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We are seeking a Senior Manager to join the Payment Risk team at BMO. This is a key position within the 2nd Line of Defense, which will report to the Head of Payment Risk within the North American Commercial Banking Operational Risk Oversight team. The Senior Manager, Payment Risk will be responsible for enterprise-wide payment risk reporting and oversight of the regional payment systems and central clearinghouses that BMO belongs to. This position will also work directly with US and Canadian product managers to develop a holistic understanding of their risk profiles and related metrics to ensure appropriate controls are in place. As this is a newer risk discipline, the incumbent should be comfortable working with stakeholders to make key methodology and design decisions, communicate effectively, and meet heightened regulatory expectations in a quickly evolving system.

Membership and/or certifications in payment related associations like Payments Canada, North American Clearinghouse Assocation (NACHA), Association for Payment Professionals is a plus.

This role offers very flexible work arrangement; remote, hybrid or in person.

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

Provides oversight, monitoring and reporting on operational risks for a designated portfolio. Develops and monitors the operational management framework that includes the governance framework & practices leveraged across BMO to manage operational risks. Provides policies & standards, methodologies and controls that 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 as well as effective monitoring, timely reporting and identification of action plans.

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.

• Ensures alignment between values and behaviour that fosters diversity and inclusion.

• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group and related payment products.

• Establishes and maintains appropriate scorecards, KRI metrics and thresholds to effectively manage the risk inherent in BMO’s payment products portfolio.

• Represents payment risk for internal/external regulatory audits and/or examinations.

• 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.

• Identifies emerging issues and trends to inform decision-making.

• Leads the development and maintenance of the governance system and framework.

• Acts as the prime subject matter expert for internal/external stakeholders.

• 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.

• Defines business requirements for analytics & reporting to ensure data insights inform business decision making.

• Leads the development of the communication strategy focusing on positively influencing or changing behaviour.

• May provide specialized support for other internal and external regulatory requirements.

• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.

• Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives.

• 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 operational 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.

Salary:

$100,000.00 - $185,500.00

Pay Type:

Salaried

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: https://jobs.bmo.com/global/en/Total-Rewards

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 https://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.

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.