Senior Compliance Officer, Regulatory Compliance Testing

Bank of Montreal•Milwaukee, WI

About The Position

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. Independently conducts risk assessments to identify regulatory, operational, and control risks. Independently develops and executes comprehensive test plans and procedures for outcome and oversight testing and may lead and review other testers in the execution of test plans. 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. Clearly documents evidence of testing activities to facilitate ease of reperformance and adherence to internal documentation policies and requirements. Leads testing engagements and projects; analyzes results; and communicates findings, recommendations, and status updates to management through written reports. Applies professional skepticism in the execution of the assigned work and ensures open lines of communication. Builds and maintains effective professional relationships with stakeholders including first line of defense business/groups and second line of defence business partners. 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. Identifies and advises on emerging issues and trends to inform decision-making. Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Analyses and reports on compliance data, and related data to gain insights on regulatory risk. Performs monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to control and/or regulatory failures in business/group. Develops and maintains positive working relationships with team members and management and builds effective professional relationships with business group leadership and other internal/external stakeholders. 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. Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls. Identifies, assesses, effectively challenges and provides oversight on 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. Advises first line of defense management and employees on compliance matters. Identifies enhancements to business group tools and processes and communicates to required stakeholders. Exercises judgment to identify, diagnose, and solve problems within given rules. Works independently and regularly handles tasks including department or program initiatives. Broader work or accountabilities may be assigned as needed.

Requirements

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.
Recognized CIA certification or equivalent preferred.
Strong process analysis, risk and control identification, and testing capabilities.
Strong communication, critical thinking, relationship management and project management skills.
Strong knowledge of second line and/or business operations & procedures, and activities involving documented practices.
Skilled knowledge of regulatory/ compliance requirements.
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

Recognized CIA certification or equivalent preferred.

Responsibilities

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.
Independently conducts risk assessments to identify regulatory, operational, and control risks.
Independently develops and executes comprehensive test plans and procedures for outcome and oversight testing and may lead and review other testers in the execution of test plans.
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.
Clearly documents evidence of testing activities to facilitate ease of reperformance and adherence to internal documentation policies and requirements.
Leads testing engagements and projects; analyzes results; and communicates findings, recommendations, and status updates to management through written reports.
Applies professional skepticism in the execution of the assigned work and ensures open lines of communication.
Builds and maintains effective professional relationships with stakeholders including first line of defense business/groups and second line of defence business partners.
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.
Identifies and advises on emerging issues and trends to inform decision-making.
Analyses and reports on compliance data, and related data to gain insights on regulatory risk.
Develops and maintains positive working relationships with team members and management and builds effective professional relationships with business group leadership and other internal/external stakeholders.
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.
Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
Advises first line of defense management and employees on compliance matters.
Identifies enhancements to business group tools and processes and communicates to required stakeholders.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently and regularly handles tasks including department or program initiatives.
Broader work or accountabilities may be assigned as needed.