Senior Compliance Officer, Complaints & Sales Practices, Canadian Personal & Business Banking

Compliance Specialist

Assists in the implementation, maintenance and administration of an enterprise compliance program (regulatory compliance) with a special focus on complaints, sales practices and distribution channels. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO's Enterprise Compliance Program methodology. 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.

Responsibilities include:

• Providing advice and guidance to assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.
• Influencing to achieve effective regulatory compliance controls that enable business objectives.
• Identifying and advising on emerging issues and trends to inform decision-making.
• Helping determine business priorities and best sequence for execution of business/group strategy.
• Building effective professional relationships with business group, internal/external stakeholders and trust with regulators.
• Analyzing and reporting on compliance data, and related data to gain insights on regulatory risk.
• Overseeing the development and maintenance of guidelines and procedures, providing advice/rulings as necessary, for a single function within a geographic area.
• Participating in the design, implementation and management of core business/group processes.
• Conducting and/or effectively challenging risk assessments for business/group and assisting to identify more effective compliance controls.
• Performing and/or effectively challenging monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.
• Supporting root cause analysis in response to material control failures in business/group.
• Identifying, assessing, effectively challenging and overseeing the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation.
• Elevating high profile issues/risk cases to Compliance and business/group management for prompt resolution.
• Analyzing and reporting compliance information to Compliance and business/group management.
• Developing and maintaining a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
• Providing input to business/group on emerging risks, regulatory developments and interpretation of regulations.
• Advising first line of defense management and employees on compliance matters.
• Consulting on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
• Ascertaining training needs and helping develop training based on gaps identified through the compliance monitoring and testing.
• Identifying enhancements to business group compliance tools and processes and communicating to required stakeholders.
• Assisting business group management in communicating and implementing changes to applicable regulatory policies and procedures.
• Representing the business/group Compliance team and interacting with examiners/auditors during internal, external and regulatory audits and examinations.
• Providing regulatory perspective on business group's sales and marketing materials.
• Anticipating/identifying and analyzing risk and consequences of unaddressed risk factors/compliance gaps, and recommending appropriate controls.
• Operating effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
• Accessing, monitoring and reporting on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
• Communicating the roles and importance of each of the three lines of defense, and proactively identifying regulatory risk.
• Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
• Providing specialized consulting, analytical and technical support.
• Exercising judgment to identify, diagnose, and solve problems within given rules.
• Working independently and regularly handling non-routine situations.
• Broader work or accountabilities may be assigned as needed.

Qualifications include:

• Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and personal +/or business banking experience.
• Detailed knowledge of consumer protection regulations and 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.
• Experience at regulatory body for one or more compliance area(s) is an asset.
• Recognized compliance certificate or equivalent is an asset.
• 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.

Salary: $75,900.00 - $141,900.00

Pay Type: Salaried

The above represents BMO Financial Group's pay range and type. Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group's expected target for the first year in this position.

BMO Financial Group's total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans.

About Us

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.

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.