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Leads the development, implementation, maintenance, and administration of the regulatory compliance program for a U.S. registered investment adviser (RIA). Oversees the establishment of a comprehensive compliance framework in connection with the entity's SEC registration and the development and launch of investment products and funds. Provides regulatory compliance advice and oversight relating to investment advisory activities, fund operations, and related business initiatives.

Acts as the designated Chief Compliance Officer of the RIA and is responsible for administering its compliance policies and procedures in accordance with applicable SEC requirements. Coordinates and performs regulatory risk assessments, monitoring, testing, and surveillance activities to ensure the compliance program remains effective and aligned with applicable regulatory requirements and the BMO Compliance Program. Works with business/group management, Legal, Risk and other internal partners to ensure regulatory, corporate, and fiduciary obligations are met. Advises on the implications of regulatory developments, new investment products and business initiatives, and oversees the implementation of appropriate compliance policies, procedures, and controls.

Contributes to business/group results by providing independent compliance oversight, effectively challenging business activities and making recommendations that support the Bank's ability to manage regulatory compliance risk, meet regulatory obligations, and achieve business objectives.

• Leads the development and implementation of the RIA's regulatory compliance program, including policies, procedures, controls, governance arrangements and compliance monitoring and testing activities.
• Leads the compliance workstream in connection with the RIA's SEC registration, including the preparation and review of Form ADV, regulatory disclosures and related compliance documentation.
• Serves as the designated Chief Compliance Officer of the RIA pursuant to Rule 206(4)-7 under the Investment Advisers Act of 1940.
• Oversees the ongoing administration and effectiveness of the RIA's compliance program, including required annual compliance reviews, regulatory filings, monitoring, testing, issue management, and reporting.
• Provides advice and influences business/group management on the implementation of solutions aligned with regulatory requirements and risk appetite, based on an understanding of business operations and stakeholder needs.
• Acts as a subject matter expert on U.S. investment adviser regulation, including fiduciary obligations, conflicts of interest, custody, marketing, personal trading, recordkeeping, and other applicable SEC requirements.
• Provides compliance advice and oversight in connection with the structuring, development, and launch of investment funds, including products offered or registered under the Securities Act of 1933 and a fund registered under the Investment Company Act of 1940.
• Consults on new products, investment strategies, services, distribution arrangements, and automated systems to ensure compliance requirements are appropriately incorporated into business initiatives.
• Oversees the development and implementation of compliance policies and controls applicable to investment management activities, including portfolio management, trading, allocation, best execution, valuation, conflicts of interest and client disclosures.
• Advises on applicable investment fund compliance requirements, including fund governance, disclosure, investment restrictions, service-provider oversight, and ongoing regulatory reporting.
• Supports the establishment and ongoing operation of compliance arrangements for funds subject to the Investment Company Act of 1940, including coordination with fund boards, fund compliance personnel, and external service providers, as applicable.
• Makes recommendations to senior leaders on strategy, new initiatives and regulatory risk management, based on an in-depth understanding of the business/group.
• Leads and participates in the design, implementation, and management of core compliance processes, including regulatory risk assessments, monitoring, testing, surveillance and reporting.
• Conducts and effectively challenges risk assessments for business/group and assists in identifying and implementing appropriate compliance controls.
• Performs and oversees monitoring and testing activities to assess the design and operating effectiveness of regulatory compliance controls.
• Identifies, assesses, effectively challenges, and oversees the satisfactory resolution of compliance issues, including the development and validation of appropriate remediation plans.
• Elevates material compliance issues and regulatory risks to business/group management, senior Compliance leadership, and relevant governance committees for prompt resolution.
• Develops and maintains compliance management information, metrics and reporting for business/group management, Compliance leadership, and relevant governance bodies.
• Establishes and maintains effective relationships with the SEC and other applicable regulatory authorities, and coordinates responses to regulatory inquiries, examinations, and requests for information.
• Represents the RIA and interacts with examiners and auditors during regulatory examinations and internal and external audits.
• Develops and maintains a high level of expertise in applicable U.S. securities laws, regulations, SEC rules, regulatory guidance, and industry practices.
• Monitors regulatory developments affecting investment advisers, investment products, and registered investment companies, and advises business/group management on their implications.
• Oversees the implementation of new or revised compliance policies, procedures, and controls in response to regulatory developments and changes in business activities.
• Provides regulatory compliance advice and oversight relating to marketing, advertising, investor communications, and distribution activities.
• Identifies compliance training requirements and develops or coordinates appropriate training for business/group employees.
• Works collaboratively with Legal, Risk, Operations, Finance, Technology, and other internal and external stakeholders to support effective regulatory compliance and risk management.
• Builds effective professional relationships with business/group management, internal and external stakeholders, regulators, and fund service providers.
• Coordinates with external legal counsel, compliance consultants, and other professional advisers in connection with regulatory registration, fund launches and ongoing compliance obligations.
• Ensures the RIA's compliance framework is appropriately integrated with the BMO Compliance Program and applicable enterprise governance, policies, procedures, and risk management requirements.
• Communicates the roles and responsibilities of the three lines of defense and promotes a strong culture of regulatory compliance and accountability.
• Operates at a business/group and enterprise-wide level and serves as a specialist resource to senior leaders and stakeholders.
• Applies expertise and sound judgment to address complex, emerging or ambiguous regulatory matters and develops practical solutions to mitigate compliance risks.
• Operates effectively in a dynamic environment with evolving business requirements, regulatory expectations, and audit scrutiny.
• Broader work or accountabilities may be assigned as needed.

Qualifications

• Typically, 10+ years of relevant experience in U.S. investment management regulatory compliance, including experience with SEC-registered investment advisers, and a post-secondary degree in a related field of study or an equivalent combination of education and experience.
• Significant experience developing, implementing, and overseeing regulatory compliance programs for SEC-registered investment advisers.
• Demonstrated knowledge of the Investment Advisers Act of 1940, Investment Company Act of 1940, Securities Act of 1933 and applicable SEC rules, regulations, and guidance.
• Prior experience serving as a Chief Compliance Officer, Deputy Chief Compliance Officer or senior compliance leader within a U.S. investment management business preferred.
• Experience establishing or materially enhancing an investment adviser compliance program, including compliance policies and procedures, regulatory risk assessments, monitoring and testing, regulatory reporting and governance processes.
• Experience supporting SEC investment adviser registration, including Form ADV preparation and related regulatory requirements, preferred.
• Knowledge of the regulatory compliance requirements applicable to U.S. registered investment funds, including fund formation, launch, governance, operations, and ongoing regulatory obligations.
• Experience with investment company compliance programs under Rule 38a-1 of the Investment Company Act of 1940 preferred.
• Experience with investment management compliance matters, including fiduciary duties, conflicts of interest, investment restrictions, personal trading, marketing, custody, best execution, trade allocation and regulatory recordkeeping.
• Experience managing SEC regulatory examinations, inquiries, and compliance reviews.
• Familiarity with the regulatory and governance requirements applicable to bank-owned investment management businesses, including enterprise compliance frameworks and the three lines of defense, preferred.
• Experience working collaboratively with Legal, Risk, business management, external counsel, and other internal and external stakeholders.
• Ability to independently establish and manage a compliance function within a developing business, while operating effectively within a larger financial institution's governance and control framework.
• Recognized compliance certification, such as Certified Investment Management Compliance Professional (IACCP), or equivalent, preferred.
• Serves as a specialist resource to senior leaders and stakeholders with advanced knowledge of regulatory/compliance requirements and investment management operations.
• Strong business acumen and ability to provide practical, risk-based compliance advice in support of business objectives.
• Strong communication, critical thinking, relationship management, and project management skills.
• Seasoned professional with a combination of education, experience, and industry knowledge.
• Verbal and written communication skills – In-depth / Expert.
• Analytical and problem-solving skills – In-depth / Expert.
• Influence and effective challenge skills – In-depth / Expert.
• Collaboration and team skills, with a focus on cross-group collaboration – In-depth / Expert.
• Regulatory risk assessment, monitoring, and testing skills – In-depth / Expert.
• Able to manage ambiguity and competing priorities.
• Data-driven decision making – In-depth / Expert.

Salary:

Pay Type:

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.