VP, Capital Markets Supervision

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Job Family Group:

BMO Capital Markets is a leading, full-service financial services provider. We offer corporate and investment banking, treasury management, as well as research and advisory services to clients around the world. #bmocapitalmarkets

MANDATE

Capital Markets Supervision (CMS) is responsible for directing, leading, and operating the First Line of Defense’s Operating Group Compliance Program (OGCP).

The OGCP is the system of policies, processes and controls established by the First Line of Defense to achieve and sustain its risk-based compliance with applicable laws and regulatory requirements, and to ensure that the First Line of Defense responsibilities outlined in the Legal Regulatory Compliance Risk Management (LRCRM) Policy, the Enterprise Compliance Program, and the Global Compliance Manual (GCM) and supporting operating guidelines are met. 

CMS is part of the overall Risk & Regulatory Services Organization and is specifically responsible for the monitoring of trade floor activities and ensuring these activities adhere to all applicable regulations. This is achieved through transaction, data and communication reviews, risk assessments and attestations.  CMS also provides advisory services for the Line of Business on regulatory matters.

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KEY ACCOUNTABILITIES

Working directly with the Line of Business (Equity Products Trading and Sales personnel), colleagues within CMS, and Compliance, the VP will be responsible to review assigned surveillance reports, validate activity and document results.  Product lines may include, but not limited to Cash equities, listed equity derivatives, and structured products.

Additional accountabilities include maintaining a robust understanding of the regulatory obligations associated with these products and personnel, and the development and/or continued maintenance of a first line of defense (Trade Supervision) protocol for monitoring controls around them.

The VP is also accountable for helping to promote an inherent culture of compliance across Capital Markets.

Responsibilities would include:

• Review trade exception reports and trading activity to ensure compliance with appropriate rules and regulations.

• Review electronic and voice communications of employees to ensure appropriateness and adherence to defined risk policies.

• Analyze surveillance data and develop reporting of key risk indicators for internal and external stakeholder reviewers.
• Write and maintain written supervisory procedures and other procedural documents.

• Partner closely with Compliance and Supervision colleagues to monitor Regulatory developments in the context of current rules and industry trends.

• Work on ad-hoc projects related to business initiatives or regulatory developments.
• Work closely with the Compliance Group, who carries out the Second Line of Defense mandate of independent oversight and effective challenge.
• Build relationships and collaborate with other department teams such Legal, Operations, Middle Office, and Sales & Trading.
• Assist with the Regulatory Compliance Risk Assessment process, which is an on-going review of emerging issues and risks, documentation, and enhancement of controls.
• Support the team’s mandate in maintaining best in-class Supervisory Control Framework.

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KNOWLEDGE, SKILLS & REQUIREMENTS:

• 5 - 8 years of compliance, regulatory, or equity product-related experience.
• Strong product knowledge and understanding of electronic trading & sales activities and applicable regulations surrounding them
• Knowledge of the Broker Dealer and Banking Regulations, which include but not limited to SEC, FINRA, OCC, FRB, NFA and CFTC.
• Demonstrated analytical, auditing, writing, communications, and presentation skills
• Strong collaborative skills
• Excellent Excel spreadsheet manipulation and data analytic skills; familiarity with Python and other programming scripts skills a plus
• Strong relationship management skills: ability to establish and manage multiple stakeholder relationships with the business, within the three lines of defense and with corporate support functions
• Proven project management capabilities and an ability to co-ordinate the efforts of people and resources not under their direct control
• Ability to read technical compliance material and distil the applicability of the regulations to respective business unit(s)
• Ability to deal with sensitive issues with tact and discretion
• Excellent judgment and interpersonal skills, who can consult, influence, collaborate, and appropriately escalate issues
• Strong analytical skills – analyze the evidence collected on remediated controls and determine if there is substantive conformance with requirements
• Ability to communicate questions and requests in a professional and clear manner
• Operate effectively within a demanding environment with constant regulatory and audit scrutiny
• Ability to work independently, multitask efficiently and effectively, and meet tight deadlines
• Advanced educational degree is desirable – MBA, CPA, or JD.
• Professional certifications – SIE, Series 7, and 24 or ability to obtain upon hiring

Location:

Required Location: New York, NY

COMPENSATION

The salary range for this role is $120,000 up to $160,000 (subject to negotiation and subject to the candidate meeting the specific skills, experience, education, and qualification requirements).

This position is important for the future of the organization and offers an overall competitive compensation mix including base salary and incentive pay.

PRIVACY

At BMO Financial Group your privacy is our priority. Our Privacy Code outlines our commitment to you and is designed to comply with applicable Privacy legislation in Canada. To view a copy of the Bank’s privacy policy please visit our website at http://www.bmo.com, scroll to the bottom of the page and click on the Privacy link.

Salary:

Pay Type:

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

At BMO 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 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 http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to BMOCareers.Support@bmo.com and let us know the nature of your request and your contact information.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO 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.

Salary : $79,800 - $148,000