Senior Manager – Sanctions Compliance

Senior Manager – Sanctions Compliance

Requirements

• Typically 8+ years of relevant experience and a 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.
• Strong communication, critical thinking, relationship management and project management skills.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills – In-depth / Expert.
• Analytical and problem solving skills – In-depth / Expert.
• Influence skills – In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration – In-depth / Expert.
• Able to manage ambiguity.
• Data driven decision making – In-depth / Expert.

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.
• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
• Ensures alignment between values and behaviour that fosters diversity and inclusion.
• Regularly connects work to BMO’s purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attracts, retains, and enables the career development of top talent.
• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
• Provides advice and influences 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.
• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
• Acts as a subject matter expert on relevant regulations and policies.
• May network with industry contacts to gain competitive insights and best practices.
• Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
• Builds effective professional relationships with business group, internal/external stakeholders and trust with regulators.
• Analyses/reviews and reports compliance data and associated data to Compliance and business/group management.
• Leads/participates in the design, implementation and management of core business/group processes.
• Oversees the implementation, maintenance and monitoring/ reporting of all policies, guidelines, procedures and compliance programs, provides advice/rulings as necessary, for one or multiple complex function(s)/activity(ies).
• Effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
• Effectively challenges monitoring and testing activities to ensure compliance controls are operating and aligned to regulatory requirements.
• 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.
• Advises first line of defense management and employees on compliance matters.
• 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.
• Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.
• Operates at a group/enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Implements changes in response to shifting trends.

Preferred Qualifications

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