Senior Audit Manager, US Banking Wealth Management

Job Summary

Conducts audit engagements for wealth management, broker dealer and registered investment advisors to critically assess management and internal control processes. Approves the nature, extent, and timing of the audit, its execution, and the formulation of insightful audit reports. Reports on audits to provide clear, concise, and memorable insights on issues and potential issues to assist management in fulfilling mandates. This work provides vital assurance to the Board of Directors and senior management on the quality of internal control systems and reduces the risk of loss and reputational damage to the Company. This work is instrumental in identifying unacceptable/high risk circumstances that could lead to material impact on profitability or reputation. Provides independent assurance on the quality and effectiveness of internal control, risk management, and governance systems and processes to support senior management and the Board in protecting BMO and its reputation.

Key Responsibilities

• Provides strategic input into business decisions as a trusted advisor.
• Meets regularly with business/group stakeholders to identify changing strategies, tactics, and initiatives across the business group/corporate area and critically evaluate and direct changes to the audit and related procedures.
• Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
• Helps determine business priorities and best sequence for execution of business/group strategy.
• Develops the business case by identifying needs, analyzing potential options, and assessing expected return on investment.
• Acts as the prime subject matter expert for business/group/stakeholders, including colleagues across Corporate Audit.
• Ensures alignment between stakeholders.
• Provides proactive leadership and direction to team members as may be required.
• Provides feedback supporting or completing performance assessments.
• Defines business requirements for analytics & reporting to ensure data insights inform business decision-making.
• Provides "big picture" insights based upon knowledge and research, enhancing the Division's value proposition with senior leadership and business groups.
• Develops specific and, where appropriate, broad communications that identify revenue and cost management opportunities for business units/groups to assist in achieving their business goals, including profitability.
• Collaborates across BMO to develop communications strategies and ensure consistency of messaging to positively influence or change behavior.
• Develops an annual audit plan that is well-aligned to client strategies and tactics and encompasses appropriate areas of focus based upon the business and operating risks of the unit.
• Where appropriate, hires and onboards new team members.
• Continues to develop a highly engaged team with specialized expertise.
• Ensures work of subordinates is well-executed in accordance with Audit's standards and that their judgments are sound, well-documented, and repeatable.
• Manages regular performance and performance assessment of all staff for which they are responsible. Recognizes the appropriate value of timing of rewards.
• Executes audits in full recognition of the risks of the group, encompassing inherent risks, control risks, and internal/external environment and regulatory risks. This may encompass individual audits and broader capstone audits of Enterprise-level functions/processes.
• Conducts advisory engagements and other engagements as required.
• Determines the impact of changing strategies, tactics, risks, and initiatives on audit, advisory, and investigative services.
• Identifies and evaluates the impact of new and emerging technology and technology risk on the organization's processes and control environment.
• Utilizes data analytics in advisory engagements to improve quality and efficiencies.
• Develops an awareness of business strategies, policies, and standards, providing meaningful insights based upon knowledge and research that will continue to improve the Enterprise management and control processes.
• Maintains the independence of the audit practice and its personnel.
• Develops insightful discussion points contributing to audit reports that provide a fair and balanced assessment of governance, risk, and control processes based on audit work performed. Deliverables must be objective, clear, concise, and timely.
• Identifies control deficiencies and provides a fair and balanced assessment of their magnitude.
• Maintains working knowledge of the industry, regulatory, broad economic environment, and internal environment regarding the development of new strategies and plans, opportunities, and risks to obtain an understanding of the control environment.
• Ensures that all audit procedures executed are in accordance with Corporate Audit Methodology, as confirmed by its Quality Assurance program and/or regulatory examination results.
• Applies sound judgment in the execution of the assigned work and ensures open lines of communication.
• Develops and maintains good working relations with key stakeholders.
• Actively monitors change management initiatives and identifies potential risks.
• Actively participates and supports Corporate Audit change initiatives.
• Maintains and enhances professional audit qualifications in line with industry standards.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.
• Broader work or accountabilities may be assigned as needed.

Qualifications

• Typically 7+ years of relevant wealth or trust experience and a post-secondary degree in a related field of study or an equivalent combination of education and experience. Both business and audit experience preferred, but business experience is weighed heavily.
• Professional designations or business designation such as CFIRS, CIA, CPA-Audit.
• Seasoned professional with a combination of education, experience, and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem-solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
• Able to manage ambiguity.
• Data-driven decision-making - In-depth / Expert.

Work Model & Location

• Hybrid work model: 50% in-office requirement over a 2-week period.
• Chicago location - no remote option.

Salary

• $102,000.00 - $190,000.00
• 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 the 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 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.