Application Deadline:

03/11/2025

Address:

100 King Street West

Job Family Group:

Customer Shared Services

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

The Associate, AML/Regulatory Testing and Operational Excellence will support the Client Onboarding (COB) program in the effective implementation, maintenance, and administration of first line of defense (1st LOD) programs (e.g., operational risk, AML, compliance, regulatory, etc.), including overseeing the monitoring of business controls to ensure adherence and efficiency. Contributes to a strong risk management culture through collaboration with other first line employees, and second & third-line functions to ensure Compliance, AML or operational risks are identified, mitigated, monitored, and reported on an ongoing basis.
Additionally, this role is responsible for leading the execution of the testing frameworks within 1st LOD. This includes planning, executing, assessing, analyzing, reporting, escalating, and monitoring action plans to closure of compliance issues. Also, you will be accountable to communicate findings to the control owners, to identify opportunities for improvement and ensure the continued operation of effective controls to ensure continued compliance and risk management.
This role will also support the on-going effort of process simplification, modernization, and optimization of our Client Onboarding (COB) program. Reporting to the Director, Operational Excellence, this role will be an advocate, advisor, and facilitator for process improvement initiatives across all functional units within COB.
The role will involve documenting Standard Operating Procedure (SOP) and leveraging Lean Six-Sigma tools to solve complex business problems. You will work on improvement projects designed to improve quality and client experience, reduce error, and facilitate standardization. Also, you will serve as a change agent for the development and implementation of major process improvement ideas throughout the entire COB organization.

RESPONSIBILITIES INCLUDE (but are not limited to):
• Lead the development, planning, and management of AML and Business Unit Compliance Testing programs.
• Works with the COB management team to implement 1st LOD programs and frameworks, developing and maintaining an in-depth understanding of the applicable regulatory and internal risk management requirements.
• Acts as a subject matter expert in the evaluation, development, and implementation of an internal control system.
• Lead the implementation of risk management programs/ frameworks while identifying and minimizing negative impacts to the business.
• Supports the management of 1st LOD program for the group in compliance with appropriate principles, standards & direction from the second line of defense groups. Includes developing and promoting program and ensuring the execution of all program components.
• Develop and maintain the annual testing plans, in conjunction with Compliance or AML Officer (“AMLO”) and other LOBs.
• Provide oversight on the controls and activities monitored by the Business Unit Compliance Officers (“BUCOs”) and AMLRO Designates and determine impact on test plans.
• Execute test scripts within the plans to ensure controls are appropriately designed and operating effectively.
• Evaluate existing testing program for efficiency and automation opportunities and develop plans for automation.
• Evaluating sampled COB files selected by Auditors/Examiners/Testers and assisting to respond to queries.
• Process Design and Development: Develop, execute, and evaluate business processes by understanding current state, assess and identify improvements through analysis and deep dives.
• Lead the development of future state and monitor the effectiveness of improvements for possible implementation.
• Develop and execute improvement action plans along with measuring process improvement benefits after changes are implemented.
• Implement, innovate, modify, and create new Standard Operating Procedures (SOP), policies and processes as appropriate. Assist in standardizing processes within the team.
• Support the development of business process and system improvement opportunities as it relates to Client Onboarding (COB).
• Conduct Post Incident Reviews (PIR) to identify root cause of process and control gaps and providing recommendations for improvement.
• Customer satisfaction – Monitor LOB partner/ key stakeholder feedback through deployment of survey and focus group and synthesize results to develop and deliver improvements to processes.
• Making process design and development recommendations to standardize, improve, or redesign processes to meet business needs.
• Monitoring, measuring, and providing feedback on process performance.
• Conducting surveys, reviewing process documentation, requirements gathering, synthesizing information, and presenting recommendation.
• Challenge the status quo to find ways to optimize performance to deliver results.
• Producing or updating Job Aides, Training Presentations, and Training Case studies in collaboration with the Training Director on areas where improvements are needed.
• Reviewing and/or updating COB procedures and/or associated forms.
• Producing management reporting on BAU activities and status.
• Assisting on larger change projects, leading smaller change projects, and/or improving BAU COB processes; in all cases, with the goal to ensure COB processes designed are clear, straightforward, and well documented to enable analysts to successfully execute on them to meet regulatory, risk, and client satisfaction objectives.
• Work with technology teams, vendors, and other Client Enablement stakeholders to implement automation designs.

KNOWLEDGE/ EXPERIENCE REQUIREMENTS:
• Seasoned capital markets professional with a solid understanding of complex financial institutions (products, business, functions, IT systems, workflows)
• 5+ years in either KYC or COB at a senior level – experience across both a strong asset
• 3+ years of experience working in requirement gathering and functional specs discovery
• Ability to track multiple projects, documenting and present status reports while working with multiple teams
• Knowledge of Broker Dealer and Banking Regulations, which include but not limited to SEC, FINRA, OCC, FRB, CFTC, IIROC, OSFI, BSA/AML, KYC, Sanctions regulatory requirement etc.
• Excellent communication, presentation, and interviewing skills to engage with business leaders, process owners and other stakeholders
• Proficiency in process mapping techniques and tools
• Understanding of investment and wholesale banking
• Understanding of control methodologies and three lines of defense
• Data and reporting skills (e.g Excel)
• Working knowledge of Credit/ Legal (e.g., ISDA) processes
• An engaging team player who is productive, proactive, and organized
• Proven managerial leadership skills including people management and supervisory skills (acquiring and balancing resources, defining roles, setting targets, measuring performance, providing feedback, etc.)

NICE TO HAVES:
• 7 years+ in financial services – exposure to UK, Ireland, US, Hong Kong, Singapore, and Canadian KYC/COB regulations a strong asset
• CAMS designation (or progressing towards same) an asset
• Lean Six Sigma designation (e.g., Green belt or Black belt)
• Knowledge of testing protocols, evidence memorialization, risk/control frameworks
• Familiarity with data manipulation techniques
• Familiarity with process mapping/flow charts
• Proven managerial leadership skills including people management and supervisory skills (acquiring and balancing resources, defining roles, setting targets, measuring performance, providing feedback, etc.)

CORE COMPETENCIES:
• Project Management - Coordinates projects by developing project plans, communicating changes and progress, completing projects on time and budget, and managing project team activities.
• Attention to Detail – Completes work in a thorough and complete manner, provides detailed information, and tracks details at all times.
• Organizing & Planning – Plans, organizes, and effectively manages to maximize efficiency and productivity. Sets goals and objectives, prioritizes, and plans work activities, identifies specific action steps and resources, anticipates problems, and develops contingency plans.
• Responsiveness – Takes action to meet the needs of others, responds timely without supervision, and minimizes delays.
• Diligence –Perseveres in accomplishing tasks or objectives and maintains a sense of urgency about getting results.
• Innovation - Displays original thinking and creativity, meets challenges with resourcefulness, generates suggestions for improving work, and effectively presents ideas and information.
• Problem Solving & Decision Making– Able to identify problems, solve them, and show good judgment by isolating causes from symptoms, gathering information from a variety of sources, compiling information and solutions, involving others as appropriate, readily committing to action, and making decisions that reflect sound judgment in a timely manner. Able to identify and choose between multiple options, work well in-group problem solving situations, understand consequences of potential decisions, and support and explain reasoning for decisions.
• Strategic Thinking – Plans and makes both long-term and day-to-day decisions within the framework of the organization’s strategic intent. Understands the factors influencing strategy (e.g., core competence, customers, competition, market trends, external threats, organizational strengths, and limitations), recognizes broad implications of issues, and adapts strategy to changing conditions.
• Leadership – Positively changes opinions and actions of others in a desired direction by providing peers and stakeholders with vision and inspiration and mobilizing them to fulfill it. Encourages others to adapt positively to change, engage in worthwhile objectives, define, and solve problems. Inspires and motivates others to perform well, effectively influences actions and opinions of others, inspires respect and trust, and displays passion and optimism. Gives appropriate recognition to others, accepts feedback from others, presents information in a persuasive manner, and clarifies information in order to gain understanding and buy-in
• Active Communications (Verbal, Written, Listening Skills) – Clearly expresses ideas, information, and concerns both verbally and in written format in both positive and negative situations. Actively listens, offers full attention when others speak, gives verbal and nonverbal cues of interest, asks questions for clarification, and paraphrases to ensure understanding. Demonstrates good presentation skills, presents information and numerical data effectively, and actively participates in meetings.
• Professionalism - Upholds organizational values, demonstrates sound business ethics, works with integrity and ethically in all situations, and always treats others with respect and consideration regardless of their status or position. Accepts responsibility for actions, reacts well under pressure, follows through on commitments, and demonstrates consistency between words and actions.

EDUCATION/CERTIFICATIONS:

• University degree and/or demonstrated equivalent experience; advanced degree preferred

The salary range for this role located in Toronto will be $75,000.00 - $90,000.00 CAD.

Salary:

$54,500.00 - $101,500.00

Pay Type:

Salaried

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 https://jobs.bmo.com/ca/en.

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.

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.