Director, Risk System Management
Director, Market Risk Infrastructure is responsible for leading all aspects of the planning, development, implementation, monitoring of releases and change management for Market Risk Infrastructure for its critical systems. This Mandate includes establishing with Information Technology control activities to mitigate risk and support reporting initiatives while executing against in conjunction with key stakeholders and related support groups. The control activities extend to strategic planning, development of policies and procedures, controls, manage service levels and performance, and ensure continuous service and management of incidents for its critical systems across Market Risk. Infrastructure will continuously evolve for purpose of management, mitigation and regulatory compliance. This role involves complex information systems, processes, data collection and aggregation strategies for the IT Governance Framework aligning with enterprise level standards and policies and industry best practices. The Director, Market Risk Infrastructure plans and executes test activities for infrastructure project releases and management of the decommissioning of legacy platforms in Market Risk. The Director, Market Risk Infrastructure liaison with stakeholders such as Front Office, Market Risk Oversight, Market Risk Models, Model Validation, and Technology and Operations to advance necessary service levels to deliver business requirements and mitigate risk while aligning with enterprise risk, appetite and tolerance. Key Accountabilities
- Maintain the multi-year strategic roadmap for Market Risk Infrastructure to ensure the infrastructure surrounding the critical systems remains current, compliant with regulatory requirements and meet management expectations;
- Ensure overarching infrastructure framework is robust, scalable and flexible to support Model Development, Model Performance Monitoring, Scheduled Reporting and ad hoc analysis capabilities; and
- Establish processes and KPI's to mitigate operational risk and increase overall efficiency of underlying systems and infrastructure across the businesses to align with CORM/ER+PM to mitigate loss from inadequate or failed internal processes and/or systems.
- Establish and maintain a standard Release Management Process to ensure systems, infrastructure and reporting remain current, relevant and align with timeliness and needs of the stakeholders;
- Ensure that the primary focus of the current risk management / measurement infrastructure and methodologies align with priorities of the lines of business engaged in trading and underwriting activities and overall objectives of ERPM, and related industry best practices;
- Champion and lead change management activities, including testing to ensure change is appropriately understood and tested in line with corporate policies and standards as well as industry best practices for execution; and
- Manage communication with OSFI regarding MR/FO/GMO/Bank-wide initiatives impacting regulatory capital.
Partner Relationship Management
- Implement process improvement initiatives and change management through collaboration with stakeholders within the enterprise;
- Responsible for building and sustaining day-to-day relationships and communications with project sponsors, business partners at various levels of the enterprise relating to the system diagnostics and concurrent Project Plan deliverables;
- Responsible for the notification and quantification of system and operation impact to users downstream of Market Risk groups encompassing changes triggered by the event;
- Maintain an effective relationship with Model Validation to set expectations around vetting requirements for each project, and to create an effective channel for information flow through to the Model Validation group from Market Risk or project sponsors, in a timely manner to complete vetting within the given timeline; and
- Maintain strong relationship with NVaR and NG Teams and Director for all Releases impacting their functional request specifications and configurations which must be facilitated timely to comply with timeliness, accuracy and completeness for regulatory agencies.
- Influence adoption of UAT best practices to ensure proper testing by Market Risk is performed when new products or systems are introduced, and with specific quality in accordance with scope and business requirements with minimal defects post-implementation, to and including the following:
- MR/FO/GMO/Bank-wide initiatives;
- Lead for decommissioning of Market Risk Legacy Systems (NVaR, RAW, Issuer Risk, MASTERS) which are currently deemed as critical systems; and
- Lead launch of Change Management.
- Provide managerial leadership to employees including translating and creating shared understanding of goals, priorities and actions required, development of employees, and establishing a high performance culture and work environment including managing performance and talent in order to create and maintain a high performing team;
- Display and encourage appropriate high performance outputs to ensure behaviours in the group are congruent with the Bank's Being BMO Model and Market Risk;
- Continue to build a high performance work environment within Market Risk by establishing and maintaining effective managerial practices; and
- Establish and maintain a work environment that attracts, retains, and motivates the highest caliber of skilled risk professionals.
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- Graduate degree in Finance, Business or quantitative discipline accompanied and/or relevant professional designation (e.g. FRM, CA, MBA, CFA) for the relevant area
- Minimum of 10 years combined experience for financial institutions and/or third party service providers to Schedule 1 (Big 5 Banks) and/or Schedule 2 Banks in the areas of Information Technology, Risk Management, Project Management and Finance
- In-depth knowledge of the risk management techniques and concepts for the bank's risks such as credit, market and operational risk to complete tasks end-to-end
- Demonstrates ability to effectively lead cross-functional projects and operations with proven track record of driving results with competing priorities and short time frames
- Able to build effective relationships and influence key stakeholders, including conflict resolution
- Exhibits consistent flexibility, resilience and resourcefulness
- Detail oriented with ability to work in a dynamic environment and execute and deliver on time multiple concurrent projects on stringent deadlines
- Proven leadership and managerial skills
- Strong problem solving skills
- Excellent written and verbal communication skills to senior management
- Ability to work both independently and as part of cross-functional teams
At BMO we have a shared purpose; we put the customer at the centre of everything we do - helping people is in our DNA. For 200 years we have thought about the future-the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we're changing the way people think about a bank.
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://bmocareers.com .
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.