Compliance Officer- Commercial Banking

Compliance Officer

Our Commercial Banking, Corporate Compliance team is looking for a Compliance Officer. We focus on regulatory compliance for Commercial Banking, including Commercial Lending & Leasing and Treasury Payment Solutions, including Commercial Deposits, Investments and Credit Cards for the US and Canada jurisdictions. You will also be able to partner with the line of business on the design, implementation and monitoring and testing of their controls, conduct risk assessments, and manage oversight of regulatory compliance issues. We partner with the business to prepare them for regulatory exams and provide advisory support in managing regulatory compliance risk.

Responsibilities include :

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.

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

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.

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 3 - 5 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

Recognized compliance certificate (CMA) or equivalent preferred.

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.

Data driven decision making - In-depth.

Work model 4 days in office starting September.

The salary range is for the Chicago market and will vary based off locations : $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.