Commodities operational risk programs - lead the assessment frameworks governing BMO-owned inventory, storage, and transportation, including MORA and equivalents for other commodity classes.
Execute new provider and location assessments, including scoring, escalation, and approval routing; conduct periodic and trigger-based reviews of approved providers, facilities, and clients.
Perform daily inventory, insurance certificate, and limit monitoring across providers, locations, clients, and jurisdictions, including limit increases, excesses, breaches, and country risk exposure; approve limits in IMS where delegated.
Coordinate and execute the site visit and due diligence program, including findings and follow-up.
Own assessment questionnaires, procedures, monitoring tools, and governance documentation, including periodic refresh, second-line challenge, and approval.
Build out a consolidated commodities-level operational risk program extending beyond metals to energy, agricultural, and other physical sectors, including country risk tiering, scoring, and monitoring.
Advise on new products, clients, storage and transportation arrangements, jurisdictions, and business initiatives, identifying operational, process, insurance, third-party, and related execution risks across the commodity lifecycle and engaging specialist partners where required.
Coordinate engagement with specialist partners across ONFR, Corporate Risk Insurance, Physical Security, AML, Third Party Risk, Country and Credit Risk, Regulatory Business Control, Compliance, Legal, and Tax to support timely assessment and escalation without duplicating their accountabilities.
Governance, Reporting & Stakeholder Engagement - translate Commodities risk and control activity into decision-ready insight for business leadership and governance forums.
Produce the monthly Commodities operational risk update covering inventory, providers, limits, assessment status, and workstream progress.
Prepare first-line materials and speaking points for risk and control committees, including business spotlight and thematic reviews.
Provide Commodities Sales, Trading, and Origination leadership with risk posture commentary, options, and clear recommendations.
Partner with Operations, Technology, and first-line Centres of Excellence on system, data, and process enhancements that strengthen the control environment.
The ideal candidate will have the following attributes:
Skills:
Excellent organizational skills with ability to create/execute a detailed plan for short- and long-term work.
Build positive stakeholder relationships within Capital Markets and across Corporate Support Areas to garner support, advice and partnership that enables execution of the role.
Communicate effectively in writing and verbally at all levels, including senior executives; able to present complex operational and process risks clearly and credibly to business, risk, audit, and specialist stakeholders.
Proactive and self-directed, with the ability to quickly develop depth in new initiatives, changing business activity, emerging operational risks, and business priorities.
Personal Attributes:
Confident, team player.
Problem solver, decision maker, proposes solutions.
Motivated, self-directed.
Strong verbal, written and interpersonal communication.
Calm under pressure, ability to execute while manage competing priorities.
Humble, ability to laugh at self.
Anticipate needs and requests.
Education/Experience:
Undergraduate degree in Business Administration, Risk Management, Economics, Finance, or related discipline.
Graduate degree and/or relevant professional designation is an asset.
5+ years of experience in commodities, Capital Markets, banking, or financial services, with demonstrated responsibility for operational risk, process execution, business controls, operations, physical commodity logistics, or related disciplines.
Direct experience supporting physical commodities trading, commodity merchants, logistics or storage operators, commodity financing, or commodity risk management. Metals, energy, agricultural, or environmental markets strongly preferred.
Strong understanding of Global Markets activities, with depth in Commodities sales, trading, financing, and origination and the associated operational risks, controls, and governance frameworks.
Knowledge of physical commodities business models and end-to-end trade lifecycles, including the operational and process risks associated with logistics, storage, transportation, inventory, settlement, third-party providers, and related control points.
Familiarity with the regulatory environment and market practices applicable to commodities is an asset, with the judgment to identify potential regulatory implications and engage Regulatory Business Control, Compliance, or Legal as appropriate.
Ability to analyze complex commodity transactions and operating arrangements and translate process or execution risks into clear financial, operational, and business impacts.
Proven ability to manage significant incidents, issues, and crisis situations in a fast-paced environment.
Experience working across front-office businesses, Operations, Technology, first-line Centers of Excellence, second-line risk, audit, and specialist partners to resolve control gaps and deliver remediation.
Advanced proficiency with Microsoft Office Suite, including Excel, PowerPoint, Word, Power BI, and Visio.
Salary:
The salary range for this role is $150,000 up to $180,000 USD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)
Salary:
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/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 stereo@types, 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.
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.
