Market Risk Oversight Manager

2 weeks ago

Chicago, Illinois, United States BMO Financial Group Full time
Job Title: Market Risk Oversight Manager

BMO Financial Group is seeking a highly skilled Market Risk Oversight Manager to join our team. As a key member of our risk management team, you will be responsible for providing market risk oversight, monitoring, and reporting for a designated portfolio.

Key Responsibilities:
  • Develop and monitor the market risk management framework, including governance frameworks and practices.
  • Provide policies and standards, methodologies, and controls to increase transparency, accuracy, and consistency across groups.
  • Work 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.
  • Analyze risk metrics from modeling, interest rate, and balance sheet changes/movements.
  • Monitor Structural Market Risk limits set by the bank and investigate deviations and excesses.
  • Prepare presentations and materials on Structural Market Risk position for committee meetings.
  • Act as a trusted advisor to assigned business/group and influence and negotiate to achieve business objectives.
  • Recommend and implement solutions based on analysis of issues and implications for the business.
  • Assist in the development of strategic plans and identify emerging issues and trends to inform decision-making.
  • Research existing or emerging requirements and related best practices to assist and develop recommendations for changes/enhancements.
  • Assist with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
  • Help determine business priorities and best sequence for execution of business/group strategy.
  • Conduct independent analysis and assessment to resolve strategic issues.
  • Lead the development and maintenance of the governance system and framework.
  • Support development and execution of strategic initiatives in collaboration with internal and external stakeholders.
  • Ensure alignment between stakeholders.
  • Represent the risk program/governance structure during internal/external regulatory audits and/or examinations.
  • Coordinate the management of databases; ensure alignment and integration of data in adherence with data governance standards.
  • Build change management plans of varying scope and type; lead or participate in a variety of change management activities.
  • Lead or participate in defining the communication plan designed to positively influence or change behavior.
  • Guide/assist in the identification and classification of issues; recommend action plans.
  • Lead and integrate the monitoring, measurement, and reporting on the status of the market risk governance program to internal and external stakeholders.
  • Lead 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.
  • Provide input into the planning and implementation of ongoing operational programs in support of the market risk framework.
  • Lead/participate in the design, implementation, and management of core business/group processes.
  • Administer and maintain the market risk monitoring and control program activities in adherence to all policies, procedures, and established processes.
  • Review new business initiatives and monitor existing initiatives to identify potential risk situations/impacts; make recommendations or escalate to the manager, as per guidelines.
  • Monitor the financial market environment and market risk model performance impacts for optimal execution of risk strategies.
  • Independently administer and evaluate 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; document and report results of evaluations on an individual and summary basis.
  • Identify where corrective actions are required and escalate per guidelines; ensure corrective action is taken as necessary.
  • Provide advice and guidance to assigned business/group on implementation of the risk framework, including effective challenge.
  • Coordinate and participate in the execution of oversight/governance activities, including reporting; assessment of education and training needs, development/delivery of training; development and execution of regulatory administration processes and procedures.
  • Consult with stakeholders to improve consistency and transparency of risk measurement, metrics, and reporting.
  • Support the development and maintenance of the governance system and framework, including supporting policy/standard/operating procedures lifecycle management, education, and training assessments.
  • Develop and maintain in-depth knowledge of business and related risk management requirements and legislative/regulatory directives and guidance.
  • Build effective relationships with internal/external stakeholders.
  • Ensure alignment between stakeholders.
  • Analyze data and information to provide insights and recommendations.
  • Monitor and track performance; address any issues.
  • Coordinate and monitor the review and sign-off of regulatory reporting and attestations.
  • Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
  • Provides specialized consulting, analytical, and technical support.
  • Exercises judgment to identify, diagnose, and solve problems within given rules.
  • Works independently and regularly handles non-routine situations.
  • Broad work or accountabilities may be assigned as needed.
Qualifications:
  • Typically between 5-7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • CFA designation preferred.
  • In-depth knowledge and understanding of asset liability management and market risk management practices.
  • In-depth knowledge of regulatory requirements.
  • In-depth knowledge and experience with risk policy frameworks; quality control/testing frameworks.
  • Deep knowledge and technical proficiency gained through extensive education and business experience.
  • Verbal and written communication skills - In-depth.
  • Collaboration and team skills - In-depth.
  • Analytical and problem-solving skills - In-depth.
  • Influence skills - In-depth.
  • Data-driven decision-making - In-depth.

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