Senior Compliance Officer - Fixed Income

BMO Harris New York , NY 10007

Posted 4 weeks ago

Address:

135 West 41st Street

Job Family Group:

Audit, Risk & Compliance

We are hiring! Our team is growing its Fixed Income Compliance team in New York with a focus on FINRA and SEC broker-dealer requirements and corresponding oversight.

Please note that this is a hybrid work arrangement.

We are looking for someone to work closely with the Fixed Income, Currencies, and Commodities ("FICC") LOBs and other internal business partners to ensure regulatory, corporate and fiduciary obligations are met. You will have a specific focus on compliance oversight over BMO's Fixed Income activities, and maintain current knowledge of regulatory requirements and developments, monitoring risk/trade surveillance, and identifying and corrects possible gaps and weaknesses. Our particular focus will be the Securitized Products Business within FICC.

Assists in the implementation, maintenance and administration of a specific compliance program. Coordinates and performs risk assessment, monitoring, testing and surveillance activities to ensure program remains current and aligned with BMO Compliance Program. Works with business/group and internal partners to ensure regulatory, corporate and fiduciary obligations are met. Advises business/group on implications of new regulatory developments or internal products, and assists to implement new/revised policies and programs to address them. Identifies risks and implements appropriate actions to mitigate them. 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 group, 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.

  • Provides advice and guidance to assigned business/group on implementation of solutions aligned to regulatory risk appetite based on an understanding of business operations and stakeholder needs.

  • Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.

  • Influences to achieve effective regulatory compliance controls that enable business objectives.

  • Identifies and advises on emerging issues and trends to inform decision-making.

  • Helps determine business priorities and best sequence for execution of business/group strategy.

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

  • Analyses and reports on compliance data, and related data to gain insights on regulatory risk.

  • Oversees the development and maintenance of guidelines and procedures, providing advice/rulings as necessary, for a single function within a geographic area.

  • Participates in the design, implementation and management of core business/group processes.

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

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

  • Supports root cause analysis in response to material control failures in business/group.

  • Identifies, assesses, effectively challenges and oversees the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation.

  • Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.

  • Analyzes and reports compliance information to Compliance and business/group management.

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

  • Provides input to business/group on emerging risks, regulatory developments and interpretation of regulations.

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

  • Performs and/or effectively challenges monitoring and testing activities to ensure regulatory compliance controls are operating and aligned to regulatory requirements. Supports root cause analysis in response to material control failures in business/group.

  • Identifies, assesses, effectively challenges and provides oversight on the satisfactory resolution of issues, including ensuring adequate management remediation plans and validation. Elevates high profile issues/risk cases to Compliance and business/group management for prompt resolution.

  • Analyzes and reports compliance information to Compliance and business/group management.

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

  • Consults on new products, services and automated systems to assist with incorporating compliance requirements into these initiatives.

  • Ascertains training needs and helps develop training based on gaps identified through the compliance monitoring and testing.

  • Identifies enhancements to business group compliance tools and processes and communicates to required stakeholders.

  • Assists business group management in communicating and implementing changes to applicable regulatory policies and procedures.

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

  • Provides regulatory perspective on business group's sales and marketing materials.

  • Anticipates/ identifies and analyses risk and consequences of unaddressed risk factors/ compliance gaps, and recommends appropriate controls.

  • Builds effective professional relationships with business/groups.

  • Operates effectively within a high stress environment with constantly changing expectations and regulatory & audit scrutiny.

  • Accesses, monitors and reports on sensitive Bank, customer, transactional and employee information to ensure compliance with regulatory requirements.

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

  • Focus is primarily on business/group within BMO; may have broader, enterprise-wide focus.

  • Provides specialized consulting, analytical and technical support.

  • Exercises judgment to identify, diagnose, and solve problems within given rules.

  • Works independently and regularly handles non-routine situations.

  • Broader work or accountabilities may be assigned as needed.

Qualifications:

  • Fixed Income compliance experience at a Broker-Dealer desired.

  • Functional knowledge of multiple FICC market activities preferred including:

Primary Dealer, GSEs, Trade reporting (TRACE), communications, supervision, best execution/order handling, and Market Access, desired.

  • Experience in regulatory requirements surrounding Securitized Products and Mortgage Back Securities preferred, but not required.

  • Strong knowledge of applicable securities laws, rules and regulations with the ability to assess firm impact. Specifically, Federal Reserve, FINRA, US Treasury, SEC, and FHLB. Series 7, 63, 24, a plus.

  • Typically minimum of 6 years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

  • Recognized compliance certificate or equivalent preferred.

  • Detailed knowledge of consumer protection regulations and related marketing and advertising guidelines.

  • Skilled knowledge of regulatory/ compliance requirements and the operations of a single client group.

  • May require experience at regulatory body for one or more compliance area(s).

  • Strong communication, critical thinking, relationship management and project management skills.

  • Deep knowledge and technical proficiency gained through extensive education and business experience.

  • Verbal & written communication skills

  • In-depth.
  • Collaboration & team skills
  • In-depth.
  • Analytical and problem solving skills
  • In-depth.
  • Influence skills
  • In-depth.
  • Data driven decision making
  • In-depth.

Compensation & Benefits:

Hiring range: $120,000 - $150,000. The base salary range represents the anticipated low and high end of the BMO Financial Group's salary range for this position. Actual salaries will vary and will be based on various factors, such as skill, experience and qualification for the role. This position is also eligible for a bonus plan.

The base salary and potential bonus is one component of BMO Financial Group's total compensation package for employees. Other rewards and benefits include health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: www.bmousbenefits.com.

We're here to help

At BMO Harris Bank we are driven by a shared Purpose: Boldly Grow the Good in business and life. It calls on us to create lasting, positive change for our customers, our communities and our people. By working together, innovating and pushing boundaries, we transform lives and businesses, and power economic growth around the world.

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://jobs.bmoharris.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.

Note to Recruiters: BMO Harris Bank does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO Harris Bank, directly or indirectly, will be considered BMO Harris Bank property. BMO Harris Bank will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.


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Senior Compliance Officer - Fixed Income

BMO Harris