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BMO Financial Group Business Unit Compliance Officer Delegate in Chicago, Illinois

Description:

The Business Unit Compliance Officer (BUCO) Delegate provides support to the multiple pillars under BMO’s Financial Crimes Unit (FCU) : Information Security; Fraud and Physical Security. The Delegate has accountability for providing regulatory research, guidance and advice to the unit’s BUCO and other stakeholders regarding applicable laws and regulations under these pillars in support of the organization’s global Enterprise Compliance Program.

The ECP consists of multiple processes for assessing regulatory risk, monitoring those risks over time, and helping demonstrate the organizations compliance readiness through the testing of internal controls. The objective of the Program is to be both ‘exam and audit ready’ by helping in identifying existing and emerging regulatory risks and gaps in associated control processes.

Working directly in coordination with the BUCO, the Delegate engages with the functional areas within the FCU (including Information Risk, Operational/Supplier Assessment Groups, Information Security Operations and Corporate Support Areas) to understand regulatory risks associated with their functions. The Delegate also engages outside the FCU, with other functional groups that are part of the bank’s “three lines of defense”, including Corporate Compliance, Enterprise Operational Risk Management, the Privacy Office, Outsourcing and Supplier Governance, Business Continuity, Operational Risk Officers and the Canadian / US Business Units to provide leadership for the effective management of the Canadian / US / International regulatory programs related to the FCU pillars.

Functionally, this role is responsible for ongoing communication and monitoring of issues with regulatory impact arising for examinations, inspections and internal audits; assisting with updating various books of record (Archer, ERCS, CORE) for tracking and reporting status through closure/remediation. They will also be responsible for monitoring changes in existing regulations and identifying and assessing new regulatory requirements in order to help maintain a fulsome compliance posture against the macro environment. The Delegate will also assist in periodic regulatory risk assessments and monitoring activities and controls testing, all of which are to be thoroughly documented to withstand effective challenge by various oversight groups (Corporate Service Areas and Audit). The Delegate will also lead or assist in other compliance related tasks, such as training assessments and compliance questionnaires related to internal policies and standards.

Key Accountabilities

Provides support to the BUCO on the following activities:

  • Identifies regulatory requirements and determines the impact of those requirements

  • Ongoing review of regulatory requirements/changes

  • Updates program on new developments

  • Recommends actions to respond to new or changing requirements

  • Reviews and co-ordinates BMOFG’s position on proposed amendments to existing legislation and proposed new legislation, working within existing organization processes for responding to regulatory proposals

  • Implements new compliance programs or adjusts existing programs as required

  • Develops the framework and plans to ensure changes are appropriately implemented within FCU

  • Documents the programs as required by the regulatory guidance and/or bank policies/standards

  • Reviews all Corporate Policy and Standard changes to ensure the programs are current with Bank Policies and Standards

  • Drafts the program documentation for review by key stakeholders

  • Facilitates that review of the documentation by key stakeholders

  • Helps obtain necessary approvals for the programs

  • Helps ensure that an effective Risk Assessment Program is maintained that meets the requirements of any pillar related regulatory programs in Canada / US / International

  • Establishes criteria for Business Unit monitoring and testing controls

  • Establishes the annual monitoring and testing plans for the FCU compliance program

  • Manages the resolution of potential delays to the execution of the monitoring and testing plan by escalating issues

  • Review results of monitoring and testing programs that support or provide information related to the pillars related regulatory programs for Canada / US / International

  • Reviews reports from risk assessments to remain informed on the type of issues that are being identified in risk assessments

  • Analyzes reporting from Corporate Audit, Corporate Compliance, Information Security, Privacy, Information Management, Business Continuity and Business Units to ensure all components of the programs are being effectively administered

  • Identify systemic issues and make recommendations to the BUCO and Management

  • Monitors completion of corrective action plans for issues identified in risk assessments, audits and regulatory exams

  • Assesses and Reports on the state of compliance for pillar related regulatory programs

  • Prepare and provide as assigned updates as required to applicable steering committees, regulators, CSAs and risk management committees/forums

  • Reports on key developments and their application to the FCU programs

  • Represents as assigned on program matters internally and with external organizations

  • Performs special projects as assigned

Qualifications:

a) Knowledge & Experience

  • Approximately 3-5 years industry experience in high risk operations

  • Working level knowledge of Information Security, Fraud operations, Privacy, Risk Management, Technology standards and support procedures, and understanding of industry best practices and audit requirements or external regulatory requirements including PCI and Sarbanes-Oxley (SOX).

  • University degree or equivalent

  • Ability to interpret the broad perspective of regulatory issues applicable to the multiple FCU pillars across the organization

  • Working business and industry knowledge

  • An understanding of the Global Regulatory environment

b) Skills and Abilities

  • Strong relationship management skills

  • Results oriented

  • Works independently and takes initiative

  • Creative, strategic thinker with ability to manage short, medium and long term goals

  • Strong project management and analytical skills

  • Strong written and verbal communication skills

  • Tolerant of diverse, complex and ambiguous issues and situations

We’re here to help

At BMO Harris Bank we have a shared purpose; we put the customer at the center of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.

As a member of the BMO Harris Bank 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://bmoharriscareers.com .

BMO Harris Bank 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. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Job Field:

Compliance

Job Schedule:

full-time

Primary Location:

United States-Illinois-Chicago

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