Compliance Officer, Control Room

BMO•Chicago, IL

2d•Hybrid

About The Position

The Compliance team is responsible for proactive identification and timely resolution of regulatory compliance issues. As a compliance officer yo will assist our employees to understand the regulatory risk and compliance requirements to sustain effective regulatory risk management. In this hybrid role, you will get the opportunity and the exposure to work with key contacts in investment banking at all levels. Additionally, you will: Work with group leadership to ensure effective handling and administration of business activities. Impact the development of business opportunities for Investment & Corporate Banking professionals. Ensure that business opportunities do not pose undue risk to the company in a timely manner that meets the needs of the business. Protect the organization from potential reputation risk issues. The compliance officer will be a fundamental contributor to the successful management of the Firms Insider and Proprietary information. You will become part of a global team responsible for supporting the US Investment Banking and Research teams. You will be responsible for monitoring and enforcing information barriers between public and private sides of the business and will assist with development of policies and procedures to ensure the effective practices to contain sensitive or material non-public information. The position is ideal for a candidate who wants to demonstrate strong critical thinking and the ability to apply subjective judgement under circumstances of imperfect information. Frequent contact with Business professionals is a fundamental aspect of the role, and so the opportunity to develop meaningful relationships with business partners and other stakeholders will be critical to success. The control room operates in high pressure time sensitive environment. Demonstration of tact, discretion and composure will also be key success factors.

Requirements

Typically between 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Proficient knowledge of consumer protection and related marketing and advertising guidelines.
Proficient level of knowledge of a compliance field.
Strong knowledge of business operations & procedures, and activities involving documented practices.
Proficient in communication, critical thinking, relationship management and project management skills.
Technical proficiency gained through education and/or business experience.
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.

Nice To Haves

Recognized compliance certificate or equivalent preferred.

Responsibilities

Assists in the implementation, maintenance and administration of a specific compliance program.
Coordinates and performs risk assessment, monitoring, testing and surveillance activities 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 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.
Provides advice and guidance to assigned business/group on implementation of solutions to manage regulatory risk based on an understanding of business operations and stakeholder needs.
Builds effective professional relationships with business line, other internal/external stakeholders and regulators on the initial stages of investigations.
Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
Performs and/or effectively challenges monitoring and testing activities to ensure compliance 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.
Analyses and reports compliance information to Compliance and business/group management.
Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations.
Conducts and/or effectively challenges risk assessments for business/group and 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 provides oversight on 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.
Advises first line of defense management and employees on compliance matters.
Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.
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.
Represents the business/group Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations.
Provides regulatory perspective on business group’s sales and marketing materials.
Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.
Builds effective professional relationships with business/groups.
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.
Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently on a range of complex tasks, which may include unique situations.
Broader work or accountabilities may be assigned as needed.