Director - Fraud Model Risk Management
Toronto, ON, CAN
6d ago

Job Family Group :

Audit, Risk & Compliance

Provides oversight, monitoring and reporting on model risk for a designated portfolio. Develops and monitors the model risk management and governance framework and practices leveraged across BMO.

Develops and implements policies and standards, methodologies, and controls that increase transparency, accuracy, and consistency across groups.

Works with stakeholders to implement the methodology, metrics, and program standards for the assigned portfolio to ensure compliance and effective monitoring, timely reporting, and identify action plans.

Qualifications :

  • Manages people and leads a team capable of delivering the desired business results.
  • Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives.
  • Develops an expert understanding of business / group challenges.
  • Networks with industry contacts to gather competitive insights and best practices.
  • Recommends measures to improve organizational effectiveness.
  • May consult to or serve on various committees and task forces.
  • Interprets new regulations and assesses impacts to the governance framework.
  • Influences and negotiates to achieve business objectives.
  • Identifies emerging issues and trends to inform decision-making.
  • Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
  • Conducts independent analysis and assessment to resolve strategic issues.
  • Leads the development and maintenance of the governance system and framework.
  • Acts as the prime contact for internal / external stakeholder relationships, which may include regulators.
  • Represents the risk program / governance structure during internal / external regulatory audits and / or examinations.
  • Ensures alignment between stakeholders.
  • Designs and produces regular and ad-hoc reports, and dashboards.
  • Develops and manages comprehensive information management systems; designs and / or leads initiatives to improve processes, analysis and reporting.
  • Defines business requirements for analytics & reporting to ensure data insights inform business decision making.
  • Leads the development of the communication strategy focusing on positively influencing or changing behaviour.
  • Leads change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.
  • Assesses and adapts existing operational programs; develops new capabilities to ensure ongoing success.
  • Manages the review and sign-off process for relevant regulatory reporting.
  • Leads and integrates the monitoring, measurement and reporting on the status of the model risk governance program to internal and external stakeholders.
  • Leads the management of governance meetings and maintenance of governing body mandates, oversight and approval guidelines.
  • May provide specialized support for other internal and external regulatory requirements.
  • Provides input into the planning and implementation of ongoing operational programs in support of the model validation / risk framework.
  • Leads in the design, implementation and management of core business / group processes.
  • Independently administers and evaluates model life cycle activities for adherence to all policies, procedures and established processes;
  • documents and reports results of evaluations on an individual and summary basis.

  • Identifies where corrective actions are required and escalates per guidelines; ensures corrective action is taken.
  • Provides advice and guidance to assigned business / group on implementation of the risk framework, including effective challenge.
  • Coordinates and participates in the execution of oversight / governance activities including reporting; assessment of education and training needs, development / delivery of training;
  • development and execution of regulatory administration processes and procedures.

  • Consults with stakeholders to improve consistency and transparency of risk measurement, metrics, and reporting.
  • Supports the development and maintenance of the governance system and framework (e.g. supporting policies, standards, operating procedures, lifecycle management, education and training assessment, development and delivery, coordination of attestation programs, reporting, etc.).
  • Develops and maintains in-depth knowledge of business and related risk management requirements and legislative / regulatory directives and guidance.
  • Builds effective relationships with internal / external stakeholders.
  • Ensures alignment between stakeholders.
  • Analyzes data and information to provide insights and recommendations.
  • Monitors and tracks performance; addresses any issues.
  • Coordinates and monitors the review and sign-off of regulatory reporting and attestations.
  • Operates at a group / enterprise-wide level and serves as a senior specialist resource across BMO.
  • Influences how teams / groups work together.
  • Applies expertise and thinks creatively to address unique or ambiguous situations and to find solutions to multiple, interdependent, complex problems.
  • Communicates abstract concepts in simple terms.
  • Fosters strong internal and external networks and works with and across multiple teams to achieve business objectives.
  • Anticipates trends and responds by implementing appropriate changes.
  • Broader work or accountabilities may be assigned as needed.
  • Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
  • Expert knowledge and understanding of the model life cycle, model risk management practices.
  • Expert knowledge of regulatory requirements.
  • Expert knowledge & experience with risk policy frameworks; quality control / testing frameworks.
  • Seasoned expert with extensive industry knowledge.
  • Technical leader viewed as a thought leader for innovation.
  • Verbal & written communication skills - Expert.
  • Analytical and problem solving skills - Expert.
  • Influence skills - Expert.
  • Collaboration & team skills; with a focus on cross-group collaboration - Expert.
  • Able to manage ambiguity.
  • Data driven decision making - Expert.
  • We’re here to help

    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.

    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.

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