BMO Financial Group Senior Counsel, Regulatory Liaison, Enterprise Regulatory Office in Chicago, Illinois
TheEnterprise Regulatory Office (“ERO”) supports the BMO enterprise and helps BMOmeet its regulatory obligations. EROprovides legal advice on regulatory matters, provides leadership and guidanceon regulatory examinations and interactions, oversees BMO’s regulatorydevelopment committees and regulatory development framework, and reports to theboard of directors on significant matters.
TheSenior Counsel, Regulatory Liaison, role supports ERO in the U.S. and at a BMOenterprise level. The role is an attorney position in ERO focused on regulatoryliaison activities. The role will assist in maintaining key relationships withU.S. regulators, oversee and advise on regulatory examination activity andsupervisory activities, stay abreast of the current supervisory environments,and report on current and upcoming supervisory trends and themes. The rolereports directly to the U.S. Chief Regulatory Officer.
TheRegulatory Liaison function within ERO maintains relationships and oversees thesupervisory examination process with key regulators, including:
Providesthe advice, guidance, and procedures for management of key regulatoryexamination and supervisory activities;
Helpsprepare and support the business during regulatory examination and supervisoryactivities;
Overseesresponses to supervisory matters and provides input on action plans to addressdeficiencies, as appropriate;
Interfacesdirectly with the supervisory teams of key regulators to ensure appropriateinformation flow and maintain regulatory relationships;
Supportsthe overall ERO function in identifying trends and themes in the supervisoryand regulatory environment; and
SupportsBMO U.S. CEO and BFC COO in regulatory relationship responsibilities, monitorsremediation activities and provides appropriate updates, as necessary, to U.S.management and BFC board of directors or committees.
Developand maintain relationships with key regulators across BMO US Operations
SupportBMO's US Operations in interactions with regulators to ensure BMO stays abreastof supervisory trends and themes and take any actions to address them.
Managethe submission of responses to supervisory matters and provide input on actionplans to address deficiencies and matters requiring attention and relatedreporting, as appropriate.
Assistin identifying supervisory and regulatory themes and trends both in the U.S.and across BMO.
Prepare,as necessary, reports and presentations on supervisory activities and exampreparation, including ERO reports on cross-jurisdictional issues and trends.
Scope and Impact
Therole is U.S. jurisdictional. The role has direct or indirect impacts on thefollowing:
Abilityto execute strategic objectives
The role is complex as a result of number of different businesses and thenumber of separate legal entities that comprise the business of the bank, thefact that many of these businesses are highly regulated by specific regulatoryregimes and regulators, many of which differ by jurisdiction (province, state,country), the global nature of the business of the bank, the number ofimportant regulators, the amount of relevant regulation and the magnitude ofregulatory change. Failure to fullyunderstand and demonstrate an understanding of regulatory environment mayimpact the bank’s ability to execute on key strategic objectives.
Relationship with other employees in ERO, both in the U.S. and Canada.
BFC COO and other U.S. senior leaders of lines of business and corporate areas
Key regulators in the U.S.
Senior attorneys at other large financial institutions with a view tounderstanding regulatory landscape
Key industry associations
Knowledge and Skills
4-8 years’ experience in financial services
Good knowledge of US financial services legislation and regulation
Good knowledge of US regulatory landscape and priorities
We’re here to help
At BMO Harris Bank we have a shared purpose; we put the customer at the center of everything we do – helping people is in our DNA. For 200 years we have thought about the future—the future of our customers, our communities and our people. We help our customers and our communities by working together, innovating and pushing boundaries to bring them our very best every day. Together we’re changing the way people think about a bank.
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.
To find out more visit us at https://bmoharriscareers.com .
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.
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