Manager, Compensation Governance & Regulatory Compliance

BMO•Chicago, IL

4d•$74,000 - $138,000•Hybrid

About The Position

This role provides subject‑matter expertise to strengthen the Bank’s compensation risk management and governance framework, with a strong focus on building and enhancing sustainable, scalable processes. The successful candidate will manage and support compensation programs that identify areas of heightened regulatory, financial, and conduct risk, including determining compensation plans and employee populations that present the greatest exposure to the organization. Acting as a trusted advisor, the role partners closely with business leaders, HR, Risk, and Compliance to design, refine, and execute compensation programs aligned with regulatory expectations and risk appetite. The position supports regulatory reviews, reporting, benchmarking, and assessments through strong analytical insight and clear, executive‑ready communication. This is a highly hands‑on role suited for a compensation professional who thrives in ambiguity, exercises sound judgment, and drives continuous improvement while protecting the bank’s risk profile. This is a Toronto or Chicago based hybrid opportunity, requiring on‑site presence at least three days per week.

Requirements

Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
In-depth knowledge of compensation theory and program design methodology.
Deep knowledge and technical proficiency gained through extensive education and 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.

Responsibilities

Provides compensation expert advice and counsel through a variety of business/group and leadership engagements to execute BMO’s strategy and support the business/group strategy.
Supports/defines the strategic direction, governance design, program design and execution of compensation programs at BMO.
Understands and aligns to regulatory requirements in applicable jurisdictions.
Completes specific strategic & operational work to deliver program objectives and/or minimize risk.
Acts as a trusted advisor to assigned business/group.
Influences and negotiates to achieve business objectives.
Recommends and implements solutions based on analysis of issues and implications for the business.
Identifies internal and/or external emerging issues, trends and needs to inform business strategies & decisions.
Provides design requirements to help define and advance compensation strategy.
Assists in the development of strategic plans.
Provides input to the development of the program strategy and contributes to and continually improves principles, process and tools.
Manages relationships with outside service providers for programs and ensure all required activities are completed.
Provides advanced analytical and other project support in the design, development, implementation and evaluation of policies and programs.
Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.
Provides input into the planning and implementation of operational programs.
Develops compensation programs/solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.
Provides input into the planning & implementation of operational programs.
Supports the design, development and implementation of multi-year strategy for compensation that improves employee productivity, engagement and advocacy in alignment with BMO’s overall business strategy.
Breaks down strategic problems, and analyses data and information to provide insights and recommendations.
Gathers and formats data into regular and ad-hoc reports, and dashboards.
Supports regulatory requests, including regulatory reporting, to ensure BMO meets regulatory requirements in applicable jurisdictions.
Participates in / coordinates industry benchmarking processes that allow for better understanding of BMO’s program in relation to comparators.
Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
Focus is primarily on business/group within BMO; may have broader, 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.
Take measured risks while protecting the bank by applying our Risk Management Framework in the execution of your role, in line with our Risk Culture and within our approved Risk Appetite, making sound and risk informed decisions that align to business strategy, protect assets, and adhere to applicable policy documents (Frameworks, Policies, Standards, Procedures and Supporting documents), laws and regulations.