Associate Director, Compliance,Collections Associate Director, Compliance,Collections …

BMO Financial Group
in Naperville, IL, United States
Permanent, Full time
Be the first to apply
BMO Financial Group
in Naperville, IL, United States
Permanent, Full time
Be the first to apply
Associate Director, Compliance,Collections
Associate Director, Risk and Compliance (US Collections) Naperville, IL, USA/en-US/External/job/Naperville-IL-USA/Associate-Director--Risk-and-Compliance--US-Collections-_R200007513-1/apply


1200 E. Warrenville Road

Job Family Group:

Business Management

We are open to consider qualified candidates that reside in the Chicago, or Naperville IL area as well as those who reside in the Brookfield WI area.

Reporting into the Director, Risk and Compliance T&O Risk and Internal Controls this job, with support from 2nd Line Compliance and Operational Risk Management, will be the central point of contact for all Operations Compliance and Operational Risk Management, AML, tax, legal matters and for the US Collections group. The incumbent will support regulatory projects and act as a point of facilitation and escalation for day to day operations compliance and operational risk management matters. Be accountable in the development and execution of the Operations strategic plans in support of the organizations objectives and key initiatives.

With support from 2nd Line Compliance, Operational Risk Management and the Director, Risk and Compliance - TORIC, lead the enhancement and maintenance of the Banks Enterprise Compliance Program and Operational Risk Management Framework within applicable Operations group identifying any gaps that may surface; Lead a cross group remediation program for any gaps in compliance control and reporting activities.

The incumbent also ensures the effective rule interpretation and exercises due diligence in providing support across US Collections.

Specifically, this role provides support in 5 major areas:

1. Integration of business complexities within Compliance Have expert knowledge and understanding of the Business Units product line that require a substantially higher level of compliance controls experience. Identify inherent risks in processes and ensure that new products and initiatives have the right controls in place. Evaluate processes, test control capabilities and identify gaps.

2. Compliance Business Unit Compliance Officer will support the compliance testing program and subsequent sub compliance programs, including interfaces with operational business leads, regulatory bodies and internal compliance groups.

3. Controls Accountable for monitoring, tracking and reporting on regulatory audits. Ensure adherence to regulatory operations guidelines as well as other key internal controls for the assessable units.

4. Operational Risk Management Accountable for the on-going Operational Risk Management Framework requirements in support of Us Collections.

5. Relationship Management liaise with various levels of management across Operations

Key Accountabilities:

Enterprise Compliance Program (ECP) / Operational Risk Management Framework (ORMF)

  • Assist line management with identifying applicable regulatory requirements for business operations within the OGLs area of responsibility;
  • Facilitate the measurement of risk through a Regulatory Compliance Risk Assessment, in accordance with the ECP, for each applicable regulatory requirement and a Risk and Controls Self Assessment in accordance with the ORMF. This includes working closely with line management to determine the existence, quality and reliability of preventative and detective controls designed to comply with such requirements and developing action plans when deficiencies are identified;
  • Develop and execute appropriate compliance monitoring and testing activities, in accordance with the ECP, to ensure controls are evaluated using a risk-based approach;
  • Advise line management on the design and implementation of required controls, including policies & procedures, technological/system functions, monitoring and testing, training and processes;
  • Communicate to Management and the Compliance Team Leader (CTL) when they become aware of Operating Group (OG) developments which may impact the operation of the OGCP and/or OG regulatory risk profile, including self-identified regulatory events and regulatory requirements;
  • Record and escalate new issues, as is required under the ECP and the ORMF, to OGL, Compliance / Operational Risk Management and other applicable governance bodies, as may be required;
  • Advise line management on actions required to address compliance issues, including any required remediation activity and control enhancements. Monitor and report on progress of remediation of such issues;
  • Ensure required compliance training is conducted to educate applicable staff on the compliance risks inherent in their areas of operations;
  • In accordance with the , advise line management on regulatory developments, including new laws, regulations, regulatory guidelines or other industry developments. This includes leading any required assessments to identify gaps against such requirements;
  • Support and participate in any compliance related regulatory examinations conducted within the assigned area of responsibility;
  • Ensure appropriate compliance risk oversight of third-parties that create compliance risk; and
  • Engage Compliance, Legal and/or Risk personnel on appropriate matters in a timely manner.

Business Leadership:

  • Participate with TORIC Risk and Compliance Management team in developing and implementing business strategies and focusing on core capabilities business processes that provide competitive advantage from a regulatory compliance perspective; identifying, evaluating and taking advantage of opportunities to realize new synergies and economies of scale.
  • Understand and keep ahead of the evolution of the business while ensuring sustainability of BMO competitive advantage, including major process changes (short term and up to 5 years out)
  • Participate and contribute to management team in business and strategic planning. Represent Risk and Compliance in the context of day-to-day business initiatives
  • Participate in defining the strategies, annual goals and objectives for areas of accountability over a period of time.

Operations Compliance:

  • Participate in continuous process improvements and high-quality standards with a focus on responsiveness to the internal/external customer and process controls. Areas of focus include: customizing processes and procedures to facilitate unique product/customer solutions; identifying and implementing internal and external best practices; rationalizing distribution points, locations, and premises; leveraging technology to enable efficiencies and improvements in delivery

Subject Matter Expert in dealing with the complexity of operational regulatory compliance, focused on US Collections matters dealing directly with business leads, other Operations pillars and other key stakeholders (Risk Management, Compliance, tax, Legal, Audit, Finance, etc.)

  • Build partnerships with internal clients and other business stakeholders, build relationships with internal and external auditors and regulators; build relationships and networks with counterparts at competitive financial institutions

Knowledge and Skills:

University degree/college diploma or equivalent work experience

  • 7-10+ years of related Compliance or Collection operations experience
  • Knowledge of standard desktop applications used by the business unit
  • Expert knowledge and understanding of the business units product line
  • Expert understanding of the business units risk and regulatory requirements
  • Experience/knowledge with one or more areas required: CFPB and OCC
  • Advanced knowledge of departmental systems and applications
  • Advanced knowledge of process and/or project management
  • Banking Industry experience
  • Expert strategic visioning
  • Advanced project management skills
  • Expert problem-solving and analytical skills
  • Expert decision-making skills
  • Expert prioritization skills
  • Expert customer service and relationship management skills
  • Expert managerial leadership skills

Were here to help

At BMO Harris Bank 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 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. Well 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, well help you gain valuable experience, and broaden your skillset.

To find out more visit us at .

BMO Harris Bank is committed to an inclusive, equitable and accessible workplace. By learning from each others 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.

Posted TodayFull timeR200007513 BMO Financial Group

Serving customers for 200 years and counting, BMO is a highly diversified financial services provider the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets, our North American investment and corporate banking division.

In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets, our North American investment and corporate banking division.

We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.
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