Associate Compliance Officer (Temporary Fixed Term/Secondment)

02/27/2024

Address:

100 King Street West

Audit, Risk & Compliance

*THIS IS A 14 MONTH TEMPORARY FIXED TERM/SECONDMENT OPPORTUNITY WITH A TARGET START DATE OF JUNE 3rd

The Canadian Regulatory Compliance Testing (RCT) team within the Legal, Regulatory and Compliance Group (LRC) has an opening for an Associate Compliance Officer who will be responsible for supporting and executing regulatory compliance testing engagements. The Testing team is responsible for performing independent regulatory compliance Testing activities across various business lines and Corporate Areas. The Associate Compliance officer will work with Senior Compliance Officers to execute assigned testing, which can also include assisting with audits of InvestorLine.

The Associate Compliance Officer will be responsible for independent second line of defence regulatory compliance testing activities and reporting exceptions identified to Compliance senior management and the associated Business or Corporate Area. The testing activities performed validate that lines of business are meeting their legislative and regulatory obligations in accordance with the Enterprise Compliance Program. The position works closely with Compliance Senior Management and internal stakeholders, supporting and assisting in the development of effective Testing Programs. To be effective in the role, the Associate Compliance Officer must maintain current knowledge of applicable regulatory requirements and developments, monitor and identify risks, and, when required, support the timely remediation of possible gaps and weaknesses.

*THIS IS A 14 MONTH TEMPORARY FIXED TERM/SECONDMENT OPPORTUNITY WITH A TARGET START DATE OF JUNE 3rd

Regulatory Compliance Testing (90%)

• Execute on assigned independent testing plans. Key activities include, but not limited to: engagement scoping, execution of testing program, issue communication / resolution, and presenting results.
• Support the development and design of testing strategies and methodologies in accordance with the ECP, Business Processes, Policies and Procedures.
• In accordance with the approved RCT testing schedule, initiate activities for upcoming Regulatory Compliance Testing reviews. Where required, determine scope, understand current risk assessment for relevant business group, and develop appropriate test steps and timelines.
• Execute detailed test script procedures, research and obtain supporting documentation relating to the work performed and document the results of the analysis process.
• Maintain accountability for adherence to established workpaper standards for consistent and detailed documentation.

• Ensure that Compliance reviews are proficiently and efficiently performed; accurately interpret results against distinct criteria.
• Evaluate the adequacy and effectiveness of policies, procedures, processes, and internal controls.
• Communicate any potential review findings to senior management in Compliance. Follow-up to support and verify appropriate response to issues identified before remediation begins.
• Prepare comprehensive reports of test conclusions by process and/or mandatory requirements.
• Effectively report findings, providing constructive recommendations, proposing areas for improvement and presenting/communicating to lines of business, Corporate Areas, and internal stakeholders.
• Ensure that testing and quality assurance reviews are delivered in alignment with the annual Compliance M&T Plan.
• Develop Compliance Testing expertise in identification of risks, assessing and reporting on the effectiveness of controls ensuring compliance with Federal, Provincial, Agency, Legal, Regulatory, Policy and Procedural requirements.

Regulatory Governance (10%)

• Develop and maintain a strong level of expertise in compliance regulations, directives and guidance which apply to the supported Business and Corporate Areas.
• Provide support in the development and design of testing strategies and methodologies in accordance with Corporate Regulatory Compliance, Business Processes, Policies and Procedures.
• Support the provision of compliance information in regards to emerging issues and interpretation of regulations.
• Assist and support senior management in providing regular updates for Compliance Senior Leadership on the status of compliance testing, quality assurance reviews, and results of data analytics.
• Broader work or accountabilities may be assigned as needed.

Qualifications:

• 1+ years in compliance, operational risk management or financial services (includes audit, legal, credit risk, market risk, or the management of a process or business with accountability for compliance or operational risk)
• Bachelor's degree required, recognized compliance certifications or equivalent a plus
• Sound and continued knowledge of the Compliance Risk Assessment process across different lines of business and the Corporation
• Knowledge of regulatory requirements, codes and standards applicable to both business and Corporate Areas (e.g. OSFI Guidelines, IIROC rules)
• Ability to provide management current information regarding standards of compliance with applicable rules/legislations
• Strong working knowledge of audit principles including sampling methods
• Demonstrated understanding of regulatory compliance and/or risk management policies and procedures
• Ability to multi-task between multiple and ongoing responsibilities and assignments
• Proven ability in exercising independent judgment and applying prudent risk mitigation principles
• Excellent verbal and written communication skills
• Strong critical thinking, relationship management, research and project management skills
• Ability to meet deliverables in tight timeframes
• Exhibits flexibility and adaptability
• Ability to be in person at 100 King Street West for two days a week

We're here to help

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.

To find out more visit us at https://jobs.bmo.com/ca/en.

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. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.