Third Party Risk Management Specialist Jobs (NOW HIRING)

This opportunity will allow you to work on exciting initiatives within operational non-financial risk with visibility to leaders within our organization. Working within a dynamic team focused on Third-Party Risk Management, and with 1st and 2nd line subject matter experts (SMEs), you will be responsible for supporting the development and maintenance of 2nd line Third-Party risk related reporting, the creation, maintenance and monitoring of risk metrics, and other oversight activities across the Third-Party Risk Management portfolio.

Mandate:

As part of the 2nd line of defense, this role supports the following primary accountabilities of the Enterprise Third-Party Risk Management Team:

• Provide input into business decisions as a trusted advisor.

• Make recommendation to leaders on strategy and new initiatives, seeking understanding of business/group to support recommendations.

• Support maintenance and oversight of the Third-Party Risk Management Framework and other related requirements used across the enterprise to ensure Third-Party Risks are appropriately identified, assessed, managed, monitored, and reported.

• Support maintenance of regulatory oversight over Third-Party risk.

Responsibilities:

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

• Ensure alignment between values and behaviour that foster diversity and inclusion.

• Regularly connect work to BMO's purpose, set inspirational goals, define clear expected outcome, and ensure clear accountability for follow through.

• Develop and maintain in-depth knowledge of third-party risk management and applicable legislative/ regulatory requirements and guidance.

• Performs and/or effectively challenges across various programs including third-party issues & events, 1st Line monitoring & testing activities, and 1st Line reporting metrics.

• Manage 2nd Line independent monitoring program which includes reporting against various metrics across the third-party lifecycle.

• Conduct targeted reviews with accompanying analysis for any metrics outside of tolerance and/or with worsening trends.

• Support with the completion quarterly and annual risk reporting scorecards with accurate data driven insights for internal/external stakeholders.

• Analyze data and information on a continuous basis to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives.

• Identifies potential risk situations/ impacts and make recommendations or escalates to the team.

• Develops and maintains TPRM visualizations/dashboards to improve visibility of information and support data driven decision making.

• Support with the review of new/updated metrics (KRMs, KRIs and risk drivers) and associated thresholds.

• Manage the collection of TPRM Committee materials and minutes, and shared mailbox.

• Coordinate and monitor the review and sign-off of reporting, where required.

• Participate in initiatives and recommend opportunities for improved efficiency, effectiveness and/or risk mitigation.

• Supports team with any ad hoc requests, internal and external examination requests, and projects.

• Maintain documentation of all 2nd Line TPRM processes and procedures including tools and templates for operational risk programs, as required.

• Build effective relationships with internal/external stakeholders.

• Coordinate the management of databases; ensures alignment and integration of data in adherence with data governance standards.

• Provide specialized consulting, analytical and technical support.

• Exercise judgment to identify, diagnose, and solve problems within given rules.

• Work independently and regularly handles non-routine situations.

• Broader work or accountabilities may be assigned as needed.

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

Qualifications:

• Between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• Deep knowledge and experience with segmenting, analyzing, and reporting risk related data.

• Strong analytical skills to gather relevant information, compare and identify trends, develop conclusions with well-supported recommendations.

• Experience with compiling and validating materials for updates at senior level forums and/or committees

• Expert in report automation and efficiency through visualization tools (ie: Microsoft PowerBI)

• Familiar with operational risk management practices and methodologies

• Familiar with financial products and services

• Deep knowledge and technical proficiency gained through extensive education and business experience.

• Strong communication skills, both verbal and written.

• Ability to build and foster stakeholder relationships.

• Excellent analytical and problem-solving skills, with any eye for detail.

• Strong proficiency with PowerBI, Python, PowerPoint, Excel, and SharePoint.

• Familiar with Governance, Risk, and Control (GRC) tools such as RSA Archer

• Ability for work on multiple tasks accurately