Senior Compliance Officer - Operations Compliance

Address:

Reporting into the Director, Trade Surveillance, this role will be responsible for:

Providing expert regulatory compliance support, guidance and advice to Capital Markets International Operations (CMIO) group in support of the Enterprise Compliance Program (ECP). Contributing to the sound and efficient execution of Capital Markets Operations by improving the understanding and execution of the regulatory and risk requirements in accordance with the Enterprise Compliance Program and specific compliance controls. Partnering with the First Line Business Unit Compliance Officer (BUCO) team and the Second Line Trade Surveillance team to ensure the Operations group is supported in meeting regulatory expectations and internal policy requirements by:

Integration of Business Complexities with ECP Framework - Have expert knowledge and understanding of the Business Unit’s product line and process to support the various elements of the enterprise frameworks, including risk assessments, monitoring and testing obligations, issue management and management reporting. The incumbent also ensures the effective rule interpretation and exercises due diligence in providing support across Capital Markets operations supporting broker dealer LOBs in Canada.
 

Relationship Management – liaise with various levels of management across Operations, 1st Line of Defense, various lines of business, Legal, internal 3rd Line of Defense, and external regulatory audit functions.
 

Change Management - support and advise CMIO on regulations, regulatory changes, new business initiatives, and the implementation of a new governance, risk and compliance application and methodology.
 

Monitoring & Controls – this role will support CMIO in their accountabilities to maintain their controls documented in the controls library, perform monitoring tests, and provide effective challenge on monitoring controls test results.
 

Issues – this role will support CMIO in their accountabilities to identify, document, maintain, and remediate Issues in the Issues Management module. The incumbent will be responsible for follow-up and escalating Issues requiring action and remediation.

Key Accountabilities

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• 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.

• Compliance certificate or equivalent preferred.

• Strong knowledge of regulatory requirements, consumer protection regulations, and compliance operations within financial services.

• Experience with regulatory bodies an asset.

• Demonstrated strength in communication, critical thinking, relationship management, and project management.

• Advanced analytical, problem-solving, influence, and data-driven decision-making skills.

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 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/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.

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.