BMO Financial Group Vice President, Regulatory Transformation in Toronto, Ontario
100 King Street West
Job Family Group:
Regulatory Transformation (RT) serves as Delegated Owners for Capital Markets change (change the bank), with a core focus on “Detect” activities with “Design/Execute” being centralized under the CIOO function. Working directly with the Director – Regulatory Transformation supporting Business Compliance this role is responsible for monitoring, assessing, communicating and assisting Capital Markets Lines of Business to prepare for new and changing regulatory requirements.
As a Vice President on the RT team, you will contribute to regulatory changes. In this collaborative and dynamic culture there are exciting opportunities to learn about all areas of Capital Markets. Members of the team enjoy advancement as they grow and develop. Come be a part of a bank that defines great customer experience.
Responsibilities and Duties Reporting into Director, CM RT, this role will be responsible for:
Monitoring for legislative and regulatory changes and the regulatory environment applicable to BMO Capital Markets;
Assessing the potential impact of the legislative/regulatory change to Capital Markets and communicating a summary of the same to stakeholders;
Actively participating in the relevant Regulatory Development Committee(s), including
Presenting the regulatory change/proposed amendment to members of the Committee and the potential impact to the Bank;
Recommending the potential course of action the Bank should adopt (e.g. change in processes, new policies/procedures…etc.);
Tracking positions taken by the members of the Committee and document the action(s) taken by the Bank;
Once the impact assessment is completed and the proposed new rule or amendment is finalized, assist with the transition of the preliminary plan to address the rule/amendment
Working closely with all Capital Markets Lines of Business, and the Legal and Regulatory Compliance Group, who carries out the Second Line of Defense mandate of independent oversight and effective challenge.
Provide advice to the Lines of Business on potential regulatory changes and emerging regulatory trends;
Leading the Requests for Comments response process to regulators on behalf of BMO Capital Markets First Line by:
Meeting with affected and interested stakeholders in the LOBs (including the BUCOs) to ensure BMO Capital Markets’ views are reflected in the response;
Liaising with the Legal and Compliance Groups to capture the Legal, Corporate & Compliance Group’s view are captured; and
Drafting the response on behalf of BMO Capital Markets where applicable and obtaining the required approvals before providing the response to the regulator.
Assist with management reporting on regulatory development matters where required.
Qualifications and Skills
The ideal candidate will be a self-starter, industrious, pragmatic-yet strategic, and able to achieve results with indirect authority. He/she should be comfortable working in a virtual environment with team members & stakeholders located across the globe. The candidate will be a strong team player capable of building strong relationships. He/she should have superior communication skills, both verbal and written, and excel in their ability to explain complex business and/or technical concepts to stakeholders across a wide spectrum of business areas.
7+ years of relevant business experience, preferably in Capital Markets
J.D. or equivalent preferred
Ability to process complex legislative/regulatory matters and apply it operationally.
A strong knowledge of financial instruments, ranging from derivative products to foreign exchange
An understanding of the Front Office financial product lifecycle: Origination, Primary Market Secondary Market and the associated business activities such as Settlements, Risk Management, Operations & Accounting
Strong understanding of market, credit, and operational risk
Working knowledge and expertise using software, such as Microsoft Project, MS Visio, MS PowerPoint, MS Excel, MS Word, SharePoint
Experience managing resources in a project setting
Excellent project management skills.
Ability to work with various jurisdictional regulations. Soft Skills
Excellent oral and written communication skills.
Excellent presentation, writing and analytical skills; able to understand and communicate industry rules and regulations effectively to employees at all levels of the business.
Strong interpersonal skills; demonstrated ability to drive consensus across business groups and deal with challenging situations at all levels of the business in a resilient, confident and practical manner.
Excellent problem-solving skills.
Demonstrated success of obtaining results in a complex global organization, including evidencing the ability to influence others.
Familiarity with risk management principles and philosophies.
Self-motivated and well-organized.
Able to prioritize tasks and work well under pressure.
Nice to Have’s
Experience in handling regulatory compliance rules required by key Canadian regulators (OSFI, CSA, IIROC)
Project management certifications and / or equivalent 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.