Manager, Business Compliance, BMO Wealth Management Contract
Manager, Business Compliance, BMO Wealth Management Contract
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Job Description
Application Deadline:
Address:
100 King Street WestJob Family Group:
This is a 12-month contract.
General:
This role provides regulatory compliance advice and direction to the Wealth businesses supported. Specifically this role interprets regulations provides advice on the application of regulatory requirements to business processes and controls. This individual is the designated subject matter expert for 1st Line compliance supporting the business as it relates to regulatory developments.
This position is also accountable to lead and support the implementation and execution of the Enterprise Compliance Program (ECP) advising LOB management on implications of new/changing regulatory requirements on business products processes and controls.
The position requires supporting large/complex compliance programs/frameworks /projects/initiatives to ensure compliance risks are appropriately identified risk assessed mitigated and regulations adhered to.
Key Accountabilities:
Regulatory Development:
Provide regulatory compliance advice to projects to ensure compliance risks are appropriately identified risk assessed mitigated and regulations adhered to. Participate in discussions with relevant stakeholders to review edit and approve changes.
Make recommendations and provide solutions and enhancements to existing practices to keep pace with regulatory changes and provide requisite support in the implementation of regulatory change initiatives:
- Act as the Regulatory Implementation Lead (First Line Compliance).
- Responsible for leading the impact assessment action planning and implementation of responding actions to emerging requirements.
- Conduct and document impact assessments for new regulatory requirements and communicate conclusions to the business 2nd Line Compliance and Legal.
- Participate in regulatory development project meetings as required.
- Attend industry association meetings on Compliance related matters.
Business Partner Engagement:
- Supports business leaders in the effective implementation maintenance and administration of 1st Line compliance programs.
- Maintains an inventory of regulations and associated controls in GRCE (Compliance book of record) to ensure the completeness of the regulations mapped to the business and ensure controls to support regulatory compliance are documented and appropriately risk assessed such that they can be tested by the Monitoring & Testing Team.
- Participates in discussions with relevant stakeholders to review edit and approve changes to policies processes procedures controls and technology needs to ensure they comply with regulatory developments/requirements.
- Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including regulatory readiness assessments planning stakeholder management execution evaluation and sustainment of initiatives.
- Completes supplier regulatory compliance risk assessments.
Relationship Management:
Collaborate and maintain positive relationships with individuals across the business listed below:
- Private Wealth Canada management regional teams first and second line compliance teams
- InvestorLine management team first and second line compliance teams.
- GAM: management team first and second line compliance teams.
Compliance Policy and Procedure Support
- Provide compliance feedback on policies owned by the business: Acts as a subject matter expert in the evaluation development and implementation of a compliance internal control system.
- Participate in the regular cyclical review of policies that contain and/or address regulatory requirements.
Regulatory Knowledge:
Develop and maintain a high level of expertise in regulations directives and guidance.
Primary Regulatory Knowledge:
- CIRO (MFDA & IIROC)
- UMIR Trading rules
- OSC rules
Secondary Regulatory Knowledge:
- Financial Planning Provincial requirements
- Unclaimed Balances Provincial Requirements
General Regulatory Knowledge:
- Volcker
- Privacy
- Competition Act
Qualifications:
- Typically between 5 - 7 years of relevant experience (i.e. Broker Dealer Self-Directed Investing investment fund management and/or portfolio management) and post-secondary degree in related field of study or an equivalent combination of education and experience.
- Specific education/designation/experience that would be an asset:
- Canadian Securities Courses
- Derivatives Fundament Course
- Other CSI courses
General Knowledge/skills:
- Expert verbal and written communication skills
- Expert presentation skills
- Consulting analytical and technical support skills.
- Builds effective relationships with internal senior stakeholders.
- Breaks down strategic problems and analyses data and information to provide insights and compliance related recommendations.
- Exercises judgment to identify diagnose and solve problems within given rules.
- Ability to demonstrate effective use of judgment interpretation knowledge and skill in the application of regulations and compliance requirements.
- Works independently and regularly handles non-routine situations.
- Program management skills - In-depth.
- Ability to multitask and prioritize deliverables and time management
- Deep knowledge and technical proficiency gained through extensive education and business experience.
- Collaboration and teamwork skills - In-depth.
- Influence skills - In-depth.
- Motivated individual who takes initiative and accepts personal accountability.
- Working knowledge of information technology tools required including MS Office.
Salary:
Pay Type:
The 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 part-time roles will be pro-rated 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 performance-based 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 in-depth training and coaching to manager support and network-building opportunities well help you gain valuable experience and broaden your skillset.
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:
Manager
Employment Type
Full-Time
