Senior Compliance Officer (control room)

Bank of Montreal • Chicago, IL

13d • $75,000 - $160,000

About The Position

The Senior Compliance Officer, Control Room, supports the management of the firm's insider and proprietary information as part of a global team serving the US Investment Banking and Research teams. The role monitors and enforces information barriers between public- and private-side businesses and contributes to policies and procedures for containing sensitive or material non-public information. It calls for sound judgment with imperfect information, professionalism, discretion, composure, and the ability to build effective relationships with business partners and other stakeholders. The Control Room operates in a high-pressure, time-sensitive environment and supports the business outside normal business hours, including certain statutory holidays; flexibility to work non-standard hours may be required.

The position executes and monitors compliance programs, including Control Room activities, monitoring and testing, risk assessments, compliance reviews, surveillance, issue remediation, and documentation. It also provides compliance advice to business management and staff, supports regulatory consultation and governance, and contributes to regulatory readiness, training, and improvements to compliance tools and processes. Experience in investment banking and familiarity with the regulatory environment for investment or corporate banking are assets; the successful candidate is expected to develop understanding of these areas after starting.

Requirements

• Bachelor's degree required; the qualifications section also specifies a post-secondary degree in a related field of study.
• Typically at least 6 years of relevant experience.
• Typically 1–2 years of Control Room experience.
• Detailed knowledge of consumer protection regulations and related marketing and advertising guidelines.
• Skilled knowledge of regulatory and compliance requirements and the operations of a single client group.
• In-depth verbal and written communication skills.
• In-depth collaboration and teamwork skills.
• In-depth analytical and problem-solving skills.
• In-depth influence skills.
• In-depth data-driven decision-making skills.
• Strong communication, critical-thinking, relationship-management, and project-management skills.
• Deep knowledge and technical proficiency gained through extensive education and business experience.

Nice To Haves

• Recognized compliance certification or equivalent.
• Practical experience in some aspect of investment banking.
• A good understanding of the regulatory environment and regulatory expectations as they apply to investment or corporate banking.

Responsibilities

• Coordinate coverage across multiple jurisdictions for grey and restricted lists and research.
• Review research before publication for compliance with research restrictions and verify compliance with Wall Crossing procedures.
• Maintain grey and restricted lists.
• Liaise with global Compliance teams to monitor research communications in light of legal, regulatory, and policy considerations.
• Execute monitoring and testing for the Investment Banking and Research businesses.
• Coordinate and conduct ongoing risk assessments and compliance reviews; analyze risks and identify factors affecting risk mitigation and regulatory compliance.
• Anticipate consequences of unaddressed risks or compliance shortfalls and recommend appropriate controls.
• Engage with line-of-business staff to identify opportunities to improve compliance policies and procedures.
• Escalate high-profile or high-risk cases to Compliance and line-of-business management for visibility and resolution.
• Validate monitoring strategies, identify trends, and recommend ways to optimize data.
• Document compliance monitoring and surveillance activities, report findings, and follow up on outstanding issues.
• Validate that identified issues are addressed promptly and that management remediation plans are adequate.
• Guide less experienced Compliance team members in developing and implementing solutions.
• Advise line-of-business management and staff on compliance matters supporting the Research business, and work with business contacts to identify and implement effective compliance risk-management solutions.
• Conduct testing and analyze key performance indicators to assess whether Capital Markets policies and programs meet regulatory expectations; support root-cause analysis of material control failures.
• Review forms, disclosures, and advertisements for compliance with applicable requirements.
• Consult on new products, services, and automated systems to help incorporate compliance requirements.
• Maintain expertise in regulations, directives, and guidance applicable to supported line-of-business Compliance groups.
• Provide input on emerging issues and regulatory interpretation.
• Identify training needs based on compliance monitoring gaps.
• Identify and communicate potential improvements to Compliance tools and processes.
• Assist line-of-business management and staff with communicating and implementing regulatory policy and procedure changes.
• Represent the line-of-business Compliance team and interact with examiners and auditors during internal, external, and regulatory audits and examinations.
• Provide a regulatory perspective on the appropriateness of line-of-business sales and marketing materials.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans
• Performance-based incentives and discretionary bonuses may be included in total compensation, along with other perks and rewards.

What This Job Offers

• Job Type: Full-time
• Career Level: Senior