Manager, Business Compliance
Job Description
Description
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General: This role provides regulatory compliance advice and direction to the supported Wealth businesses. Specifically, it interprets regulations, offers advice on regulatory requirements’ application to business processes and controls. The individual is the designated subject matter expert for 1st Line compliance supporting the business.
This position also leads and supports the implementation and execution of the Enterprise Compliance Program (ECP), advising Line of Business (LOB) management on implications of new/changing regulatory requirements on products, processes, and controls. It involves working with business/group leaders, 2nd Line Compliance, and Legal to maintain compliance programs aligned with BMO’s ECP.
The role manages/supports large/complex compliance programs, frameworks, projects, and initiatives to ensure risks are identified, assessed, mitigated, and regulations followed. It also executes compliance controls on behalf of the business. To succeed, the Compliance Specialist must have an in-depth understanding of the businesses, the ECP, and applicable regulatory requirements, including emerging ones.
Key Accountabilities:
Business Partner Engagement:
- Supports business leaders in implementing and maintaining 1st Line compliance programs.
- Maintains an inventory of regulations and controls in GRCE to ensure completeness and proper risk assessment.
- Develops understanding of business strategies, products, stakeholders, processes, and technology to manage compliance risks.
- Participates in reviews and updates of policies, processes, and controls to ensure regulatory compliance.
- Builds change management plans and leads or participates in related activities.
- Completes supplier compliance risk assessments.
Relationship Management:
Collaborates with stakeholders including Nesbitt Burns, InvestorLine, BPIC, Legal, and Compliance teams.
Regulatory Compliance Issue Management:
- Identifies, investigates, documents, and plans to mitigate risks, raising issues to senior leaders.
- Analyzes data to provide insights and recommendations.
- Supports the business in managing compliance issues, establishing action plans, monitoring remediation, and reporting to senior management.
Regulatory Compliance Risk Assessment (RCRA):
- Leads annual and trigger-based assessments across the enterprise.
- Documents rationales and discusses questions with oversight functions.
- Prepares separate assessments for specific regulations like Volcker, Privacy, and Anti-Corruption.
Policy and Procedure Support:
- Provides feedback on policies and participates in reviews related to regulatory requirements.
Conflicts of Interest:
Maintains the COI Log, reviews conflicts, and updates as regulatory and business changes occur.
Regulatory Development:
- Monitors industry and regulatory changes, assesses impact, and supports implementation.
Compliance Training:
- Supports development and delivery of training programs to increase awareness and understanding of compliance requirements.
Review Support:
- Supports investigations, reviews, and examinations, providing documentation and walkthroughs.
Business Specific Support:
BMO Nesbitt Burns, InvestorLine, BPIC – provides tailored compliance support and reporting.
Regulatory Knowledge:
Develops expertise in relevant regulations such as CIRO, UMIR, Privacy, and others.
Qualifications:
- Typically 5-7 years of relevant experience and a related post-secondary degree or equivalent.
- Additional certifications like Canadian Securities Courses are assets.
Skills:
- Excellent communication, presentation, analytical, and technical skills.
- Ability to build relationships, analyze problems, and exercise judgment independently.
- Proficiency with MS Office and program management skills.
Salary:
$69,000 – $129,000, with details on pay structure and benefits provided.
About Us:
BMO’s purpose is to create positive change and support growth. The company offers training, resources, and an inclusive workplace. More info at BMO Careers .
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Company
BMO
Location
Toronto
Country
Canada
Salary
100.000
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