Application Deadline:

Address:

320 S Canal Street

Job Family Group:

Audit, Risk & Compliance

The Enterprise Regulatory Office (“ERO”), within Legal & Regulatory Compliance (“LRC”), supports the Bank of Montreal (“BMO”) enterprise and helps BMO meet both its regulatory obligations and its supervisors’ expectations. ERO provides leadership and guidance with respect to regulatory interactions, provides advice and oversight regarding regulatory examinations and the remediation of supervisory findings, advises with respect to legal and regulatory matters, and reports to senior management and the board of directors on significant matters.

The Head of U.S. Regulatory Relations, within ERO, will report directly to the Chief Regulatory Officer, will be a primary contact with the U.S. regulators, and will lead a team of regulatory liaisons.  The role will be responsible for fostering and maintaining key relationships with U.S. regulators, as well as providing oversight and advice with respect to regulatory interactions at all levels of the bank. The role will advise with respect to regulatory examinations, reviews, and remediation activities, stay abreast of the current supervisory environment, and report on current and upcoming supervisory trends and themes.

 More specifically, the Head of U.S. Regulatory Relations will engage in the following:

Interact directly with both regulators and bank officers to facilitate the regulators’ understanding of the bank’s businesses, risk management, and strategies.Provide advice, guidance, and procedures for management of key regulatory examination and supervisory activities.Oversee and coordinate responses to supervisory findings and provide advice and input with respect to required remediation.Manage official communications with the U.S. regulators.Manage a team of individuals, including regulatory liaisons, within the ERO.Support the Chief Regulatory Officer and the overall ERO function by providing updates regarding U.S. supervisory activity and identifying and reporting trends and themes in the supervisory and regulatory environment.Support BMO Financial Corp. (“BFC”) and BMO Bank N.A. (“BBNA”) executive management in regulatory relationship responsibilities, monitor regulatory and supervisory activities, and provide appropriate updates, as necessary, to U.S. management and committees.Inform and provide reporting to management, as necessary.

Scope and Impact

The jurisdiction of the role is the U.S.

The role has direct or indirect impacts on the following:

Legal RiskRegulatory RiskReputational RiskU.S. Regulatory RelationshipsAbility to execute strategic objectives

The role is complex as a result of the highly regulated nature of the financial industry, the breadth and nature of BMO’s various businesses, the complexity of both the supervisory environment and the business environment, the number and variety of regulatory regimes and regulators, and the magnitude and pace of regulatory change. Failure to fully understand and demonstrate an understanding of supervisory expectations and the regulatory environment may impact the bank’s ability to execute on key strategic objectives.  

Key Relationships

Internal
Other employees in ERO and LRC, both in the U.S. and Canada
BFC and BBNA management and senior leaders of U.S. lines of business and corporate areas

External
Key regulators in the U.S.
Individuals at other financial institutions to further understanding the regulatory landscape
Key industry associations

                                                                                         

Knowledge and Skills

10+ years’ experience in financial servicesBachelor’s Degree required; Master’s or Law Degree preferredGood knowledge of U.S. supervisory and regulatory landscape and prioritiesDirect work experience with, or knowledge of, the Federal Reserve Bank and OCC preferred.

Salary:

$150,700.00 - $261,800.00

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 BMOCareers.Support@bmo.com 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.