The Director, Compliance Program Management - Corporate Areas is responsible for oversight of and engagement with the Compliance Programs that support the identification, assessment and management of regulatory risk within non-
revenue-producing areas of the Bank (Corporate Areas). Given the global footprint of the Corporate Areas within BMO, the Director co-
ordinates with the Corporate Areas in Europe, Asia and US. This position manages resources located in Toronto.
With respect to regulatory risk, the Director utilizes a risk-based and data-driven approach to effectively and efficiently carry out the functions of the Corporate Areas Compliance Mandate as it relates to the Corporate Areas.
This includes providing Second Line of Defence oversight where required, obtaining and verifying information about Corporate Areas state of compliance with the regulatory requirements, and providing Corporate Areas with expert guidance on establishing and enhancing a compliance program.
The Director is a direct report to the Managing Director, Compliance Program Management and serves on the leadership team for that group.
Key Accountabilities :
Oversight Corporate Areas Compliance Program (40%)
Carry out the functions of the Corporate Areas Compliance Mandate as it relates to the Corporate Areas,
Work with Corporate Areas and Legal Groups to keep apprised of regulatory developments relevant to Corporate Areas globally and lead the compliance team in understanding the impact of those developments on regulatory compliance.
Ensure the Corporate Area Compliance Program is adequate relative to the level and complexity of risks.
Direct and oversee implementation of policies & practices for the Corporate Area Compliance Program to support specific risk taking activities.
Develop and implement a strategic plan for oversight and monitoring of regulatory compliance by Corporate Areas which mitigates risk and maximizes shareholder value.
Develop and implement strategies for regulatory compliance oversight and monitoring and promoting a pro-active regulatory compliance culture.
Develop compliance measures and metrics to assess effectiveness of regulatory compliance policies, procedures and programs.
Participate in additional projects and accountabilities as required.
Regulatory and Executive Consultation (15%)
Act as an advisor, where appropriate, on the development and design of policies, procedures and programs to effectively identify regulatory risk, monitor for compliance with relevant regulation and mitigate regulatory risk and related losses.
Foster and maintain strong and trusted relationships with key regulators in multiple jurisdictions, globally.
Develop and maintain strong relationships with executives and senior management to ensure timely information exchange, become trusted advisor in their regulatory risk and exam management and establish regulatory compliance leadership.
Development of High-Performing Team (30%)
Recruit, lead, manage and inspire a diverse team of compliance professionals to achieve results.
Establish a high performance culture and work environment that attracts, retains and motivates a highly-qualified and engaged workforce.
Establish a culture based on collaboration and doing the right thing. Provide regular and constructive feedback and coaching and appropriate development opportunities to direct reports.
Provide planning, leadership and direction to employees in order to align tasks and assignments with Compliance, and Bank goals and objectives.
Provide leadership and oversight in the recruitment, selection, retention, rewarding and development of employees.
Ensure fair administration of Human Resources policies and procedures.
Apply the Bank's performance management system to subordinates, including establishing goals and objectives, assessing skills and knowledge gaps, allocating resources to achieve objectives and close gaps, and assessing personal effectiveness.
Demonstrate confident leadership, sound judgment, creativity, a practical approach and commitment to achieving excellence in compliance risk management and the ability to do so on the basis of a risk-based model.
Governance Accountabilities (15%)
Support the Managing Director, Compliance Program Management by identifying and escalating appropriate issues, supporting regulatory conversations and recommendations and providing expertise as required about corporate areas compliance programs.
Oversee the development of regular updates on the status of Corporate Area Compliance risk management programs and provide analysis and assistance in the development of any solutions required to support effective management.
Oversee the development of regular updates on the status of Corporate Area Compliance risk management programs and provide analysis and assistance in the development of any solutions required to support effective management
Knowledge and Skills :
5+ years of related banking and policy experience developing / implementing policy frameworks in the bank or financial services industry
Professional designation or graduate degree, such as LLB, MBA, Chartered Financial Analyst (CFA), or accounting designation.
Expert understanding of multi-jurisdictional regulatory environment, frameworks and trends.
Extensive knowledge of, and experience with development of Corporate Risk Policies / Standards, risk culture and general banking practices and regulations.
Strong ability to interface effectively at the highest level in the organization and to interact with an open and engaging style with regulators, external auditors, and industry representatives.
Relevant work should include experience with financial institutions operating in the global market as well as those that have specific jurisdiction’s operations and regulatory expectations.
Demonstrated expertise in effectively communicating the roles and importance of each of the three lines of defense, as well as proactively identifying regulatory risk
Effective leadership capabilities, including expert communication, change management, sound judgement, relationship management, and negotiation skills
Ability to manage strategic long-term plans with day-to-day exigencies, including making nimble strategic adjustments as risks change
Working conditions :
This role operates in a high stress regulatory environment, with constantly changing expectations and close regulatory and audit scrutiny.
Limited travel may be required.
To find out more visit us at https : / / bmocareers.com.
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