BMO Financial Group is driven by enduring corporate values. These values represent our core beliefs. They stand as our collective commitment – to our colleagues, to our customers, to our shareholders and to the communities of which we are a part. These values live in the way we work, in the solutions we offer, in the employment environment we provide and in the way we partner with the community.
know how important it is to recognize and respect customer
values –and to embody them in our own values and
the way we do business."
President and Chief
BMO Financial Group
To be the bank that defines great customer experience.
- Take Pride
In what we do and where we work.
- Keep Your Word
Never waver from our commitments to our customers and each other.
- Embrace Diversity
Gain strength through our people and our perspectives.
- Do the Right Thing
Demonstrate respect for all and earn trust through integrity of our actions.
- Have Courage to Win
Focus on what makes us successful.
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Code of Conduct
Read the BMO Code of Conduct, called FirstPrinciples
study: conflict of interest
Lu is a BMO financial advisor with some very generous clients. Recently,
a customer of Lu’s offered him a week at her vacation home in Florida
because Lu mentioned wanting to take a vacation.
Should Lu accept the offer?
No. Accepting the gift could create the perception that Lu would
give this client special treatment and would be in violation of FirstPrinciples,
our code of conduct.
What is it?
FirstPrinciples is our code of business conduct and ethics. It reflects
our commitment to doing what is fair, legal and right.
Who does the Code of Conduct apply to?
FirstPrinciples applies to all BMO Financial Group directors, officers
and employees. We also make our major suppliers aware of our Code
of Conduct. All BMO Financial Group directors, officers and employees
acknowledge annually that they have read,
understand and complied with the code.
Ethics and legal compliance training
Directors, officers and employees must annually complete online
training modules designed to assess awareness, understanding
and compliance with key ethical, legal
and regulatory requirements. In 2010, we adopted a centralized
process for the design and development of regulatory and policy
programs. Further enhancements were introduced for
2011, including an expanded repertoire of both enterprise-wide
and more targeted training
Enterprise-wide training include:
- Code of Conduct
- Information, security and privacy matters
- Anti-money laundering & anti-terrorist financing
How often is the Code of Conduct updated?
Each year, our Corporate Compliance department conducts a rigorous
review of FirstPrinciples, benchmarking our Code of Conduct against
best practices within the global financial services industry and regulatory
environment, before presenting it to our Board of Directors for review and
How is the Code of Conduct made available?
FirstPrinciples is published in both English and French on various
internal sites and on bmo.com. Our intranet contains information for managers
and employees on how to apply FirstPrinciples in their daily work and lists
key contacts for those seeking guidance on specific issues relating to the
Exceptions and escalation
Exceptions to FirstPrinciples are not typical, nor are they encouraged.
Any exception for a director, officer or employee must be approved by the
Audit Committee of the Board of Directors. When required by applicable law,
rule or regulation, exceptions shall be disclosed to the appropriate regulatory
We encourage any BMO employee who has concerns relating to a breach
or potential breach of either FirstPrinciples or any law, regulation or BMO
policy to immediately report the concern to one of the appropriate persons
and departments listed on our FirstPrinciples website.
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Sustainability means creating value for shareholders and acting in the
long-term interest of our customers. We work hard to earn and maintain the
trust that our business is built on. And we support that trust through a
framework of basic values such as integrity and transparency.
Our Sustainability Corporate Policy outlines the responsibilities
of the people involved in managing and overseeing BMO’s social and
environmental activities. The policy, which is approved by our
board of directors, is supported by a number of related policies
that cover topics
relevant to the financial industry:
- anti-money laundering and terrorist financing
- code of conduct
- conflicts of interest
- corruption and bribery
- equal opportunity and harassment
health and safety
human resources management
privacy and confidentiality of personal information
relationships with external auditors
securities trading by employees
Our Corporate Sustainability Group works every day to identify and understand
the sustainability issues that affect our business. They collaborate with
various areas of the bank to address those issues, and are responsible
for creating our Sustainability Corporate Policy.
BMO's Sustainability Council is comprised of senior leaders from across
the bank and provides guidance and oversight on significant sustainability
matters. The council meets every quarter, and the chair reports to our
President and CEO.
Our board of directors is responsible for enterprise-wide oversight and
governance, and a number of our board committee’s mandates include
addressing matters of sustainability. For example, the Audit Committee
reviews reports on environmental, social and governance issues, and material
sustainability is handled by a variety of other committees.
See the pdf below for a complete list of board committees and associated
Board Oversight of Sustainability Issues (PDF, 24 kb)
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BMO on the issues
We think it’s important to be clear about where we stand
on the issues that affect our business. The documents listed
here summarize our views on issues ranging from anti-corruption
to collective bargaining to human rights.
Our views are based on our code of conduct and internal guidelines,
and comply with laws in all jurisdictions where we operate. They
apply to Bank of Montreal and its subsidiaries, wherever we do
1. Anti-corruption (PDF,
laundering and terrorist financing (PDF,
of association and collective bargaining (PDF,
contributions and lobbying (PDF,
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