The Manager, Exam & Audit Management is responsible for managing and coordinating exams, audits and risk assessments in Canada for operations business units within T&O, including Capital Markets, Wealth Management, Personal & Commercial Operations and Independent Controls. In addition, for exams and audits involving T&O operations units led by another area, this position will serve as the point of contact and exam/audit manager for operations. The position will execute the Exam and Audit Management Framework including pre-planning through fieldwork to post exam/audit support. The position will also support in the development and implementation of remediation action plans necessary to address audit, examination or risk assessment quality review findings. The position will develop and maintain strong working relationships with regulators, auditors (internal and external) and second line of defense partners (including corporate compliance).
Exam and Audit Management and Coordination (50%)
Manage and coordinate exam, audit and risk assessment (internal and external) activities for Canadian operations units
Act as single point of contact for other business group's exams and audits that require leadership, participation and involvement from operations business units
Perform pre-exam/audit planning and preparation including documentation of pull lists, data / loan files and kick-off meetings
Coordinate all exam and audit activities, meetings and communications during the fieldwork phase.
Coordinate communication with the regulators and examiners before, during and after the exam/audit
Provide governance and oversight to the Exam and Audit Framework
Review all exam and audit findings, coordinate and assist in the development of management responses/action plans
Provide credible independent challenge to corrective action plans and evidence of completion
Monitor progress, completion, sustainability and closure of all open audit and exam issues
Analyze alternatives for addressing findings. Recommend specific changes in processes and procedures to prevent further occurrences of non-compliance
Partner with Control Framework/Integrated Testing for Pre-Exam/Audit Preparation and Testing to self-identify and disclose issues and improvement opportunities
Develop and maintain comprehensive exam, audit and risk assessment calendar for operations business units
Ensure meeting the BMO Enterprise Regulatory Office/Governance Program Office's Exam Management Framework and Policies
Provide effective challenge and confirm sustainability of exam, audit and risk assessment identified remediation action plans
Ensure alignment and adherence to Enterprise Compliance Program
Business Partnership / Relationship Management (20%)
Develop general business acumen regarding operations business units, including processes, procedures and performance drivers
Develop and maintain close working relationships across the company to ensure effective communication and follow up on audits and regulatory examinations. Resolve issues as needed.
Collaborate with operations business units in the preparation, execution and follow-up during all the phases of an exam, audit or risk assessment.
Work effectively with key corporate support areas including Credit Risk, Operational Risk, Legal, 2nd Line Compliance and Internal Audit.
Develop strong working relationships with regulators and internal auditors.
Regulatory Knowledge (20%)
Develop and maintain basic knowledge of all applicable laws and regulations affecting Capital Markets and Wealth Management Operations.
Analyze proposed and final rulings to regulations to determine impact on current Capital Markets/Wealth Management Operations procedures.
Serve as a Subject Matter Expert and provide technical consultation to Capital Markets/Wealth Management Operations staff regarding regulatory requirements.
Special Projects (10%)
Lead / Assist on special projects as assigned by the Director, Independent Controls, Governance & Oversight and Exam & Audit Management
Qualifications Knowledge and Skills
Bachelor's Degree required
Advanced Degree preferred
5+ years of regulatory relationship management experience
5+ years Bank regulatory compliance experience
5+ years of audit, exam or quality control experience
General knowledge of BMO and its affiliated banks
Knowledge and understanding of operations business units that may include capital markets, wealth management, personal & commercial operations
General understanding of the regulatory and compliance requirements applicable to Capital Markets and Wealth Management Operations.
Experience/knowledge with one or more areas preferred: OSFI, Capital Markets, IIROC, FINRA, MFDA, Operations, Capital Markets Institutional Compliance
Strong relationship management skills
Outstanding written and oral communication skills
Strong independent research skills
Strong analytical skills and the ability to identify legal/regulatory issues
Ability to influence others outside of direct reporting relationships
Ability to prioritize work and simultaneously manage and deliver multiple projects
We're here to help
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.
Internal Number: 6280102
About Bank of Montreal
eFinancialCareers is a career site specializing in financial services.