Associate General Counsel - Regulatory

Job Description

Application Deadline:

Address:

Job Family Group:

Skills

• Strong skill in proactively providing ideas, advice, and solutions related to legal issues
• Superior judgement
• Above average analytical capability
• Strong verbal and written communication skills
• Superior relationship management skills/ability to relate at all levels
• Ability to work independently or in team environment
  

Scope and Impact

The role is based in Toronto, Canada.

The role has direct or indirect impacts across the enterprise, including on the following:

• Legal Risk
• Regulatory Risk
• Reputational Risk
• Regulatory Relationships
• Ability to execute strategic objectives

The role is complex as a result of various factors, including:

• The highly regulated and global nature of the business of BMO Financial Group
• The number of different businesses and separate legal entities that comprise BMO Financial Group
• The importance of OSFI as BMO’s lead regulator
• The amount of relevant regulation and the magnitude of regulatory change

Failure to fully understand and appropriately advise regarding the regulatory environment may impact BMO’s ability to execute key strategic objectives.

Associate General Counsel—Regulatory, Enterprise Regulatory Office

The Enterprise Regulatory Office (“ERO”), within Legal & Regulatory Compliance (“LRC”), supports the BMO enterprise and helps BMO Financial Group meet both its regulatory obligations and its supervisors’ expectations. ERO advises with respect to legal and regulatory matters, provides leadership and guidance with respect to regulatory interactions, provides advice and oversight regarding regulatory examinations and the remediation of supervisory findings, and reports to senior management and the board of directors on significant matters.

The role is an Associate General Counsel position in ERO focused on providing legal and strategic advice on the Bank Act and other federal financial institution legislation. The regulatory lawyer will provide analysis and advice with respect to acquisitions and divestitures, proposals for new or updated products, activities, or services, and corporate governance and structure. The role will be required to stay abreast of the current regulatory and supervisory environments and review, analyze, and summarize proposed legal and regulatory changes in an actively evolving regulatory environment. The role is a centralized function that supports LRC and the enterprise through in-depth knowledge and experience related to the Bank Act and other federal financial institution legislation as it affects BMO Financial Group.

Key Accountabilities

• Provide legal advice and guidance on a broad range of matters involving the Bank Act and other federal financial institution legislation, and act as the legal subject matter expert for LRC and the enterprise on legal and regulatory matters covered by such legislation.
• Provide legal advice and guidance to lines of business and corporate areas regarding implications of applicable laws and regulations on business strategies and new products, services, and activities.
• Support BMO Financial Group’s interactions with OSFI, and assist in regulatory notifications and/or applications related to bank reorganization, expansion, or acquisition activity.
• Ensure BMO stays abreast of proposed changes to banking laws and regulations, including analyzing, assessing, summarizing, and reporting with respect to proposed amendments and other related developments.
• Participate in and advise on the bank’s advocacy efforts, focused on emerging supervisory and regulatory matters.
• Provide input on reports and presentations on supervisory and regulatory activities for Senior Management and the Board of Directors.

Knowledge

• Minimum requirement is a degree in law (LLB) and license to practice law in Canada
• At least 5 to 10+ years call from the bar
• Proficient level of knowledge in the legal field, with a focus on bank regulatory matters
• Strong knowledge of business and regulatory environment in which BMO Financial Group operates

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 https://jobs.Bmo.Com/ca/en.

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.

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.