Compliance Specialist

Compliance Specialist

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.
• 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 the Commercial 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.
• Advises business/group on implementing solutions aligned with regulatory risk appetite, based on operational understanding and stakeholder needs.
• Serves as primary support for the Complaint Handling program.
• Consults on new products, services, and systems to embed compliance requirements.
• Influences the design of effective regulatory compliance controls that support business goals.
• Identifies emerging issues and trends to inform decision-making.
• Helps prioritize and sequence execution of business/group strategy.
• Builds strong relationships with internal/external stakeholders and regulators.
• Analyzes compliance and related data to identify regulatory risks.
• Oversees development and maintenance of guidelines and procedures for a specific function or region.
• Participates in designing and managing core business/group processes.
• Conducts and challenges risk assessments to improve compliance controls.
• Performs and reviews monitoring/testing to ensure controls meet regulatory standards.
• Supports root cause analysis for material control failures.
• Oversees issue resolution, including remediation planning and validation.
• Escalates high-profile risks to Compliance and business/group leadership.
• Reports compliance insights to Compliance and business/group management.
• Maintains expertise in applicable regulations and guidance.
• Advises on emerging risks and regulatory developments.
• Identifies training needs and supports development of targeted training.
• Recommends enhancements to compliance tools and processes.
• Assists in communicating and implementing regulatory policy changes.
• Represents Compliance in audits and regulatory examinations.
• Reviews sales and marketing materials for regulatory alignment.
• Anticipates and analyzes compliance gaps, recommending appropriate controls.
• Operates effectively under high-pressure, high-scrutiny environments.
• Monitors sensitive data to ensure regulatory compliance.
• Promotes understanding of the three lines of defense and proactively identifies risks.
• Provides specialized consulting, analysis, and technical support.
• Exercises sound judgment to resolve non-routine issues independently.
• May take on broader responsibilities as needed.

Preferred Qualifications

• Recognized compliance certificate or equivalent preferred.