Operational Risk Manager

The Operational Risk Manager is responsible for:

• Supporting the oversight of the Operational Risk Management Framework (ORMF) within BMO Capital Markets London.
• Executing Risk Management London’s Second Line responsibilities under the ORMF within London, including reporting a consolidated risk profile to senior management.
• Seeking ways to improve the quality and efficiency of London Risk Management’s Operational Risk coverage.

Under the “Three Lines of Defence” model, this role is part of the London Risk Management department. It reports to the Senior Manager leading Operational Risk oversight in London.

As part of the core responsibilities above, the Operational Risk Manager is required to:

• Provide general oversight and subject matter expertise on all Operational Risk matters in London.
• Support identification of emerging Operational Risk, working with the business as appropriate.
• Support implementation of a new process and control-based risk assessment and associated process, risk and control libraries. Execute for London Risk Management and provide oversight for other local teams.
• Review and challenge of First Line execution.
• Review and challenge new business initiatives.
• Provide oversight of the London Operational Resilience Programme.
• Review and challenge the operational event and issue management processes.
• Support oversight of algorithm governance in London.
• Support production of Non-Financial Risk capital numbers for BMO Capital Markets Ltd.
• Support and execute scenario analysis in the London business.
• Contribute to regulatory and audit responses as required.
• Produce reporting for senior management committees showing a consolidated Operational Risk profile.
• Setting and reporting monthly metrics/KRIs.
• Set, measure and report the Risk Appetite Statements of:
• The BMO Capital Markets Ltd Board.
• The London Branch Executive Committee.
• Maintain regular contact with and manage senior stakeholders across the business.
• Manage London Risk’s relationship with the Enterprise Operational Risk team globally.

The Operational Risk Manager supports the Senior Manager and CRO Europe in promoting a risk culture in London. This includes advising employees in their responsibilities with regard to Operational Risk and corresponding regulatory requirements.

The role supports London Risk Management in acting as a local interface with all relevant Enterprise areas in matters of Operational Risk.

Knowledge:

• Operational experience of a variety of financial products and processes.
• Experience of Second Line Risk Management in a Capital Markets environment.
• Demonstrated ability to work autonomously and within a team environment.
• Good understanding of broader risk frameworks (Credit, Market, Liquidity) and risk management practices.
• Good understanding of UK Operational Risk regulatory environment and trends.
• Good working knowledge of standard MS Suite applications (Excel, PowerPoint, Word).

Skills:

• Operational Risk skills, practical and theoretical.
• Demonstrated ability to identify improvement opportunities and implement change.
• Confident, demonstrated ability in dealing with stakeholders of all levels of seniority.
• Strong communication skills.
• Able to work under pressure.