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Title: Senior Specialist, Operational Risk Oversight & Governance
Work Model: Hybrid
Location: Toronto, Ontario
Role Overview
The Senior Specialist, Operational Risk Oversight & Governance provides leadership, oversight, and independent challenge across the Technology and Operations portfolio, supporting the execution and continuous enhancement of BMO’s Operational Risk Management Framework. Operating in a highly dynamic and evolving risk and regulatory environment, the role is accountable for delivering forward‑looking risk insight, advising senior and executive leadership, and strengthening operational risk governance, controls, and decision‑making.
The role partners closely with technology and operations leaders to assess existing, new, and emerging risks, consolidate risk intelligence, and provide both reactive and strategic analysis of the T&O risk profile. Acting as a trusted advisor and second line of defense, the role influences key business initiatives while maintaining strong independence and credibility as a control function.
Key Accountabilities:
Operational Risk Governance & Framework Oversight
Provide strategic and independent oversight of operational risk exposures across the assigned Technology & Operations portfolio, aligned to enterprise risk frameworks and regulatory expectations.
Lead and contribute to the design, execution, assessment, and continuous refinement of operational risk governance practices, policies, standards, methodologies, and control environments.
Measure the effectiveness of the operational risk framework using qualitative and quantitative indicators, identifying weaknesses and recommending targeted enhancements.
Interpret and assess the impact of new and emerging regulatory requirements, ensuring timely, risk‑based responses aligned with supervisory expectations.
Ensure compliance with regulatory, policy, and governance requirements through expert oversight and challenge rather than procedural review.
Independent Risk Oversight & Challenge (Second Line)
Provide independent oversight and effective challenge of First Line execution of core elements of the Operational Risk Management Framework, including:
Event management
Issue management
New business initiatives and change activities
Controls monitoring and testing
Product, Service, and Process Risk Assessments
Proactively identify, monitor, and report emerging risks, issues, and trends, translating insights into actionable guidance and mitigation strategies.
Provide an independent assessment of the T&O operational risk profile and escalate material exposures with sound judgment and clear recommendations.
Strategic Advisory & Senior Stakeholder Engagement
Act as a trusted advisor to senior and executive leadership, delivering clear, credible, and independent risk perspectives that influence strategic initiatives, operating models, and business priorities.
Advise Senior Management on operational risk matters, including trade‑offs, risk appetite considerations, and control effectiveness.
Maintain strong relationships with senior stakeholders across Technology, Operations, Corporate Support Areas, and Enterprise Risk, fostering alignment while preserving independence.
Help manage T&O Risk’s relationship with the broader Enterprise Risk function.
Program Execution, Monitoring & Change
Oversee and continuously improve operational risk programs in response to evolving risks, business strategies, and regulatory expectations.
Monitor and track performance of T&O units against risk objectives, addressing issues, gaps, and emerging risk signals proactively.
Lead or support change initiatives related to operational risk, ensuring readiness, adoption, and sustained improvement across stakeholders.
Continually identify opportunities to enhance the team’s delivery, effectiveness, and impact.
Risk Intelligence, Reporting & Governance Forums
Oversee the development and delivery of risk reporting, dashboards, and metrics that clearly articulate risk posture, trends, and material issues to senior leadership.
Apply data‑driven analysis and expert judgment to assess the risk implications of new initiatives, processes, and technology changes.
Lead or contribute to governance forums, ensuring mandates, escalation paths, and decision rights are effective and fit for purpose.
Regulatory, Audit & Enterprise Engagement
Represent the Technology & Operations portfolio in regulatory engagements, audits, examinations, and supervisory interactions.
Contribute to regulatory responses, audit activities, and remediation efforts as required.
Translate regulatory feedback into practical, risk‑based enhancements to governance, controls, and operating practices.
Provide enterprise‑level expertise on Technology operational risk matters, particularly across North America.
Qualifications
Education & Experience
Post‑secondary degree in a related field, or an equivalent combination of education and experience.
Typically 7–10+ years of progressive experience in operational risk management, technology risk, governance, or related control functions, within complex and regulated environments.
Knowledge & Expertise
In‑depth knowledge of:
Technology and operational risk management frameworks and governance models
Regulatory requirements and supervisory expectations
Risk policy frameworks, quality control, controls monitoring, and testing methodologies
Technology and Operations business processes, products, and services
Risk data, measurement techniques, and risk intelligence practices
Skills & Competencies
Strong ability to manage ambiguity and complexity in fast‑changing environments.
Proven influencing, negotiation, and stakeholder‑management skills across all seniority levels.
Excellent analytical, critical‑thinking, and problem‑solving capabilities.
Data‑driven decision maker with the ability to convert insights into strategic recommendations.
Exceptional written and verbal communication skills, including executive‑level messaging.
Comfortable working autonomously and collaboratively under pressure.
Strong working knowledge of Microsoft Office applications (Excel, PowerPoint, Word
Salary:
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: https://jobs.bmo.com/global/en/Total-Rewards
About Us
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/ca/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. 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.