Advisor, Regulatory Capital Governance - Toronto, Canada - BMO

Description

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BMO is on the lookout for an Advisor, Regulatory Capital Governance to join our Capital Risk Management team. This role offers the unique opportunity to play a pivotal role in reinforcing the bank's compliance and strategic decision-making regarding capital adequacy requirements. This position reports directly to Senior Manager, Regulatory Capital Oversight, in the Capital Risk Management vertical under the broader umbrella of Enterprise Risk.

What You'll Do:

As an Advisor, Regulatory Capital Governance, your responsibilities will include:

• Governance and Oversight: Implementing and executing a robust governance processes and controls to assist in managing the bank's regulatory capital, ensuring adherence to regulations on capital adequacy prescribed by financial regulators, with a particular focus on credit risk.
• Stakeholder Engagement: Coordinating with an array of stakeholders across the bank, including but not limited to credit risk teams, corporate and retail segments, model development, and risk reporting teams. Your role will involve engaging with senior stakeholders, including directors and vice presidents, to collate and understand various compliance processes.
• Issue Management and Monitoring: Leading quarterly issue monitoring and management, ensuring issues are appropriately reported, tracked, and remediated.
• Annual CAR Self-Assessment Process: Facilitating the annual regulatory self-assessment process, reaching out to various stakeholders to confirm their compliance with regulatory requirements through policies and procedures.
• Contributing to the development and implementation of governance frameworks within the regulatory capital oversight function, ensuring robust processes and controls are in place.

Who You Are:

• Educated and Experienced: You posses relevant education in a relevant field, supplemented by years of experience in regulatory compliance, ideally within a banking or consulting environment focused on capital adequacy requirements and banking regulation. Certifications in financial risk management, professional risk management, or CFA are considered an asset.
• Regulatory Savvy: You have a deep understanding of regulatory requirements, especially around capital adequacy, and can assess and interpret these regulations to ensure operational adaptation and compliance across the organization.
• Skilled Communicator: Exceptional communication skills are second nature to you, allowing you to navigate and manage relationships with senior stakeholders effectively. Your role will require diplomacy, assertiveness, and the ability to present complex information clearly.
• Technically Proficient: You are adept with tools like Excel and SharePoint, capable of managing, analyzing, and presenting data effectively to support decision-making processes.

This position is located in Toronto and offers a hybrid work arrangement with at least 2 days per week (flexible with Wednesdays and Thursdays) designated for in-office collaboration, while other days remote.

If you're looking for your next dream job, consider this one in BMO's Enterprise 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

As Advisor, you will assist in developing and maintaining an effective internal control framework that defines the ways and methods governance is implemented, managed, and monitored for the purpose of meeting capital adequacy requirements. The framework includes guidelines and provide programs, practices and measures to promote transparency, accuracy, consistency across groups. You would apply specialized knowledge of risk management, capital adequacy requirements for credit risk and internal controls related to business processes and information.

Core Accountabilities

• Develop governance and control-related solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
• Provides advice and guidance on the implementation of the control framework for capital adequacy requirement related self-assessments, including effective challenge.
• Perform testing on design of controls as required e.g. observation, inspection, replication, recalculation to ensure risks are identified and controls are effective.
• Review processes and identifies opportunities for risk mitigation through proposing new controls or revising existing controls.
• Identify where corrective actions are required and escalate per guidelines; ensure corrective action is taken as necessary.
• Coordinate and participate in the execution of oversight/governance activities including reporting; assessment of education & training needs, development/delivery of training; development and execution of regulatory administration processes & procedures; management of review/updates to policies, etc.
• Consult with stakeholders to improve consistency and transparency of control measurement/metrics and reporting.
• Assist with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• Develop and maintain in-depth knowledge of business and related risk management requirements and capital adequacy related regulatory directives and guidance.
• Build effective relationships with internal/external stakeholders.
• Ensure alignment between stakeholders.
• Analyze data and information to provide insights and recommendations.
• Document the internal control governance system, processes and framework to describe requirements, activities, processes, roles & responsibilities.
• Develop tools, checklists and communications to address gaps, issues and new requirements.
• Monitor and track performance; addresses any issues.
• Provide specialized consulting, analytical and technical support.
• Exercise judgment to identify, diagnose, and solve problems within given rules.
• Work independently and regularly handles non-routine situations.

Specific Accountabilities

Advisory

• Act as a trusted advisor to business/groups across the enterprise on capital adequacy requirements (CAR)
• Influence and negotiate to achieve unit's business objectives.
• Guide/assist in the identification and classification of CAR compliance issues; and monitor progress against action plans.

Strategic Initiatives

• Assist in the development of unit's strategic plans.
• Research existing or emerging requirements & related best practices to assist and develop recommendations for changes/enhancements.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Conduct independent analysis and assessment to resolve strategic issues.
• Assist in the development and maintenance of the internal controls governance system and framework.

Relationship Management

• Ensure alignment between stakeholders.
• Represent the internal control governance program/structure during internal/external regulatory audits and/or examinations.

Data Management

• Coordinate the management of databases; ensures alignment and integration of data in adherence with data governance standards.

Change Management

• Build change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Lead or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.

Operational Management

• Lead and integrate the monitoring, measurement & reporting on the status of the internal controls governance framework/program to internal & external stakeholders.
• Participate in the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
• May provide specialized support for other internal and external regulatory requirements.
• Provide input into the planning and implementation of ongoing operational programs in support of the risk framework.
• Lead/participate in the design, implementation and management of core business/group processes.

Broader work or accountabilities may be assigned as needed.

Qualifications:

• Typically, between 5 - 7 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, compliance, governance and/or project management is preferred.
• Knowledge of regulatory capital requirements, OSFI's CAR guidelines and Implementation Notes or Basel Committee on Banking Supervision's Minimum Capital Requirements
• Deep knowledge and technical proficiency gained through extensive education and business experience.
• Verbal & written communication skills - In-depth.
• Collaboration & team skills - In-depth.
• Analytical and problem solving skills - In-depth.
• Influence skills - In-depth.
• Data driven decision making - In-depth.

Compensation and Benefits:

Pay Type:

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:

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

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.