Compliance Officer, Global Markets Compliance

BMO•New York, NY

1d•$63,300 - $117,200•Hybrid

About The Position

Our team is a growing Fixed Income, Currencies, and Commodities (“FICC”) Compliance group in New York, with this role focused on Swap Dealer and Security-Based Swap Dealer requirements and corresponding oversight. We seek a candidate to work closely with the relevant Lines of Businesses and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Additionally, part of the role will require you to stay current on regulatory requirements and developments, monitor risk/trade surveillance, and identify and correct possible gaps and weaknesses. The ideal candidate will support the implementation, maintenance and administration of the Swap Dealer and Security-Based Swap Dealer compliance program. Coordinate and perform risk assessment, monitoring, testing and surveillance activities to ensure the program remains aligned with BMO’s Compliance Program. This role will partner with business lines and internal groups to meet regulatory, corporate and fiduciary obligations. You will advise on new regulatory developments, internal products, and revise policies and controls. Identify risks and mitigate them. Develop and maintain compliance information for analysis and reporting. The role also contributes to the business by providing oversight and recommendations that enhance compliance monitoring, reduce risk, and align with regulatory rules. Additionally, the ideal candidate will: Provide advice and guidance to business lines on implementing solutions aligned to regulatory risk appetite and business needs. Consult on new products, services and automated systems to ensure compliance requirements are incorporated. Ensure effective compliance controls that support business objectives and identify enhancements to tools and processes. Monitor emerging risks, issues, and regulatory developments, providing insights to inform decision-making. Build and maintain strong relationships with internal stakeholders and regulators. Conduct and challenge risk assessments and perform or oversee monitoring and testing to ensure controls are effective and aligned with requirements, and ascertain/develop training based on identified gaps. Identify, assess, and oversee resolution of compliance issues, including root cause analysis, remediation plans, validation, and escalation of material concerns. Analyze and report compliance data and risk insights to management. Maintain expertise in applicable regulations and provide interpretive guidance to the business Advise first line of defense on compliance matters and reinforce the three lines of defense framework. Represents the business/group Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations. Operate independently to assess risk, solve problems, and manage non-routine situations in a dynamic, high-pressure environment.

Requirements

Strong knowledge of applicable Swap Dealer and Security-Based Swap Dealer (“SD” and “SBSD”) laws, rules and regulations with the ability to assess firm impact.
Firm understanding of business operations & procedures, and activities involving documented practices associated with SD and SBSD activities.
Typically, minimum of 3-5 years of relevant experience, or an equivalent combination of education and experience including post-secondary degree.
Strong communication, critical thinking, relationship management and project management skills.
Deep knowledge and technical proficiency gained through extensive education and business experience.
Strong verbal & written communication skills.
Collaboration, team skills, and ability to constructively influence is highly valued.
Deep analytical and problem-solving skills.
Data-driven decision making is valued.

Nice To Haves

Recognized compliance certificate or equivalent preferred, with SIE, Series 7, 63 considered a plus.
Prior experience with a regulatory entity or SRO is a plus but not required (e.g. NFA, FINRA, SEC, etc..).

Responsibilities

Support the implementation, maintenance and administration of the Swap Dealer and Security-Based Swap Dealer compliance program.
Coordinate and perform risk assessment, monitoring, testing and surveillance activities to ensure the program remains aligned with BMO’s Compliance Program.
Partner with business lines and internal groups to meet regulatory, corporate and fiduciary obligations.
Advise on new regulatory developments, internal products, and revise policies and controls.
Identify risks and mitigate them.
Develop and maintain compliance information for analysis and reporting.
Provide oversight and recommendations that enhance compliance monitoring, reduce risk, and align with regulatory rules.
Provide advice and guidance to business lines on implementing solutions aligned to regulatory risk appetite and business needs.
Consult on new products, services and automated systems to ensure compliance requirements are incorporated.
Ensure effective compliance controls that support business objectives and identify enhancements to tools and processes.
Monitor emerging risks, issues, and regulatory developments, providing insights to inform decision-making.
Build and maintain strong relationships with internal stakeholders and regulators.
Conduct and challenge risk assessments and perform or oversee monitoring and testing to ensure controls are effective and aligned with requirements, and ascertain/develop training based on identified gaps.
Identify, assess, and oversee resolution of compliance issues, including root cause analysis, remediation plans, validation, and escalation of material concerns.
Analyze and report compliance data and risk insights to management.
Maintain expertise in applicable regulations and provide interpretive guidance to the business.
Advise first line of defense on compliance matters and reinforce the three lines of defense framework.
Represent the business/group Compliance team and interact with examiners/auditors during internal, external and regulatory audits and examinations.
Operate independently to assess risk, solve problems, and manage non-routine situations in a dynamic, high-pressure environment.