Associate, Canadian Regulatory Reporting

BMO Financial Group - Toronto, ON (30+ days ago)

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Manage and/or monitor a complex portfolio of work representing a significant amount of risk. Provide services and/or support in one or more product/ process/ control areas within a specific product group, and ensure adherence to related regulatory and Bank policies and procedures (P&Ps). Accountable for functions that require specialized handling and skills, act as the key escalation point for product group business challenges, and apply in- depth product knowledge to ensure consistency and effectiveness of service and support and effective management of risk and controls.

Act as a key control over critical business activities related to the area of expertise, with a significant involvement in analyzing and advising on the business implications of options, to facilitate effective and comprehensive understanding of business decisions. This role meets operational and financial objectives within a six- to twelve- month time horizon.

Key Areas of Accountability:
A.Product & Process
B.Risk & Control
C.Business Performance Management


A.Product & Process
B.Risk & Control
C.Business Performance Management

A.Proudct & Process
Manage and resolve day-to-day issues specific to area(s) of expertise, including resolving complex internal business partner and/or external customer issues; escalate more complex issues to the manager if necessary.
Coordinate and schedule work flow which leads to approving transactions, and act as the main escalation point for business challenges, as delegated.
Assign work to team/ staff members, ensure adequate work flow and meet various cut-off times during the day, as delegated.
Manage and monitor a complex portfolio of work representing a significant amount of risk.
Act in an advisory capacity, as a subject matter expert (SME), to senior managers on the implications of proposed business decisions related to area(s) of expertise.
Lead activities, as a SME, for new work related to the assigned function. Participate in projects related to area(s) of expertise.
Provide guidance and support to related business units regarding procedures for area(s) of expertise. Maintain relationships with industry contacts (internal and external), regulatory officials and external consultants for purposes of enhancing business effectiveness within the scope of accountability.
Provide timely analysis of information and reports on assigned area(s) of expertise to ensure compliance with terms and conditions and ongoing maintenance of risk within acceptable levels.
Continuously assess and improve the operational effectiveness of the portfolio within prescribed limits.

Consult with experts inside and/or outside the business unit regarding complex or unusual transactions and developments concerning area(s) of expertise.
Identify and recommend business process improvement efforts related to area(s) of expertise.
Resolve operating/ technical problems within area(s) of expertise. Participate in resolution of problems outside of direct authority.
Handle and resolve complex matters, core business critical issues, disputes, queries and complaints from internal business partners and external customers.
Represent BMO on industry committees.

B.Risk & Control
  • Maintain key controls and review processes, where applicable, to ensure operating integrity, comply with internal and external regulators, involving an understanding of regulatory and compliance requirements as prescribed for the business unit; provide recommendations and implement corrective actions to ensure adherence as required.
  • Identify potential risk situations within the scope of work (e.g., risk assessments), make recommendations and/or escalate to the manager, where appropriate, and ensure contingency plans exist.
  • Develop, document and maintain standards, processes and controls in area(s) of expertise in order to minimize loss/ risk, ensure all regulatory requirements are met, and safeguard the assets of the Bank.
  • Understand risks inherent in area(s) of expertise and take appropriate actions, including accuracy and safeguarding of all documentation and any other requirements to ensure operational integrity is maintained within the business.
  • Ensure adherence to all aspects of FirstPrinciples, Our Code of Business Conduct and Ethics Corporate Policy, as well as all applicable legislation, regulatory rules and requirements, and Bank standards, policies and procedures (P&Ps) for such things as potential conflicts of interest, safeguarding of customer information, trading in securities, anti-money laundering, privacy and disclosure of outside business activities.
  • Ensure strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with Bank P&Ps.
  • Follow security and safeguarding procedures
  • Contribute to the management of risk and minimize losses through monitoring and controlling various reports and taking appropriate action, ensuring compliance requirements, audits and verifications are completed in accordance with Bank P&Ps.
C.Business Performance Management
  • Provide coaching and training sessions to team members in area(s) of expertise, and provide feedback to the manager on gaps and opportunities.
  • Deliver exceptional customer service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support.
  • Align individual performance goals to team and organizational goals.
  • Demonstrate behaviours that are consistent with “Our Way” model and aligned with BMO values.

This role has the authority to:
  • Manage and monitor a complex portfolio of work representing a significant amount of risk.
  • Make independent decisions within established guidelines, procedures and Letter of Authority/ authority levels in the resolution/ escalation of problems, including system, software and hardware failures.
  • Escalate all unresolved processing issues to the appropriate level, as per guidelines.
  • Develop initiatives to avoid repetition of operational issues.
  • Act as SME in an advisory capacity to senior managers and lead new work. Recommend business performance improvements.
  • Prioritize work in accordance with policy and severity of service impact to minimize financial/ customer impacts.
  • Coordinate and oversee workflow activities of a team, prioritize and/or change work schedules and work plans within pre-determined deadlines.
  • Review others’ work outputs and provide input to manager on employee performance.
  • Provide on-the-job training, coaching, guidance to others.
  • Ensure authorizations and approvals are obtained in accordance with policies and controls.

  • Team members
  • PO managers and other PO business units to partner in the delivery of key accountabilities
  • Internal business partners to consult/ advise/ service in the delivery of key accountabilities

This job has direct or indirect impact on the following:
  • Customer confidence and satisfaction by ensuring more complex transactions are processed and more complex non-routine business issues are resolved accurately and on a timely basis.
  • Customer retention by ensuring service quality in processing transactions and resolving escalated issues.
  • Bank financial performance by responding on a timely basis to changing operating conditions so as to mitigate financial penalties and costs; also ensures an appropriate balance between customer service and costs to minimize loss of revenue or customer dissatisfaction.
  • Mitigation of reputational risk and financial loss against such things as fraud, defalcation and/or financial penalties by ensuring compliance with Bank P&Ps and regulatory requirements.
  • Mitigation of costs/ impacts associated with human errors by supporting the proper coaching and training of others.
  • High volume and/or high risk environment with strict timeframes that are time sensitive and subject to large penalties if timelines are missed.


  • University degree/college diploma or equivalent work experience
  • 5 to 7 years of related experience
  • Solid knowledge of standard desktop applications used by the business unit
  • Solid knowledge and understanding of business unit’s key products and services, processes and controls
  • Solid understanding of business unit’s risk and regulatory requirements
  • Solid knowledge of departmental systems and applications
  • Solid knowledge of process and/or project management
  • Solid understanding of internal business partner’s business, services and organization
Proficient/Advanced levels of Excel required

  • Strong analytical and problem-solving skills
  • Strong investigation skills
  • Strong prioritization skills
  • Strong customer service and relationship management skills
  • Strong coaching, mentoring and training skills
  • Strong conflict management/ resolution skills
  • Strong written and oral communication skills
  • Ability to multi-task in a fast-paced environment
Roles and Responsibilities
  • Responsibilities include the preparation, submission and validation of Financial and Regulatory Reporting for Listed Derivatives – Exchange traded Futures and Equity Options Reg Reporting on behalf of NBI.
  • CAD REGOPS stays abreast of Regulatory and Business related changes with respect to potential impact on the firms Regulatory Reporting process.
  • Independent team which works closely with Operations, Finance and Compliance to understand the reporting requirements, review the end to end operational processes and data integrity to ensure Regulatory Reporting requirements are adhered to and met.
  • Prepare daily, weekly and monthly regulatory reporting to Montreal Exchange, CME, CFTC
  • Responsible for Capital Requirement, Joint Regulatory Financial Questionnaire and Report – Schedule 12 and Schedule 4, 5 to Finance
  • Responsible to report Free Credit and Net Equity IIROC reporting to Finance
  • Responsible for CFTC and Montreal Exchange Open Large Position Reporting. Ensure Large Trader Reports are reported accurately and in a timely manner. Research and resolve discrepancies.
  • Ensure Futures Options Position Limits are accurately reported to internal stakeholders.
  • Submit CFTC/CME Portal position adjustments and resolve regulatory issues.
  • Review regulatory driven reporting relating to CFTC 30.7.
  • Create, update, and document procedures for applications developed (BMAs) Identify new opportunities for improving processes for efficiency, responsiveness and controls. Maintain repository of BMA in Archer. Conduct risk and control review.
  • Prepare Basel III daily reporting and month end.
  • Prepare OSFI reporting last Wed of every month.
  • Perform weekly manual validation of existing macros.
  • Responsible for overall Tax reporting on behalf of Listed Derivatives LOB.
  • Prepare and review Tax files in source system. Coordinate with vendor to prepare Year-End Tax Reporting and file to CRA and IRS. Review figures for accuracy amend if required.
  • Solid understanding of the business unit’s risk and regulatory requirements.
  • Keep up to date on regulatory issues & notices. Attended meeting, write minutes, and communicate the impact to the line of businesses.
  • Provide complete coverage of multiple desks during staffing shortages.
  • Act as approval back up when short staffed.
  • Maintain appropriate audit trails for all tasks
  • Act as a key participant/operations contact for system and process projects/implementations.
  • Escalate/ assist the manager with complex problem resolution.
  • Fulfill routine and frequently non-routine transactions, internal business partner and/or external customer inquiries/ requests, and/or audit/ reconciliation activities.
  • Analyze and resolve complex issues efficiently and effectively in accordance with Bank and industry standards.
We’re here to help

At BMO we have a shared purpose; we put the customer at the centre 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 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

BMO 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. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Job Customer Servicing
Primary Location Canada-Ontario-Toronto
Organisation CIOO CM & US CTOO-X000070
Schedule full-time
Job Posting 09/17/19
Unposting Date 10/01/19