and educate the team on tool changes and regulatory updates.
• Develop and maintain documentation for risk management activities.
• Assist with audits and exam preparation.
• Investigate 2nd line of defense inquiries and escalation.
• Manage large, complex risk programs to ensure regulatory adherence.
• Support strategic initiatives with internal stakeholders.
• Promote risk awareness and provide tools and presentations to teams.
• Collaborate with 1LOD, 2LOD, and 3LOD to monitor and report risk.

Skills

Analytical thinking

Stakeholder management

Communication skills

Problem solving

Education

Post-secondary degree in related field

Tools

PowerBI

PowerPoint

Excel

SharePoint

Job description

Job Description

In-depth knowledge of Global Third-Party Risk Management processes, lifecycle, and third-party risk to support effective and proactive compliance with regulatory obligations in alignment with the Bank’s Risk Management Framework and approved Risk Appetite.

• Management of risk stakeholder program execution and interaction with Third Party Risk Specialists/Supplier Managers to manage and pursue completion of past due programs with escalation, as applicable.
• Responsible for providing training and education to the Global Third-Party Risk Management team consisting of changes in the risk tool, team procedures, and regulatory changes, as applicable.
• Develop and maintain documentation for the Global Third-Party Risk Management Team including but not limited to operating environment changes or regulations including obtaining approvals
• Assist with audit and exam preparation and follow-up
• Investigation of second line of defense effective challenge inquiries
• Manages/supports large/complex risk programs/frameworks /projects/initiatives to ensure risks are appropriately mitigated and regulations adhered to
• Supports the execution of strategic initiatives in collaboration with internal stakeholders.
• Build awareness, knowledge, and skills and, as necessary, provides communication, practical tools and ongoing support including creating presentations, to promote a culture of risk identification and management
• Contributes to a strong risk culture through collaboration with 1LOD, and engagement with Second Line of Defense (2LOD), Corporate Audit (3LOD), to ensure risks related to products, services, and processes are identified, assessed, measured and managed within the approved risk appetite, and reported on an ongoing basis.

Qualifications

• Between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• In-depth knowledge of Third-Party Risk Management practices and methodologies
• Experience with segmenting, analyzing, and reporting risk related data.
• Strong analytical skills to gather relevant information, compare and identify trends, develop conclusions with well-supported recommendations.
• Experience with compiling and validating materials for updates at senior level forums and/or committees
• Familiar with financial products and services
• Strong communication skills, both verbal and written.
• Ability to build and foster stakeholder relationships.
• Excellent analytical and problem-solving skills, with an eye for detail.
• Strong proficiency with PowerBI, PowerPoint, Excel, and SharePoint.
• Ability to multitask and work independently

Salary

$70,000.00 - $150,000.00

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: https://jobs.bmo.com/global/en/Total-Rewards

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 https://jobs.bmo.com/ca/en

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.