BMO U.S.
Compliance Officer - Responsible Banking / UDAAP
BMO U.S., Chicago, Illinois, United States, 60290
Compliance Officer - Responsible Banking / UDAAP
Responsible for assisting in the implementation, maintenance and administration of a compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure the program remains current and aligned with BMO Compliance Program. Advises business groups on regulatory developments and helps implement new/revised policies and programs to address them. Identifies risks and implements actions to mitigate them. Develops and maintains compliance information for analysis and reporting. Maintains regulatory expertise and refers to Compliance Policies & Procedures manuals for requirements. Contributes to business results by providing oversight and recommendations to monitor regulatory compliance programs, minimize operational risk and align with regulatory agencies. Responsibilities
Provides advice and guidance to assigned business group on implementation of solutions to manage regulatory risk based on 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 challenges risk assessments for business groups and assists to identify more effective compliance controls. Performs and/or challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements; supports root cause analysis in response to material control failures. Identifies, assesses, challenges and oversees the satisfactory resolution of issues, including ensuring adequate remediation plans and validation. Elevates high profile issues/risk cases to Compliance and business group management for prompt resolution. Analyzes and reports compliance information to Compliance and business group management. Maintains a high level of expertise in applicable regulations, directives and guidance; provides input on emerging risks and regulatory developments. Advises first line of defense management and employees on compliance matters; consults on new products, services and automated systems to incorporate compliance requirements. Identifies training needs and helps develop training based on gaps identified through monitoring and testing. Identifies enhancements to compliance tools and processes and communicates to required stakeholders. Represents the business group Compliance team and interacts with examiners/auditors during audits and examinations; provides regulatory perspective on Sales and Marketing materials. Anticipates and analyzes risk and consequences of unaddressed risk factors; recommends appropriate controls. Works independently on a range of complex tasks and operates effectively within a high-stress, changing environment. Accesses, monitors and reports on sensitive information to ensure regulatory compliance. Communicates the roles and importance of the three lines of defense and proactively identifies regulatory risk. Qualifications
Typically between 3 - 5 years of relevant experience and post-secondary degree in related field or 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 and procedures. 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 Groups pay range and type. Salaries will vary based on location, skills, experience, education, and qualifications; may include a commission structure. Salaries for part-time roles will be pro-rated. For commission roles, the salary listed represents the expected target for the first year in this position. BMOs total compensation package may include incentives, bonuses, and other perks. Health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans are among the benefits; see Total Rewards for details: https://jobs.bmo.com/global/en/Total-Rewards About Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. We strive to create lasting, positive change for customers, communities and people. We provide tools and resources to help you reach milestones and grow your skillset, with training, coaching and support. BMO is an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable laws. BMO is committed to reasonable accommodations for individuals with disabilities. To request accommodations, please email BMOCareers.Support@bmo.com. #J-18808-Ljbffr
Responsible for assisting in the implementation, maintenance and administration of a compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure the program remains current and aligned with BMO Compliance Program. Advises business groups on regulatory developments and helps implement new/revised policies and programs to address them. Identifies risks and implements actions to mitigate them. Develops and maintains compliance information for analysis and reporting. Maintains regulatory expertise and refers to Compliance Policies & Procedures manuals for requirements. Contributes to business results by providing oversight and recommendations to monitor regulatory compliance programs, minimize operational risk and align with regulatory agencies. Responsibilities
Provides advice and guidance to assigned business group on implementation of solutions to manage regulatory risk based on 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 challenges risk assessments for business groups and assists to identify more effective compliance controls. Performs and/or challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements; supports root cause analysis in response to material control failures. Identifies, assesses, challenges and oversees the satisfactory resolution of issues, including ensuring adequate remediation plans and validation. Elevates high profile issues/risk cases to Compliance and business group management for prompt resolution. Analyzes and reports compliance information to Compliance and business group management. Maintains a high level of expertise in applicable regulations, directives and guidance; provides input on emerging risks and regulatory developments. Advises first line of defense management and employees on compliance matters; consults on new products, services and automated systems to incorporate compliance requirements. Identifies training needs and helps develop training based on gaps identified through monitoring and testing. Identifies enhancements to compliance tools and processes and communicates to required stakeholders. Represents the business group Compliance team and interacts with examiners/auditors during audits and examinations; provides regulatory perspective on Sales and Marketing materials. Anticipates and analyzes risk and consequences of unaddressed risk factors; recommends appropriate controls. Works independently on a range of complex tasks and operates effectively within a high-stress, changing environment. Accesses, monitors and reports on sensitive information to ensure regulatory compliance. Communicates the roles and importance of the three lines of defense and proactively identifies regulatory risk. Qualifications
Typically between 3 - 5 years of relevant experience and post-secondary degree in related field or 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 and procedures. 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 Groups pay range and type. Salaries will vary based on location, skills, experience, education, and qualifications; may include a commission structure. Salaries for part-time roles will be pro-rated. For commission roles, the salary listed represents the expected target for the first year in this position. BMOs total compensation package may include incentives, bonuses, and other perks. Health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans are among the benefits; see Total Rewards for details: https://jobs.bmo.com/global/en/Total-Rewards About Us
At BMO we are driven by a shared Purpose: Boldly Grow the Good in business and life. We strive to create lasting, positive change for customers, communities and people. We provide tools and resources to help you reach milestones and grow your skillset, with training, coaching and support. BMO is an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable laws. BMO is committed to reasonable accommodations for individuals with disabilities. To request accommodations, please email BMOCareers.Support@bmo.com. #J-18808-Ljbffr