Director, Structural Market Risk

Application Deadline:
01/18/2024
Address:
111 W Monroe - 115 S LaSalle
Job Family Group:
Audit, Risk & Compliance
We are hiring! Our Market Risk team is looking to fill a Structural Risk Oversight Director position in our HQ Chicago office.
We are looking for an individual who is result-driven and possesses strong analytical and critical thinking skills. Candidates with industry experience in Asset Liability Management and other Treasury functions are preferred.
This individual contributor role will provide the oversight of the Structural Market Risk in the United States.

• The role will interact directly with members of Corporate Treasury, second line risk management and business teams, with exposure to senior management to promote an effective risk management framework.
• The role will perform independent assessment ofStructural Market Risks, including review of ALM strategy review, models and assumptions.
• The role will conduct complex analysis to identify emerging risks and explain changes in existing measurements stemming from financial markets, balance sheet activities, and model updates.
• This role is also accountable for the review of Structural Market Risk metrics and processes to identify potential emerging risks or areas of the governance framework requiring enhancement as well as opportunities for strengthening practices

Provides Market Risk oversight, monitoring, and reporting for a designated portfolio. Develops and monitors the Market Risk management framework that includes the governance framework and practices leveraged across BMO to manage Market Risk. Provides policies and standards, methodologies, and controls to increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance and effective monitoring, timely reporting and identification of action plans.

• Provides strategic input into business decisions as a trusted advisor.
• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
• Acts as a subject matter expert on relevant regulations and policies.
• May network with industry contacts to gain competitive insights and best practices.
• Interprets new regulations and assesses impacts to the governance framework.
• Develops reports on the status of the governance program or framework components to various internal & external stakeholder audiences.
• Influences and negotiates to achieve business objectives.
• Identifies emerging issues and trends to inform decision-making.
• Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Measures the effectiveness of risk governance system and framework; recommends changes as required.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the governance system and framework.
• Acts as the prime subject matter expert for internal/external stakeholders.
• Ensures alignment between stakeholders.
• Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
• Designs and produces regular and ad-hoc reports, and dashboards.
• Develops and manages comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
• Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
• Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Leads the execution of operational programs; assesses and adapts as needed to ensure quality of execution.
• Manages the review and sign-off process for relevant regulatory reporting.
• Leads and integrates the monitoring, measurement & reporting on the status of the Market Risk governance program to internal & external stakeholders.
• Leads 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.
• Provides input into the planning and implementation of ongoing operational programs in support of the Market Risk framework.
• Leads/participates in the design, implementation and management of core business/group processes.
• Administers and maintains the Market Risk monitoring and control program activities in adherence to all policies, procedures and established processes.
• Reviews new business initiatives and monitors existing initiatives to identify potential risk situations/ impacts; makes recommendations or escalates to the manager, as per guidelines.
• Monitors the financial market environment and Market Risk model performance impacts for optimal execution of risk strategies.
• Independently administers and evaluates models, model assumptions, and key metrics used for the measurement of Market Risk for adherence to all policies and procedures applicable to the transaction based on established processes; documents and reports results of evaluations on an individual and summary basis.
• Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken as necessary.
• Provides advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.
• Coordinates and participates 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.
• Consults with stakeholders to improve consistency and transparency of risk measurement, metrics and reporting.
• Supports the development and maintenance of the governance system and framework including supporting policy/standard/operating procedures lifecycle management, education and training assessments.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
• Builds effective relationships with internal/external stakeholders.
• Ensures alignment between stakeholders.
• Analyzes data and information to provide insights and recommendations.
• Monitors and tracks performance; addresses any issues.
• Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.
• Broader work or accountabilities may be assigned as needed.

Qualifications:

• Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• In-depth / expert knowledge and understanding of the Market Risk management practices.
• In-depth / expert knowledge of regulatory requirements.
• In-depth / expert knowledge & experience with risk policy frameworks; quality control / testing frameworks.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert.

Compensation and Benefits:
$130,000.00 - $185,600.00
The base salary represents BMO Financial Group's hiring range for this position. Actual salaries will vary and will be based on various factors, such as location, skills, experience, and qualification for the role. Salaries for part-time roles will be pro-rated based on number of hours regularly worked.
Base salary is one component of BMO Financial Group's total compensation package for employees, which may include performance-based incentives, commissions or 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: www.bmousbenefits.com.
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 http://jobs.bmo.com/us/en
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. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.
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