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Senior Manager, Compliance

BMO Financial Group

This is a Contract position in Toronto, ON posted October 30, 2021.

Address:

100 King Street West

Job Family Group:

Business Management

This position is a key leadership position that has a critical regulatory mandate reporting directly to the Head, Compliance, Monitoring & Testing, (M&T), Wealth Management.  The Senior Manager Compliance Strategic Initiatives is accountable for enhancing the implementation of the Enterprise Compliance Program (ECP) and driving the alignment of the testing plans across all Wealth Management lines of business in both Canada and the US. 

This role will work with the Monitoring & Testing, Compliance Advisory, and 2nd Line Compliance teams across Wealth North America in support of the First Line of Defense’s Operating Group Compliance Program (“OGCP”). The role will continue to build, implement, and enhance the Compliance framework aligned to Enterprise Policies.

An OGCP is the system of policies, processes and controls established by the First Line of Defense to achieve and sustain its 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.

Role:

Lead monitoring & testing process transformation activities for the Wealth Management lines of business in both Canada and the US to ensure that the businesses in all jurisdictions are executing against the testing requirements of the enterprise compliance framework in the most efficient and effective manner.

Identify, design, build and optimize testing related processes across the Wealth Management lines of business.

Key accountabilities include:

  • Read, research, understand cross regulator, cross jurisdiction regulations
  • Understand Wealth (excluding Insurance) business processes across multiple entities across North American
  • Understand controls that support regulatory compliance
  • Understand ECP methodology
  • Access and update the enterprise compliance book of record GRCE  

Monitoring & Testing:

  • Execute testing of the Canadian Asset Management line of business, in accordance with the ECP
  • Execute testing controls and documentation of testing of other Wealth businesses
  • Ensure appropriate testing of compliance related controls across the Wealth Management lines of business.  
  • Identify opportunities to improve the effectiveness of compliance testing
  • Where possible, identify opportunities to align testing across businesses and across jurisdictions
  • Develop an annual and 4-year monitoring and testing plan for Asset Management
  • Drive alignment of the testing plans across the Wealth Management lines of business in both Canada and the US
  • Raise compliance and control related awareness with the businesses and provide appropriate advice and guidance to mitigate exposures and risk.
  • Understand the impact of new/changing regulations on compliance controls and design/re-design compliance testing
  • Communicate M&T identified issues to 1st Line businesses, 1st Line Compliance Advisory, 2nd Line Compliance
  • Remediate any monitoring and testing deficiencies identified by Corporate Audit, 2nd Line Compliance and/or regulators

Knowledge, Skills & experience assets:

  • Familiarity with Wealth regulatory requirements (e.g. OSC, IIROC, SEC, OCC, etc.)
  • Familiarity with Investment Funds (key regulations include NI 81-102, 81-107, etc.)
  • Experience in the planning and execution of testing (e.g. Audit, OSFI E-13, etc.)
  • Understanding of risk and controls
  • Change management

We’re here to help

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.

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