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About the Role

This role is within the Fixed Income, Currencies, and Commodities (“FICC”) Compliance group in New York, focusing on Swap Dealer and Security-Based Swap Dealer requirements and oversight. The position involves collaborating with business lines and internal partners to ensure regulatory, corporate, and fiduciary obligations are met. Key responsibilities include staying current on regulatory developments, monitoring risk and trade surveillance, and identifying and rectifying compliance gaps.

Responsibilities

Support the implementation, maintenance, and administration of the Swap Dealer and Security-Based Swap Dealer compliance program.
Coordinate and perform risk assessment, monitoring, testing, and surveillance activities.
Partner with business lines and internal groups to meet regulatory, corporate, and fiduciary obligations.
Advise on new regulatory developments, internal products, and revise policies and controls.
Identify and mitigate risks.
Develop and maintain compliance information for analysis and reporting.
Provide oversight and recommendations to enhance compliance monitoring, reduce risk, and align with regulatory rules.
Provide advice and guidance to business lines on implementing solutions aligned to regulatory risk appetite and business needs.
Consult on new products, services, and automated systems to ensure compliance requirements are incorporated.
Ensure effective compliance controls that support business objectives and identify enhancements to tools and processes.
Monitor emerging risks, issues, and regulatory developments, providing insights to inform decision-making.
Build and maintain strong relationships with internal stakeholders and regulators.
Conduct and challenge risk assessments and perform or oversee monitoring and testing to ensure controls are effective and aligned with requirements.
Ascertain/develop training based on identified gaps.
Identify, assess, and oversee resolution of compliance issues, including root cause analysis, remediation plans, validation, and escalation of material concerns.
Analyze and report compliance data and risk insights to management.
Maintain expertise in applicable regulations and provide interpretive guidance to the business.
Advise first line of defense on compliance matters and reinforce the three lines of defense framework.
Represent the business/group Compliance team and interact with examiners/auditors during internal, external, and regulatory audits and examinations.
Operate independently to assess risk, solve problems, and manage non-routine situations in a dynamic, high-pressure environment.

Requirements

Strong knowledge of applicable Swap Dealer and Security-Based Swap Dealer (“SD” and “SBSD”) laws, rules, and regulations with the ability to assess firm impact.
Firm understanding of business operations & procedures, and activities involving documented practices associated with SD and SBSD activities.
Prior experience with a regulatory entity or SRO is a plus but not required (e.g. NFA, FINRA, SEC, etc.).
Deep knowledge and technical proficiency gained through extensive education and business experience.
Collaboration, team skills, and ability to constructively influence is highly valued.
Data-driven decision making is valued.

Skills

Communication
Critical thinking
Relationship management
Project management
Verbal & written communication
Analytical skills
Problem-solving skills

Location

New York

Work Type

Hybrid

Experience Level

3-5 years of relevant experience

Education Level

Post-secondary degree
Recognized compliance certificate or equivalent preferred
SIE, Series 7, 63 considered a plus

Salary/Compensations

$63,300.00 - $117,200.00

Benefits

Health insurance
Tuition reimbursement
Accident and life insurance
Retirement savings plans

About the Company

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

Equal Opportunity

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.