Manager, Monitoring (Enterprise AML)

Application Deadline:

10/04/2024

Address:
100 King Street West

Job Family Group:

Audit, Risk & Compliance

This individual contributor position is in downtown Toronto and offers a hybrid work arrangement with at least 2 days per week on-site and other days remote.

If you’re looking for your next dream job, consider this one in BMO’s ERPM Risk group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture. #ERPMDreamJobs

The role reports to the Senior Manager overseeing the 2nd line AML Monitoring & Testing team, primary responsibilities under the position include leading testing of key internal AML/ATF and related controls across the enterprise. The Manager will lead and execute testing engagements and provide insights and recommendations on testing results, findings, identified issues, re-performance testing, and continuous improvement insights of various complexity, ensuring adherences to the team’s established service levels, standards, and practices.

Develops and maintains an effective internal control framework that defines the ways and methods governance is implemented, managed, and monitored in the designated business/group portfolio. The governance framework includes policies, guidelines and provides programs, practices and measures to promote transparency, accuracy, consistency across groups. Applies specialized knowledge of risk management, regulatory compliance and internal controls related to business processes and information.

Responsibilities will include, but are not limited to:

Quality Assurance, Testing & Validation Responsibilities:

• Performs testing on design of controls as required e.g. observation, inspection, replication, recalculation to ensure risks are identified and controls are effective. Specifically, leading the execution of end-to-end AML/ATF testing assignments ensuring consistent, high-quality testing practices/work is delivered within expected timelines and aligned to the team’s standard methodology and testing processes.
• Reviews processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls, based on an understanding of regulatory requirements, enterprise-wide expectations. Specifically, designing and executing testing fieldwork that is complex in nature and requiring an AML/ATF subject matter expertise, including (but not exclusive to) review of business artifacts, and customer and transaction data.
• Documents the internal control governance system, processes and framework to describe compliance requirements, activities, processes, roles & responsibilities. Specifically, creating and maintaining detailed testing support documentation such as workpapers, testing reports, etc. to support the results of reviews of AML/ATF controls and processes, including the write-up of findings/issues for reporting.
• Analyzes data and information to provide insights and recommendations.
• Provides advice and guidance to assigned business/group on the implementation of the control framework, including effective challenge.
• Analyzing root causes of any findings/issues discovered to provide for effective communication to appropriate parties, by applying critical thinking and assessing materiality. Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
• Guides/assists in the identification and classification of issues; recommends action plans.

Communication & Reporting Responsibilities:

• Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels. Specifically, providing insights and recommendations, including through formal verbal and written mediums. Drafting reports that are concise and clear, articulating the issues such that they are well understood, unambiguous and actionable.
• Consults with stakeholders to improve consistency and transparency of control measurement/metrics and reporting.
• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.
• Acts as a trusted advisor to assigned business/group.
• Builds effective relationships with internal/external stakeholders.
• Ensures alignment between stakeholders.
• Influences and negotiates to achieve business objectives.

Other Responsibilities:

• Leads the development and maintenance of the internal controls governance system and framework, including providing ongoing support for continuous improvement of the Monitoring & Testing team processes, including contributing to the development of new operational testing capabilities to ensure ongoing efficient & effective delivery.
• Provides input into the planning and implementation of ongoing operational programs in support of the model validation/risk framework, including (but not exclusive to) supporting the development and execution of the team’s Annual Testing Plan and strategic plans.
• Assists in the development of strategic plans.
• Identifies emerging issues and trends to inform decision-making.
• Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
• Conducts independent analysis and assessment to resolve strategic issues.
• Represents the internal control governance program/structure during internal/external regulatory audits and/or examinations.
• May provide specialized support for other internal and external regulatory requirements.
• Develops tools, checklists and communications to address gaps, issues and new requirements.
• Monitors and tracks performance; addresses any issues.
• 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 between 4 – 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Experience in risk management, audit, quality assurance / control testing and/or past experience working in a public accounting firm is preferred.
• In-depth knowledge of knowledge/experience in AML/ATF legislative and regulatory requirements.
• In-depth knowledge & experience with risk policy frameworks; quality control/testing frameworks. e.g. SOX 404, COBIT and COSO frameworks.
• Ability to effectively work with and influence stakeholders at different levels across BMO, including comfort engaging senior leaders.
• Ability to make decisions independently, work under well under established deadlines and regularly manage non-routine situations.
• Enjoys working in a collaborative team environment.
• Verbal & written communication skills – In-depth.
• Collaboration & team skills – In-depth.
• Analytical and problem-solving skills – In-depth.
• Data driven decision making – In-depth.

Salary :

$60,000.00 – $111,700.00

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

We’re here to help

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.

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.