Vice President Capital Markets Supervision - Securitized Products
Vice President Capital Markets Supervision - Securitized Products
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$ 79800 - 148000
1 Vacancy
Job Description
Application Deadline:
Address:
151 W 42nd StreetJob Family Group:
Business ManagementBMO Capital Markets is a leading fullservice financial services provider. We offer corporate and investment banking treasury management as well as research and advisory services to clients around the world. #bmocapitalmarkets
MANDATE
Capital Markets Supervision (CMS) is responsible for directing leading and operating the First Line of Defenses Operating Group Compliance Program (OGCP).
The OGCP is the system of policies processes and controls established and implemented by the First Line of Defense to achieve and sustain its riskbased compliance with applicable laws and regulatory requirements. CMS tests that the First Line of Defense responsibilities outlined in the Legal Regulatory Compliance Risk Management (LRCRM) Policy the Enterprise Compliance Program and the Global Compliance Manual (GCM) and supporting operating guidelines are met.
CMS is part of the overall Risk & Regulatory Services Organization and is specifically responsible for the monitoring of trade floor activities and ensuring these activities adhere to all applicable regulations. This is achieved through transaction data and communication reviews risk assessments and attestations. CMS also provides advisory services for the Line of Business on regulatory matters.
KEY ACCOUNTABILITIES
Working directly with the Line of Business (Structured Products Trading and Sales personnel) colleagues within CMS and Compliance the VP will be responsible to review assigned surveillance reports validate activity and document results. Primary products covered will be various mortgage and asset backed securities but may also include other fixed income asset classes.
Additional accountabilities include maintaining a robust understanding of the regulatory obligations associated with these products and personnel and the development and/or continued maintenance of a first line of defense (Trade Supervision) protocol for monitoring controls around them.
The VP is also accountable for helping to promote an inherent culture of compliance across Capital Markets.
Responsibilities would include:
- Review trade exception reports and trading activity to ensure compliance with appropriate rules and regulations.
- Review electronic and voice communications of employees to ensure appropriateness and adherence to defined regulatory risk policies.
- Analyze surveillance data and develop reporting of key risk indicators for internal and external stakeholder reviewers.
- Write and maintain written supervisory procedures and other procedural documents.
- Partner closely with Compliance and Supervision colleagues to monitor Regulatory developments in the context of current rules and industry trends.
- Work on adhoc projects related to business initiatives or regulatory developments.
- Work closely with the Compliance Group who carries out the Second Line of Defense mandate of independent oversight and effective challenge.
- Build relationships and collaborate with other department teams such Legal Operations Middle Office and Sales & Trading.
- Assist with the Regulatory Compliance Risk Assessment process which is an ongoing review of emerging issues and risks documentation and enhancement of controls.
- Support the teams mandate in maintaining best inclass Supervisory Control Framework.
KNOWLEDGE SKILLS & REQUIREMENTS:
- 5 8 years of compliance regulatory or structured product/fixed incomerelated experience.
- Fixed Income product knowledge preferably Structured Products (e.g. ABS and MBS in the primary and secondary markets) and understanding of trading & sales activities and applicable regulations surrounding them.
- Knowledge of the Broker Dealer and Banking Regulations which include but not limited to SEC FINRA FRB NFA and CFTC.
- Demonstrated analytical auditing writing communications and presentation skills
- Strong collaborative skills
- Excellent Excel spreadsheet manipulation and data analytic skills; familiarity with Python and other programming scripts skills a plus
- Strong relationship management skills: ability to establish and manage multiple stakeholder relationships with the business within the three lines of defense and with corporate support functions
- Proven project management capabilities and an ability to coordinate the efforts of people and resources not under their direct control
- Ability to read technical compliance material and distil the applicability of the regulations to respective business unit(s)
- Ability to deal with sensitive issues with tact and discretion
- Excellent judgment and interpersonal skills who can consult influence collaborate and appropriately escalate issues
- Strong analytical skills analyze the evidence collected on remediated controls and determine if there is substantive conformance with requirements
- Ability to communicate questions and requests in a professional and clear manner
- Operate effectively within a demanding environment with constant regulatory and audit scrutiny
- Ability to work independently multitask efficiently and effectively and meet tight deadlines
- Advanced educational degree is desirable MBA CPA or JD.
- Professional certifications SIE Series 7 and 24 or ability to obtain upon hiring
Location:
Required Location: New York NY
COMPENSATION
The base salary range for this role is $120000.00 $170000.00 USD.
This position is important for the future of the organization and offers an overall competitive compensation mix including base salary and incentive pay.
PRIVACY
At BMO Financial Group your privacy is our priority. Our Privacy Code outlines our commitment to you and is designed to comply with applicable Privacy legislation in Canada. To view a copy of the Banks privacy policy please visit our website at scroll to the bottom of the page and click on the Privacy link.
Salary:
$79800.00 $148000.00Pay Type:
SalariedThe above represents BMO Financial Groups pay range and type.
Salaries will vary based on factors such as location skills experience education and qualifications for the role and may include a commission structure. Salaries for parttime roles will be prorated based on number of hours regularly worked. For commission roles the salary listed above represents BMO Financial Groups expected target for the first year in this position.
BMO Financial Groups total compensation package will vary based on the pay type of the position and may include performancebased incentives discretionary bonuses as well as other perks and rewards. BMO also offers health insurance tuition reimbursement accident and life insurance and retirement savings plans. To view more details of our benefits please visit: Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting positive change for our customers our communities and our people. By working together innovating and pushing boundaries we transform lives and businesses and power economic growth around the world.
As a member of the BMO team you are valued respected and heard and you have more ways to grow and make an impact. We strive to help you make an impact from day one for yourself and our customers. Well support you with the tools and resources you need to reach new milestones as you help our customers reach theirs. From indepth training and coaching to manager support and networkbuilding opportunities well help you gain valuable experience and broaden your skillset.
BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process please send an email to and let us know the nature of your request and your contact information.
Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO directly or indirectly will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid written and fully executed agency agreement contract for service to submit resumes.
Required Experience:
Chief
Employment Type
Full-Time
