Vice President, Business Control Assurance

Address:

151 W 42nd Street

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 VP, Business Control Assurance is part of Governance and Controls within the Capital Markets Office of the Chief Operating Officer (OCOO). Reporting to the MD, Control Assurance, the role supports a consistent, risk-based first-line assurance program across BMO Capital Markets businesses, functions, legal entities and non-financial risk categories.

The VP leads assigned assurance portfolios and the day-to-day planning, execution and quality review of control testing, with primary responsibility for Design Effectiveness and Operating Effectiveness assessments. Operating within the strategy, methodology, risk appetite and annual plan established by the MD, the role develops test approaches, supervises testers and assigned resources, challenges evidence and conclusions, and escalates material findings, capacity constraints and methodology questions. The VP works closely with Business Control teams, control owners, Operations, Technology, first-line Enterprise Control Functions, Regulatory Business Control, second-line risk and Internal Audit while preserving the independence and objectivity of first-line testing.

Key Roles & Responsibilities

• Assigned Portfolio Planning and Execution – Translate the MD-approved Capital Markets assurance strategy and annual plan into executable testing portfolios, using risk, control inventory, prior testing, issues, events, audit results, business change and regulatory priorities to focus coverage on material exposures.
  • Risk-based coverage: Define scope, sequencing, frequency and testing approach across businesses, processes, legal entities and risk categories; identify overlaps and gaps across first-, second- and third-line assurance activity.
  • Test design: Develop proportionate test strategies, scripts, sampling approaches and evidence requirements that address the control objective and underlying risk.
  • Stakeholder alignment: Engage Business Control teams and subject matter experts during planning and test design without compromising independent execution or conclusions.
  • Ownership and accountability: Document and operationalize clear roles across Business Control teams, Governance and Controls, control owners, first-line Enterprise Control Functions and other assurance providers for assigned portfolios; identify overlaps, gaps or conflicting expectations and escalate matters requiring enterprise or senior management resolution to the MD.
  • Resource delivery: Deploy assigned employees and contractors based on risk, product knowledge, technical capability and capacity; manage day-to-day delivery and escalate structural capacity or capability gaps to the MD.

• Testing Execution, Quality and Findings – Lead the end-to-end testing lifecycle from initiation through Effective Challenge, reporting and remediation follow-up.
  • Execution: Perform or oversee Design Effectiveness and Operating Effectiveness testing; document scope, populations, samples, evidence, exceptions, ratings and rationale in accordance with enterprise and Capital Markets requirements.
  • Quality review: Review work for completeness, consistency and supportability; challenge weak evidence, unsupported conclusions and methodology deviations before submission.
  • Findings and remediation: Communicate deficiencies promptly, support root-cause and issue assessment, agree practical actions with accountable owners, and track remediation and re-testing to closure without assuming business ownership.
  • Book of record: Ensure testing plans, results, approvals, evidence and required records are complete, accurate, timely and audit-ready in GRCE.
  • Effective Challenge: Coordinate with second-line risk stakeholders, respond to challenge, resolve factual or methodological questions and escalate unresolved matters through the appropriate governance path.
• Governance, Reporting and Continuous Improvement – Translate assurance results into decision-ready insight and strengthen the effectiveness and efficiency of the program.
  • Management reporting: Report plan delivery, test outcomes, overdue activity, recurring deficiencies, risk concentrations and remediation status to the MD, Control Assurance and relevant governance forums.
  • Thematic insight: Analyze results across businesses and risk categories to identify systemic control weaknesses, inconsistent practices and opportunities for preventative controls, automation or control simplification.
  • Program improvement: Maintain procedures, templates and quality standards; integrate lessons learned; support training and capability development; and improve data, workflow and reporting efficiency.
  • Senior stakeholder engagement: Present complex findings clearly and credibly to business leaders, control owners, risk partners, auditors and regulators where required.

The ideal candidate will have the following attributes:

Skills:

• Strong control assurance judgment, including the ability to assess whether control design, evidence and operating performance support a defensible conclusion.

• Ability to develop risk-based plans, manage concurrent testing portfolios and deliver to clear quality and timing standards.
• Clear, concise written and verbal communication, including the ability to explain complex findings and business implications to senior stakeholders.
• Effective stakeholder management and constructive challenge across front-office businesses, Operations, Technology, specialist first-line teams, second-line risk and Internal Audit.
• Strong analytical capability, attention to detail and ability to identify patterns across controls, processes, issues and testing outcomes.
• Demonstrated ability to lead, coach and quality-review employees and contractors in a high-expectation environment.

Personal Attributes:

• Independent, objective and willing to challenge constructively.

• Practical problem solver who distinguishes material risk from process noise.
• Self-directed, accountable and disciplined in execution.
• Calm under pressure and able to manage competing priorities and sensitive findings.
• Collaborative and credible, with sound judgment and high professional standards.

Education/Experience:

• Undergraduate degree in Business Administration, Risk Management, Economics, Finance, Accounting or a related discipline; graduate degree or relevant professional designation is an asset.

• 7+ years of experience in financial services, Capital Markets, business controls, non-financial risk, internal audit, compliance testing, technology risk or related assurance disciplines.
• Demonstrated experience leading the control testing lifecycle, including risk-based planning, test design, Design Effectiveness and Operating Effectiveness assessment, sampling, documentation, quality review, reporting and remediation follow-up.
• Strong understanding of internal control frameworks and the respective accountabilities of first-line business and control teams, first-line Enterprise Control Functions, second-line oversight and Internal Audit.
• Knowledge of Capital Markets products, front-to-back processes and associated operational, regulatory, technology, data, third-party and resilience risks is strongly preferred.
• Experience presenting testing outcomes, thematic insights and recommendations to senior management and supporting regulatory or audit engagements.
• Experience with governance, risk and compliance platforms and data-driven reporting; GRCE, Excel and Power BI experience is an asset.
• Professional designations such as CPA, CIA, CISA, CRMA or equivalent are an asset; prior audit experience is valued but not mandatory.

The salary range for this role is $120,000 up to $170,000 USD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)

Salary:

$90,000.00 - $180,000.00

Pay Type:

Salaried

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 http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

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.