01/02/2025

Address:

151 W 42nd Street

Job Family Group:

Business Management

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

MANDATE

Capital Markets Supervision is responsible for directing, leading and operating the First Line of Defense’s Operating Group Compliance Program (OGCP).

An OGCP is the system of policies, processes and controls established by the First Line of Defense to achieve and sustain its risk-based compliance with applicable laws and regulatory requirements and to ensure that the First Line of Defense responsibilities outlined in the Legal Regulatory Compliance Risk Management (LRCRM) Policy, the Enterprise Compliance Program and the Global Compliance Manual (GCM) and supporting operating guidelines are met. 

CM Supervision is part of the overall Risk & Regulatory Services Organization and is specifically responsible for the monitoring of trade floor activities and ensuring activities adhere to all applicable regulations. This is achieved through the utilization of various tools including daily checklists, transaction reviews, communication revews, risk assessments and attestations.

The Director, CM Supervision will have responsibility for BMO Capital Markets CM Supervision.  In this role, the Director will work closely with the LOB (Lines of Business), primarily supporting the Fixed Income business and Primary Dealer, to assess, analyze, update regulatory matters and ensure appropriate controls are in place and updated in GRCE to mitigate risk and increase the potential for revenue. The incumbent will act as a liaison between several groups and the LOB, Compliance, Legal, Enterprise Risk, and Audit.

KEY ACCOUNTABILITIES

Working with and reporting to the Director responsible for Fixed Income North America Capital Markets Supervision to ensure the business is operating in accordance with regulatory requirements,  of specifically, (FINRA) Financial Industry Regulatory Authority, (SEC)  Securities and Exchange Commission,  (FDR) The Federal Reserve  (OSFI) Office of the Superintendent of Financial Institutions. The Director is responsible to understand and interpret such rules and established reports and surveillance, validate activity, document observations and results. The successful candidate must be able to recognize when to escalate activity that appears to be outside the boundaries of compliance with such regulatory requirements. Line(s) of business include but are not limited to Global Markets - Sales and Trading in US Treasuries (Primary Dealer), Global Credit, Financial Resource Management (Money Markets / Repo), Global Origination and Syndication.

Additional accountabilities will include a robust understanding of the regulatory obligations associated with the products and personnel, and the development and/or continued maintenance of a first line of defense (CM Supervision) protocol for monitoring associated controls. Managing direct reports and ensuring proper surveillance and  coverage of Global Markets businesses.

The Director CM Supervision is also accountable for helping to promote an inherent culture of compliance across Global Markets sales and trading such that resources may be committed toward proactive rather than reactive gap analysis.

The Director CM Supervision will work closely with internal partners and stakeholders  across Capital Markets  to support adherence to all applicable regulations.

A non-exhaustive list of duties is as follows:  

• Perform electronic written and voice reviews of employees to ensure appropriateness of communications
• Review surveillance alerts and reports; document and address  anomalies.
• 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.
• Manage direct reports

AUTHORITIES: 

The Director CM 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 the Director believes are relevant for the effective execution of the CM Supervision remit ;
• Attend meetings their manager believes are relevant for an effective execution of the program.
• Appropriate access to all levels of Management in their assigned AU(s) as well as GMO, Legal and Compliance Group, as required
• Direct access to Trading Desk Heads and Business Managers for escalation &/or clarification of Trading Activities.

CROSS-FUNCTIONAL RELATIONSHIPS:

• The Director CM Supervision will work closely with the Compliance Group, which carries out the Second Line of Defense mandate of independent oversight and effective challenge.
• Participate in other projects as necessary to support the CM Supervision remit.

Advising

• This role is authorized to interact with other enterprise partners for the purpose of providing unsolicited advice to relevant stakeholders.

Auditing

• This role is authorized to be informed of the activities of other functional remits. If it is determined that the activities are not aligned with policy, the incumbent has authority to escalate as appropriate.

Monitoring

• This role is authorized to be informed of the activities of other functional remits and is mandated is to escalate when deemed necessary.

KNOWLEDGE, SKILLS & Personal Attributes

Knowledge:

• University undergraduate degree is required but a graduate degree and/or professional designation is preferred – MBA, CFA or JD…etc.

• Professional certifications are required and\ or must be obtained – FINRA Series 7, Series 24 and Series 63
• Minimum 5 years of business experience or experience in a Compliance or Regulatory function covering a major Broker-Dealer.
• In depth knowledge of BMO Capital Markets products and services including related functions and responsibilities of support groups and stakeholders (e.g., Compliance, Operations, Legal, etc.)
• Knowledgeable of the various regulatory risks and controls associated with Capital Markets’ business activities, including market risk, credit risk, operational risk.
• Knowledgeable regarding BMO Capital Markets structure, infrastructure, products, services and technology.
• Strong understanding of current and horizonal issues of the regulatory industry.

Skills:

• Exceptional analytical skills.
• Proven ability to conceptualize regulatory initiatives and to guide those initiatives as daily business requirements for the group.
• Maintain a clear holistic organizational view of actual and potential regulatory business risks.
• Ability to advocate persuasively and to negotiate with influence to effect change in areas without direct reporting status to the incumbent.
• Highly developed written and oral communication skills. Proficiency in communicating policies and procedures in a clear and concise manner.
• Expertise in computer applications and database management tools including, but not limited to, MS Excel and MS Word, Actimize and a proficiency in MS PowerPoint would be a plus.
• Exceptional ability to independently manage multiple priorities and to proactively service multiple clients in a fast-paced environment.
• Ability to work independently to support achievement of Capital Markets business management objectives.
• Ability to work a demanding schedule under limited supervision.
• Excellent attention to detail and ability to learn and adapt quickly.
• Ability to review, assess, and provide detailed information daily as an independent thinker.
• Ability to recognize material differences between planned execution and actual practice

Personal Attributes

• Strong interpersonal skills, even temperament and ability to exercise sensible judgment to consult, influence, collaborate, and appropriately escalate issues within a demanding team environment.
• Calm under pressure, ability to exercise efficient time management and address competing priorities under limited supervision.
• Excellent attention to detail and ability to learn and adapt quickly.
• Analyze detailed information and apply independent thinking.

Location: Capital Market Trading Floor

In order to perform the CM Supervisory duties effectively, physical presence is required on the Trading Floor in New York.

COMPENSATION

This position is important for the future of the organization and offers an overall competitive compensation mix including base salary range of $180,000.00-$200,000.00 USD and incentive pay.

PRIVACY

At BMO Financial Group your privacy is our priority. Our Privacy Code outlines our commitment to you and is designed to comply with applicable Privacy legislation in Canada. To view a copy of the Bank’s privacy policy please visit our website at http://www.bmo.com, scroll to the bottom of the page and click on the Privacy link.

Salary:

$110,000.00 - $204,100.00

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 http://jobs.bmo.com/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

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.