BMO Financial Group Compliance Tester - Retail Lending Operations in Naperville, Illinois


The Retail Lending Compliance Testing Officer will be responsible for performing periodic testing reviews or monitoring activities in accordance with the testing and monitoring plan, as established by Compliance Monitoring and Testing Management. This role is important to confirm that key compliance-related business line controls are effective to mitigate compliance risk across applicable real estate secured and non-real estate products and activities.

To this end, the Compliance Testing Officer will be accountable for:

  • Researching and developing the steps needed to test and/or monitor compliance with applicable policies/ procedures and with the laws/ regulations;

  • Completing assigned compliance testing and monitoring activities in accordance with established timelines and high standards of quality;

  • Identifying potential control weaknesses and making recommendations to strengthen;

  • Summarizing the results of testing and monitoring in clear, accurate and concise written reports; and

  • Be able to effectively communicate and explain the results of testing/monitoring activity to line management.

In addition, the Compliance Testing Officer will need to understand the Compliance Risk Assessment Process and the interplay with compliance testing and monitoring activity.

Compliance Testing and Monitoring Process

  • Maintain current knowledge of all new regulatory developments which are applicable to Retail Lending operations. Determine the impact of proposed or actual changes to regulations upon current processes and procedures.

  • Research regulatory requirements to develop testing and monitoring steps to test controls

  • Executes testing and fieldwork using general methodology in accordance with established procedures to perform, analyze, document and report results of all assigned reviews.

  • Ensures accurate and timely reporting to senior management and/or agencies.

  • Lead the development of regulatory compliance file review monitoring and testing processes and procedures, to address regulations including but not limited to:

  • Truth-in-Lending Act – Regulation Z

  • Real Estate Settlement Procedures Act – Hud Regulation X

  • Equal Credit Opportunity Act

  • Fair Housing Act

  • Fair Credit Reporting Act

  • Flood Insurance Regulations

  • Appraisal Regulations

  • Loans to Insiders Regulations – Regulation O

  • Anti-Money Laundering/Bank Secrecy Act

  • USA Patriot/Customer Identification Program Requirements

  • Safe Act

  • Graham Leach Bliley Act and Privacy Regulations

  • Revise test scripts and monitoring checklists/tools used for testing to ensure that they reflect most current information and regulations.

  • Takes personal accountability for decisions, actions and work product

Risk Management (Compliance Findings and Reporting)

  • Adheres to compliance, monitoring and reporting procedures related to internal governance and regulations, particularly those established by state and federal law.

  • Perform complex reviews of loan origination files to assess quality, accuracy and compliance with applicable regulatory standards.

  • Review testing and monitoring reports and quality reviews to identify compliance errors, as well as trends of non-compliance within specific areas.

  • Validate and Identify root causes of issues

  • Produce accurate reports, and communicate observations and findings with appropriate tone and prioritization

  • Provide guidance to Quality Control team members regarding file reviews. Serve as a resource to resolve questions regarding the review process and potential issues. Ensure that file reviews are conducted according to specified guidelines on a timely basis.

  • Oversee the compilation and review of detailed management reports and documentation. Maintain accountability for the completeness and accuracy of testing/monitoring reports.

  • Review quality review reports to identify compliance errors, as well as trends of non-compliance within specific areas.

  • Analyze alternatives for addressing quality review findings. Recommend specific changes in processes and procedures to prevent further occurrences of non-compliance.

  • Serve as a Subject Matter Expert and provide technical regulatory expertise and consultation in corrective action discussions with affected Retail Lending areas. Provide recommendations for remediation/corrective action to prevent further instances of non-compliance.

  • Recommend improvements to policies, procedures and tools as needed to ensure effective and competitive operating environment

Compliance Collaboration

  • Serve as a liaison with Business Unit Compliance Officers and other Retail Lending Operations staff to ensure a cross-business, consistent approach to compliance.

  • Work collaboratively with Business Unit Compliance Officers to successfully implement any procedural changes resulting from testing and monitoring, observations or findings. Proactively collect feedback to assess effectiveness of proposed changes.

  • Works effectively and independently in a team setting to assist in the execution of all aspects of the review of assignments and contributes to their overall success

  • Advise and/or instruct Quality Assurance team members on how to evaluate specific loan scenarios.

  • Address service issues between Quality Assurance and Mortgage Operations and adequately mitigate future issues. Communicate those issues to the appropriate Business Unit Compliance Officer as well as Corporate Compliance and Legal, if needed.

  • Communicates openly, honestly and with transparency ensuring commitment to the Bank’s values and principles.



  • Expert knowledge of real estate lending products, and secondary market guidelines. (FNMA/FHLMC/FHA/VA/USDA)

  • Regulatory knowledge of Consumer Protection Regulations, Federal and State Regulations/ Laws that impact Retail Lending (Secured and Unsecured Lending) i.e., Truth-in-Lending(Reg Z),Real Estate Settlement Procedures Act(HUD Regulation X), ECOA(Reg B), HMDA, Fair Housing Act,etc.

  • Prior experience in Compliance Monitoring and Testing preferred, but not required.

  • Education/experience equivalent to a four-year degree in business, finance or related field.

  • 3-5 years consumer/retail lending experience with at least three years of compliance experience.


  • Strong analytical skills required with attention to detail

  • Strong problem solving skills required.

  • Strong oral and written communication and relationship building skills required.

  • Knowledge of loan origination systems as well as other software/systems used by the Bank and Retail Lending

  • Planning and organizational skills required.

  • Ability to manage multiple priorities and projects.

  • Excellent judgement, logic and reasoning.

We’re here to help

At BMO Harris Bank we have a shared purpose; we put the customer at the center 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 Harris Bank 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 .

BMO Harris Bank 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. BMO Harris Bank is an Equal Opportunity Employer for all, inclusive of Minorities, Women, Veterans, and Persons with Disabilities.

Job Field:

Retail Lending & Mortgages

Job Schedule:


Primary Location:

United States-Illinois-Naperville