BMO Financial Group Technology Compliance Specialist in Toronto, Ontario
6 King Street West
Job Family Group:
Audit, Risk & Compliance
Must Have: Technology Compliance, GRC
BMO has anchored its future ambition on the use of Data and Analytics across the Bank. In their current mandate, the Data and Analytics team (DnA), under the leadership of the Enterprise Chief Data and Analytics Officer is accountable for developing the broader strategy for DnA along with capabilities in support of the efforts of the Bank.
These efforts begin with active engagement with each Group/Service through Business leaders, Digital/Technology leaders and DnA leaders; partnering with the Group/Service to evaluate and elevate their Data and Analytics practices, ideation on new opportunities to utilize Data and Analytics and execution through a partnership model to deliver measurable value while operating within a strong risk management framework.
Reporting to the DnA Business Manager, the Compliance Specialist will assist 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 BMO Compliance Program. Works with the Group/Service and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Advises DnA on implications of new regulatory developments 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.
Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.
Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to DnA.
Provides input on emerging risks, regulatory developments and interpretation of regulations.
Conducts and/or effectively challenges risk assessments for DnA 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 DnA.
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 DnA management for prompt resolution.
Analyzes and reports compliance information to Compliance and DnA management.
Advises first line of defense management and employees on compliance matters.
Consults on new 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 DnA Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations.
Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.
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.
5+ years of relevant experience in Technology and Compliance for Technology and postsecondary degree in related field of study or an equivalent combination of education and experience.
Skilled knowledge of regulatory/ compliance requirements.
Very good knowledge of incident management cycle in technology and good technology acumen
Knowledge of compliance and risk tracking platforms i.e. GRC
Strong communication, critical thinking, relationship management and project management skills.
Consultative leadership mindset, analytical, and thrive at and enjoy problem-solving.
Deep knowledge and technical proficiency gained through extensive education and business experience.
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.