Director, AML Officer

3 weeks ago

Toronto, Canada BMO Full time
Application Deadline:

02/08/2024

Address:
100 King Street West

Join our team in the dynamic and ever-evolving world of AML oversight As Director, AML Officer (Wealth Management), you'll oversee the end-to-end effectiveness of our AML program for specific Operating Groups / legal entities, reporting to regulators and subsidiary boards. This position requires a deep understanding of AML, wealth management businesses, and exceptional senior-level communication skills.

Navigating the complexities of wealth management, you will work with diverse legal entities, including insurance, broker-dealers, private banks, trust companies, investment advisors, and asset managers. Your expertise in AML controls specific to each business type will be invaluable in ensuring compliance and mitigating risks. We're seeking a candidate who excels in AML, understands the intricacies of wealth management, and possesses the ability to communicate confidently with executives.

This position is located in Toronto and offers a hybrid work arrangement with at least 2 days per week on-site and other days remote.

If you're looking for your next dream job, consider this one in BMO's ERPM Risk group where every colleague helps protect and grow the bank by providing independent review and oversight of enterprise-wide risks, working together to maintain a risk management framework and fostering a strong risk culture. #ERPMDreamJobs

Provides oversight, monitoring and reporting on money laundering (ML), terrorist financing (TF) and sanctions risks for a designated portfolio (Wealth Management) and supports various Enterprise AML strategic initiatives. Develops and monitors risk management framework that includes the governance framework & practices leveraged across BMO to manage ML,TF and sanctions risks. Provides policies & standards, methodologies and controls that increase transparency, accuracy and consistency across groups. Works with stakeholders to implement the methodology, metrics and program standards for the assigned portfolio to ensure compliance as well as effective monitoring, timely reporting and identification of action plans.
  • Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.
  • Ensures alignment between values and behaviour that fosters diversity and inclusion.
  • Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.
  • Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
  • Attracts, retains, and enables the career development of top talent.
  • Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.
  • Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
  • Develops an expert understanding of business/group challenges.
  • Networks with industry contacts to gather competitive insights and best practices.
  • Recommends measures to improve organizational effectiveness.
  • May consult to or serve on various committees and task forces.
  • Interprets new regulations and assesses impacts to the governance framework.
  • Influences and negotiates to achieve business objectives.
  • Identifies emerging issues and trends to inform decision-making.
  • Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
  • Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals.
  • Measures the effectiveness of risk governance system and framework; recommends changes as required.
  • Acts as the prime contact for internal/external stakeholder relationships, which may include regulators.
  • Ensures alignment between stakeholders.
  • Represents the risk program / governance structure during internal/external regulatory audits and/or examinations.
  • Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
  • Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
  • Assesses and adapts existing operational programs; develops new capabilities to ensure ongoing success.
  • Manages the review and sign-off process for relevant regulatory reporting.
  • May provide specialized support for other internal and external regulatory requirements.
  • Administers and maintains financial crime risk program activities in adherence to all policies, procedures and established processes.
  • Identifies potential risk situations/ impacts, and make recommendations or escalates to the manager, as per guidelines.
  • Develops and maintains in-depth knowledge of business and related risk management requirements and legislative/ regulatory directives and guidance.
  • Builds effective relationships with internal/external stakeholders e.g. business stakeholders and Corporate Support Areas (CSAs) in providing 'second line of defense' financial crime risk management support.
  • Manages databases and provides support for analysis, forecasting and/or data visualization, ensuring adherence with data governance standards.
  • Analyzes data and information to provide insights and recommendations; includes identification of risk impacts for new processes and workflows related to initiatives.
  • Coordinates and monitors the review and sign-off of attestations and reporting.
  • Maintains tools and templates for financial crime risk programs (e.g., AML Legislative Compliance Program), as required.
  • Operates at a group/enterprise-wide level and serves as a senior specialist resource across BMO.
  • Influences how teams/groups work together.
  • Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.
  • Communicates abstract concepts in simple terms.
  • Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
  • Anticipates trends and responds by implementing appropriate changes.
  • Broader work or accountabilities may be assigned as needed.

    Qualifications:
  • Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • Expert knowledge of financial crime risk management practices.
  • Expert knowledge of the designated business / product portfolio.
  • Expert knowledge of regulatory requirements.
  • Expert knowledge of quantitative techniques and economic capital methodologies.
  • Expert knowledge & experience with risk policy frameworks; quality control / testing frameworks.
  • Seasoned expert with extensive industry knowledge.
  • Technical leader viewed as a thought leader for innovation.
  • Verbal & written communication skills - Expert.
  • Analytical and problem solving skills - Expert.
  • Influence skills - Expert.
  • Collaboration & team skills; with a focus on cross-group collaboration - Expert.
  • Able to manage ambiguity.
  • Data driven decision making - Expert.

Grade:
9
Job Category:
People Manager / Gestionnaire
We're here to help

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.

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.

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