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BMO Financial Group Senior Compliance Officer in Toronto, Ontario

Address:

100 King Street West

Job Family Group:

Audit, Risk & Compliance

Reporting into the Senior Manager, Wealth Management Compliance, this role will be responsible to: Provide expert regulatory compliance support, guidance and advice in support of the Enterprise Compliance Program (ECP). Contribute to the sound and efficient execution of Wealth Management by improving the understanding and execution of the regulatory and risk requirements in accordance to the Enterprise Compliance Program and specific compliance controls.

With support from the BUCO team in the First Line, and the Senior Manager, Wealth Management Compliance in the Second Line, this role will support the Operations group with:

Assists in the implementation, maintenance and administration of a specific compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with Wealth Management Compliance Program. Works with business/group and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Advises business/group on implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them. Identifies risks and implements appropriate actions to mitigate them. Develops and maintains compliance information for analysis and reporting. Achieves compliance goals by maintaining current knowledge of regulatory requirements and developments. Maintains functional and regulatory expertise specific to business group, and refers to Compliance Policies & Procedures manuals for requirements. Contributes to business/group results by providing oversight and making recommendations that significantly impact the Bank’s ability to monitor regulatory compliance programs, minimize operational risk and align with regulatory agencies.

  • Provides advice and guidance to assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.

  • Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.

  • Influences to achieve effective regulatory compliance controls that enable business objectives.

  • Identifies and advises on emerging issues and trends to inform decision-making.

  • Helps determine business priorities and best sequence for execution of business/group strategy.

  • Builds effective professional relationships with business group, internal/external stakeholders and trust with regulators.

  • Analyses and reports on compliance data, and related data to gain insights on regulatory risk.

  • Oversees the development and maintenance of guidelines and procedures, providing advice/rulings as necessary, for a single function within a geographic area.

  • Participates in the design, implementation and management of core business/group processes.

  • Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.

  • Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.

  • Supports root cause analysis in response to material control failures in business/group.

  • Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation.

  • Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.

  • Analyzes and reports compliance information to Compliance and business/group management.

  • Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.

  • Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations.

  • Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.

  • Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to material control failures in business/group.

  • Identifies, assesses, effectively challenges and provides oversight on the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.

  • Analyzes and reports compliance information to Compliance and business/group management.

  • Advises first line of defense management and employees on compliance matters.

  • Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.

  • Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.

  • Identifies enhancements to business group compliance tools and processes and communicates to required stakeholders.

  • Assists business group management in communicating and implementing changes to applicable regulatory policies and procedures.

  • Represents the business/group Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations.

  • Provides regulatory perspective on business group’s sales and marketing materials.

  • Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.

  • Builds effective professional relationships with business/groups.

  • Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.

  • Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.

  • Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.

  • Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.

  • Provides specialized consulting, analytical and technical support.

  • Exercises judgment to identify, diagnose, and solve problems within given rules.

  • Works independently and regularly handles non-routine situations.

  • Broader work or accountabilities may be assigned as needed.

Qualifications:

  • Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

  • Recognized compliance certificate or equivalent preferred.

  • Detailed knowledge of consumer protection regulations and related marketing and advertising guidelines.

  • Detailed knowledge and understanding of Wealth Management's key products and services, processes and controls

  • Knowledge and experience using relevant systems and technology

  • Skilled knowledge of regulatory/ compliance requirements and the operations of a single client group.

  • May require experience at regulatory body for one or more compliance area(s).

  • Strong communication, critical thinking, relationship management and project management skills.

  • Deep knowledge and technical proficiency gained through extensive education and business experience.

  • Verbal & written communication skills - In-depth.

  • Collaboration & team skills - In-depth.

  • Analytical and problem solving skills - In-depth.

  • Influence skills - In-depth.

  • Data driven decision making - In-depth.

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/ca/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. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.

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