Bmo
Head of U.S. Regulatory Relations, Enterprise Regulatory Office
Bmo, Chicago, Illinois, United States, 60290
Head of U.S. Regulatory Relations
The Enterprise Regulatory Office ("ERO"), within Legal & Regulatory Compliance ("LRC"), supports the Bank of Montreal ("BMO") enterprise and helps BMO meet both its regulatory obligations and its supervisors' expectations. ERO provides leadership and guidance with respect to regulatory interactions, provides advice and oversight regarding regulatory examinations and the remediation of supervisory findings, advises with respect to legal and regulatory matters, and reports to senior management and the board of directors on significant matters. The Head of U.S. Regulatory Relations, within ERO, will report directly to the Chief Regulatory Officer, will be a primary contact with the U.S. regulators, and will lead a team of regulatory liaisons. The role will be responsible for fostering and maintaining key relationships with U.S. regulators, as well as providing oversight and advice with respect to regulatory interactions at all levels of the bank. The role will advise with respect to regulatory examinations, reviews, and remediation activities, stay abreast of the current supervisory environment, and report on current and upcoming supervisory trends and themes. More specifically, the Head of U.S. Regulatory Relations will engage in the following: Interact directly with both regulators and bank officers to facilitate the regulators' understanding of the bank's businesses, risk management, and strategies. Provide advice, guidance, and procedures for management of key regulatory examination and supervisory activities. Oversee and coordinate responses to supervisory findings and provide advice and input with respect to required remediation. Manage official communications with the U.S. regulators. Manage a team of individuals, including regulatory liaisons, within the ERO. Support the Chief Regulatory Officer and the overall ERO function by providing updates regarding U.S. supervisory activity and identifying and reporting trends and themes in the supervisory and regulatory environment. Support BMO Financial Corp. ("BFC") and BMO Bank N.A. ("BBNA") executive management in regulatory relationship responsibilities, monitor regulatory and supervisory activities, and provide appropriate updates, as necessary, to U.S. management and committees. Inform and provide reporting to management, as necessary. Scope and Impact The jurisdiction of the role is the U.S. The role has direct or indirect impacts on the following: Legal Risk Regulatory Risk Reputational Risk U.S. Regulatory Relationships Ability to execute strategic objectives The role is complex as a result of the highly regulated nature of the financial industry, the breadth and nature of BMO's various businesses, the complexity of both the supervisory environment and the business environment, the number and variety of regulatory regimes and regulators, and the magnitude and pace of regulatory change. Failure to fully understand and demonstrate an understanding of supervisory expectations and the regulatory environment may impact the bank's ability to execute on key strategic objectives. Key Relationships Internal Other employees in ERO and LRC, both in the U.S. and Canada BFC and BBNA management and senior leaders of U.S. lines of business and corporate areas External Key regulators in the U.S. Individuals at other financial institutions to further understanding the regulatory landscape Key industry associations Knowledge and Skills 10+ years' experience in financial services Bachelor's Degree required; Master's or Law Degree preferred Good knowledge of U.S. supervisory and regulatory landscape and priorities Direct work experience with, or knowledge of, the Federal Reserve Bank and OCC preferred. Salary: $150,700.00 - $261,800.00 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.
The Enterprise Regulatory Office ("ERO"), within Legal & Regulatory Compliance ("LRC"), supports the Bank of Montreal ("BMO") enterprise and helps BMO meet both its regulatory obligations and its supervisors' expectations. ERO provides leadership and guidance with respect to regulatory interactions, provides advice and oversight regarding regulatory examinations and the remediation of supervisory findings, advises with respect to legal and regulatory matters, and reports to senior management and the board of directors on significant matters. The Head of U.S. Regulatory Relations, within ERO, will report directly to the Chief Regulatory Officer, will be a primary contact with the U.S. regulators, and will lead a team of regulatory liaisons. The role will be responsible for fostering and maintaining key relationships with U.S. regulators, as well as providing oversight and advice with respect to regulatory interactions at all levels of the bank. The role will advise with respect to regulatory examinations, reviews, and remediation activities, stay abreast of the current supervisory environment, and report on current and upcoming supervisory trends and themes. More specifically, the Head of U.S. Regulatory Relations will engage in the following: Interact directly with both regulators and bank officers to facilitate the regulators' understanding of the bank's businesses, risk management, and strategies. Provide advice, guidance, and procedures for management of key regulatory examination and supervisory activities. Oversee and coordinate responses to supervisory findings and provide advice and input with respect to required remediation. Manage official communications with the U.S. regulators. Manage a team of individuals, including regulatory liaisons, within the ERO. Support the Chief Regulatory Officer and the overall ERO function by providing updates regarding U.S. supervisory activity and identifying and reporting trends and themes in the supervisory and regulatory environment. Support BMO Financial Corp. ("BFC") and BMO Bank N.A. ("BBNA") executive management in regulatory relationship responsibilities, monitor regulatory and supervisory activities, and provide appropriate updates, as necessary, to U.S. management and committees. Inform and provide reporting to management, as necessary. Scope and Impact The jurisdiction of the role is the U.S. The role has direct or indirect impacts on the following: Legal Risk Regulatory Risk Reputational Risk U.S. Regulatory Relationships Ability to execute strategic objectives The role is complex as a result of the highly regulated nature of the financial industry, the breadth and nature of BMO's various businesses, the complexity of both the supervisory environment and the business environment, the number and variety of regulatory regimes and regulators, and the magnitude and pace of regulatory change. Failure to fully understand and demonstrate an understanding of supervisory expectations and the regulatory environment may impact the bank's ability to execute on key strategic objectives. Key Relationships Internal Other employees in ERO and LRC, both in the U.S. and Canada BFC and BBNA management and senior leaders of U.S. lines of business and corporate areas External Key regulators in the U.S. Individuals at other financial institutions to further understanding the regulatory landscape Key industry associations Knowledge and Skills 10+ years' experience in financial services Bachelor's Degree required; Master's or Law Degree preferred Good knowledge of U.S. supervisory and regulatory landscape and priorities Direct work experience with, or knowledge of, the Federal Reserve Bank and OCC preferred. Salary: $150,700.00 - $261,800.00 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.