Vice President, Capital Markets Conduct Risk Management

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BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

The VP, Capital Markets Conduct Risk Management, is a member of the Regulatory Portfolio team within Capital Markets Supervision & Governance (CMSG). This role is specifically responsible for overseeing Capital Markets conduct risk framework and related activities. The VP is also accountable for helping to promote an inherent culture of risk management across Capital Markets.

CMSG is responsible for directing, leading, and operating the First Line of Defense’s Operating Group Compliance Program (OGCP). The OGCP is the system of policies, processes and controls established by the First Line of Defense to achieve and sustain risk-based compliance with applicable laws and regulatory requirements, and to ensure that the First Line of Defense responsibilities outlined in the Legal Regulatory Compliance Risk Management (LRCRM) Policy, the Enterprise Compliance Program, and the Global Compliance Manual (GCM) and supporting operating guidelines are met. 

KEY ACCOUNTABILITIES

The VP will collaborate with Lines of Business, Risk Partners, and Compliance to review and validate conduct risk frameworks, metrics, and dashboards, documenting findings. Additional responsibilities include maintaining strong regulatory knowledge, overseeing Risk and Control Self-Assessments (RCSA), and ensuring effective first line of defense monitoring protocols for capital markets products and personnel.

Responsibilities include:

• Develop and Implement Conduct Risk Frameworks: Design and implement conduct risk frameworks and policies to ensure compliance with regulatory standards and internal policies.
• Risk Assessment and Monitoring: Conduct regular risk assessments and monitoring activities to identify, assess, and mitigate conduct risks within the capital markets division.
• Regulatory Compliance: Ensure that the organization is in compliance with all relevant regulatory requirements related to conduct risk. Stay updated on changes in regulations and ensure timely implementation of necessary changes.
• Stakeholder Collaboration: Work closely with senior management, legal, compliance, and other relevant stakeholders to promote a culture of integrity and accountability.
• Training and Awareness: Develop and deliver training programs to enhance awareness and understanding of conduct risk among employees.
• Incident Management: Lead investigations into conduct-related incidents, ensuring that root causes are identified, and appropriate corrective actions are taken.
• Reporting and Communication: Prepare and present reports on conduct risk issues to senior management and the board of directors, providing insights and recommendations for improvement.
• Benchmarking and Best Practices: Stay informed about industry best practices and trends in conduct risk management and incorporate them into the organization's risk management strategies.
• Leadership and Team Management: Lead and manage a team of conduct risk professionals, providing guidance, support, and development opportunities.
• Continuous Improvement: Drive continuous improvement initiatives to enhance the effectiveness and efficiency of conduct risk management processes.

KNOWLEDGE, SKILLS & REQUIREMENTS:

• 5+ years of strategy, compliance, regulatory, conduct risk or business risk management experience.
• Strong product knowledge and understanding of capital markets activities, risk taxonomies and applicable regulations surrounding them.
• Knowledge of the Broker Dealer and Banking Regulations, which include but not limited to SEC, FINRA, OCC, FRB, NFA and CFTC.
• Demonstrated analytical, auditing, writing, communications, and presentation skills.
• Strong collaborative skills
• Excellent Excel spreadsheet manipulation and data analytic skills; familiarity with PowerBI, Python and other programming scripts skills a plus
• Strong relationship management skills: ability to establish and manage multiple stakeholder relationships with the business, within the three lines of defense and with corporate support functions.
• Proven project management capabilities and an ability to co-ordinate the efforts of people and resources not under their direct control
• Ability to read technical compliance material and distil the applicability of the regulations to respective business unit(s)
• Ability to deal with sensitive issues with tact and discretion.
• Excellent judgment and interpersonal skills, who can consult, influence, collaborate, and appropriately escalate issues.
• Strong analytical skills – analyze the evidence collected on remediated controls and determine if there is substantive conformance with requirements.
• Ability to communicate questions and requests in a professional and clear manner.
• Operate effectively within a demanding environment with constant regulatory and audit scrutiny.
• Ability to work independently, multitask efficiently and effectively, and meet tight deadlines.
• Advanced educational degree is desirable – MBA, CPA, or JD.

LOCATION

Required Location in Canada: Toronto

COMPENSATION

This position is important for the future of the organization and offers an overall competitive compensation mix including base salary and incentive pay.

PRIVACY

At BMO Financial Group your privacy is our priority. Our Privacy Code outlines our commitment to you and is designed to comply with applicable Privacy legislation in Canada. To view a copy of the Bank’s privacy policy please visit our website at http://www.bmo.com, scroll to the bottom of the page and click on the Privacy link.

The salary range for this role is $90,000 up to $130,000 CAD (subject to the candidate meeting the specific skills, experience, education, and qualification requirements)

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.