The Senior Manager, Outsourcing & Supplier Risk Framework & Governance is accountable for supporting the development, implementation and maintenance of the Outsourcing & Supplier Risk (OSR) Framework, including the OSR Corporate Standard (and related directives) used by the bank to meet regulatory requirements and ensure OSR methodologies and processes are appropriately governed and mitigated.
As part of the 2nd line of defense, this role supports the following primary accountabilities of the Outsourcing & Supplier Risk Management team:
Development, implementation and maintenance of the OSR Corporate Standard, Framework and other related methodologies that are used across the enterprise to ensure Outsourcing & Supplier Risks are appropriately identified, assessed, managed, monitored and reported;
Supporting and driving consistency in the implementation of the framework and methodology across the enterprise
Provide oversight and 2nd line effective challenge to ensure the Outsourcing & Supplier Risks are being managed in accordance with applicable Regulatory and Governance requirements;
Provide thought leadership in development of sound Outsourcing & Supplier Risk (OSR) Management Risk Management practices
Promote and support BMO's risks culture ensuring employees understand their accountabilities for risk-taking activities as they relate to Outsourcing & Supplier Risk, promoting an environment of open communication and effective challenge
Support development and implementation of relevant policies, standards, frameworks and requirements relating to management of Outsourcing & Supplier Risk
Provide subject matter expertise and guidance on the bank's Outsourcing & Supplier Risk Management Framework to ensure adequate understanding of risk management philosophy, policies, accountabilities and processes.
Ensure compliance with the Enterprise Operational Risk Management Policy & Framework
Ensure compliance with Enterprise's Risk Appetite Framework and ensure Outsourcing & Supplier risk-taking activities remain within risk tolerances
Support 1st and 2nd Lines of businesses to appropriately identify, assess, measure and manage Outsourcing & Supplier Risk across their portfolios
Collaborate with all risk experts and stakeholders to ensure appropriate coverage and scrutiny of Outsourcing & Supplier Risks across all risk registers, libraries, forums and committees
Support remediation of Audit and Regulatory issues and findings relating to the design of the Outsourcing & Supplier Risk Management policies, standards, frameworks, and requirements
Provide 2nd line oversight and effective challenge to ensure sound management of Outsourcing & Supplier Risk
Provide oversight to ensure that Outsourcing & Supplier Risk across the Enterprise remains within the established risk appetite, and that internal controls are appropriately designed and implemented, and are operating effectively
Provide input and effective challenge to ensure projects, initiatives and other change activities appropriately consider Outsourcing & Supplier risks
Provide input and effective challenge to ensure that issues and operational risks events relating to Outsourcing & Supplier Risk are appropriately remediated within set timelines
Provide subject matter expertise and guidance on specific operational risk events, recommending solutions for management of Outsourcing & Supplier risks that are commensurate with the materiality and complexity of the event
Provide effective 2nd line oversight and effective challenge to ensure sound Operational Risk Management within the Procurement
Understand industry trends and regulatory requirements relating the Vendor Management, and articulate 2nd Line of Defense positions on these (to share with Senior Leadership and 1st Line Risk Experts of these functions)
Provide thought leadership and subject matter expertise on all Operational Risk Categories (AML, Legal, Compliance etc.) for Procurement
Provide oversight and 2nd line effective challenge to ensure all operational risks within the Procurement functions are appropriately managed
Ensure Operational Risks from risk taking activities within Procurement functions are identified, assessed, measured, managed and reported within a consistent framework of robust internal controls
Provide subject matter expertise and unique insights
Provide subject matter expertise on Outsourcing & Supplier Risk Management to internal stakeholders
Support analysis of internal and external data to drive unique insights to identify risks, and recommend improvements OSR management programs
Support risk reporting of the Outsourcing & Supplier Risk profiles for individual operating groups and the Enterprise
Relationship Management and Internal Integration
Develop and maintain effective relationships with primary 1st line business partners
Build collaborative relationships with Operational Risk Officers, and other risk management groups and subject matter experts across the organization
Promote effective working relationships with Regulators
Anticipate and prepare for emerging regulatory developments, and support maintenance effective relationships with regulators
Promote communication of regulatory engagement standards and best practices
Participate in industry groups to influence development of regulatory requirements
Qualifications KNOWLEDGE AND SKILLS
Undergraduate university degree, and Graduate degree or Professional Designation (CPA, FRM)
Experience in developing risk management policies, standards and guidelines built through 7-10 years of related experience, preferably in financial services organization
In-depth knowledge of key concepts and best practices in Operational Risk Management
In-depth knowledge of Third Party Management lifecycle and related risk management standards, methodologies and practices is an asset
Sound knowledge of multi-jurisdictional regulatory environments and trends related to Outsourcing & Supplier Risk
Advanced experience in structuring, organizing and managing complex projects/programs.
Exposure to retail/wholesale banking is an asset
In-depth knowledge and understanding of BMO Financial Group's organization and structure
Leadership, organization, and planning ability
Relationship management, communication and presentation skills
Strong ability to influence others
Consistent ability to produce exceptional quality output and manage competing deadlines, priorities, accountabilities and constraints.
Excellent execution skills and change management capabilities.
Ability of identify and effect appropriate risk governance and control mechanisms
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: 6523845
About Bank of Montreal
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