Managing Director, Fraud Management Cards

BMO Harris Bank N.A. Seeks Managing Director, Fraud Management Cards

Duties: Manages the relationships with cards lines of business and monitors the customer experience related to fraud, including the protection of client data and assessment of customer interactions and services. Requires strong fraud and regulatory compliance experience, demonstrated knowledge across all business units, and a data-driven decision mindset.

• Defines and enforces a fraud policy and set minimum standards in collaboration with key stakeholders in the card lines of business.
• Provides leadership in collaboration with other senior managers and business partners to develop and implement strategies that effectively manage financial crime risk across the Cards lines of business.
• Identifies business unit control risks and gaps and ensures the treatment of such risks in accordance with enterprise policies.
• Serves as the ultimate client escalation contact when customer expectations are not met in the fraud processes and interactions, and when there are risks within the client accounts or involving client transactions.
• Ensures teams understand regulatory and compliance requirements as prescribed for the function and provides recommendations and implement actions to ensure adherence as required.
• Coordinates with other Enterprise Fraud Management functions (e.g., Strategy and Analytics) to define the customer experience scorecard around product usage and customer attrition to measure impact to revenue preservation and revenue growth.
• Oversees the execution of Fraud Risk Assessments that are focused on corporate and customer assets across BMO.
• Contributes to BMO’s overall results by making recommendations that improve operational efficiency and effectiveness.
• Coordinates with other Enterprise Fraud Management functions (e.g., Strategy and Analytics, Fraud Operations) to monitor risk appetite and tolerance scorecard for adherence to business defined appetite and thresholds.
• Ensures strict confidentiality is maintained for both customer and Bank information to protect the customer and the Bank and to ensure compliance with bank policies and procedures.
• Collaborates with business partners to define the revenue and market presence impact from negative customer experience.
• Manages fraud risk and minimize losses through monitoring, reporting and taking appropriate action, ensuring compliance requirements, audits and verifications are completed in accordance with regulatory requirements and bank policies.
• Lead teams in the delivery of value-based service that builds trust through responsive, accurate, consistent, knowledgeable and available services and support and coordinate with IT groups.
• Leads the collaboration with business partners to define business appetite levels and balance between fraud losses, operating expenses and customer experience friction; business tolerance thresholds, acceptable durations for variances when defined appetite is breached; and business notification and escalation framework at different severity levels when appetite thresholds are breached.
• Leads the development and implementation of fraud strategies across Cards lines of business.
• Works with partners to understand enterprise requirements, direct the development and provision of specific tools to facilitate business processes.
• Defines controls required for any new or existing products based on Fraud Risk Assessments.
• Ensures teams understand risks inherent in the business unit and ensures appropriate actions are taken, including accuracy and safeguarding of all documentation, and other requirements to ensure operational integrity is maintained within the business.
• Oversees the fraud risk management function across the card lines of business, ensuring regulatory compliance and compliance with other relevant internal and external standards and requirements, including local banking laws, other applicable laws and anti-money laundering regulations and guidelines.

Requirements: Bachelor's degree or foreign education equivalent in Engineering, Business Administration, Finance or related field plus ten (10) years of experience in fraud management/strategy development.

Specific skills/other requirements – Must also possess the following (quantitative experience requirements not applicable to this section):

Experience must include the following: strategy and analytics experience managing risk within financial services, leading development and implementation of Fraud strategies; fraud management practices and policies & procedures in a large multi-product, multi business environment; experience leading large teams and leveraging data driven approach to minimize fraud risk; experience conducting fraud risk assessments for enterprise initiatives and defining controls to mitigate risk; cross functional collaboration with business partners and enterprise teams to deliver large scale projects; experience building strategic plans and roadmaps and skilled in senior leadership interactions and presentations; experience balancing risk, driving operational efficiencies and improving customer experience; experience ensuring compliance with regulatory requirements and applicable laws as pertains to Fraud risk areas including Reg-Z and BSA/AML; and experience working with statistical concepts and tools such as SAS, enterprise miner, decision trees, decision platforms, or third party fraud solutions.

10-15% domestic and international travel required.

Please note: the target base salary for this specific position in Chicago is $260,000.00.

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/us/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. BMO is an equal opportunity/affirmative action employer. All qualified applicants will receive consideration for employment without regard to sex, gender identity, sexual orientation, race, color, religion, national origin, disability, protected Veteran status, age, or any other characteristic protected by law. Accommodations are available on request for candidates taking part in all aspects of the selection process. To request accommodation, please contact your recruiter.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.