Associate Director, Capital Markets Pillar,Governance & Oversight
BMO
Toronto, Ontario, Canada
6d ago

The Governance & Oversight Associate Director- Capital Markets Pillar, role, is part of the first line of defense (1b) within Independent Controls that primarily provides support to Capital Markets Product Operations.

The Associate Director is responsible for the joint development, implementation and maintenance of financial and operational risk management practices across the organization.

The role provides independent and objective risk and control perspectives, effective probing and challenge and is seen as a credible expert on governance and oversight subjects, with a balanced view of effectiveness and efficiency to drive optimal solutions.

The incumbent acts as a primary contact to senior management and Executives in promoting and reinforcing the discipline of effective governance and oversight across operating units.

This role will meet strategic, operational and financial objectives within a twelve- to twenty-four-month time horizon.

Responsibilities include the following :

  • In alignment with Enterprise requirements, develop, administer and govern annual operational programs for sensitive positions, operational authorities, business managed applications and / or any other topic, as required.
  • Monitor, track and report on operational and financial risk issues through to resolution.
  • As an independent governance function within the First Line of Defence, provide effective challenge in the application of Product Operations governance programs, issues and event management.
  • Facilitate and lead weekly / bi-weekly management oversight meetings consisting of 10-25 participants, focused on key operational risk metrics, issues management and governance program compliance.
  • Provide weekly, monthly, quarterly and ad hoc operational risk reporting including key metrics reports, operational losses and trending and analysis.
  • Facilitate the quarterly PO financial attestation process for Canada and US, liaising with Capital Markets Chief Accountants Group and / or Line of Business Finance groups.
  • Contribute to the development of new governance tools & processes across Global Product Operations.
  • Lead the implementation of new / changed PO governance tools & processes within Capital Markets Product Operations.
  • Identify and lead deep dive assessments of operational areas of concern or risk to provide an independent evaluation of root cause and resolution opportunities.
  • Management of day-to-day team accountabilities.
  • Coach, mentor and manage 2 staff.
  • Key Areas of Accountability

    Process

  • Understand business unit / PO / enterprise-wide strategies to ensure appropriate alignment in the development and execution of operational risk programs and tools.
  • Partner with internal business partners to meet service delivery expectations at the operational level.
  • Provide governance, risk and control advice and partner with other department colleagues to counsel internal business partners, PO colleagues and 2nd / 3rd line partners.
  • Manage quality and continuous improvement of existing processes.
  • Operational Risk & Control

  • Assess business issues for risk & impact ensuring appropriate actions are taken and make recommendations to senior management and / or executive leaders based on materiality of impact.
  • Ensure the identification of business unit control risks and gaps, ensure appropriate action plans are in place to address the risk and escalate to appropriate parties.
  • Assess production / processing situations to mitigate risks and exposures for the purpose of providing corrections and solutions on deficiencies in process and control.
  • Assess financial exceptions identified through BFC / BFG quarterly attestation to understand impact and required remediation for communicate to leadership and Finance partners.
  • Define and develop standards and targets related to governance and oversight, risk metrics, operational risk / controls and / or financial risk / controls frameworks, applying them to the activities of the teams within the business unit.
  • Manage and refine risk approaches within the function / process or related functions / processes by ensuring required policies, processes and controls are implemented and adhered to.
  • Apply risk mitigation and management methods.

  • Verify adherence to enterprise, Governance & Oversight program and business unit policies and procedures (P&Ps) by all team members.
  • Provide guidance to business unit partners on these subjects as well.

  • Ensure departments procedures / standards are documented, reviewed regularly and updated as needed.
  • Change Management

  • Take a lead role in projects as a key resource, in support of critical governance PO / LOB / enterprise-wide initiatives.
  • Develop and implement change management plans to execute continuous improvement and other initiatives in support of the PO business strategy.
  • Model and lead change; effectively prepare team and business unit partners for change.
  • Foster an environment of continuous improvement, and encourage the team to identify process improvements / new ideas and adopt best practices.
  • Monitor and manage evolving business requirements and escalate issues as appropriate.
  • Business Performance Management

  • Build, develop and maintain effective relationships with key internal 1st and 2nd line of defence partners.
  • Provide consultative support to internal business partners, directly or indirectly, utilizing strong operational knowledge.
  • Execute business unit tactical business plans and ensure change to meet the business’s current year challenges.
  • Align individual and team performance goals to department and organizational goals
  • Managerial Leadership

  • Provide leadership and direction to team of 2 employees by defining accountabilities, tasks and assignments, and establishing boundaries for decision-making and approvals.
  • Establish and maintain managerial practices (e.g., creating a collaborative environment) that build a high performance work environment within and across teams.
  • Recommend or approve job and pay grades for staff within authorized limits.
  • Verify that all managerial administration is executed fairly, professionally and in a timely manner.
  • Ensure measurable, quantitative team training and development strategies that accelerate the performance of the team and individual are in place.
  • Build, develop and maintain effective relationships with internal business partners / external customers / stakeholders for the purposes of enhancing team effectiveness.
  • Knowledge :

  • University degree / college diploma or equivalent work experience. An accounting designation is an asset
  • 10+ years of related work experience. 5-7 years management experience
  • Advanced knowledge of risk metrics analysis and reporting, operational and financial risk and controls and governance and oversight frameworks
  • Advanced knowledge of operations, products and process of Retail Personal, Commercial or Business banking.
  • Strong knowledge of process management
  • Accounting knowledge is an asset.
  • Knowledge of BMO Policies / standards and best practices is an asset
  • Skills :

  • Demonstrated ability to work in an evolving environment to transform the group to high performance operational governance state
  • Expert written and oral communication skills
  • Advanced facilitation / presentation skills
  • Advanced operational risk management skills
  • Advanced change management skills
  • Advanced decision-making skills
  • Advanced analytical skills
  • Advanced prioritization skills
  • Advanced relationship management skills
  • Advanced managerial leadership skills
  • Advanced conflict management / resolution skills
  • Solid negotiation and influencing skills
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