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BMO Financial Group Director, Business Banking Fraud Strategy in Toronto, Ontario

Address:

55 Bloor Street West

Job Family Group:

Customer Shared Services

The Financial Crimes Unit (FCU) brings together our Cybersecurity, Fraud, Physical Security and Resilience Planning capabilities to address the ever-growing and increasingly complex global security environment. It is a highly collaborative effort that greatly enhances BMO’s ability to rapidly prevent, detect, respond to, and recover from all security & crisis threats. This position offers a unique experience to learn from experienced leaders in the industry, join a team building the 21st century model for security and helping grow the good by protecting our customers and communities.

Works with stakeholders to deliver project/program/initiative business results in alignment with overall Financial Crimes group goals. Provides fraud subject matter expertise specific to Business banking products in particular in the design, development, management and implementation of assigned projects from business case development through execution.

Day-to-day Role:

  • Oversight over the fraud monitoring processes for business banking fraud in Canada & US, including origination and post-funding

  • Accountability to feed fraud insights into processes and tools (i.e., train tech tools to catch fraud based on learnings from the industry and through competitor intel)

  • Accountable for design and development of near real-time and ongoing monitoring using data analytics to proactively identify fraud schemes / fraudulent deals

  • Identify red flags that could cross-pollinate from other products to business banking

  • Provide consultation to the business on elements of fraud technology and initiatives

  • Provide relevant analytics and reporting to keep the Business informed of operational status, new threats, and industry trends

  • Identify potential fraud control gaps/opportunities, assess benefit for improvements, build business case to implement changes to improve fraud controls

  • Engaged in any changes to the end-to-end business processes to assess impact on fraud and perform fraud risk assessment of any changes

  • Conduct fraud risk and control assessment across business banking, including mapping out existing fraud controls across the various groups

  • Provide consulting expertise on fraud prevention and detection strategies

  • Liaise with industry peers on fraud best practices and trends

  • Develop and maintain Playbook for Fraud events related to business banking

During a Fraud Event:

  • Accountable for managing a fraud incident from end-to-end by liaising with all the relevant teams: not to do the work, but accountable for coordination and communication with leadership

  • Coordinate the deep dive analysis, problem identification, solution design and implementation of new fraud controls, etc.

  • Understand the extent and severity of the scenario to engage the appropriate groups; Determine whether the problem is systemic

  • Conduct the initial assessment and determination on when to invoke the Fraud Event Playbook based on escalations received & validated (likely from GI)

  • Develop a holistic end-to-end view of the timeline of events leading to the fraud alert

  • Liaise with product/process to identify the root cause and determine whether it has penetrated to other parts of BMO

  • Collaborate with other teams to understand issues and implement corrective steps

General Overview

  • Focuses Fosters a culture aligned to BMO purpose, values and strategy and role models BMO values and behaviours in all that they do.

  • Ensures alignment between values and behaviour that fosters diversity and inclusion.

  • Regularly connects work to BMO's purpose, sets inspirational goals, defines clear expected outcomes, and ensures clear accountability for follow through.

  • Builds interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.

  • Attracts, retains, and enables the career development of top talent.

  • Improves team performance, recognizes and rewards performance, coaches employees, supports their development, and manages poor performance.

  • Acts as a trusted advisor to senior leaders for making business decisions and implementing strategic initiatives. primarily on new build or significant enhancement to existing work, systems, processes, etc. Usually large scale, high complexity initiatives impacting multiple lines of business.

  • Develops an expert understanding of business/group challenges.

  • Influences and negotiates to achieve business objectives.

  • Identifies emerging issues and trends to inform decision-making.

  • Recommends and implements solutions based on analysis of issues and implications for the business.

  • Acts as a subject matter expert on relevant regulations and policies.

  • Networks with industry contacts to gather competitive insights and best practices. Recommends measures to improve organizational effectiveness.

  • Provides coaching on complex strategic and business issues and facilitates processes to reach effective resolution.

  • May consult to or serve on various committees and task forces.

  • Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution

  • Develops the business case by identifying needs, analysing potential options and assessing expected return on investment.

  • Manages resources and leads the execution of strategic initiatives to deliver on business and financial goals; assesses and adapts as needed to ensure quality of execution.

  • Acts as the prime contact for internal/external stakeholder relationships, which may include regulators.

  • Keeps stakeholders informed of messages, recommendations, decisions, process and progress.

  • Interacts with various BMO groups to ensure strategy and initiatives meet enterprise governance requirements.

  • Defines business requirements for analytics & reporting to ensure data insights inform business decision making.

  • Collaborates across BMO to develop communications strategies and ensure consistency of messaging, in order to positively influence or change behaviour.

  • Leads change management activities, ensuring cross business/group coordination and logistical support for the implementation of change.

  • Acts as a relationship manager on assigned projects/programs and ensures alignment to overall enterprise and group goals.

  • Develops solutions and makes recommendations based on an understanding of the business strategy and stakeholder needs.

  • Provides advice and subject matter expertise for project/program/initiative design and to incorporate the needs of the business to ensure smooth, effective implementation and the achievement of anticipated benefits.

  • Conducts analysis required to inform strategic recommendations and considers the “big picture” when assessing whether or not a course of action is advisable in terms of the group and enterprise goals.

  • Collaborates with internal and external stakeholders to provide business context in the design, develop and implementation of programs and solutions.

  • Builds effective relationships with internal/external stakeholders.

  • Ensures alignment between stakeholders.

  • Utilizes standard project management methodology to manage solution planning, implementation, sustainment, and evaluation of initiatives.

  • Documents business requirements, processes, and test scenarios; completes testing as required.

  • Identifies enablers and key issues prior to and during implementation, raises issues with stakeholders and offers solutions to resolve issues or risks that jeopardize delivery.

  • Breaks down strategic problems, analyzes data and information to provide insights and recommendations.

  • Builds change management plans of varying scope and type; leads or participates in a variety of change management activities including readiness assessments, planning, stakeholder management, execution, evaluation and sustainment of initiatives.

  • Leads or participates in defining the communication plan designed to positively influence or change behaviour; develops tailored messaging; and identifies appropriate distribution channels. May include assisting with training sessions and delivering/disseminating training and/or learning materials.

  • Work with stakeholders to identify project/program/initiative critical success factors and integrate appropriate cost, quality, and risk mitigating strategies into change plans.

  • Designs and produces regular and ad-hoc reports, and dashboards.

  • Monitors and tracks performance, and addresses any issues.

  • Identifies enablers and key issues prior to and during implementation, raises issues with stakeholders and offers solutions to resolve issues or risks that jeopardize delivery.

  • 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.

Qualifications:

  • Looking for deep expertise in business banking segment knowledge, including key processes, critical documentation and fraud controls.

  • Typically 9+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.

  • Strong understanding of fraud, specifically related to business banking fraud schemes

  • Relationship management and influence skills-Expert.

  • Project management skills-Expert.

  • Technical leader viewed as thought leader for innovation.

  • 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.

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.

BMO Financial Group Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $728 billion as of October 31, 2018, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.We serve Canadian clients through BMO Bank of Montreal®, our personal and commercial banking business, BMO Nesbitt Burns®*, one of Canada's leading wealth management firms, and BMO Capital Markets™, our North American investment and corporate banking division.In the United States, clients are served through BMO Harris Bank, a major U.S. Midwest personal and commercial bank, and BMO Private Bank, with wealth management offices across the United States, as well as BMO Capital Markets™, our North American investment and corporate banking division.We help our customers make money make sense by delivering the broadest range of financial services through a single point of contact. Our financial service professionals provide access to any services our customers require across the entire enterprise.

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