Senior Compliance Officer – Compliance Advisory

  • Company:
    BMO Harris Bank
  • Location:
  • Salary:
    negotiable / monthly
  • Job type:
    Full-Time
  • Posted:
    3 weeks ago
  • Category:
    Business / Mgmt

MANDATE The Senior Compliance Officer accountable for identifying areas of regulatory, financial and reputational risk and providing advice and opinions to reduce or eliminate risk associated with regulatory initiatives, while keeping the client experience at the forefront. This role involves liaising with our securities regulators, internal and external Legal counsel, Executive Office, Ombudsman and various levels of senior management. The senior Compliance Officer is responsible for providing subject matter expertise relating to existing securities compliance rules, regulations and internal policies and procedures. This role will also support the development of business strategies and provide recommendations with respect to regulatory compliance regulations and risk management for short and long term strategies and future direction/opportunities (3-5 years). The Senior Compliance Officer is also accountable support for Enterprise Compliance Program and assisting in the overall management of regulatory compliance and risk management for the business. ACCOUNTABILITIES A. Policy and Regulatory Development Provide guidance and support to Business Units, Sales, Marketing and Operations in meeting regulatory requirements and following internal policies and procedures. Provide constructive input with regard to new products and initiatives from a regulatory perspective. Identify gaps in policies and procedures which may have a regulatory impact and participate in the formulation of new policies and procedures to meet changes to industry rules and regulations. Lead working groups on implementation of new policies and procedures. Participate in internal as well as industry meetings and/or subcommittees, especially those which involve new rules, regulations or initiatives that will affect the Policy and Procedures of Nesbitt and InvestorLine. Involvement will require developing a detailed knowledge of the issue(s) in question and existing processes. Quarterly and monthly reporting and analysis of trends. The process will include a regular review with recommendations for improvement Ensure effective reporting structure and processes are in place to identify risks and/or gaps that need to be mitigated. This includes an assessment of both internal and quality controls. Communication and education on new policies and procedures B. Enterprise Compliance Program Act as a primary back up to Director – Compliance Advisory Team. Provide support to the Director – Compliance Advisory Team and Chief Compliance Officer – NB to ensure the line of business is mitigating risk based on the risk assessment Ensure Compliance issues are recorded and followed up on a timely basis Work with the Branch Audit group to develop Monitoring and Testing controls Provide reporting and rationale for senior management C. Retail Investment Compliance Subject Matter Expert Act as subject matter expert on securities regulations that apply; Advise on regulatory compliance; and Act as relationship manager with applicable securities regulatory and or SRO. AUTHORITIES To deliver on these accountabilities, the incumbent must have the following authorities: Advisory – This role provides advice and counsel to colleagues on all compliance issues. Monitoring – This role has the authority to collect or be provided with requirement information from others when reviewing and reporting on all compliance requests and audits. Auditing authority in examining whether programs and products meet the regulator compliance requirements and needs of the business. Recommending – This role has the authority to recommend policy changes, procedural changes and standards with respect to regulatory compliance requirements in order to meet business objectives and or enhance business procedures. Veto – The team has the authority to say no and stop something from happening with customer information if it violates privacy or could create a reputational risk. CROSS-FUNCTIONAL RELATIONSHIPS This job requires the incumbent to interact with the following processes and/or groups in BMO WM: Work jointly with peers in BMO InvestorLine, BMO Nesbitt Burns, BMO Capital Markets and various other Compliance groups. Interact with senior management of the organization and external regulatory officials which will require exceptional communication and negotiation skills in order to advance the incumbent’s original thoughts and ideas. Interacting with various external associations including Investment Industry Regulatory Organization of Canada (IIROC), Canadian Securities Institute, OSC, may be required. MANDATE The Senior Compliance Officer accountable for identifying areas of regulatory, financial and reputational risk and providing advice and opinions to reduce or eliminate risk associated with regulatory initiatives, while keeping the client experience at the forefront. This role involves liaising with our securities regulators, internal and external Legal counsel, Executive Office, Ombudsman and various levels of senior management. The senior Compliance Officer is responsible for providing subject matter expertise relating to existing securities compliance rules, regulations and internal policies and procedures. This role will also support the development of business strategies and provide recommendations with respect to regulatory compliance regulations and risk management for short and long term strategies and future direction/opportunities (3-5 years). The Senior Compliance Officer is also accountable support for Enterprise Compliance Program and assisting in the overall management of regulatory compliance and risk management for the business. ACCOUNTABILITIES A. Policy and Regulatory Development Provide guidance and support to Business Units, Sales, Marketing and Operations in meeting regulatory requirements and following internal policies and procedures. Provide constructive input with regard to new products and initiatives from a regulatory perspective. Identify gaps in policies and procedures which may have a regulatory impact and participate in the formulation of new policies and procedures to meet changes to industry rules and regulations. Lead working groups on implementation of new policies and procedures. Participate in internal as well as industry meetings and/or subcommittees, especially those which involve new rules, regulations or initiatives that will affect the Policy and Procedures of Nesbitt and InvestorLine. Involvement will require developing a detailed knowledge of the issue(s) in question and existing processes. Quarterly and monthly reporting and analysis of trends. The process will include a regular review with recommendations for improvement Ensure effective reporting structure and processes are in place to identify risks and/or gaps that need to be mitigated. This includes an assessment of both internal and quality controls. Communication and education on new policies and procedures B. Enterprise Compliance Program Act as a primary back up to Director – Compliance Advisory Team. Provide support to the Director – Compliance Advisory Team and Chief Compliance Officer – NB to ensure the line of business is mitigating risk based on the risk assessment Ensure Compliance issues are recorded and followed up on a timely basis Work with the Branch Audit group to develop Monitoring and Testing controls Provide reporting and rationale for senior management C. Retail Investment Compliance Subject Matter Expert Act as subject matter expert on securities regulations that apply; Advise on regulatory compliance; and Act as relationship manager with applicable securities regulatory and or SRO. AUTHORITIES To deliver on these accountabilities, the incumbent must have the following authorities: Advisory – This role provides advice and counsel to colleagues on all compliance issues. Monitoring – This role has the authority to collect or be provided with requirement information from others when reviewing and reporting on all compliance requests and audits. Auditing authority in examining whether programs and products meet the regulator compliance requirements and needs of the business. Recommending – This role has the authority to recommend policy changes, procedural changes and standards with respect to regulatory compliance requirements in order to meet business objectives and or enhance business procedures. Veto – The team has the authority to say no and stop something from happening with customer information if it violates privacy or could create a reputational risk. CROSS-FUNCTIONAL RELATIONSHIPS This job requires the incumbent to interact with the following processes and/or groups in BMO WM: Work jointly with peers in BMO InvestorLine, BMO Nesbitt Burns, BMO Capital Markets and various other Compliance groups. Interact with senior management of the organization and external regulatory officials which will require exceptional communication and negotiation skills in order to advance the incumbent’s original thoughts and ideas. Interacting with various external associations including Investment Industry Regulatory Organization of Canada (IIROC), Canadian Securities Institute, OSC, may be required. KNOWLEDGE AND SKILLS Exceptional knowledge of Canadian Securities Industry and be able to apply that knowledge to BMO NB and BMOIL internal processes Well organized with strong written and communication skills Able to recognize and handle sensitive and confidential information Exceptional interpersonal, analytical and interpretive skills Customer focused Leadership: The BMO Way Expert (model customer focused behaviors) Consultative Value Added Advisor to Employee (the “coach/mentor”): Sound interpersonal and communications skills Solution oriented: Ability to identify risks and implement appropriate actions to mitigate them Strong Performance Management orientation Capable of handling multiple tasks and meet stringent deadlines Post-secondary education required/LLB an asset CSC/CCO /PDO other industry courses and other CSI Courses an asset 4 years’ experience in a financial or securities industry compliance division WORKING CONDITIONS A bility to work in high stress, fast-paced and changing environment Manage numerous demands for resources that need to be prioritized within tight timelines. We’re here to help At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank. 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://bmocareers.com . 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. KNOWLEDGE AND SKILLS Exceptional knowledge of Canadian Securities Industry and be able to apply that knowledge to BMO NB and BMOIL internal processes Well organized with strong written and communication skills Able to recognize and handle sensitive and confidential information Exceptional interpersonal, analytical and interpretive skills Customer focused Leadership: The BMO Way Expert (model customer focused behaviors) Consultative Value Added Advisor to Employee (the “coach/mentor”): Sound interpersonal and communications skills Solution oriented: Ability to identify risks and implement appropriate actions to mitigate them Strong Performance Management orientation Capable of handling multiple tasks and meet stringent deadlines Post-secondary education required/LLB an asset CSC/CCO /PDO other industry courses and other CSI Courses an asset 4 years’ experience in a financial or securities industry compliance division WORKING CONDITIONS A bility to work in high stress, fast-paced and changing environment Manage numerous demands for resources that need to be prioritized within tight timelines. We’re here to help At BMO we have a shared purpose; we put the customer at the centre of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank. 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://bmocareers.com . 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. ComplianceComplianceCanada-Ontario-TorontoCanada-Ontario-TorontoLCCG-X000076LCCG-X000076full-timefull-time10/11/1810/11/18OngoingOngoing