Compliance Officer, LRC Fixed Term/Secondment

Company : Bmo

Job Type : Full Time

Toronto, On

Number of Applicants

:

000+

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Job Description - Compliance Officer, LRC Fixed Term/Secondment

Application Deadline: 05/05/2024 Address:
100 King Street West Reporting to Senior Manager Retail Compliance, the Compliance Officer is to aid in executing the management of all regulatory compliance and risk management issues for BMO Nesbitt Burns (BMO NB). The Compliance Officer is responsible for ensuring that the regulatory compliance requirements are met on a daily and monthly basis. Compliance Officer will also provide training and support for the other compliance officers as well as provide support for the other areas of BMO NB as required. In this role you will ensure the daily and monthly head office supervision/review of client trading/account activity is completed within specified timeframes including PRO trading activity. In a principle based regulatory environment, emphasis is on reviewing for issues suitability of trades/investments, conflicts of interest, client's best interest, insider trading, artificial pricing, manipulative and deceptive methods of trading etc. *This is a 12-18 month fixed term role /internally a secondment *This is a hybrid role requiring 2-3 days in the Toronto office *A minimum of 2 years securities compliance and trading experience

Assist, provide feedback and reviews of various reports for BMO NB regarding such issues as high closing, AML, Managed Portfolio reports, Insiders.
Review the daily transaction report for suspicious transactions with respect to the Anti-Money Laundering and Terrorist Financing regulations.
Effective use of judgement, knowledge and skills in the application of regulations that affect BMO NB while seeking effective solutions and alternatives where applicable is required.
Provide guidance and support to BMO NB Sales and Operations staff in meeting regulatory requirements and following internal policies and procedures.
Assist the Client Documentation department with reviews of documentation in such instances as Trusts and Estates to ensure BMO NB accounts are properly documented and a clear understanding is established for the proper operation of the account.
Provide constructive input with regard to new products and initiatives from a regulatory perspective.
Identify gaps in policies and procedures which may have a regulatory impact and participate in the formulation of new policies and procedures to meet changes to industry rules and regulations.
Lead working groups on implementation of new Policy & Procedures.
Participate in internal as well as industry meetings and/or sub-committees, especially those which involve new rules, regulations or initiatives that will affect the Policy and Procedures of BMO NB. Involvement will require developing a detailed knowledge of the issue(s) in question and existing processes.
Be aware of the importance of issues such as privacy, anti-money laundering/terrorist financing suspicious activities, fraudulent activities, and cross border issues and constantly refine BMO NB's P&P to adhere to the strict requirements.
Participate in enterprise initiatives for BMO NB such as AML Training and Privacy.
Participate in special projects as needed.
Provides advice and guidance to assigned business/group on implementation of solutions to manage regulatory risk based on an understanding of business operations and stakeholder needs.
Builds effective professional relationships with business line, other internal/external stakeholders and regulators on the initial stages of investigations.
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 compliance 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 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.
Analyses and reports compliance information to Compliance and business/group management.
Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
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.
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.
Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
Exercises judgment to identify, diagnose, and solve problems within given rules.
Works independently on a range of complex tasks, which may include unique situations.
Broader work or accountabilities may be assigned as needed.

Qualifications:

Typically, between 2-3 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
2 Years of securities compliance environment preferred
Must understand trading strategies and apply while reviewing client's trading activity
Working knowledge of trading surveillance systems such as Actimize, SMARTS etc.
Recognized compliance certificate or equivalent preferred-CSC, CHP
Successful completion of courses such as Canadian Securities Course, Conducts and Practice Handbook
The Derivatives Fundamentals Course and Branch Managers Course is an asset
Understanding of how the Wealth Management, securities and trading industry functions and apply it to BMO Nesbitt's internal process
Must have a thorough understanding of CIRO/UMIR rules
Proficient knowledge of consumer protection and related marketing and advertising guidelines.
Proficient level of knowledge of a compliance field.
Strong knowledge of business operations & procedures, and activities involving documented practices.
Proficient in communication, critical thinking, relationship management and project management skills.
Technical proficiency gained through education and/or business experience.
Verbal & written communication skills - In-depth.
Collaboration & team skills - In-depth.
Analytical and problem solving skills - In-depth.
Influence skills - In-depth.

Grade:
6
Job

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