Manager, Operations and Compliance, Everyday Banking
The Manager, Operations and Compliance, is responsible for supporting the Everyday Banking business teams in the management of an effective control environment by supporting regulatory, legal, reputational and operational risk related to Everyday Banking, its products, processes and services. The incumbent will be responsible for monitoring Everyday Banking policies and product agreements are effective and aligned regulatory requirements and identifying operational and regulatory risks and develop action plans and leading remediation efforts.
This role consults and liaises with cross-functional stakeholder teams providing business point of view, assessing risk / compliance and sizing and identifying downstream impacts to business, employee and customer of regulatory changes.
As a subject matter expert, Manager, Operations and Compliance, Everyday Banking is accountable to promote a culture of compliance and provide counsel on the implementation of the most effective approach related to procedures, systems, documentation and controls with the view to achieve an optimal balance between the needs of our business, customers and risk environment.
Business Governance and Management
•Develop and maintain a high level of expertise in all regulations, directives and guidance which apply to the Everyday Banking business
•Counsel on emerging issues and interpretation of regulations
•Consult on new or enhancements to products, programs, processes and systems to assist with incorporating compliance requirements
•Work proactively with cross functional teams to ensure that effective compliance risk management solutions are identified and implemented
•Monitor and report on the resolution and closure of operational risk and regulatory compliance issue action plans
•Execute and coordinate remediation plans
•Ensure all Everyday Banking policies, systems, and product agreements are effective and aligned with our Risk appetite and business objectives and with regulatory requirements.
•Support the implementation of solutions to address operational effectiveness, internal control breakdowns or external events, including providing ongoing leadership, subject matter expertise and guidance to support specific event management recovery initiatives.
•Support all compliance and operational risk- related matters for Everyday Banking, such as Risk & Control Self-Assessment, Operational Risk Event Reporting,
Manage relationships with business stakeholders
•Maintain and develop streamlined business processes to enhance risk and regulatory compliance interactions
To deliver on the accountabilities, this role has the following authorities:
•Information Access - Authority to use and access confidential information through various BMO legacy systems related to employee information, customer information, product and financial information
•Advisory - Authority to provide advice and counsel to his/her colleagues on business governance and controls
•Coordinating - Authority to coordinate work and/or call people together to discuss/resolve issues. Can persuade people to change course and/or act in concert with each other
Scope and Impact
•This job contributes to Everyday Banking overall compliance and operational effectiveness
Cross Functional Relationships
This role requires the incumbent to interact with the following processes and/or groups for the purposes of advising and interpreting information, coordinating, reviewing and prescribing recommendations:
•Various 1st and 2nd line Risk & Compliance Functions (ie. Legal & Regulatory Compliance, Operational Risk and Credit Risk)
•Sales, Private Bank, Branches and Contact Centre
•Customer Experience and Workforce Effectiveness
•Process & Digitization
•Technology & Operations, including Personal & Business Banking Product Operations Qualifications
Knowledge and Skills
• Minimum 3 to 5 years of experience related compliance and risk management and undergraduate degree preferred.
• In-depth knowledge of personal banking products, systems, and procedures a plus
• Working knowledge of regulations pertinent to Everyday Banking
• Strong interpersonal and communication (verbal and written) skills
• Strong analytical and creative problem solving skills
• Sound judgment and independent decision-making skills
• Strong time management, planning and organizing skills to manage multiple priorities We're here to help
At BMO we have a shared purpose; we put the customer at the centre 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 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://bmocareers.com .
BMO 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. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.