VP, Operational Risk & Resilience, Global Markets

BMO Capital Markets; New York (NY); On-site; USD 120,000 - 160,000; Full time

Job summary

An established industry player is seeking a VP of Operational Risk & Resilience to lead risk management initiatives within Global Markets. This pivotal role involves collaborating with senior executives to address complex non-financial risks, ensuring operational resilience, and enhancing risk governance. The ideal candidate will possess strong organizational and communication skills, a solid background in financial services, and a proactive approach to problem-solving. Join a dynamic team dedicated to excellence and innovation in risk management, and make a significant impact in a fast-paced environment.

Benefits

Health Insurance

Tuition Reimbursement

Accident and Life Insurance

Retirement Savings Plans

Qualifications

• 7+ years of experience in Banking or Financial Institutions with Business Risk exposure.
• Demonstrated understanding of Operational Risk and Business Continuity Management.

Responsibilities

• Lead the Operational Risk framework for GM to mitigate risks.
• Support the Business Continuity program to maintain documentation.

Skills

Organizational Skills

Stakeholder Management

Communication Skills

Problem Solving

Decision Making

Education

Undergraduate Degree in Business Administration

Graduate Degree in Related Discipline

Tools

Microsoft Office Suite

Power BI

Job description

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BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

The VP, Operational Risk & Resilience, Global Markets (GM) is part of the GM Operational Risk and Resilience (GM ORR) team within the Capital Markets Operational Risk and Resilience (CM ORR) group. As part of the Capital Markets Office of the Chief Operating Officer (CM OCOO), the CM ORR unit operates at a quick pace with exceptional quality and high expectations as such the role requires the same pace coupled with high quality execution of deliverables.

The VP is expected to provide expertise, support, and resource to drive Non-Financial Risk management and mitigation for GM, with a focus on Operational Risk and BCM Risk. The role requires the VP to interact directly with GM stakeholders, including senior executives, to methodically resolve non-financial risk management challenges across a continuum that ranges from simple day-to-day risks to highly complex business or regulatory issues. This is a people manager role with one direct report (Associate). The candidate will report into the Director, Operational Risk & Resilience, Capital Markets to drive the GM Operational Risk & Resilience mandate.

Key Roles & Responsibilities

Operational Risk (90%) - Lead the Operational Risk framework and program requirements for GM to mitigate risk of loss resulting from inadequate internal process, people, and system controls.

• Process Risk & Control Library: Lead the trigger update of GM PRC Libraries to ensure accuracy and completeness.
• Operational Risk Assessment: Perform the annual Product/Service, Process Risk Assessment (PSPRA) for GM business units.
• Key Risk Indicators (KRI): Champion the development or expansion of business KRIs inventory by working with stakeholder in various risk areas to enhance risk governance.
• Targeted Process and Control Review (TPCR): Drive process improvement to prevent Operational Risk Event (ORE) and Loss by identifying vulnerabilities, enhancing key controls, and creating efficiency opportunities via TPCR.
• Operational Risk Event (ORE) & Issue Management: Log any GM ORE/Issue in GRCE in a timely and effective manner
• Projects and initiatives: Execute on any short/long-term Operational Risk projects and initiatives (i.e., Regulatory/Audit Remediation) that that impacts GM, as required.
  
  
  

Business Continuity Management (10%) – Support the Business Continuity program for GM to maintain business continuity documentation and facilitate business continuity testing.

• Business Continuity Documentation: Oversee the Business Impact Assessment (BIA), Business Continuity Plan (BCP), and Risk Assessment (RA), documentation updates across all GM business units.
• Quality Assurance: Partner effectively with enterprise Resilience and Integration (R&I) to aid in Quality Assurance (QA) Review process completion.
• Business Continuity Testing: Facilitate Disaster Recovery (D/R), third party/vendor/industry testing, Alternate Work Area, and BCP Walkthrough.
• Projects and initiatives: Execute on any short/long-term BCM projects and initiatives (i.e., Regulatory/Audit Remediation) that impacts GM, as required.
  
  
  

The ideal candidate will have the following attributes:

Skills:

• Excellent organizational skills with ability to create/execute a detailed plan for short- and long-term work.
• Build positive stakeholder relationships within Capital Markets and across Corporate Support Areas to garner support, advice and partnership that enables execution of the role.
• Communicate effectively (verbal and written) at all levels of the organization, including the most senior executives, including drafting communications and running calls and meeting. Ability to represent Capital Markets at senior industry discussions, with regulators and internal & external auditors.
• Proactive in work and responsibility. Ongoing self-study about Capital Markets, emerging regulatory and industry issues, BMO business priorities, and best practices. Ability to adapt and quickly develop in-depth understanding of new/different initiatives, requirements, or roles.
  
  
  

Personal Attributes:

• Confident, team player.
• Problem solver, decision maker, proposes solutions.
• Motivated, self-directed.
• Strong verbal, written and interpersonal communication.
• Calm under pressure, ability to execute while manage competing priorities.
• Humble, ability to laugh at self.
• Anticipate needs and requests.
  
  
  

Education/Experience:

• Undergraduate degree in Business Administration, Risk Management, Economics, Finance and/or relevant background.
• Graduate degree or professional designations in related discipline would be an asset.
• 7+ years of Banking/Financial Institution/ Management Consulting experience with relevant Business Risk exposure, including, but not limited, to Operational Risk, Credit Risk, Business Continuity, Regulatory Compliance, Cyber Security, Third Party Risk, Technology Resiliency, Legal, AML, etc.
• Demonstrated advance technical understanding of Fixed income (e.g. Mortgage Backed Securities, Repos, Bonds and Futures) products, services, and systems.
• Knowledge of the various risks and controls associated with Global Markets business activities.
• Good understanding of the regulatory landscape and industry practices with respect to Operational Risk, Business Continuity Management, and Operational Resilience
• Experienced in and effective at responding to and dealing with significant problems and crises.
• Advanced Office Suite proficiency, such as, Excel, PowerPoint, Word, Power BI and Visio, etc.
  
  
  

“The salary range for this role is $120,000 up to $160,000 (subject to negotiation and subject to the candidate meeting the specific skills, experience, education, and qualification requirements).”

Salary:

$79,800.00 - $148,000.00

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/us/en

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 [e-mail] 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.

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Finance and Sales

• Industries

  Banking

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