at BMO Financial Group in Chicago, Illinois, United States
Job Description
If you’re looking for your next dream job, consider this one in BMO’s Enterprise Risk Group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture. \#ERPMDreamJobs
+ The US AML Risk Assessment Team Lead is accountable for the execution and communication of Money Laundering, Terrorist Financing and Sanctions (collectively AML) risk assessments for US Businesses and higher risk customer types. This includes quantitative and qualitative data and controls analysis and drafting of Executive Summary Reports detailing the inherent risks for the subject area, the relevant controls, and the residual risk.
+ Leads Risk Assessment analysts to ensure timely progress and quality work.
+ Responsible for review of workpapers and summary reports to ensure accuracy and clarity.
+ Prepares and presents high level quarterly updates related to the Risk Assessments to the AML Risk Oversight Committee.
+ Prepares the annual risk assessment schedule and presents to the AML Risk Oversight Committee.
+ Consults with stakeholders to ensure accurate understanding and documenting of the risks and controls for various lines of business, product types, and high risk customer types.
+ Analyzes large data sets to summarize customer and transactional data in order to determine risk levels.
+ Assess risk impacts regarding new business initiatives, new strategic initiatives, new regulatory requirements.
+ Identifies potential risk situations/ impacts, and make recommendations or escalates to the manager, as per guidelines.
+ Collaborates with Enterprise Risk team to assess new templates and thresholds and raises challenge where needed to ensure needs are met.
+ Proactively identifies efficiency opportunities and suggests better ways of working.
+ Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
+ Builds effective relationships with 1st and 2nd line stakeholders.
+ Exercises judgment to identify, diagnose, and solve problems.
+ Works independently on a range of complex tasks, which may include unique situations.
+ Broader work or accountabilities may be assigned as needed.
Qualifications:
+ Typically between 4 – 6 years of relevant experience in AML Risk Management or related role and post-secondary degree in related field of study or an equivalent combination of education and experience.
+ Working / in-depth knowledge of financial crime risk management practices.
+ Working / in-depth knowledge of the designated business / product portfolio.
+ Working / in-depth knowledge of regulatory requirements.
+ Strong Excel skills for pivot tables, filters, and other data analysis techniques.
+ Excellent writing skills with the ability to communicate clear, concise messages.
+ Collaboration & team skills – In-depth.
+ Analytical and problem solving skills – In-depth.
Salary:
$72,500.00 – $134,500.00
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
We’re here to help
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/us/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. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. 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.
