The Senior Compliance Officer, Volcker Rule Compliance Office plays an important role in the day-to-day running of the Enterprise Volcker Rule Compliance Office (VCO). This position assists in the effective maintenance of the Enterprise Volcker Rule Compliance Program (VCP) including the VCP governance structure and Enterprise programs, annual Volcker Rule training, and operating directives and procedures. This position supports all lines of business globally.

This position can be in Chicago, Toronto or remote.

Assists in the implementation, maintenance and administration of a specific compliance program. Analyses risk assessment, monitoring, testing and surveillance activities outcomes 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, 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.

• Provides advice and guidance to various lines of business 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.

• Influences to achieve effective regulatory compliance controls that enable business objectives.

• Identifies and advises on emerging issues and trends to inform decision-making.

• Helps determine business priorities and best sequence for execution of business/group strategy.

• Builds effective professional relationships with business groups, internal/external stakeholders and trust with regulators.

• Analyses and reports on compliance data, and related data to gain insights on regulatory risk.

• Oversees the development and maintenance of guidelines and procedures, providing advice/rulings as necessary.

• Participates in the design, implementation and management of core business/group processes.

• 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 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 regulatory expertise.

• Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations.

• Advises first line of defense management and employees on compliance matters.

• Ascertains training needs and helps develop training.

• 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.

• Interacts with examiners/auditors during internal, external and regulatory audits and examinations.

• Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.

• Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.

• Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.

• Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.

• Enterprise-wide focus.

• Provides specialized consulting, analytical and technical support.

• Exercises judgment to identify, diagnose, and solve problems within given rules.

• Works independently and regularly handles non-routine situations.

• Broader work or accountabilities may be assigned as needed.

Qualifications:

• Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

• Recognized compliance certificate or equivalent preferred.

• Skilled knowledge of regulatory/ compliance requirements

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

• Strong communication, critical thinking, relationship management and project management skills.

• Deep knowledge and technical proficiency gained through extensive education and business experience.

• Strong organizational skills – In-depth

• 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.

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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.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.