Vice President, Senior Compliance Officer - Global Markets

BMO•New York, NY

1d•$150,000 - $160,000•Hybrid

About The Position

Our team is growing its Fixed Income Compliance team in New York with a focus on FINRA and SEC broker-dealer requirements and corresponding oversight. We are looking for someone to work closely with the Fixed Income, Currencies, and Commodities (“FICC”) LOBs and other internal business partners to ensure regulatory, corporate and fiduciary obligations are met. You will have a specific focus on compliance oversight over BMO’s Fixed Income activities, and maintain current knowledge of regulatory requirements and developments, monitoring risk/trade surveillance, and identifying and corrects possible gaps and weaknesses. Our particular focus will be the Securitized Products Business within FICC. Ideal candidate will assist in the implementation, maintenance and administration of the Fixed Income compliance program. Coordinate and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO Compliance Program. Work with business/group and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Advise business/group on implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them. Identify risks and implements appropriate actions to mitigate them. Develop and maintain compliance information for analysis and reporting. Achieve compliance goals by maintaining current knowledge of regulatory requirements and developments. Maintain functional and regulatory expertise specific to business group, and refers to Compliance Policies & Procedures manuals for requirements. Contribute 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. Additionally, the ideal candidate will: Provide advice and guidance to business lines on implementing solutions aligned to regulatory risk appetite and business needs. Consult on new products, services and automated systems to ensure compliance requirements are incorporated. Ensure effective compliance controls that support business objectives and identify enhancements to tools and processes. Monitor emerging risks, issues, and regulatory developments, providing insights to inform decision-making. Build and maintain strong relationships with internal stakeholders and regulators. Conduct and challenge risk assessments and perform or oversee monitoring and testing to ensure controls are effective and aligned with requirements, and ascertain/develop training based on identified gaps. Identify, assess, and oversee resolution of compliance issues, including root cause analysis, remediation plans, validation, and escalation of material concerns. Analyze and report compliance data and risk insights to management. Maintain expertise in applicable regulations and provide interpretive guidance to the business Advise first line of defense on compliance matters and reinforce the three lines of defense framework. Represents the business/group Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations. Operate independently to assess risk, solve problems, and manage non-routine situations in a dynamic, high-pressure environment.

Requirements

Functional knowledge of multiple FICC market activities preferred including: Primary Dealer, GSEs, Trade reporting (TRACE), communications, supervision, best execution/order handling, and Market Access.
Strong knowledge of applicable securities laws, rules and regulations with the ability to assess firm impact.
Typically minimum of 6-8 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
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.
Strong verbal & written communication skills.
Collaboration, team skills, and ability to constructively influence is highly valued.
Deep analytical and problem-solving skills.
Data-driven decision making is valued.

Nice To Haves

Series 7 and/or 63 a plus.
Recognized compliance certificate or equivalent preferred.
Experience at a regulatory body for one or more compliance area(s) is desirable, but not required.

Responsibilities

Assist in the implementation, maintenance and administration of the Fixed Income compliance program.
Coordinate and perform risk assessment, monitoring, testing and surveillance activities to ensure the program remains current and aligned with the BMO Compliance Program.
Work with business/group and internal partners to ensure regulatory, corporate and fiduciary obligations are met.
Advise business/group on implications of new regulatory developments or internal products, and assist to implement new/revised policies and programs to address them.
Identify risks and implement appropriate actions to mitigate them.
Develop and maintain compliance information for analysis and reporting.
Achieve compliance goals by maintaining current knowledge of regulatory requirements and developments.
Maintain functional and regulatory expertise specific to the business group, and refer to Compliance Policies & Procedures manuals for requirements.
Contribute 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.
Provide advice and guidance to business lines on implementing solutions aligned to regulatory risk appetite and business needs.
Consult on new products, services and automated systems to ensure compliance requirements are incorporated.
Ensure effective compliance controls that support business objectives and identify enhancements to tools and processes.
Monitor emerging risks, issues, and regulatory developments, providing insights to inform decision-making.
Build and maintain strong relationships with internal stakeholders and regulators.
Conduct and challenge risk assessments and perform or oversee monitoring and testing to ensure controls are effective and aligned with requirements, and ascertain/develop training based on identified gaps.
Identify, assess, and oversee resolution of compliance issues, including root cause analysis, remediation plans, validation, and escalation of material concerns.
Analyze and report compliance data and risk insights to management.
Maintain expertise in applicable regulations and provide interpretive guidance to the business.
Advise first line of defense on compliance matters and reinforce the three lines of defense framework.
Represent the business/group Compliance team and interact with examiners/auditors during internal, external and regulatory audits and examinations.
Operate independently to assess risk, solve problems, and manage non-routine situations in a dynamic, high-pressure environment.