Director / Managing Director, Business Control Assurance

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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 enterprise-aligned annual and multi-year assurance plan and remain accountable for delivery, quality and material changes.
  • Risk assessment: Integrate control inventories, risk assessments, KRIs, issues, events, audit and regulatory findings, business change and emerging risks to prioritize coverage.
  • Plan approval: Secure appropriate Accountable Executive approvals, govern in-year changes and maintain transparent rationale for coverage decisions, deferrals and trigger-based testing.
  • Portfolio oversight: Set expectations for testing leads and team members, monitor delivery and aging, resolve cross-portfolio dependencies and intervene where quality, capacity or stakeholder barriers threaten outcomes.
  • Reliance: Determine when work performed by specialist first-line teams or other assurance providers can be relied upon, subject to documented standards and quality assessment.
• Quality, Findings and Senior Decisions – Establish the standard for defensible assurance outcomes and exercise senior judgment on significant matters.
  • Quality governance: Maintain a proportionate quality assurance framework, including file review, calibration, performance metrics and root-cause analysis of recurring quality failures.
  • Material conclusions: Review or approve significant failures, disputed ratings, cross-business themes, methodology exceptions and matters requiring senior escalation.
  • Remediation challenge: Ensure findings are clear, evidence-based and directed to accountable owners; challenge whether proposed actions address root cause and authorize re-testing strategy without assuming remediation ownership.
  • Escalation: Escalate unaddressed control weaknesses, overdue remediation, unacceptable risk exposure or impediments to assurance through the Head of Governance and Controls and relevant business and risk governance.
• Governance, Insight and External Engagement – Provide an integrated view of control effectiveness and use assurance outcomes to drive management action.
  • Executive reporting: Present plan coverage, delivery, results, themes, concentrations, overdue activity and management actions to senior executives and governance committees.
  • Risk insight: Connect assurance results with KRIs, issues, events, risk assessments and change activity to form a forward-looking view of control performance and emerging vulnerability.
  • Senior relationships: Act as the primary Capital Markets first-line assurance contact for Accountable Executives, second-line risk, Internal Audit, Corporate functions and regulators.
  • Regulatory and audit support: Lead assurance-related responses, examinations and reviews; ensure positions are consistent, evidence-based and supported by clear ownership and action plans.
• Organization, Capability and Transformation – Build a scalable, high-performing assurance function with the capacity and expertise to cover a complex global Capital Markets business.
  • People leadership: Lead, coach and hold accountable employees and contractors; establish clear roles, succession, development and performance standards.
  • Resource strategy: Own workforce and vendor strategy, budget, capacity planning and the case for investment; align expertise to the highest-risk coverage needs.
  • Technology and data: Sponsor workflow, analytics, automation and responsible AI to improve coverage, quality, cycle time and insight while maintaining human judgment and evidence standards.
  • Continuous improvement: Benchmark the program, incorporate lessons from testing, challenge, audit and regulatory activity, and drive simplification and control maturity across Capital Markets.
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The ideal candidate will have the following attributes:

Skills:

• • Enterprise-level control assurance judgment and the credibility to take clear positions on significant control, methodology and rating matters.
  • Ability to set strategy, build an operating model and convert complex enterprise requirements into practical Capital Markets execution.
  • Strong executive communication, including concise reporting of control effectiveness, systemic weakness, business implications and required decisions.
  • Exceptional influence and constructive challenge across business executives, first-line control teams, second-line risk, Internal Audit and regulators.
  • Proven organizational leadership, including talent development, succession, resource strategy, vendor management and performance accountability.
  • Strong analytical and transformation capability, with experience using data, automation and technology to improve assurance coverage and insight.

Personal Attributes:

• • Independent, decisive and willing to escalate material concerns.
  • Commercially grounded and able to balance rigor, proportionality and pace.
  • Strategic thinker who remains close enough to execution to identify weak signals and intervene.
  • Calm, credible and direct in high-stakes or contentious situations.
  • Collaborative leader who creates clarity, raises standards and builds strong teams.

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.
• 10+ years of progressive experience in financial services, with substantial leadership experience in Capital Markets business controls, non-financial risk, internal audit, compliance testing, technology risk or related assurance disciplines; the depth and breadth of experience expected will be calibrated to the appointed Director or Managing Director level.
• Demonstrated accountability for a significant assurance, testing or audit program, including strategy, annual planning, methodology, quality, reporting, regulatory engagement and people leadership.
• Strong knowledge of Global Markets and Investment & Corporate Banking products, front-to-back processes, legal-entity considerations and associated operational, regulatory, technology, data, third-party and resilience risks.
• Deep understanding of the respective accountabilities of business and control owners, independent first-line assurance, first-line Enterprise Control Functions, second-line oversight and Internal Audit.
• Experience advising senior executives and governance committees on material control weaknesses, risk acceptance, remediation priorities and systemic themes.
• Proven success leading organization transformation, building capability and deploying data, workflow or automation to improve assurance outcomes.
• Professional designations such as CPA, CIA, CISA, CRMA or equivalent are an asset; broad first-line business and control experience is strongly valued.

The salary range for this role is $180,000 up to $230,000 USD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)

Salary:

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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 BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

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