Sr. Compliance Officer

Sr. Compliance Officer

Requirements

• 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.
• 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.

Responsibilities

• 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 BMO 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.

Preferred Qualifications

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