Payment Risk Oversight Manager

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Hybrid requirement: Minimum 3 days per week in office.

The Manager Operational Risk Payments is a second line of defense role responsible for providing independent oversight challenge and advisory support over payments-related operational risks. The role partners closely with first line payments businesses to assess monitor and mitigate risks associated with payment processing systems vendors and regulatory requirements ensuring alignment with the firms risk appetite and operational risk framework. Develops and monitors the operational management framework that includes the governance framework & practices leveraged across BMO to manage operational risks. Provides policies & standards methodologies and controls that increase transparency accuracy and consistency across groups.

• Fosters a culture aligned to BMO purpose values and strategy and role models BMO values and behaviours in all that they do.
• Provide independent second line oversight and effective challenge of payments-related operational risks controls and risk mitigation strategies.
• Review and challenge first line risk assessments (e.g. RCSAs) control testing results and issue remediation plans related to payment processes and platforms.
• Understand FMI requirements and oversight
• Monitor and analyze operational risk events and losses across enterprise payments functions and products identifying root causes trends and emerging risk themes.
• Assess risks associated with changes to payments products systems processes and third-party arrangements including participation in governance forums.
• Maintain Payment Risk Directive and advise the business on adherence to internal policies operational risk standards and applicable regulatory law rules and regulation expectations impacting payments (e.g. resiliency fraud sanctions changes and settlement risk).
• Oversee timely identification escalation and reporting of payments-related operational risk issues breaches and key risk indicators (KRIs).
• Prepare risk reporting and dashboards for internal and external stakeholders (e.g. senior management regulators and risk committees) clearly articulating risk exposures and control effectiveness.
• Contribute to the ongoing enhancement of the operational risk framework methodologies and tools as they relate to payments.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Improves team performance recognizes and rewards performance coaches employees supports their development and manages poor performance.
• Acts as a trusted advisor to assigned business/group.
• 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.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Conducts independent analysis and assessment to resolve strategic issues.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
• Works independently and regularly handles non-routine situations.

Key Stakeholders

• Payments Operations Finance/Treasury and Product Teams (First Line) - Across the Enterprise (i.e. Wealth P&BB CM & Commercial)
• Technology Information Security and Data Management
• Compliance AML Fraud and Financial Crimes
• Third-Party Risk Management
• Internal Audit and Enterprise Risk Management

Qualifications:

• Bachelors degree in Finance Business Risk Management or a related field (or equivalent experience).
• 7 years of experience in operational risk management payments operations or financial services risk oversight.
• Strong understanding of payments ecosystems (e.g. wires ACH RTP cards SWIFT) and associated operational and regulatory risks.
• Demonstrated experience working in a second line of defense or independent risk oversight role.
• Strong analytical communication and stakeholder management skills.
• Ability to provide constructive challenge while maintaining effective partnerships with the business.
• Strong Verbal & written communication skills

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 part-time roles will be pro-rated 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 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: 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 in-depth training and coaching to manager support and network-building 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 e-mail 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.