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Vice President, Regulatory Developments, Intake & Analysis
BMO Financial Group
Ontario Toronto, , Canada
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Mandate:
Working with the Director of Regulatory Developments, Intake and Analysis and supporting the First Line of Defense, Regulatory Developments and Programs Group, this role is responsible for monitoring, assessing, communicating and assisting Capital Markets Lines of Business to prepare for new and changing regulatory requirements. The role requires an individual who has strong analytical capabilities, is an effective communicator and shows a willingness to acquire new skills and industry knowledge.
SPECIFIC ACCOUNTABILITIES
• Monitor and track regulatory changes applicable to BMO Capital Markets;
• Assess the potential impact of all applicable regulatory change to Capital Markets and communicate a summary of the same to stakeholders in Compliance, the Legal Group,Regulatory Governance, Conduct and Transformation (“RGCT”) and Lines of Business.
• Participate in weekly working group to discuss preliminary plan for implementing change required by applicable regulatory developments, and assign preliminary ownershi
• Prepare material for monthly Regulatory Development Committee, including
• Impact of regulatory change/proposed amendment
• Recommend the potential course of action the Bank should adopt (e.g. change in processes, new policies/procedures…etc.);
• Track positions taken by the members of the Committee and document the action (s) taken by the Bank;
• Once the impact assessment is completed and the proposed new rule or amendment is finalized, assist with the transition to the appropriate project team;
• Monitor and track applicable regulatory change from identification through implementation;
• Ensure new regulations are properly embedded in the Enterprise Compliance Framework;
• Provide advice to the Lines of Business on potential regulatory changes and emerging regulatory trends;
• Participate in the Requests for Comments response process to regulators on behalf of BMO Capital Markets First Line by:
• Meeting with affected and interested stakeholders in the LOBs (including the BUCOs) to ensure BMO Capital Markets’ views are reflected in the response;
• Drafting the Response on behalf of BMO Capital Markets where applicable and obtain the required approvals before providing the response to the regulator.
• Assist with management reporting on regulatory development matters where required.
Qualifications
KNOWLEDGE AND SKILLS AND REQUIREMENTS:
• 7+ years of relevant business experience, preferably in Capital Markets
• J.D. or equivalent preferred
• Ability to process complex legislative/regulatory matters and apply it operationally
• Excellent project management skills
• Excellent oral and written communication skills
• Excellent presentation, writing and analytical skills; ability to dissect and distill complex industry rules and regulations effectively in terms that would resonate with employees at all levels of the business.
• Ability to work with various jurisdictional regulations
• Strong interpersonal skills; demonstrated ability to drive consensus across business groups and deal with challenging situations at all levels of the business in a resilient, confident and practical manner
• Excellent problem-solving skills; ability to analyze and determine potential impact to people, processes and technology
• Demonstrated success of obtaining results in a complex global organization, including evidencing the ability to influence others
• Familiarity with risk management principles and philosophies
• Self-motivated and well-organized
• Able to prioritize tasks and work well under pressure
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.