Manager, Business Compliance Monitoring & Testing, Canada Wealth Management

Mandate:

As a member of the Wealth Monitoring & Testing Team, the Manager, Business Compliance Monitoring & Testing, Canada Wealth Management carries responsibility for delivering on components of the first line monitoring and testing plans for Wealth LOB’ in accordance with the Enterprise Compliance Framework

To effectively execute the mandate, the Manager, Business Compliance Monitoring & Testing, Canada Wealth Management must possess a high level of expertise in Wealth regulations, directives and guidance. The individual’s mandate will include: supporting the Enterprise Compliance Program management by:

• Managing special projects as may be assigned from time to time;
• Conducting business impact analysis with respect to emerging regulations;
• Representing First Line Compliance and assisting with the interactions between examiners and auditors during internal, external and regulatory audits and examinations.
• Developing and executing the monitoring and testing plan.
• Acting as a liaison with respect to the monitoring & testing program with the various internal business partners across the LOBs and;

Key Accountabilities:

• Access and update the enterprise compliance book of record GRCE
• Design and implement specific monitoring and testing procedures for each applicable area of review.
• Execute the first line monitoring & testing program for the Wealth LOBs (excluding Insurance) and documenting results, outcomes as required.
• Understand ECP methodology
• Raise compliance and control related awareness with the businesses and provide appropriate advice and guidance to mitigate exposures and risk. For issues identified, provide root cause analysis and recommendations to management.
• Identify opportunities to improve the effectiveness of compliance testing
• Prepare reports and related test results dashboard for various stakeholders including management.
• Act as a liaison and compliance support to various internal business partners across the Wealth Management businesses.
• Understand controls that support regulatory compliance
• Understand Wealth (excluding Insurance) business processes across multiple entities across North America
• Communicate M&T identified issues to 1st Line businesses, 1st Line Compliance Advisory, 2nd Line Compliance

Knowledge & Skills

• Familiarity with Investment Funds (key regulations include NI 81-102, 81-107, etc.)
• Understanding of risk and controls
• Ability to demonstrate effective use of judgment, interpretation, knowledge and skill in the application of regulations and compliance requirements.
• Successful completion of the Canadian Securities Course is preferred.
• Knowledge and understanding of IIROC rules and regulations applicable to dealer representatives and OSC rules applicable to portfolio managers and investment fund managers.
• Familiarity with Wealth regulatory requirements (e.g. OSC, IIROC, SEC, OCC etc.)
• 3+ years experience in a compliance or audit role ideally in a dealer and/or portfolio management environment.
• Excellent interpersonal skills and strong written and verbal business communication skills.
• Working knowledge of information technology tools required including: MS Excel, MS Word and portfolio management or investment industry software.
• Experience in the planning and execution of testing (e.g. Audit, OSFI E-13, etc.)
• Exhibit strong planning skills
• Excellent data analysis skills, organizational, analytical and communication skills.
• University Degree

We’re here to help

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. We’ll 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, we’ll help you gain valuable experience, and broaden your skillset.

To find out more visit us at https://jobs.bmo.com/us/en

BMO is committed to an inclusive, equitable and accessible workplace. By learning from each other’s differences, we gain strength through our people and our perspectives. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

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.