Director​/Managing Director, Business Control Assurance

Position: Director / Managing Director, Business Control Assurance
Final date to receive applications:
Address: 100 King Street West
Job Family Group:
Business Management
BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets
The Director / Managing Director, Business Control Assurance leads the independent first-line control assurance function for BMO Capital Markets and is part of Governance and Controls within the Capital Markets Office of the Chief Operating Officer (OCOO). Reporting to the MD & Head, Capital Markets Governance and Controls, the role is accountable for the strategy, operating model, annual plan, methodology, talent and performance of control assurance across Capital Markets businesses, functions, legal entities, jurisdictions and non-financial risk categories.

The final title will reflect the successful candidate’s experience, scope and leadership profile. The role sets the assurance agenda and provides the senior first-line view on whether material controls are designed and operating effectively. The role determines where assurance is required, protects testing independence, resolves significant methodology and rating matters, and converts results into enterprise-level insight and intervention. The role leads relationships with Accountable Executives, Business Control leaders, first-line Enterprise Control Functions, second-line risk, Internal Audit and regulators on control assurance matters, with the depth and level of direct executive engagement calibrated to the appointed level.

Business leaders and control owners retain ownership of risk, controls, remediation and risk acceptance; second line retains independent oversight and Effective Challenge;
Internal Audit retains third-line assurance.
Key

Roles & Responsibilities  Assurance Strategy, Mandate and Independence – Set the Capital Markets first-line assurance strategy and target operating model, aligned to enterprise requirements and the Capital Markets risk profile. Mandate and coverage:
Define the scope of the function across operational, regulatory, technology, data, third-party, resilience and other non-financial risk controls, including the criteria for central testing, reliance, specialist testing and exclusions. Independence:
Establish and enforce safeguards separating assurance execution and conclusions from control ownership, business risk decisions and remediation delivery. Methodology:
Approve Capital Markets procedures, quality standards, interpretation guidance, escalation thresholds and exceptions within enterprise requirements. Assurance model:
Coordinate first-line coverage with second-line monitoring and Effective Challenge and third-line audit to identify gaps, reduce unnecessary duplication and preserve distinct accountabilities. Ownership and accountability model:
Define, articulate and govern Capital Markets-wide roles and decision rights for business control assurance across front-office and OCOO Business Control teams, Governance and Controls, control owners, first-line Enterprise Control Functions and other assurance providers; establish who sets standards, executes testing, provides evidence, reviews quality, owns findings and remediation, accepts risk and escalates disputes. Accountability resolution:
Identify and resolve gaps, duplication and conflicting mandates across Capital Markets business control and governance functions; maintain an approved RACI or equivalent operating model and escalate unresolved accountability matters to the Head of Governance and Controls and relevant Accountable Executives. Risk-Based Planning and Portfolio Accountability – Own the…