Regulatory Reporting

Bank of Montreal•New York, NY

About The Position

Member of the broker/dealer regulatory reporting team who will be responsible for the 15c-3 customer reserve calculation for BMO Chicago Branch, and as needed assist in CMC regulatory reporting and other financial/statutory reporting matters. Works closely with business leaders, Finance Partners, and operations to ensure compliance with 15c3-3 governing BMO Chicago Branch treasury activity. Preparation of weekly (or potentially daily) 15c3-3 customer reserve calculation for BMO Chicago Branch. Acts as a subject matter expert on relevant reserve regulations and policies. Partner with client onboarding to communicate any customer/non customer designation issues. May network with industry contacts to gain competitive insights and best practices. May own internal/external stakeholder relationships, include internal/external auditors and regulators. Assists in preparing any required monthly/quarterly/annual filings related to the reserve calculation, as needed. Drives enhancements to the 15c3-3 in house database to minimize manual inputs into the calculation. Maintains customer reserve bank account and securities account. Determines the 15c3-3 impact of initiatives/ strategic business decisions, and incorporate the impacts into forecasting tools. Breaks down strategic problems, and analyses data and information to provide financial insights and recommendations. Employs systems (e.g. customized exception reports, tracking reports etc.) to manage information. Integrates information from multiple sources (e.g. financial and operational systems) to enable more efficient processes, enhanced analysis and/or streamlined reporting Acts as a trusted regulatory advisor to minimize reserve cash requirements. Recommends and implements solutions based on analysis of issues and implications for the business 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.

Requirements

Bachelor's Degree in Finance or Accounting

Nice To Haves

Series 27 or 99 desirable

Responsibilities

Preparation of weekly (or potentially daily) 15c3-3 customer reserve calculation for BMO Chicago Branch.
Acts as a subject matter expert on relevant reserve regulations and policies.
Partner with client onboarding to communicate any customer/non customer designation issues.
May network with industry contacts to gain competitive insights and best practices.
May own internal/external stakeholder relationships, include internal/external auditors and regulators.
Assists in preparing any required monthly/quarterly/annual filings related to the reserve calculation, as needed.
Drives enhancements to the 15c3-3 in house database to minimize manual inputs into the calculation.
Maintains customer reserve bank account and securities account.
Determines the 15c3-3 impact of initiatives/ strategic business decisions, and incorporate the impacts into forecasting tools.
Breaks down strategic problems, and analyses data and information to provide financial insights and recommendations.
Employs systems (e.g. customized exception reports, tracking reports etc.) to manage information.
Integrates information from multiple sources (e.g. financial and operational systems) to enable more efficient processes, enhanced analysis and/or streamlined reporting
Acts as a trusted regulatory advisor to minimize reserve cash requirements.
Recommends and implements solutions based on analysis of issues and implications for the business
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.