Manager, Personal And Commercial Banking Anti Money Laundering Governance

04/11/2024

Address:

100 King Street WestAudit, Risk & Compliance

Provides oversight, analysis, subject matter expertise and review of key policies, procedures, and reporting related to financial crime risks for Personal and Commercial Banking Anti-Money Laundering Requirements. Implements and monitors risk management framework, governance framework, and practices leveraged across BMO to manage AML, TF & Sanctions risks. The Manager will work with stakeholders to provide insights and recommendations to key AML controls, data, metrics, trends, monitoring, and policies and procedures. The Manager will work with different Operating Groups and Lines of Business to ensure alignment across the enterprise and apply critical thinking to make strategic decisions. This includes managing and analyzing identified issues and trends, project engagement across all areas of Personal and Commercial Banking and ensuring adherence to AML established service levels, compliance standards, and practices. Will work with stakeholders to implement the methodology, metrics and program standards and ensure appropriate visibility and assessment is completed pertaining to key identified AML controls and control output.

• Acts as a trusted advisor to Personal and Commercial Banking Canada.
• Guides/assists in the identification and classification of issues; recommends action plans and provides oversight of issue management and completion.
• Recommends and implements solutions based on issue analysis and business implications.
• Influences and negotiates with stakeholders to achieve business objectives.
• Assists leadership and business in determining priorities, development, and execution of strategic plans.
• Identifies emerging issues and trends that may be complex in nature and requires AML/ATF subject matter expertise, including (but not exclusive to) complex reviews of business artifacts, customer and transaction data and technology requirements.
• Research existing or emerging requirements & related best practices to assist and develops recommendations for changes/enhancements.
• Assists with the interpretation of new or changing regulations and assessing impacts to the governance frameworks.
• Provides insights and recommendations, including through formal verbal and written mediums. Drafts reports, communications and presentations that are concise and clear, articulating critical analysis of identified issues/trends or escalations such that they are well understood, unambiguous and actionable.
• Conducts independent analysis and assessment to resolve strategic issues.
• Leads the development and maintenance of the governance system and framework as well as the review and analysis of key control outputs, trends with supporting documentation.
• Supports development and execution of strategic initiatives in collaboration with internal and external stakeholders.
• Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
• Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.
• Leads in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels.
• Assesses education and training needs for the business and assists to develop and deliver training.
• Leads and integrates the monitoring, measurement & reporting on the status of the financial crime risk governance program to internal & external stakeholders.
• Includes communication with key stakeholders on actionable results of critical analysis of key controls and trends impacting Personal and Commercial Banking.
• Leads the management of governance meetings and maintenance of governing body mandates, oversight, and approval guidelines.
• May provide specialized support for other internal and external regulatory requirements.
• Provides input into the planning and implementation of ongoing operational programs in support of the financial crime risk framework.
• Leads/participates in the design, implementation, and management of core business/group processes.
• Administers and maintains financial crime risk program activities in adherence to all policies, procedures, and established processes.
• Identifies potential risk situations/ impacts, and make recommendations or escalates to the manager, as per guidelines.
• Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
• Builds effective relationships with internal/external stakeholders e.g., business stakeholders and Corporate Support Areas (CSAs) in providing 'second line of defense' financial crime risk management support.
• Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives.
• Maintains tools and templates for financial crime risk programs (e.g., AML Legislative Compliance Program), as required.
• Act as first point of contact for incoming business queries related to AML. Provide effective challenge to problem statements and potential solutions.
• Provide guidance and recommendations to the business in consideration of the PCMLTFR, Enterprise AML Program, and business polices and risk appetite by maintaining a risk-based approach.
• Work with stakeholders and use in depth business knowledge and data of its customers, channels, and products to appropriately conduct risk assessments.
• Work collaboratively with leadership and the team to create efficiencies and identify opportunities to increase productivity.
• Able to work independently and with agility to change course and demonstrate strong risk management in a rapidly changing regulatory environment.
• Able to maintain Satisfactory Audit Results by working with key stakeholders and business in identifying any program gaps and completion of BAU activities.
• Manage and support downstream impacts to AML Program requirements due to changes and new guidance introduced BMO Compliance.
• Able to take initiative in identifying opportunities to get exposure to new challenges and different work streams to gain further knowledge and understanding of overall AML Risk and its impact at the enterprise level.
• Demonstrate leadership to ensure AMLO P&BB team serves as key leading stakeholders in model development, change review, and strategic priorities; ensuring team SME is leveraged in any model related decisions and changes as it pertains to second line oversight and challenge.
• Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.
• Provides specialized consulting, analytical and technical support.
• Exercises judgment to identify, diagnose, and solve problems within given rules.
• Works independently and regularly handles non-routine situations.
• Broader work or accountabilities may be assigned as needed.

Qualifications:

• Typically between 5 - 7 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• In-depth knowledge of financial crime risk management practices.
• In-depth knowledge of the designated business / product portfolio.
• In-depth knowledge of regulatory requirements.
• In-depth knowledge of quantitative techniques and economic capital methodologies.
• In-depth knowledge & experience with risk policy frameworks; quality control / testing frameworks.
• Deep knowledge and technical proficiency gained through extensive education and 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.

$68,000.00 - $126,000.00Salaried

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. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

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.