Manager, Business Compliance

BMO•Toronto, ON

10d•Onsite

About The Position

This role executes First Line compliance monitoring, reporting, and control execution. It manages and supports large/complex compliance programs, frameworks, projects, and initiatives to ensure compliance risks are appropriately identified, risk-assessed, mitigated, and regulations are adhered to. The role supports the implementation of final laws, rules, and regulatory guidance within GAM Canada and supports business change by assessing the impact on regulatory compliance and associated monitoring.

Requirements

Typically, between 3-5 years of years or more experience in Asset Management performing a compliance-related function.
Post-secondary degree in related field of study or an equivalent combination of education and experience.
Advanced critical thinking with strong problem-solving abilities.
High attention to detail.
Understanding of regulatory compliance and its role within a broader risk management framework.
Knowledge of Charles River and/or other order management systems (e.g., Bloomberg, Aladdin, etc.).
Ability to multi-task, work independently to prioritize workload and meet deadlines.
Builds effective relationships with internal senior stakeholders, capable of collaborating and fostering relationships within the Business and with cross-functional working groups.
Strong verbal and written communication skills, and demonstrated ability to prepare concise, accurate reports for management.
Ability to present to senior management and management committees.
Strong computer skills using Microsoft Word, Excel, PowerPoint, and other standard database tools.
Strong project management and organizational skills.

Nice To Haves

Industry certification or designations would be an asset (CFA, MBA, or advanced degree).
In-depth knowledge of derivatives is an asset.

Responsibilities

Execute the Mandate Compliance function including automated pre and post trade alert/warning monitoring using the Charles River Order Management System.
Code mandate compliance rules associated with new and/or updated fund/account information.
Execute manual monitoring of regulatory and/or fund/account requirements.
Review annual prospectus renewal information and assess the impact of changes to the monitoring executed.
Manage and execute the personal trade monitoring program using the Personal Trading Application (PTA), including onboarding and offboarding GAM access persons, reviewing pre-clearance trade submissions and breaches, reviewing external broker statements, managing the annual certification of accounts, and providing quarterly reporting to the Chief Compliance Officer (CCO) and the Ultimate Designated Person (UDP) on violations and trading volumes.
Leverage information in the BMO Enterprise tool to review logged Gifts & Entertainment (G&E) to confirm compliance with limits and report instances where limits have been exceeded to the CCO and UDP.
Leverage methodology provided by GAM Product to conduct an annual fund liquidity ranking.
Leverage scenarios provided by GAM Product to execute annual stress tests and report results to GAM Product.
Provide regular TSX reporting required for BMO GAM ETFs.
Prepare Annual SEDAR 45-106 Filings for purchase transactions completed in the exempt market.
Support 2nd Line Compliance in the completion of the annual OSC Risk Assessment Questionnaire.
Work with the Institutional Client Service Team, Investment Team, and Traders to complete regular institutional client compliance certifications.
Facilitate the annual related registrant identification and filing as required.
Support business leaders in the effective implementation, maintenance, and administration of the 1st Line compliance program.
Work with other areas of the bank to plan and coordinate compliance-related activities including Portfolio Managers, Traders, Product, Operations, Sales & Distribution, Legal, and 2nd Line Compliance.
Work with the business to review and assess new business initiatives in terms of compliance-related matters/implications.
Support the business in terms of new/expanded use of derivatives, assessing the impact on regulatory compliance and associated monitoring.
Participate in committees (e.g., Product Oversight Committee) to understand business/product changes/development/launches and provide feedback and guidance on the associated impact on the regulatory and fund/account monitoring executed by the Mandate Compliance team.
Work with different business groups to understand the impact of regulatory change on their business; perform gap analysis to identify process changes required to comply with new requirements.
Assess the impact of business issues and regulatory reviews on Mandate Compliance processes and controls.
Report and remediate Compliance Issues currently impacting, or with the potential to impact, Mandate Compliance monitoring or control execution.
Prepare conflicts of interest related reporting (e.g., principal trading, interfund, related issuer, etc.) for 2nd Line Compliance review and presentation to the Investment Review Committee (IRC).
Demonstrate in-depth knowledge of OSC Investment Fund Manager (IFM), portfolio management and trading regulations.
Demonstrate in-depth knowledge of National Instruments (e.g., NI 81-102, NI 31-103, NI 81-107, etc.).