- Acts as a subject matter expert on relevant laws, regulations, policies, directives and guidance which apply to Canadian securities dealers and the Bank - in-depth knowledge of Canadian mutual fund dealer regulation an asset.
- Provides input to business/group and serves as a specialist resource to senior leaders and stakeholders on emerging risks, regulatory developments and interpretation of regulations.
- Provides advice and influences assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.
- Identifies risks and implements appropriate actions to mitigate them.
- Exercises judgment to identify, diagnose, and solve problems within given rules; applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to problems that can be complex and non-routine.
- Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the business/group.
- Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
- Leads/participates in the design, implementation and management of core business/group processes.
- Resolves daily issues and/or escalates with appropriate analysis and/or recommendations.
- Implements areas of improvement to ensure consistency with market place.
- Builds effective relationships with internal/ external stakeholders.
- May network with industry contacts to gain competitive insights and best practices.
- Supports the execution of strategic initiatives in collaboration with internal and external stakeholders.
- Focus is primarily on BMO II; may have broader, BMO enterprise-wide focus.
- Works independently on a range of complex tasks, which may include unique situations.
- Builds effective professional relationships with business group, internal/external stakeholders and trust with regulators.
- Analyses/reviews and reports compliance data and associated data to Compliance and business/group management.
- Oversees the implementation, maintenance and monitoring/ reporting of all policies, guidelines, procedures and compliance programs, provides advice/rulings as necessary, for one or multiple complex function(s)/activity(ies).
- Effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
- Effectively challenges monitoring and testing activities to ensure compliance controls are operating and aligned to regulatory requirements.
- Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation.
- Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.
- Analyzes and reports compliance information to Compliance and business/group management.
- Conducts and/or effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.
- Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to material control failures in business/group.
- Identifies, assesses, effectively challenges and provides oversight on the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.
- Analyzes and reports compliance information to Compliance and business/group management.
- Advises first line of defense management and employees on compliance matters.
- Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
- Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.
- Identifies enhancements to business group compliance tools and processes and communicates to required stakeholders.
- Assists business group management in communicating and implementing changes to applicable regulatory policies and procedures.
- Represents the business/group Compliance team and interacts with examiners/auditors during internal, external and regulatory audits and examinations.
- Provides regulatory perspective on business group's sales and marketing materials.
- Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.
- Builds effective professional relationships with business/groups.
- Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
- Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
- Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.
- Implements changes in response to shifting trends.
- Geographic scope: up to global.
- Broader work or accountabilities may be assigned as needed.
- Typically between 4 - 6 years of legal practice or an equivalent combination of education and experience.
- Degree in law (LLB or JD) and license to practice law in relevant jurisdiction.
- Private practice, in-house experience or experience at regulatory body relating to the regulation of business/group activities may be required.
- Knowledge in legal field, typically with a functional or business line specialization.
- Technical proficiency gained through education and/or business experience
- Detailed knowledge of consumer protection regulations and related marketing and advertising guidelines.
- Strong communication, critical thinking, relationship management and project management skills.
- Verbal & written communication skills - In-depth / Expert.
- Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
- Analytical and problem solving skills - In-depth / Expert.
- Influence skills - In-depth / Expert.
- Data driven decision making - In-depth.
- Able to manage ambiguity.
- Written/spoken French an asset.
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Legal Counsel and Senior Compliance Officer - Toronto, Canada - BMO
Description
Application Deadline:
05/31/2024Address:
100 King Street WestJob Family Group:
Audit, Risk & ComplianceProvides and manages the delivery of legal and regulatory advice on products, initiatives, strategies, policies and developments for and on behalf of BMO Investments Inc. (mutual fund dealer) ("BMO II") and BMO Financial Group. Using knowledge of the financial services industry, the Canadian securities regulatory framework and its environment, assists in the implementation, maintenance and administration of BMO II's compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure the BMO II program remains current and aligned with BMO Compliance Program. Works with business/group and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Advises business/group on legal and compliance implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them. Identifies risks and implements appropriate actions to mitigate them. Develops and maintains compliance information for analysis and reporting. Achieves compliance goals by maintaining current knowledge of regulatory requirements and developments. Influences and negotiates to achieve business objectives. Contributes 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.
Delivers legal advice, instructs external counsel and ensures compliance with internal policies & procedures for a single or small number of function(s).
Qualifications:
Compensation and Benefits:
$74, $138,600.00Pay Type:
SalariedThe above represents BMO Financial Group's 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 Group's expected target for the first year in this position.
BMO Financial Group's 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:
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 .
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.
