Senior Specialist, Regulatory Capital Compliance

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Provides oversight, monitoring and reporting on compliance with OSFI’s Capital Adequacy Requirements (CAR) guidelines, Implementation Notes, and Total Loss Absorbing Capacity (TLAC) Guideline. Develops and maintains the end-to-end CAR governance and oversight framework that includes procedures, methodologies and controls that increase transparency, accuracy and consistency across groups. Executes decision rights within the governance framework and works with stakeholders to implement the methodology, metrics and program standards to ensure compliance as well as effective monitoring, timely reporting and identification of action plans. Advises stakeholders on implications of new developments related to regulatory capital and assists to implement new/revised policies and programs to address them.

• Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
• Implements changes in response to shifting trends.
• Identifies potential risk situations/ impacts and make recommendations or escalates as per decision rights frameworks and guidelines.
• Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
• Effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements.
• Builds effective relationships with internal/external stakeholders e.g. business stakeholders and Corporate Support Areas (CSAs) in providing ‘second line of defense’ information and risk management support.
• Provides subject matter expertise on CAR requirements, when engaged by stakeholders, after they have completed their analysis of the requirements and require further guidance.
• May network with industry contacts to gain insights and best practices on CAR Compliance Program.
• Broader work or accountabilities may be assigned as needed.
• Determines and develops the key Compliance Process for non-advanced approach (AA) CAR chapters.
• Leads and integrates the monitoring, measurement & reporting on the status of the CAR governance program to internal & external stakeholders.
• Initiates and facilitates productive forums, where stakeholders can discuss, debate, and decide on key concerns related to regulatory capital governance.
• Researches existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
• Keeps abreast of regulatory developments and industry benchmarking to develop insights on Regulatory Capital implications (Pillar 1, 2 and 3) of climate risk.
• Effectively challenges risk assessments undertaken by 1st line to ensure compliance with CAR requirements.
• Supports enhancement of the CAR Compliance Program, along with associated tools and technology.
• Leads the execution of initiatives/programs; assesses and adapts as needed to ensure quality of execution.
• Drives clarity in accountability by negotiating and assigning 1st and 2nd line responsibilities for compliance with each CAR paragraph, including in the context of initial compliance arising from regulatory developments, model applications, acquisitions, or new products/initiatives and ongoing compliance in the context of CAR related self-assessments.

Qualifications:

• Verbal & written communication skills - Expert.
• Able to manage ambiguity.
• Understanding of accounting, balance sheet, and risk management concepts and practices.
• Data driven decision making - Expert.
• Influence skills - In-depth.
• Ability to manage multiple priorities with effective planning and organizing skills.
• Typically 7+ years of risk management experience in the financial industry and post-secondary degree in a quantitative field (finance, economics, statistics, engineering or mathematics).
• Expert knowledge of regulatory capital requirements, OSFI’s CAR guidelines and Implementation Notes or Basel Committee on Banking Supervision’s Minimum Capital Requirements, in particular FRTB, CVA, Counterparty Credit Risk, and Securitization.
• Knowledge of banking products, including credit and trading products, and their regulatory capital and Basel Capital Adequacy Reporting (BCAR) implications.
• Collaboration & team skills; with a focus on cross-group collaboration - Expert.
• Analytical and problem solving skills - Expert.
• In-depth communication and relationship management skills.

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/ca/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. 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.