Compliance Officer - Regulatory Compliance Testing

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The Canadian Regulatory Compliance Testing (RCT) team within the Legal, Regulatory and Compliance Group (LRC) has an opening for a Compliance Officer who will be responsible for designing, 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 Compliance Officer will be responsible for planning and executing 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 the Enterprise Compliance Program (ECP) is being applied appropriately, and that lines of business are meeting their overall legislative and regulatory requirements. The position works closely with Compliance Senior Management and internal stakeholders, supporting and assisting in the development of an effective Testing Program across the Enterprise. To be effective in the role, the 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.

Regulatory Compliance Testing (80%)

• Execute on assigned independent compliance reviews / tests. 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.

• Broader work or accountabilities may be assigned as needed.

Regulatory Governance (20%)

• 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.

​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.

• Strong critical thinking, relationship management, research and project management skills

• Ability to meet deliverables in tight timeframes

• Exhibits flexibility and adaptability

• 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.

• This job requires in-person attendance at 100 King Street West in Toronto for 2 days per week.

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

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.

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.