Risk Governance Specialist

Description:

BMO U.S., a leading financial services provider committed to bold growth and positive impact, is seeking a Risk Governance Specialist, Wealth Management to join its Cross Business Risk (CBR) team in Chicago. Reporting to the Risk Framework Integration Lead, this role plays a crucial part in embedding a strong risk culture across Wealth Management while ensuring compliance with both enterprise-wide and regulatory requirements.

The specialist will be responsible for operationalizing the Enterprise Risk Management Framework (ERMF) within the First Line of Defense (1LOD), supporting risk governance processes, and enabling risk-aware decision-making across business units. The position offers the opportunity to drive improvements in risk management practices while supporting sustainable business growth.

Key Responsibilities

• Support the design and operationalization of processes that embed enterprise risk requirements into 1LOD Wealth Management operations.

• Conduct impact assessments of new regulations and enterprise mandates on existing processes, identifying compliance gaps.

• Assist in implementing risk governance processes, including policy management, escalation protocols, and governance committees/forums.

• Draft and maintain risk policies, procedures, and guidelines for Wealth Management.

• Monitor adherence to risk standards, regulatory requirements, and ERMF.

• Provide data-driven insights and prepare risk dashboards, reports, and presentations for senior management and governance forums.

• Build strong cross-functional relationships with business units, risk partners, and subject matter experts to support risk integration.

• Support audits, regulatory examinations, and internal reviews by ensuring accurate documentation and compliance evidence.

• Develop and maintain training materials to foster a risk-aware culture across teams.

• Manage documentation repositories (e.g., SharePoint) to ensure records are accurate and updated.

• Track project timelines and deliverables to meet compliance deadlines.

• Stay current on regulatory changes, industry best practices, and emerging risks to continuously enhance governance processes.

Qualifications

• 5+ years of risk management experience (preferably supporting 1LOD functions in a regulated financial institution).

• Experience working with or within a bank supervised by the Federal Reserve Board; Category 3 bank experience strongly preferred.

• Strong understanding of risk management principles, regulatory frameworks, and financial services operations.

• Advanced proficiency with Microsoft Office Suite and ability to design executive-level dashboards and reports.

• Proven ability to interpret complex data and translate findings into actionable insights.

• Excellent organizational skills with strong attention to detail and ability to manage multiple priorities simultaneously.

• Strong written and verbal communication skills to explain risk concepts clearly to both technical and non-technical audiences.

• Experience supporting risk integration, transformation initiatives, and change management projects.

• Commitment to continuous improvement and operational excellence.

Compensation & Benefits

• Salary range: $74,000 – $138,000 annually (equivalent to $6,167 – $11,500 monthly) based on skills, qualifications, and experience.

• Performance-based incentives, discretionary bonuses, and additional rewards.

• Comprehensive benefits package including:

  • Health, dental, vision, accident, and life insurance.

  • Retirement savings plans.

  • Tuition reimbursement.

  • Paid time off and other wellness initiatives.

• Opportunities for professional development, training, and career progression.

About BMO

At BMO Financial Group, employees are driven by the shared purpose to “Boldly Grow the Good in business and life.” With a strong commitment to customers, communities, and employees, BMO fosters innovation, collaboration, and inclusion. Team members are supported with tools, training, and opportunities to expand their skills while making a meaningful impact from day one.