Manager, Commercial Banking, Business Oversight Operational Non-Financial Risk

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Manager level operational risk oversight role in Commercial Banking at BMO – Toronto

Lead independent risk oversight, governance and challenge across commercial banking operations

Job Family Group:

Audit, Risk & Compliance

Title:

Manager, Commercial Banking, Business Oversight Operational Non-Financial Risk

Location:

Toronto, ON, CAN

Address:

100 King Street West

Opening and Application Deadline:

Application Deadline: 07/30/2026

Primary Job Description:

The Manager, Operational Non-Financial Risk (ONFR) provides independent second-line oversight and effective challenge of Commercial Banking's operational risk management practices. The role is responsible for monitoring the risk and control environment, assessing the effectiveness of risk management activities, advising on emerging and material risks, and providing credible challenge to business partners to ensure risks are identified, measured, monitored, and managed within established risk appetite.

The incumbent partners closely with Commercial Banking leadership, Governance & Controls teams, Compliance, Audit, and other Risk stakeholders to support strong risk management, sound governance practices, and regulatory compliance while enabling business growth and transformation initiatives.

Key Accountabilities:

Independent Risk Oversight

• Provide independent oversight, monitoring, and effective challenge of Commercial Banking's operational risk profile.
• Assess material operational risks, emerging risks, and control environment effectiveness across Commercial Banking businesses and support functions.
• Evaluate alignment of business activities with enterprise Operational Risk and Operational Non-Financial Risk frameworks.
• Provide risk advisory support on strategic initiatives, business changes, and transformation programs.

Risk and Control Assessments

• Lead and support risk assessments, deep-dive reviews, thematic reviews, and targeted assessments.
• Review and challenge Process, Risk & Control (PRC) documentation and Risk Control Self-Assessments (RCSA/PSPRA).
• Assess control design and operating effectiveness and identify opportunities to strengthen the control environment.
• Evaluate root causes, risk themes, and systemic control weaknesses.

Monitoring and Reporting

• Monitor operational risk events, issues, KRIs, monitoring and testing results, and other risk indicators.
• Analyze trends and develop meaningful insights regarding Commercial Banking's operational risk exposure.
• Prepare risk reports, dashboards, presentations, and executive summaries for senior leadership and governance committees.
• Support development and maintenance of Commercial Banking operational risk profiles.

Governance and Effective Challenge

• Participate in governance forums and provide independent challenge regarding risk decisions and remediation strategies.
• Challenge issue remediation plans and monitor progress to ensure sustainable resolution of control weaknesses.
• Support governance processes related to issue management, event management, risk appetite monitoring, and risk acceptance activities.
• Escalate material concerns in a timely manner to senior management and risk leadership.

Stakeholder Engagement

• Build strong relationships with Commercial Banking businesses and key stakeholders.
• Partner with first-line business to promote sound operational risk management practices.
• Influence outcomes through credible challenge, risk expertise, and strong business acumen.
• Support a culture of accountability, transparency, and proactive risk management.

Qualifications

Required Experience

• 7+ years of experience in Operational Risk, Enterprise Risk Management, Internal Audit, Compliance, Commercial Banking Risk, or related financial services disciplines.
• Experience assessing risks, controls, governance processes, and issue remediation activities.
• Experience working with senior stakeholders and governance committees.
• Experience preparing executive-level reporting and presentations.

Business Knowledge

• Strong understanding of Commercial Banking products, services, operations, and risk management practices.
• Knowledge of operational risk frameworks, risk appetite concepts, and industry regulatory expectations.
• Understanding of commercial lending operations, transaction processing, change management, third‑party risk, fraud, data risk, technology risk, and information security risk.

Technical Skills

• Operational Risk Management
• Risk and Control Assessments (PRC, RCSA, PSPRA)
• Monitoring & Testing
• Key Risk Indicators (KRIs)
• Operational Risk Event Management
• Issue Management
• Control Effectiveness Reviews
• Governance and Regulatory Compliance
• Data Analysis and Risk Reporting
• Root Cause Analysis
• Process Mapping and Risk Assessment Methodologies

Leadership Competencies

• Strong analytical and critical thinking skills.
• Ability to provide constructive and credible challenge.
• Excellent written and verbal communication skills.
• Strong stakeholder management and influencing capabilities.
• Ability to manage competing priorities in a fast‑paced environment.
• Strategic mindset with strong judgment and decision‑making skills.

Preferred Qualifications

• Experience working within a large financial institution.
• Experience with Governance, Risk, and Compliance (GRC) platforms.
• Experience supporting regulatory examinations, audits, or risk governance programs.

Salary

$75,900.00 - $141,900.00

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 https://jobs.bmo.com/ca/en.

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

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.