Manager, Wealth Management Canada AML

at  BMO Financial Group

JOB DESCRIPTION

The Advisor, Wealth Management AML, with guidance from the Senior Manager and AMLRO, is responsible for directing, leading and operating the AML Program across the Wealth Management Line of Business (LOB) / Legal Entities (LE). Utilizing an understanding of both AML / ATF regulatory requirements and AML risk management requirements, the role is accountable to ensure the assessment of their impact from ‘end-to-end’ (i.e. from product origination through fulfillment) to processes, as assigned, throughout the OG. The role builds and maintains a network of relationships with business partners across the bank and the AML Reporting Officer (AMLRO) for the OG to monitor the end-to-end AML regulatory and risk management profile and provide regular reports on the status of the AML program in the OG. The Manager is a designed subject matter expert for 1st line AML compliance supporting the business.
With support from the Senior Manager, Wealth Management AML, the Manager provides AML advice and guidance for projects and initiatives which mitigate AML risk posed by the customers, products and operating geographies within Wealth Management. The Manager must possess knowledge of Wealth Management products and activities. As required by the Senior Manager and Head of AML, the Manager liaises with various corporate functions and LOB/LE Senior Management highlighting AML risks in the LOB/LE including regulatory exposure, material initiatives and systems issues or weaknesses in the control infrastructure. The individual acts as a key driver for change by reviewing and assessing AML legislation and risk management expectations. The role works closely with the Senior Manager, Wealth Management AML and leads projects which provide direction to develop, execute and monitor controls to ensure AML compliance and risk management requirements are managed. The Senior Manager also assists in the identification and management of AML risk typologies for the LEs/LOBs.
The Manager supports the regular reporting on the state of AML compliance for LOBs / LEs and the OG as a whole. This role also serves as an interface for investigative units throughout the Bank to conduct their accountabilities. The role identifies emerging AML risks within industry which may impact the investigations conducted by groups across Bank and raises these concerns on a proactive basis to train and improve the knowledge possessed by these groups.
Within the mandate of this role and BMO’s three lines of defense model, the Manager, with support from the Senior Manager and AMLRO, ensures business decisions and activities fall within the risk appetite of the Bank, and that internal controls are in place and functioning effectively to support management decision-making that protects our assets and adheres to applicable corporate policies, operating directives, laws and regulations (including risk, compliance, and AML).
Key Accountabilities

KNOWLEDGE

• University Degree or equivalent with 3 years+ experience in an AML compliance or compliance related function, regulatory body, or equivalent business experience
• Knowledge of Wealth Management products, services, processes, and organization
• Knowledge of AML regulations, formal guidance, and regulatory expectations, CAMS designation preferred
• Knowledge of risk management practices

SKILLS

• In-depth research and analytical skills
• Proven communication and relationship building skills
• Planning and organizing skills and ability to manage multiple priorities
• Ability to influence and perform a challenge function
• Strong logic and data integration skills

Please refer the Job description for details