Director - Broker Dealer Regulatory Reporting and Oversight

Application Deadline:

07/25/2025

Address:
100 King Street West

Job Family Group:

Finance & Accounting

Additional Job Description

Experiencing the dynamic world of one of Canada's largest broker dealers offers a unique perspective. The continual evolution of activities provides a rich array of exposures and challenges. This role involves close interaction with various departments including the front office (trading desk), investment bankers, and other areas such as Capital Markets, Treasury, Finance, and Operations.

Director - Broker Dealer Regulatory Oversight

• This key role represents critical oversight over regulatory reporting, capital, margin and data support for BMO Nesbitt Burns Inc, one of the largest broker dealers in Canada. Key aspects of the role include an understanding the CIRO regulatory rule development process, OSC regulatory requirements, the financial reporting process, a deep understanding of source system and general ledger data, brokerage accounting systems, and an expert knowledge of the CIRO regulatory rules as they apply to margin, internal controls and capital.

The role oversees all regulatory requirements for BMO Nesbitt Burns and certain affiliates. The key oversight will be over CIRO regulatory capital, financial reporting and margin rules. Knowledge of central clearing firm regulatory requirements a plus (CDS, CDCC, Option Clearing Corp). Knowledge of the Canadian Investment protection Fund requirements, CMHC capital requirements important as well.

The individual is expected to be both an expert in internal controls oversight and design, an expert on regulatory rules and their practical interpretation. The individual must have a knowledge of various Capital Markets and Wealth management source systems, and also a conceptual understanding of brokerage systems and the ability to extract data from them.

The individual will oversee a team that calculates daily margin on all BMO Nesbitt proprietary positions in various source systems, new issues, the monthly reporting processes for the regulatory financial statements, the ongoing monitoring of internal controls requirements as per regulatory requirements.

The ideal candidate will also have an audit background, having overseen or managed various regulatory audits. The individuals will concurrently oversee all internal control and regulatory policies and manage all internal, external and regulatory audits for the dealer and certain subsidiaries.

Day to Day Role

• Manage a team of five that:
  • Captures the daily CIRO capital calculation as it pertains to c omplex proprietary positions at the broker dealer (including complex offsets and rule interpretation)
  • New issues capital
  • Daily Risk Adjusted Capital and Early Warning reserve calculations for the dealer
  • The Monthly Financial regulatory filing with CIRO
  • Annual Statement of Asset Location with CIPF
• Provides strategic input into business decisions as a trusted advisor
• Makes recommendations to senior leaders on strategy and new initiatives, based on an in-depth understanding of the dealer and dealer regulatory requirements
• Indirect oversight over multiple teams across BMO Financial Group that provide input inti daily/weekly/monthly capital reporting from various source systems including
  • Collateral teams (Securities lending, Repo)
  • Operations teams
  • Middle Office
  • Front Office
  • Retail Client and Prime Brokerage
  • Accounting and Finance

This includes reviewing their processes on a periodic basis and opining on their regulatory margin interpretations, internal controls. Also, initiating and overseeing the implementation of new products or processes introduced to the broker dealer

The role will also:

• Acts as a subject matter expert on relevant regulations and policies
• Demonstrate an ability to view transactional data or extract data in source systems
• Effectively manage teams and influence groups across a matrix reporting structure
• Provide thought leadership on rule interpretation, capital adequacy, margin adequacy, internal control development
• Support Product review in multiple source systems, including:
  • Equities, fixed income, options, financing, futures, swaps, OTC derivatives
• Demonstrate a deep understanding of Internal controls oversight and requisite documentation
• Demonstrate an expert understanding of CIRO Form 1 schedules, related regulations and requisite reporting process
• Review the reporting program/processes for effectiveness, considers industry trends and recommends enhancements; makes changes as required
• Develop and manage comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting
• Present to senior management, front office trading desk heads
• Participate in long term projects with effective influence to ensure regulatory timelines and compliance are met
• Act as the prime subject matter expert for internal/external stakeholders
• Integrate information from multiple sources to enable more efficient processes, enhanced analysis and/or streamlined reporting
• Develop and manage comprehensive information management systems; designs and/or leads initiatives to improve processes, analysis and reporting.

• Qualifications:
• CIRO CFO Exam
• CIRO CFO experience preferred
• CPA /Auditor
• Experience managing large audits
• Typically 10+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Seasoned professional with a combination of education, experience and industry knowledge.
• Verbal & written communication skills - In-depth / Expert.
• Analytical and problem solving skills - In-depth / Expert.
• Influence skills - In-depth / Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth / Expert.
• Able to manage ambiguity.
• Data driven decision making - In-depth / Expert.

Salary :

$121,600.00 - $211,800.00

Pay Type:

Salaried

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.