Senior Manager, AML and Fraud Model Validation Senior Manager, AML and Fraud Model Validation …

Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Bank of Montreal
in Toronto, ON, Canada
Permanent, Full time
Be the first to apply
Senior Manager, AML and Fraud Model Validation
Model Validation (MV) group in Enterprise Risk has the mandate to review and approve enterprise-wide model use so that the Bank is not subject to unjustified, undue, and unidentified risks due to error or misuse of models, and to promote the transparency and understanding of models and model risks across the Bank.

Under the guidance of Director AML and Financial Crime Prevention Model Validation, the Senior Manager is accountable for the model validation and benchmark model development (if applicable) of AML and fraud prevention models. The individual will be responsible for preventing any regulatory finding and/or financial loss due to the misuse of the models, for the purpose of protecting and enhancing BMO's reputation and financial safety.

Though dealing with a large volume of AML and fraud modeling initiatives, this is an excellent opportunity for an individual that wants to enhance knowledge of AML and financial crime prevention models, and to develop people management skills.

Main Responsibilities include but not limited to:

Model validation (60%)

  • Support the Director of AML and Fraud Model Validation in the development and execution of overall validation work plan
  • Independently validate new and existing AML and Fraud models with a concentration on models used for BMO Canada and international lines of business.
  • Lead the reporting analyst to ensure the assigned validation projects are completed within required timeline and with high quality.
  • Provide effective challenge and communicate identified model risk to the first line model owners and developers to ensure the risk are well understood and mitigation actions are taken; escalating where necessary to senior management
  • Provide consultancy to the senior management and first line model owner and developer regarding the technical model issues of the AML and fraud models
  • Report writing and model inventory maintenance
  • Keep abreast of latest development in AML and fraud modeling

Managerial Leadership (25%)

  • Host regulator update meeting on assigned projects to both MV senior management and the first line model owners and developers.
  • Provide day-to-day supervision and training to the junior analyst, and review work completed by the reporting analyst before the draft report and recommendation are submitted to MV Director for approval
  • Support the MV director to identify and implement improvement to work, process and systems to ensure operational effectiveness.
  • Support various ad-hoc reporting requests from senior management, internal audit and regulators
  • Manage HR administration requests of the junior analyst

Governance (15%)

  • Assist the MV Director to ensure all models covered by the team meet the requirement of the Enterprise Model Risk Management Framework, e.g. all AML and fraud models used by the bank are validated and approved and issues identified are mitigated properly.
  • Support the MV Director to ensure all validation review work is conducted in accordance to defined model validation process, and in compliance with all bank and regulatory requirements.

The ideal candidate should have:


  • 3+ years of experience in AML and/or fraud financial model validation, model development or a related position
  • Outstanding knowledge and relevant training in data mining, machine learning, and various statistical analysis techniques, with demonstrated experience pertaining to machine learning/statistical modeling
  • Experience in supervising or coaching junior team member(s)
  • In-depth knowledge of industry best practices and understanding of AML regulatory requirements
  • Good Knowledge of the bank's different lines of business and various products offered

  • Analytical, detail-oriented, well-organized, highly self-motivated with good interpersonal skills
  • Good ability of conflict-solving and to collaboratively work with first line model owner and developers
  • Proficiency in statistical and database modeling tools, particularly Python, SAS, R, SQL, Access/VBA, etc.
  • Effective time management skills and multi-tasking skills to effectively deliver concurrent projects with completing timelines
  • Ability to supervise and lead junior team members to complete complex projects
  • Strong written and verbal communication skills; skilled at explaining complex concepts ad processes in simple language

We're here to help

At BMO we have a shared purpose; we put the customer at the centre 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 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 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.