Compliance Officer, Legal & Regulatory Compliance
Bmo, Chicago, IL, United States
Compliance Program Coordinator
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 include:
Providing 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.
Building effective professional relationships with business line, other internal/external stakeholders and regulators on the initial stages of investigations.
Conducting and/or effectively challenging risk assessments for business/group and assisting to identify more effective compliance controls.
Performing and/or effectively challenging monitoring and testing activities to ensure compliance regulatory compliance controls are operating and aligned to regulatory requirements. Supporting root cause analysis in response to material control failures in business/group.
Identifying, assessing, effectively challenging and overseeing the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevating high profile issues/risk cases to Compliance and business/group management for prompt resolution.
Analyzing and reporting compliance information to Compliance and business/group management.
Developing and maintaining a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
Providing input to business/group on emerging risks, regulatory developments and interpretation of regulations.
Conducting and/or effectively challenging risk assessments for business/group and assisting to identify more effective compliance controls.
Performing and/or effectively challenging monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supporting root cause analysis in response to material control failures in business/group.
Identifying, assessing, effectively challenging and providing oversight on the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevating high profile issues/risk cases to Compliance and business/group management for prompt resolution.
Analyzing and reporting compliance information to Compliance and business/group management.
Advising first line of defense management and employees on compliance matters.
Consulting on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
Ascertaining training needs and helping develop training based on gaps identified through the compliance monitoring and testing.
Identifying enhancements to business group compliance tools and processes and communicating to required stakeholders.
Assisting business group management in communicating and implementing changes to applicable regulatory policies and procedures.
Representing the business/group Compliance team and interacting with examiners/auditors during internal, external and regulatory audits and examinations.
Providing regulatory perspective on business group's sales and marketing materials.
Anticipating/identifying and analyzing risk and consequences of unaddressed risk factors/compliance gaps, and recommending appropriate controls.
Building effective professional relationships with business/groups.
Operating effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
Accessing, monitoring and reporting on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
Communicating the roles and importance of each of the three lines of defense, and proactively identifying 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 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.
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.
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 include:
Providing 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.
Building effective professional relationships with business line, other internal/external stakeholders and regulators on the initial stages of investigations.
Conducting and/or effectively challenging risk assessments for business/group and assisting to identify more effective compliance controls.
Performing and/or effectively challenging monitoring and testing activities to ensure compliance regulatory compliance controls are operating and aligned to regulatory requirements. Supporting root cause analysis in response to material control failures in business/group.
Identifying, assessing, effectively challenging and overseeing the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevating high profile issues/risk cases to Compliance and business/group management for prompt resolution.
Analyzing and reporting compliance information to Compliance and business/group management.
Developing and maintaining a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.
Providing input to business/group on emerging risks, regulatory developments and interpretation of regulations.
Conducting and/or effectively challenging risk assessments for business/group and assisting to identify more effective compliance controls.
Performing and/or effectively challenging monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supporting root cause analysis in response to material control failures in business/group.
Identifying, assessing, effectively challenging and providing oversight on the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevating high profile issues/risk cases to Compliance and business/group management for prompt resolution.
Analyzing and reporting compliance information to Compliance and business/group management.
Advising first line of defense management and employees on compliance matters.
Consulting on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.
Ascertaining training needs and helping develop training based on gaps identified through the compliance monitoring and testing.
Identifying enhancements to business group compliance tools and processes and communicating to required stakeholders.
Assisting business group management in communicating and implementing changes to applicable regulatory policies and procedures.
Representing the business/group Compliance team and interacting with examiners/auditors during internal, external and regulatory audits and examinations.
Providing regulatory perspective on business group's sales and marketing materials.
Anticipating/identifying and analyzing risk and consequences of unaddressed risk factors/compliance gaps, and recommending appropriate controls.
Building effective professional relationships with business/groups.
Operating effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
Accessing, monitoring and reporting on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
Communicating the roles and importance of each of the three lines of defense, and proactively identifying 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 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.
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.