The MD, NA Fraud Business Intelligence, Technology and Analytics role is accountable for ensuring that teams who manage all automated, semi-automated and manual monitoring processes and tools effectively support the NA Fraud function. This role partners with Technology and Operations, Lines of Business, other Fraud Risk functions, and NA Fraud Management Sr. Management to ensure that NA Fraud systems fulfill the requirements of NA Fraud Management, Risk, and Lines of Business requirements to manage fraud.
The role has leadership and management accountabilities for the NA Fraud Management teams who are accountable for systems development and systems integration. The role and its team provides oversight and leadership for the management of critical applications related to fraud monitoring, the development and maintenance of monitoring management processes, the implementation of technology enhancements, and the design, development and testing of new scenarios within systems.
The MD, NA Fraud BI&T is also accountable for NA Fraud strategies & change management in support of Fraud lead initiatives. The role is accountable in creating, recommending, and implementing Fraud strategy and new detection tools, services, and functionality to support Customer-centric Fraud Management practices and ensure best-in-class fraud processes, infrastructure and tools are utilized to accurately identify and manage fraud risk.
The role leverages industry forums and builds relationships within the fields to lead develop best in class fraud management capabilities.
The role will drive the strategic agenda forward. The role is accountable for the execution of the fraud management strategy roadmap to ensure innovation and foresight about risk appetite and fraud and will work closely with cross functional teams to deliver transformational change in Customer Experience in Fraud Moments across NA P&BB.
The role is accountable for the overall development of analytical techniques to identify fraud trends and patterns, and for the development of strategies to mitigate risk on BMO NA Personal and Business Banking products across the enterprise. Both of these areas will be developed and implemented by the Director of NA Fraud Analytics and Reporting.
This role is accountable for the management of ongoing programs, new initiatives and cross-functional projects encompassing areas such as production support, system enhancements, product upgrades and development and Analytics and Reporting.
The role conducts first line assessment and review of risk in business initiatives, provides Fraud Risk expertise to LOB initiatives , manages change implementations (both transformational and operational), working closely NA Fraud Management leadership.
The role creates and implements change management strategies as required, assessing the impact of the change on Fraud Management processes and reviews and updates Fraud Policy & Processes.
List and describe the major components of work (e.g., strategy, governance, people management, analysis) and the approximate percentage of time spent on each. What action does the job take (e.g., own, execute, support, co-ordinate)? What results or outcomes are expected? Provide examples to explain the impact to BMO. Is there anything unique and important to know about what this job accomplishes?
Oversight of Systems Teams
- Provide leadership and oversight over all NA Fraud Management critical applications by ensuring effective change management processes are followed, solutions are properly identified and designed, effective testing is performed, and implementations are properly planned and documented.
- Ensure all NA Fraud Management critical applications are properly managed and supported by third-party vendors or Technology and Operations support teams. This includes oversight of service level agreements and issue tracking.
- Evaluate the effectiveness of scenarios following implementation and provide recommendations for systems optimization and tuning of the scenarios through statistical analysis of the data elements.
- Approve and oversee the implementation of monitoring processes or feeds for new products and services to ensure data elements captured will accurately support the development of scenarios within systems
Oversight and Leadership of Technology Project Group and Technology Roadmap
- Act as the primary contact between Technology and Operations and NA Fraud Management
- Provide oversight and leadership of the planning and implementation of technology enhancements to support NA Fraud Management. Deliver subject matter expertise and guidance for new initiatives and how technology can support their effective implementation.
- Participate in the research and evaluation of new products, services and proposed NA Fraud solutions.
- Maintain and report status of ongoing projects and collaborate with Technology & Operations team to sponsor resources for the timely and on-budget project completion.
- Ensure the effective implementation of Bank initiatives and programs through the establishment of appropriate context and setting of direction for employees by providing relevant information, establishing goals, and setting limits with the context and prescribed limits of the group head.
- Establish goals, plans and assignments for teams to achieve key milestones.
- Review progress to plans, and develop, communicate, delegate and actively participate in the implementation of actions necessary to correct internal and external issues.
- Escalate significant issues to the Head, NA Fraud Management.
- Determine and deploy equipment, processes and human resources, and optimize the allocation of resources within the team.
- Develop, implement and review a plan to complete all assigned tasks in a timely manner to acceptable quality standards.
Strategy, Change and Innovation
- Lead new development and/or enhancements to the NA Fraud management systems and technology.
- Lead operationalization of change initiatives within the function to ensure the optimal effectiveness and efficiency.
- Develop a North American fraud strategy with an overall view of fraud capabilities and plan to address gaps over 3-5 years; including investment management.
- Define the North American fraud strategy and work with team members and relevant operational groups to ensure effective execution of fraud strategy.
- Understand through industry associations, peer networking groups and business, fraud emerging threats and trends in order to create appropriate response actions plans.
- Act as the subject matter expert on line of business initiatives (product/channel/segment) and as change leader on initiatives that impact fraud operations.
- Build and maintain a center of excellence for Customer-centric Fraud Management capable of providing business, operational and long-term strategic guidance to colleagues regarding fraud and the development and implementation of fraud risk initiatives across a wide and diverse range of issues, processes, and applications, including those impacting or arising from new products, processes and channels.
- Communicate fraud initiatives and threats to senior management and teams through regularly established communication of executive summaries, dashboards and reviews.
- Strategic management activities include: define vision and strategy as appropriate, validate assumptions, analyze economic impacts, propose measures of success, monitor progress, measure and communicate results
- Develop and maintain an understanding of industry and competitive dynamics, major competitive moves and best practices to assess and report on their impact in the context of related business strategies.
- Review progress against strategic goals, take action and/or make recommendations to correct issues
Analytics & Reporting
- Approve and oversee analytical techniques to identify fraud trends and patterns, and develop strategies to mitigate risk on BMO NA Personal and Business Banking products across the enterprise.
- Approve and oversee the development of fraud models, strategies, and controls to mitigate the fraud loss in channels while balancing customer experience, operations and product P&L impacts. Accountabilities include reporting on overall fraud losses and trends including reconciling numerous metrics and creating summaries for Executives and Businesses.
- Approve the overall implementation of monitoring processes or feeds for new products and services to ensure data elements captured will accurately support the development of models within systems
Operational Effectiveness / Risk Management
- Maintain current knowledge of the regulatory environment and changes across the Bank. Identify the potential impact of regulatory and environmental changes on NA Fraud monitoring and screening applications, processes and procedures.
- Identify potential risk and control gaps and provide recommendations to improve monitoring applications and processes, including technology enhancements.
- Stay current with evolving and competitive trends and initiatives for BMO’s businesses and assess their implications for fraud risk controls.
- Work with business partners across BMO FG and Technology & Operations to understand requirements and achieve alignment between the analytics, business and technical sides of NA Fraud strategies to improve performance and effectiveness.
- As part of the senior leadership team contribute to the development of optimal NA Fraud strategic alternatives by identifying and presenting opportunities for the effective deployment of systems and technology to support NA Fraud Management in its mandate.
Leadership and Management of a High-Performing Team
- Recruit, lead, manage and develop a diverse team using effective training, performance assessment and coaching techniques.
- Provide planning, leadership and direction to employees in order to align tasks and assignments with NA Fraud and Bank goals and objectives.
- Provide leadership and oversight in the recruitment, selection, retention, rewarding and development of employees.
- Ensure compliance with all Human Resources policies and procedures.
- Apply the Bank's performance management system to subordinates, including establishing goals and objectives, assessing skills and knowledge gaps, allocating resources to achieve objectives and close gaps, and assessing personal effectiveness.