: Operations Specialist/Global Equity Clearing and Settlements

BMO•Toronto, ON

10d•Onsite

About The Position

Responsible for the monitoring and oversight of daily settlements within CDS/DTC/Foreign. Apply AI tools to identify patterns and automation opportunities. Lead modernization initiatives and identify improvements with the use of AI. Act as the back up and support to Associate Director. Align Controls with both internal audit/external audit and ensure compliance. Accountable for functions that require specialized handling and skills, act as the key point of contact for daily production issues/escalation. Act as a key control over the daily reports and the allocation of breaks to the various teams for follow up and resolution. Interacting daily with various teams in CAD/US and Offshore locations. Providing monthly metrics reporting to senior management of number of fails/OKRs/Breaks. Developing team members with the skillset needed to settle trades including the use of AI. Ensuring Teams are properly resourced including vacation coverage/sick day coverage. Consistently reviewing process/procedures and identifying automation opportunities.

Requirements

University degree or equivalent work experience
More than 5 years of related experience
Experience utilizing AI to streamline processes
Strong knowledge of the reconciliation process
Solid knowledge and understanding of all traded products-capital market
Solid knowledge of standard desktop applications used by the business unit (i.e. Microsoft Office; Internet Explorer, Copilot)
Solid knowledge of departmental systems and applications (CDS/DTC/Euroclear/BNP/BPS/Arrow)
Solid knowledge and understanding of business unit’s key products and services, proves and controls
Solid understanding of business unit’s risk and regulatory requirements
Solid understanding of internal business, partner’s business, services and organization
Attention to detail
Understanding of breaks and able to speak to the items when asked
Work effectively with high volume of transactions and with time constraints
Understand the intricacies of transactions from multiple lines of business and have the courage to make quick/sound decisions
Build strong relationships internally
Strong prioritization skills
Strong written and oral communication skills
Ability to multi-task in a fast-paced environment

Responsibilities

Manage and resolve day to day issues specific to reconciliations including the resolution of complex internal business partner and/or external customer issues. Escalate more complex issues to senior management if necessary.
Act in an advisory capacity, as a subject matter expert (SME) to senior management on the implications of Reconciliations and platform changes that will impact daily recons.
Provide guidance and support to related business unit regarding procedures for reconciliations
Continuously assess and improve the operational effectiveness of the reconciliation process
Handle and resolve complex matters, core business critical issues, disputes, queries and complaints from internal business partners and external customers.
Ensuring we have clear and documented procedures and processes with control check lists which are saved and used for training and audit purposes.
Maintain key controls and review process, where applicable, to ensure operating integrity, comply with internal and external regulators, involving an understanding of regulatory and compliance requirements as prescribed for the business unit; provide recommendations and implement corrective actions to ensure adherence as required.
Identify potential risk situations within the scope of work (e.g. risk assessments), make recommendations and/or escalate to senior management, where appropriate, and ensure contingency plans exist.
Develop and maintain standards, process and controls in reconciliations to minimize loss/risk, ensure all regulatory requirements are met, and safeguard the assets of the Bank.
Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business
Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support.
Align individual performance goals to team and organizational goals.
Demonstrates behaviors that align with the BMO Way and BMO core values.
Identify and recommend business process improvement efforts
Actively participates in industry‑wide and firm‑wide initiatives to support organizational objectives.