Vice President (Business Unit Compliance Officer), Trade Floor Supervision – Equity Products

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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

KEY ACCOUNTABILITIES

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Working directly with the Vice President responsible for Trade Floor Supervision of US Equity Sales and Trading team to ensure the business is operating in accordance with regulatory requirements from agencies including SEC, FINRA, OCC, FRB, CFTC, IIROC, and exchanges. The BUCO is responsible to understand and interpret such rules and establish reports and surveillance, validate activity, and document observations and results. This candidate must be able to recognize when to escalate any activity that appears to be outside the boundaries of compliance with such regulatory requirements. Product lines may include, but not limited to cash equities (including program/algo trading), listed equity derivatives, and structured products.

Additional accountabilities will include a robust understanding of the regulatory obligations associated with these products and personnel, and the development and/or continued maintenance of a first line of defense (Trade Supervision) protocol for monitoring controls around them.

The BUCO is also accountable for helping to promote an inherent culture of compliance across Capital Markets Trading Products so that resources may be committed toward proactive rather than reactive gap analysis.

The BUCO will work closely with the Line of Business in this delegated function as well as with the other members of Trade Floor Supervision and 2nd line Compliance partners to support adherence to all applicable regulations.

The BUCO will be expected to:

• Review surveillance reports, documents and report anomalies and trends
• Assist in maintaining up-to-date policies and procedures
• Partner closely with Compliance and Supervision colleagues in order to monitor Regulatory developments in the context of current rules and industry trends
• Advise Desk Heads on regulatory impacts to proposed strategies and transactions

AUTHORITIES:

The BUCO, U.S. Trade Floor Supervision, will have the following authorities:

• Ability to challenge others about any action in an appropriate and balanced manner. They should also be able to follow-up on any concern, question or issue that may arise.
• Overall understanding of the Operating Group and/or assigned Assessable Unit(s) (“AU(s)”)
• Direct access to all operations within their assigned AU(s), which includes access to all documents if the Vice President believes are relevant for the effective execution of their compliance responsibilities;
• Attend meetings that are relevant for an effective execution of the program.
• Appropriate access to all levels of Management in their assigned AU(s) as well as the OGL and the Compliance Group, as required
• Direct access to Trading Desk Heads and Business Managers for escalation &/or clarification of Trading Activities.

CROSS-FUNCTIONAL RELATIONSHIPS:

• The BUCO of U.S. Trade Floor Supervision will work closely with the Compliance Group, who carries out the Second Line of Defense mandate of independent oversight and effective challenge.
• Participate in other projects as necessary to support the Trade Floor Supervision function
• Additionally, the Vice President will maintain active and ongoing dialogue with the U.S. Legal Entity Executives.

KNOWLEDGE, SKILLS & REQUIREMENTS:

• Strong product knowledge and understanding of trading activities and applicable regulations.
• Solid knowledge of the Broker Dealer and Banking Regulations, which include but are not limited to SEC, FINRA, OCC, FRB, CFTC, IIROC, OSFI, etc.
• Strong written and oral communication skills
• Strong collaborative skills
• Excellent Excel spreadsheet manipulation and data analytic skills
• Strong relationship management skills; ability to establish and manage multiple stakeholder relationships with the business, within the three lines of defense and with corporate support functions
• Proven project management capabilities and an ability to co-ordinate the efforts of people and resources not under their direct control
• Ability to read technical compliance material and distil the applicability of the regulations to respective business unit(s)
• Demonstrated analytical, auditing, writing, communications and presentation skills
• Ability to deal with sensitive issues with tact and discretion
• Excellent judgment and interpersonal skills, who can consult, influence, collaborate, appropriately escalate issues
• Strong analytical skills – analyze the evidence collected on remediated controls and determine if there is substantive conformance with requirements
• Ability to recognize material differences between planned execution and actual practice
• Ability to communicate questions and requests in a professional and clear manner
• Advanced educational degree is desirable (CFA, MBA, CPA, or JD) as well as FINRA licensing (Series 7, 24)

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As a member of the BMO Harris Bank 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.

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BMO Harris Bank 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. BMO Harris Bank N.A. is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.