Wealth Management Compliance Manager

4 weeks ago

Toronto, Ontario, Canada BMO Full time

Job Overview

The Manager of Anti-Money Laundering (AML) within Wealth Management is tasked with overseeing and executing the AML Program across various business lines and legal entities. This role requires a comprehensive understanding of AML and Anti-Terrorist Financing (ATF) regulations, ensuring that all processes from product inception to fulfillment are compliant and effective.

In collaboration with the Senior Manager and the AML Reporting Officer, the Manager will cultivate relationships with business partners to monitor and report on the AML compliance status. This position serves as a critical resource for AML compliance, providing expert guidance to mitigate risks associated with clients, products, and operational regions.

Key Responsibilities

  • Deliver expert advice on AML regulations and program modifications impacting various business lines.
  • Oversee the operation of the AML Regulatory Compliance Management Framework, ensuring all regulatory guidance is current.
  • Communicate AML-related issues arising from business operations, including customer and transaction concerns.
  • Design and implement a robust assessment program for new initiatives, advising on AML compliance and necessary action plans.

Relationship Management

  • Foster and maintain productive relationships with key stakeholders to ensure AML issues are promptly identified and addressed.
  • Collaborate with other AML functions to provide comprehensive support and information on risk management.
  • Provide insights and counsel to decision-makers regarding AML risk management.
  • Stay informed about business developments to ensure AML support aligns with operational needs.

Risk Management and Compliance

  • Advise on emerging AML trends and developments, ensuring all impacts are thoroughly evaluated.
  • Develop communication and training initiatives to enhance AML awareness across business lines.

Innovation and Change Management

  • Monitor changes in AML legislation and assess their implications, guiding necessary adjustments in policies and processes.
  • Evaluate new product initiatives for inherent risks and recommend mitigation strategies.

Qualifications

  • A university degree or equivalent, with a minimum of three years of experience in AML compliance or a related field.
  • Strong knowledge of Wealth Management products and services.
  • Familiarity with AML regulations and risk management practices; CAMS designation is preferred.
  • Exceptional analytical, communication, and relationship-building skills.

Compensation and Benefits

The salary range for this position is $68,000 to $126,000, with additional performance-based incentives and a comprehensive benefits package.

BMO is committed to fostering an inclusive and accessible workplace, ensuring that all employees feel valued and respected.

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