Senior Compliance Manager, Regulatory Compliance Testing

Application Deadline:

04/29/2025

Address:

320 S Canal Street

Job Family Group:

Audit, Risk & Compliance

Assists in the implementation, maintenance and administration of the regulatory compliance testing program. Independently conducts regulatory compliance testing engagements to critically assess management and internal processes/controls to ensure programs remains current and aligned with relevant regulatory requirements and the BMO Compliance Program. Works with business groups and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Takes a consistent risk-based approach for evaluating the management and mitigation of regulatory risks across the Enterprise. Reports on results of testing activities to provide clear, concise and memorable insights on issues and potential issues to assist management in fulfilling mandates. Provide assurance that the Bank remains in compliance with regulatory requirements in accordance with risk appetite. Develops and maintains compliance information for analysis and reporting. Achieves compliance goals by maintaining current knowledge of regulatory requirements and developments. Maintains functional and regulatory expertise specific to business groups, and refers to Compliance Policies & Procedures manuals for requirements. Contributes to business/group results by providing oversight and making recommendations that significantly impact the Bank’s ability to monitor regulatory compliance programs, minimize operational risk and align with regulatory agencies.

Responsibilities:

• Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviors in all that they do.

• Ensures alignment between values and behavior that fosters diversity and inclusion.

• Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.

• Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.

• Attracts, retains, and enables the career development of top talent.

• Provides proactive leadership and direction to team members as may be required.

• Provides feedback supporting or completing performance assessments.

• Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.

• Continues to develop a highly engaged team with specialized expertise.

• Ascertains training needs and helps develop training based on gaps identified.

• Hires and onboards new team members.

• Communicates the roles and importance of each of the three lines of defense, and proactively identifies regulatory risk.

• Advises first line of defense management and employees on compliance matters.

• Develops and maintains a high level of expertise in all regulations, directives and guidance which apply to the group(s) supported.

• Provides input on emerging risks, regulatory developments and interpretation of regulations.

• May network with industry contacts to gain competitive insights and best practices.

• Represents the Regulatory Compliance Testing team and interacts with examiners/auditors during internal, external and regulatory audits and examinations.

• Builds effective professional relationships with business groups, internal/external stakeholders and trust with regulators.

• Acts as a subject matter expert on relevant regulations and policies.

• Maintains working knowledge of the industry, regulatory, broad economic environment, and internal environment, to obtain an understanding of risks across the testing landscape.

• Develops an annual test plan which is well aligned to business strategies and encompasses appropriate areas of focus based upon top and emerging business and regulatory risks.

• Analyses, reviews and reports compliance data and associated data to Compliance and business group management.

• Anticipates, identifies and analyses risk and consequences of unaddressed risk factors, compliance gaps, and the appropriateness of controls.

• Effectively challenges risk assessments for business/group and assists to identify more effective compliance controls.

• Assesses and effectively challenges monitoring and testing activities to ensure compliance controls are operating and aligned to regulatory requirements.

• Develops insightful discussion points contributing to compliance testin