Senior Manager-Enterprise Third-Party Risk Management

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This opportunity will allow you to work on exciting projects within operational risk and have direct visibility to top leaders within our organization. If you have ThirdParty risk management experience especially experience implementing and overseeing FRB OCC and FDIC ThirdParty related regulatory requirements engaging with regulators or regulatory matters consider applying to this dynamic opportunity. This is a 2nd line of defence role for ThirdParty Risk Management (TPRM) within the Operational NonFinancial Risk (ONFR) practice at BMO. Working within a dynamic team and with engaged 1st and 2nd line subject matter experts (SMEs) you will be responsible for supporting and overseeing ThirdParty Risk Management practices at BMO acting as the central point of contact for 2nd line ThirdParty Risk Management in the US. Skills and experience in identification analysis monitoring and reporting of risks posed by ThirdParties are key to succeeding in this role and we look forward to hearing about your experience in this area.

Mandate:

As part of the 2nd line of defense this role supports the following primary accountabilities of the Enterprise ThirdParty Risk Management team:

• Provide strategic input into business decisions as a trusted advisor

• Make recommendations to senior leaders on strategy and new initiatives based on an indepth understanding of the business/group.

• Develop implement and maintain the ThirdParty Risk Management Directive Framework and other related requirements that are used across the enterprise to ensure ThirdParty Risks are appropriately identified assessed managed monitored and reported;

• Provide oversight and 2nd line effective challenge to ensure the ThirdParty Risks especially ThirdParty Cyber Security and Technology risks are being identified assesses managed and reported in accordance with applicable Regulatory and Governance requirements

• Act as subject matter expert on relevant ThirdParty regulations and policies

Responsibilities:

Provide thought leadership in development of sound ThirdParty Risk Management practices

• Promote and support BMOs risks culture and operational resilience ensuring employees understand their accountabilities for risktaking activities related to ThirdParty Risk promoting an environment of open communication and effective challenge

• Support development of ThirdParty Risk Appetite Statements and related metrics for the Enterprise ensuring compliance with Risk Appetite Framework;

• Support development and implementation of relevant policies standards directives frameworks and requirements relating to management of ThirdParty Risk

• Support oversight and effective challenge of ThirdParty risk assessment and management activities for High Risk engagement

• Research and provide thought leadership on current and emerging methodologies to quantify ThirdParty Risk (and other nonfinancial risks)

• Support 1st and 2nd Lines to appropriately identify assess measure and manage ThirdParty Risk across their portfolios

• Collaborate with all risk experts and stakeholders to ensure appropriate coverage and scrutiny of ThirdParty Risk (especially ThirdParty Cyber Security and Technology Risks) across all risk registers libraries forums and committees

• Support remediation of Audit and Regulatory issues and findings relating to the design of the ThirdParty Risk Management policies standards frameworks and requirements

Provide 2nd line oversight and effective challenge to ensure sound management of ThirdParty Risk

• Provide oversight to ensure that ThirdParty Risk across the Enterprise remains within the established risk appetite and that internal controls are appropriately designed and implemented and are operating effectively

• Support development enhancement and implementation of oversight methodologies that rely on data analysis data aggregation trend analysis to monitor the control environment related to Third Parties

• Support development and implementation of testing methodologies to maintain oversight over ThirdParty risktaking activities across all stages of the ThirdParty lifecycle

• Provide input and effective challenge to ensure projects initiatives and other change activities appropriately consider ThirdParty Risks

• Provide input and effective challenge over Key Risk Indicators used to monitor ThirdParty Risks

• Provide input and effective challenge to ensure that issues and operational risks events relating to ThirdParty Risks are appropriately remediated within set timelines

• Provide subject matter expertise and guidance on specific operational risk events recommending solutions for management of ThirdParty Risks that are commensurate with the materiality and complexity of the event

Provide effective 2nd line oversight and effective challenge to ensure sound Operational Risk Management within the Procurement

• Understand industry trends and regulatory requirements relating the Vendor Management and articulate 2nd Line of Defense positions on these (to share with Senior Leadership and 1st Line Risk Experts of these functions)

• Provide thought leadership and subject matter expertise on all Operational Risk Categories (AML Legal Compliance etc.) for Procurement

• Provide oversight and 2nd line effective challenge to ensure all operational risks within the Procurement functions are appropriately managed

• Ensure Operational Risks from risk taking activities within Procurement functions are identified assessed measured managed and reported within a consistent framework of robust internal controls

• Support development of and provide effective challenge over development of Process Risk and Control Libraries for Procurement

Provide subject matter expertise and unique insights

• Work with Cyber Risk Management Technology Risk Management and other subject matter experts to provide subject matter expertise on ThirdParty related elements relating to these risks

• Gather assemble and analyze internal and external data to drive unique insights to identify risks and recommend improvements TPRM management programs

• Develop and implement relevant parameters for reporting of the ThirdParty Risk profiles for individual operating groups and the Enterprise

Relationship Management and Internal Integration

• Develop and maintain effective relationships with 1st and 2nd line business partners involved in management and oversight of ThirdParty Risks

• Build collaborative relationships with Senior Operational Risk Officers and other risk management groups and subject matter experts across the organization

Promote effective working relationships with Regulators

• Anticipate and prepare for emerging regulatory developments and support maintenance effective relationships with regulators

• Promote communication of regulatory engagement standards and best practices

• Participate in industry groups to influence development of regulatory requirements

• Support efficient management of regulatory audit and exam activities related to ThirdParty Risk

Qualifications:

• Undergraduate university degree and Graduate degree or Professional Designation

• 710 years of relevant experience in financial services or supply chain management in other industries

• Indepth knowledge of ThirdParty Management lifecycle and related risk management standards methodologies and practices

• Experience with policy writing data analysis or risk reporting is an asset

• Experience with business intelligence tools e.g. Microsoft BI is an asset

• Experience in supporting relationship management with regulators is an asset

• Experience in oversight of Vendor Cyber and Technology Risk is an asset

• Sound knowledge of multijurisdictional regulatory environments and trends related to ThirdParty Risks

• Exposure to retail/wholesale banking is an asset

Skills:

• Leadership organization and planning ability

• Relationship management communication and presentation skills

• Strong ability to influence others

• Consistent ability to produce exceptional quality output and manage competing deadlines priorities accountabilities and constraints.

• Excellent execution skills and change management capabilities.

• Ability of identify and effect appropriate risk governance and control mechanisms

Salary:

Pay Type:

The above represents BMO Financial Groups 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 parttime roles will be prorated based on number of hours regularly worked. For commission roles the salary listed above represents BMO Financial Groups expected target for the first year in this position.

BMO Financial Groups total compensation package will vary based on the pay type of the position and may include performancebased 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: 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. Well support you with the tools and resources you need to reach new milestones as you help our customers reach theirs. From indepth training and coaching to manager support and networkbuilding opportunities well help you gain valuable experience and broaden your skillset.

To find out more visit us at 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 email to 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.