Operational Risk Specialist for Wealth Management
2 weeks ago
The Operational Risk Specialist for Wealth Management will work closely with the Wealth Management business to deliver on components of the 1LOD testing plans in accordance with the Enterprise Compliance Program and Operational Non-Financial Risk Framework. This role will execute the 1LOD testing program for the Wealth Management LOBs and document results and outcomes as required.
Main Responsibilities:
• Understand Enterprise Compliance Program and Operational Non-Financial Risk methodology.
• Design and implement specific monitoring and testing procedures for each applicable area of review, which may include development of new monitoring and testing scripts.
• Understand Wealth business processes across multiple entities across North America.
• Understand controls that support regulatory compliance and manage other sources of ONFR.
• Access and update the enterprise compliance book of record GRCE.
• Communicate M&T identified issues to the businesses, 1LOD Compliance Advisory, 2LOD Compliance, 2LOD Risk.
• Raise compliance and control related awareness with the businesses and provide appropriate advice and guidance to mitigate exposures and risk.
• Identify opportunities to improve the effectiveness of testing.
• Act as a liaison and compliance support to various internal business partners across the Wealth Management businesses.
• Prepare reports and related test results dashboard for various stakeholders including management.
Requirements:
• 7+ years' experience in a compliance, control testing, or audit role ideally in a dealer and/or portfolio management environment.
• Knowledge and understanding of IIROC rules and regulations applicable to dealer representatives and OSC rules applicable to portfolio managers and investment fund managers.
• Excellent data analysis skills, organizational, analytical and communication skills.
• Exhibit strong planning skills.
• Successful completion of the Canadian Securities Course is preferred.
• Working knowledge of information technology tools required including: MS Excel, MS Word and portfolio management or investment industry software.
• Ability to demonstrate effective use of judgment, interpretation, knowledge and skill in the application of regulations and compliance requirements.
• Ability to independently deliver on complex assignments with competing deadlines.
• Excellent interpersonal skills and strong written and verbal business communication skills.
• Familiarity with Wealth regulatory requirements (e.g. OSC, IIROC, SEC, OCC, etc.).
• Familiarity with Investment Funds (key regulations include NI 81-102, 81-107, etc.).
• Experience in the planning and execution of testing (e.g. Audit, OSFI E-13, etc.).
• Understanding of risk and controls.
What We Offer:
• Competitive salary range of $68,000.00 - $126,000.00.
• Salaried pay type.
• Total compensation package may include performance-based incentives, discretionary bonuses, and other perks and rewards.
• Health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans.
About Us:
At BMO, we are driven by a shared Purpose: Boldly Grow the Good in business and life. We create lasting, positive change for our customers, our communities, and our people.
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.
Accommodations:
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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