Director - Broker Dealer Regulatory Reporting and Oversight

100 King Street West Toronto Ontario,M5X 1A1

Additional Job Description

Experiencing the dynamic world of one of Canada's largest broker dealers offers a unique perspective. The continual evolution of activities provides a rich array of exposures and challenges. This role involves close interaction with various departments including the front office (trading desk), investment bankers, and other areas such as Capital Markets, Treasury, Finance, and Operations.

**Director - Broker Dealer Regulatory Oversight**

The role oversees all regulatory requirements for BMO Nesbitt Burns and certain affiliates. The key oversight will be over CIRO regulatory capital, financial reporting and margin rules. Knowledge of central clearing firm regulatory requirements a plus (CDS, CDCC, Option Clearing Corp). Knowledge of the Canadian Investment protection Fund requirements, CMHC capital requirements important as well.

The individual is expected to be both an expert in internal controls oversight and design, an expert on regulatory rules and their practical interpretation. The individual must have a knowledge of various Capital Markets and Wealth management source systems, and also a conceptual understanding of brokerage systems and the ability to extract data from them.

The individual will oversee a team that calculates daily margin on all BMO Nesbitt proprietary positions in various source systems, new issues, the monthly reporting processes for the regulatory financial statements, the ongoing monitoring of internal controls requirements as per regulatory requirements.

Day to Day Role
- Manage a team of five that:

- Captures the daily CIRO capital calculation as it pertains to complex proprietary positions at the broker dealer (including complex offsets and rule interpretation)
- New issues capital
- Daily Risk Adjusted Capital and Early Warning reserve calculations for the dealer
- The Monthly Financial regulatory filing with CIRO
- Annual Statement of Asset Location with CIPF
- Provides strategic input into business decisions as a trusted advisor
- Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the dealer and dealer regulatory requirements
- Indirect oversight over multiple teams across BMO Financial Group that provide input inti daily/weekly/monthly capital reporting from various source systems including
- Collateral teams (Securities lending, Repo)
- Operations teams
- Middle Office
- Front Office
- Retail Client and Prime Brokerage
- Accounting and Finance

This includes reviewing their processes on a periodic basis and opining on their regulatory margin interpretations, internal controls. Also, initiating and overseeing the implementation of new products or processes introduced to the broker dealer

The role will also:

- Demonstrate an ability to view transactional data or extract data in source systems
- Effectively manage teams and influence groups across a matrix reporting structure
- Provide thought leadership on rule interpretation, capital adequacy, margin adequacy, internal control development
- Support Product review in multiple source systems, including:

- Equities, fixed income, options, financing, futures, swaps, OTC derivatives
- Demonstrate a deep understanding of Internal controls oversight and requisite documentation
- Demonstrate an expert understanding of CIRO Form 1 schedules, related regulations and requisite reporting process
- Review the reporting program/processes for effectiveness, considers industry trends and recommends enhancements; makes changes as required
- Develop and manage comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting
- Present to senior management, front office trading desk heads
- Participate in long term projects with effective influence to ensure regulatory timelines and compliance are met
- Integrate information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting
- Develop and manage comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.
- ** Qualifications**:

- CIRO CFO Exam
- CIRO CFO experience preferred
- CPA /Auditor
- Experience managing large audits
- Typically 10+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
- Seasoned professional with a combination of education, experience and industry knowledge.
- Verbal & written communication skills - In-depth / Expert.
- Analytical and problem solving skills - In-depth / Expert.
- Influence skills - In-depth / Expert.
- Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
- Able to manage ambiguity.
- Data driven decision making - In-depth / Expert.

**Salary**:
$121,600.00 - $211,800.00

**Pay Type**:
Salaried

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