Associate Compliance Officer, Trade Surveillance (1-year Contract)

at  BMO Financial Group

QUALIFICATIONS:

• 1+ years of relevant experience in compliance, operational risk management of financial risk. Previous industry experience with a CIRO Dealer Member is an asset, including ability to conduct suitability assessments.
• Bachelor’s degree required.
• Recognized compliance certifications or completion of CSC/IFIC and BCO course, or equivalent, preferred.
• Knowledge of regulatory requirements, codes, and standards, in particular CIRO Rule 200.
• Ability to multi-task between multiple and ongoing responsibilities and assignments.
• Proven ability in exercising independent judgment and applying prudent risk mitigation principles.
• Excellent verbal and written communication skills.
• Strong critical thinking, relationship management, research, and project management skills
• Ability to meet deliverables in tight timeframes.
• Proficiency in Microsoft applications such as Excel, Word, PowerPoint, Power BI, etc.
• Exhibits flexibility and adaptability.
• Work mostly independently.

KEY RESPONSIBILITIES:

• Conduct, monitor and document daily and monthly 2nd Line reviews of BMO Investments Inc. (BMOII) client account activity with a focus on Head Office criteria, as outlined in CIRO Policies and other regulatory/corporate guidelines.
• Analyse and report on compliance data; identify trends developing in trading of specific dealing representatives (RISRs) and/or client accounts with an emphasis on suitability, concentration, potential conflicts of interest and unusual transactions, conducting detailed analysis and escalating concerns to the Senior Compliance Manager where necessary.
• Issue and follow up on queries from daily and monthly reviews with BMOII RISRs and Branch Compliance Officers.
• Ensure that required actions arising from reviews are completed within reasonable timeframes and records are appropriately filed, evidencing findings, developments and actions taken.
• Advise first line of defense management and employees on compliance matters; provide guidance and support to RISRs and branch office staff as needed regarding compliance policies and procedures, including effectively communicating requirements.
• Develop and maintain a high level of expertise in all regulations, directives and guidance which apply to BMOII Trade Surveillance and refer to Compliance Policies & Procedures manuals for specific requirements.
• Advise first line of defense management and employees on compliance matters and provide input on emerging risks, regulatory developments, and interpretation of regulations.
• Conduct and/or effectively challenge risk assessments for business/group and assist to identify more effective compliance controls.
• Anticipate, identify, and analyse risk and consequences of unaddressed risk factors/ compliance gaps and recommends appropriate controls.
• Operate effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.
• Access, monitor and report on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.
• Think creatively and propose solutions. Exercise judgment to identify, diagnose, and solve problems within given rules.
• Broader work, special projects or accountabilities may be assigned as needed.
• Participate in initiatives to advance LRC’s broader strategic priorities.