Compliance Officer - Responsible Banking / UDAAP (Chicago)

Compliance Program Assistant

Assists in the implementation, maintenance, and administration of a specific compliance program. Coordinates and performs risk assessment, monitoring, testing, and surveillance activities to ensure 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 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. Maintains functional and regulatory expertise specific to business group, and refers to Compliance Policies & Procedures manuals for requirements. 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.

Responsibilities :

• 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.
• Analyzes 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.
• Provides input to business / group on emerging risks, regulatory developments, and interpretation of regulations.
• 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 analyzes 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.
• 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 :

Salary : $63,300.00 - $117,200.00

Pay Type : Salaried

The 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.

About Us

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.

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state, and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.