Director, Regulatory Services, Capital Markets

BMO New York , NY 10007

Posted 2 weeks ago

The regulatory services group is a group that provides specialized support to manage, in conjunction with Capital Markets, Compliance and Technology, the key regulatory reporting services required by the senior regulators of BMO and its subsidiaries, globally.

The regulatory reporting processes are the regulatory mandated requirements for Banks and Dealers to comply with a significant number of trade reporting processes, often under time restrictions from the point of trade.

The group consists of senior Middle Office specialists based in the main centres for BMO's Capital Markets activities (Toronto, Montreal, New York, London).

This role in New York, reporting to the Managing Director, Regulatory Services, will be accountable for:

  • Understanding the critical regulatory rules and key business processes for the US regulatory environment.

  • Directing, and engaging in, critical regulatory projects to implement new reporting processes, or to implement changes to regulatory rules.

  • Managing and monitoring the critical regulatory reporting processes required for US regulatory compliance

  • Engaging in new initiatives to ensure that new products and strategies include provisions to cover for any existing required regulatory processes, or processes to create in a sustainable way new regulatory reporting processes required for that product or strategy

  • Working within the global Regulatory Services group to ensure that Capital Markets required reporting is coordinated, consistent and complete across regions.

  • Working with key partners from Capital Markets, Compliance, Technology and regional Management to ensure that BMO meets all requirements from the regulators in a consistent, organized and complete manner.

  • Engage in meetings with regulators as required to demonstrate or explain BMO regulatory reporting processes

Role will include working within a close, experience senior team and also dealing in a competent and professional manner with BMO internal partners. Must maintain close working relationships in a productive, outcomes based manner, with critical BMO partners.

1.Provide thought leadership in the development of sound regulatory reporting practices.

  • Lead and manage a small team specializing in capital markets regulatory reporting focusing on US regulatory requirements but supporting the global regulatory reporting team

  • Provide subject matter expertise and guidance on the bank's regulatory reporting framework to ensure that appropriate governance and controls are maintained, are responsive to regulatory change, and are supported by sound procedures, accountabilities and escalation practices.

  • Participate in, and support, global initiatives to ensure that a common standard of practices and governance is employed across the Bank's processes.

  • Participate and represent BMO in industry forums.
    2.Manage US regional regulatory reporting programs

  • Oversee the continuous establishment and management of US based regulatory reporting programs fulfilling BMO and BMO subsidiary (US broker dealer) transactional reporting commitments governed by senior US securities regulators. Participate (with Capital Markets, Legal and Compliance) in the review of internal programs and changes to regulatory requirements to ensure risks are identified and processes are implemented to maintain continued compliance with regulatory rules.

  • Socialize and present monitoring reviews, escalations and project updated where required in US forums to relevant stakeholders (e.g. Front Office, Compliance, Legal, Technology and Operations senior forums). to key stakeholders Continually improve and enhance the regulatory reporting program through partnership with internal stakeholders, external research into best practices
    3.Lead Regulatory Reporting Special Projects.

  • Lead end- to end special projects to enhance reporting processes, implement changes in response to regulatory change, or to respond to identified governance remediations. Lead and/or represent Regulatory Reporting Services as a SME, on key compliance projects to drive continuous improvement including analyzing problems and generating creative solutions by collaborating, providing leadership, as well as managing projects, as required (i.e. risk assessment for new product development)

  • Monitor, analyze, and communicate opportunities for continuous improvement, including recommending solutions

  • Support and/or deliver change management initiatives related to framework changes, processes, systems, or regulatory requirements.

  • Assist in the development and maintenance of regulatory programs
    4.Foster & Promote strong risk management culture.

  • Drive optimal transparency and responsiveness on relevant compliance risks.

  • Promote a common understanding of risk practices and risk exposures.

  • Support a healthy tension and mutual respect between the lines of business or Corporate Support Areas and the regulatory reporting function.

  • Support appropriate governance and escalation processes required to support regulatory compliance.

  • Anticipate and prepare for emerging regulatory developments and promote effective relationships with regulators to ensure BMO meets current and evolving regulatory requirements.

  • Assist the enterprise in delivering against heightened regulatory expectations.


To deliver on these accountabilities, the incumbent must have the following authorities.

  • Recommending make recommendations to the leadership team regarding strategic issues related to change management.

  • Recommending - input to corporate policies and standards and processes.

  • Escalating regulatory reporting issues.

  • Advising provide solicited and unsolicited advice on enterprise and Banking Group on corporate/regulatory requirements.

  • Monitoring of practices, processes, mitigation to ensure compliance with corporate and regulatory requirements.

  • Challenging provide management assessment of the group's risk profiles and challenge business leaders to ensure adherence to acceptable risk standards.

  • Monitoring to be informed of risk reporting; audit and compliance reviews; Banking Group processes, practices and activities related to regulatory reporting.

  • Service providing create tools and processes that ensure compliance with regulatory requirements and bank policy and that facilitate efficiencies and economies in managing regulatory reporting risk.

  • Coordinating information required to create reports and risk profiles.


  • Extensive expertise in regulatory reporting management and strategy processes.

  • Undergraduate university degree and an MBA, or equivalent experience.

  • Exposure to retail/wholesale banking.

  • Expert knowledge of regulatory environment

  • Extensive experience working within an Operating Group or Corporate Services.

  • Strong knowledge and understanding of BMO Financial Group's structure:

  • BMO and Operating Group organization.

  • Interrelationships and changes occurring within the enterprise.

  • BMO policy framework, related processes and control frameworks.

  • Related risk frameworks (credit, market, etc.) and risk management practices.

  • Expert understanding of multi-jurisdictional regulatory environment and trends.

  • Business acumen and financial expertise including an understanding of business practices

  • Experience in roles requiring developing and implementing regulatory compliance frameworks and management oversight


  • Leadership, strategic vision and planning ability.

  • Excellent conceptualization, presentation and communication skills

  • Strong ability to influence others.

  • Strong ability to work across 1st and 2nd lines of defense.

  • People Management

  • Sound judgment and strong analytical skills to identify opportunities for enterprise collaboration.

  • Highly developed relationship management, negotiation and leadership skills.

  • Excellent team building skills, both as a leader and as a team player.

  • Excellent communication skills in working with senior executives, managers, auditors and regulators.

  • Strong logic and data integration skills.

  • Strong critical thinking.

  • Ability to identify and implement appropriate risk governance and control mechanisms.

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 futurethe 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

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 is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.


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