Specialist, Payments Canada Compliance and Rules Expert

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Job Mandate: Payments Canada Compliance and Rules Expert

Role Purpose
The Payments Canada Compliance and Rules Expert serves as the organization’s authority on the interpretation, application, and compliance of Payments Canada by-laws, rules, and standards governing the Automated Clearing Settlement System (ACSS) and Lynx. This role ensures operational integrity, regulatory adherence, and strategic alignment with payment modernization initiatives, including ISO 20022.

Key Responsibilities

Regulatory Compliance & Governance

• Maintain expert-level knowledge of Payments Canada by-laws, rules, and standards for ACSS and Lynx.
• Act as the primary liaison with Payments Canada, Bank of Canada, and internal stakeholders for rule interpretation and compliance.
• Ensure adherence to risk-management standards under the Payment Clearing and Settlement Act (PCSA) and CPMI-IOSCO principles.

Operational Advisory

• Provide guidance to business units on clearing and settlement processes, liquidity management, and collateral requirements.
• Support resolution of payment exceptions and disputes in accordance with ACSS and Lynx rules.

Rule Development & Industry Engagement

• Participate in Payments Canada working groups and consultations on rule amendments and modernization initiatives.
• Monitor regulatory changes and assess their impact on internal processes and systems.

Risk & Incident Management

• Advise on contingency planning for Lynx and ACSS operations, including end-of-day settlement and emergency procedures.
• Collaborate with internal risk teams to mitigate systemic and operational risks.

Qualifications

• Education: Bachelor’s degree in Finance, Economics, Business Administration, or related field (Master’s preferred).
• Experience: Minimum 7–10 years in payments operations, clearing and settlement, or regulatory compliance.
• Proven experience with Payments Canada frameworks, ACSS and Lynx operations, and ISO 20022 standards.
• Technical Knowledge: Strong understanding of Canadian payment regulations, liquidity and collateral management, and systemic risk controls.
• Skills: Exceptional analytical and problem-solving skills, ability to interpret complex rule sets, strong stakeholder management and communication skills.
• Certifications (Preferred): Certified Payments Professional (CPP) or equivalent; Risk Management or Compliance certifications.

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.