Compliance Officer, Equity Trade Surveillance

Full job description
100 King Street West Toronto Ontario,M5X 1A1
Reporting to the Director of Trade Surveillance, the Compliance Officer assists in the effective implementation, maintenance and administration of the compliance and risk monitoring program for Global Markets (Canada). This position coordinates and performs risk assessment, monitoring and surveillance activities to ensure that the Compliance Program remains current and is aligned with the Enterprise-wide Compliance Program and Risk Appetite. The Compliance Officer works closely with the Capital Markets Line of Business (“LOB”) and other internal business partners to ensure regulatory, corporate and fiduciary obligations are met. To effectively achieve compliance goals, the Compliance Officer maintains current knowledge of regulatory requirements and developments, monitors risk and identifies and corrects possible gaps and weaknesses. This position advises LOB management on implications of new regulatory policies or Bank products, and assists in the implementation of new or revised policies and programs to address them. The Compliance Officer develops and maintains compliance information for analysis and reporting..


Compliance Program Execution and Monitoring (60%)

Perform compliance reviews with a focus on equities, in accordance with applicable securities and banking rules, makes recommendations to the LOB, and monitors for appropriate remedial action where required.

Coordinate and perform ongoing risk assessments to ensure compliance policies and risk controls are operating appropriately. Create analyses of risk assessments for LOB business group(s). Identify and analyze factors which may affect risk mitigation and compliance with applicable regulatory requirements.

Anticipate potential consequences of unaddressed risk factors or shortfalls in compliance and recommend appropriate controls. Continually challenge LOB staff through ongoing dialogue and discussion to identify opportunities to implement more effective compliance-related policies and procedures.

Elevate high profile or high-risk cases to the Compliance and LOB management to ensure visibility and prompt resolution.

Perform ongoing validation of monitoring strategies to ensure appropriate governance and control. Identify observations of trends and recommendations to optimize data.

Execute appropriate testing and analyze key performance indicators to ensure requirements of the LOB policies and programs are maintained at a level commensurate with regulatory expectations.

Support root cause analysis in response to material control failures in line(s) of business.

Prepare complete, accurate documentation of compliance monitoring and surveillance activities. Report findings to Compliance and LOB management and provide timely follow-up on outstanding issues.

Validate that issues identified through compliance monitoring and review processes are promptly addressed. Ensure that management remediation plans are adequate.

Engage in project related work necessary for regulatory reviews, remediation, or inquiries.

Provide guidance to less experienced Compliance team members in developing and implementing solutions.


Regulatory Consultation (20%)

Collaborates with compliance relationship manager to provide advisory services on compliance matters to LOB management and staff (first line of defense) for Equity Products. Work proactively with business line contacts and management toward ensuring that effective and efficient compliance risk management solutions are identified and implemented.

Review various forms, disclosures and advertisements for compliance with applicable requirements.

Assists to respond to requests from management and trading staff for situation specific advice. This may involve research on interpretations from the regulators and/or arranging information sessions.

Consult on new products, services and automated systems to assist the LOB(s) with incorporating compliance requirements into these initiatives.

Provide education, training, guidance and direction on compliance issues to employees.


Regulatory Governance (20%)

Develop and maintain a high level of expertise in all regulations, directives and guidance which apply to the LOB group(s) supported.

Provide input to LOB Compliance and LOB staff regarding emerging issues and interpretation of regulations.

Analyze BMO Capital Markets business initiatives to identify and highlight potential financial services industry regulatory, reputation and financial risks that should be considered and addressed.

Assist to formulate response to inquiries from regulators and BMO Capital Markets lines of business and employees regarding BMO Capital Markets policies and procedures and financial services industry regulatory obligations.

Identify training needs based on gaps identified through the compliance monitoring process.

Assist LOB management and staff in communicating and implementing changes to applicable regulatory policies and procedures.

Represent the LOB Compliance team and interact with examiners and auditors during internal, external and regulatory audits and examinations.


Qualifications

Bachelor’s degree and between 1 - 3 years of experience, or an equivalent combination of education and experience.

Knowledge of sales, trading or back-office processes and systems in a broker dealer environment would be an asset, including front-office and back-office applications (Bloomberg, Fidessa, Broadridge ADP, etc.).

Knowledge of financial services industry and regulations (i.e., CIRO/CSA/MX Rules) related to securities and other financial instruments trading activities (primary focus on equities and equity derivatives, with general knowledge in fixed income securities, currency, commodities, and interest rate derivatives).

Experience in equities trading, either from buy or sell side, is an asset.

Proficiency with VBA, SQL, and/or Python is an asset.

Proficiency with Power BI and other data visualization tools is an asset.

Exceptional communication skills, both oral and written.

Critical thinking.

Ability to work in a collaborative environment.

Salary:

$60,000.00 - $111,700.00

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. 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. Read more