Senior Compliance Officer - Regulatory & Advisory

BMO•Toronto, ON

9d•CA$75,900 - CA$141,900•Onsite

About The Position

BMO Nesbitt Burns, Private Client Division is a core part of PMO Private Wealth, and it operates as one of North America’s leading full-service investment advisory firms. We are seeking a Senior Compliance Officer – Regulatory & Advisory with a strong understanding of the regulatory landscape and knowledge of CIRO rules, to join our Compliance team. This role has dual reporting lines and reports to the Chief Compliance Officer, BMO Nesbitt Burns, Private Client Division, and BMO Private Wealth Canada, with a dual reporting line into the Senior Compliance Manager, Regulatory & Advisory. As a key member of the Compliance team, you will focus on regulatory developments, change management, and reporting. Excellent written and oral communication skills, strong knowledge of CIRO rules, and project management experience are required.

Requirements

Experienced compliance professional with 5+ years of experience in compliance with relevant experience in managing regulatory developments, change management, and reporting, and a post-secondary degree in a related field of study or an equivalent combination of education and experience
CSC, Investment Dealer Supervisors Course or similar qualifications
Deep understanding of securities laws and rules, and in particular of CIRO Rules
Strong analytical and critical thinking skills to assess information, evaluate risks, and make informed judgments. Can approach problems from multiple perspectives and demonstrate sound reasoning.
Excellent oral and written communication skills; including the ability to understand and effectively communicate relevant industry regulations, impacts and implementation solutions to the business
A high level of professionalism, ethics and integrity
Ability to work in a changing environment, managing multiple priorities and strategies
Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
Detailed knowledge of consumer protection regulations and related marketing and advertising guidelines.
Skilled knowledge of regulatory/ compliance requirements and the operations of a single client group.
Strong communication, critical thinking, relationship management and project management skills.
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.

Nice To Haves

Project management certifications or equivalent experience
Prior experience as an Approved Person or working at a securities regulator
Recognized compliance certificate or equivalent preferred.
May require experience at regulatory body for one or more compliance area(s).

Responsibilities

Have a strong understanding of Private Wealth, and of applicable CIRO rules and the broader securities regulatory landscape.
Assist lead regulatory change initiatives and coordinate various stakeholders to ensure compliance with new regulatory developments, and to support regulatory initiatives and compliance program changes, and ensure alignment with CIRO and other rules, including leading change management processes
Contribute to regulatory reporting of regulatory developments, regulatory initiatives and compliance program changes
Deploy appropriate methodologies and governance tools, to drive the timely delivery of analysis and agreed solution approach for any regulatory or compliance program initiative
Support the CCO on assigned tasks as required
Assists in the implementation, maintenance and administration of a specific compliance program.
Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO Compliance Program.
Works with business/group and internal partners to ensure regulatory, corporate and fiduciary obligations are met.
Advises business/group on implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them.
Identifies risks and implements appropriate actions to mitigate them.
Develops and maintains compliance information for analysis and reporting.
Achieves compliance goals by maintaining current knowledge of regulatory requirements and developments.
Maintains functional and regulatory expertise specific to business group, and refers to Compliance Policies & Procedures manuals for requirements.
Contributes to business/group results by providing oversight and making recommendations that significantly impact the Bank’s ability to monitor regulatory compliance programs, minimize operational risk and align with regulatory agencies.
Provides advice and guidance to assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.
Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
Influences to achieve effective regulatory compliance controls that enable business objectives.
Identifies and advises on emerging issues and trends to inform decision-making.
Helps determine business priorities and best sequence for execution of business/group strategy.
Builds effective professional relationships with business group, internal/external stakeholders and trust with regulators.
Analyses and reports on compliance data, and related data to gain insights on regulatory risk.
Oversees the development and maintenance of guidelines and procedures, providing advice/rulings as necessary, for a single function within a geographic area.
Participates in the design, implementation and management of core business/group processes.
Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.
Supports root cause analysis in response to material control failures in business/group.
Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation.
Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.
Analyzes and reports compliance information to Compliance and business/group management.
Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations.
Advises first line of defense management and employees on compliance matters.
Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.
Identifies enhancements to business group compliance tools and processes and communicates to required stakeholders.
Assists business group management in communicating and implementing changes to applicable regulatory policies and procedures.
Represents the business/group Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations.
Provides regulatory perspective on business group’s sales and marketing materials.
Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.
Builds effective professional relationships with business/groups.
Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.
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.