BMO Financial Group Senior Counsel in Toronto, Ontario
The Legal Counsel role provides and manages the delivery of legal advice and services on products, services, initiatives, policies and developments for and on behalf of BMO Financial Group to achieve organizational goals while minimizing legal risk.
The specific role within the Enterprise Regulatory Office (ERO) willprovide legal advice and services with regard to regulatory matters affecting BMO Financial Group with specific responsibility to be part of a team that assists with managing relationships with BMO Financial Group’s external Regulators.
The role draws on knowledge of the principles, practices and procedures of the law and knowledge of the financial services industry and its environment to implement areas of improvement, to ensure consistency with market practice, to identify risk, to ensure compliance with internal policies & procedures and to communicate appropriately with stakeholders for various functions/activities across BMO Financial Group and communicating appropriately with stakeholders.
This is a rare opportunity to join the enterprise regulatory office that helps manage BMO’s regulatory relationships and obligations and assesses and advises on regulatory trends and issues affecting our businesses. Working with a dedicated team of regulatory specialists in Toronto and Chicago, this role will work directly with OSFI and various lines of business and corporate areas to ensure timely and thoughtful management of our regulatory relationships and responses.
Legal Advice (60%)
provides and/or manages the delivery of legal and regulatory advice
ensures compliance with internal policies and procedures
interprets legislation affecting the organization or assigned groups
manages relationships with BMO Financial Group’s external Regulators
Legal Oversight (20%)
ensures ongoing delivery of legal and regulatory advice
implements areas of improvement to ensure consistency with market practice
as appropriate, contributes to and propose strategy and design of legal advice strategies
Risk Management (20%)
- identifies risks and communicates appropriate with stakeholders, in support of functions/activities of an assigned business group or generally across BMO Financial Group
With minimal supervision, delivers legal advice and ensures compliance with internal policies & procedures related to regulatory matters and relationships with BMO Financial Group’s external Regulators
Organizes ongoing delivery of legal advice for assigned business area and recommends and implements areas of improvement to ensure consistency with market practice
Participate in strategy and design of legal advice strategies and approaches for the ERO
Exercises judgment on complex, confidential and sensitive decisions. Typically expected to resolve most day-to-day issues and/or escalate with appropriate analysis and recommendation
Participates in devising strategy and making recommendations to minimize risk. Proactively identifies risks and potential problems and communicates appropriately to stakeholders
Identifies and resolves moderately complex issues. Determines root causes of issues
Negotiates complex issue resolution
Monitors global developments affecting the financial services industry/financial institutions
Minimum requirements are a degree in law (LLB or JD ) and license to practice law in relevant jurisdiction (e.g. Ontario, Quebec, Illinois, New York, U.K., Hong Kong, People`s Republic of China, etc.)
Knowledge in legal field, typically with a functional or business line specialization
Knowledge of business and regulatory environment in which BMO Financial Group operates, usually in a specific line of business or specialized activity
Advanced level of knowledge of subject matter legal requirements and the operations of a single client group
Generally, 7 or more years of legal practice or other relevant experience.
May require prior private practice or in-house experience delivering legal advice to LOB or experience at regulatory body relating to the regulation of LOB activities
Skills in proactively providing ideas, advice and solutions relative to legal issues
Strong analytical capability and judgement
Strong verbal and written communication skills
Above average negotiations skills
Good relationship management skills/able to relate at all levels
Ability to work independently or in team environment
Strong research skills
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 https://bmocareers.com .
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.