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Core Mandate

+ **Own and manage fraud‑related parameters** for deposit products (transfer limits, payment limits, hold periods) throughout the product lifecycle.

+ **Define and implement business cases and strategic roadmaps** for fraud mitigation within Deposits, including project and budget approvals.

+ **Monitor product performance and risk metrics** , identify issues, and implement solutions to optimize financial performance and customer experience.

+ **Manage product risks** in compliance with legal, regulatory, and risk frameworks; set risk parameters and tolerance for losses.

+ **Collaborate across enterprise partners** (EFM, Risk, Operations, Digital) to take product-impacting fraud‑related changes to market.

Key Responsibilities

+ **Governance & Reviews:** Lead semi‑annual/annual reviews of fraud controls (limits, holds); document rationale and secure approvals.

+ **Loss Analytics:** Analyze deposit fraud losses; identify root causes and recommend product/process mitigations.

+ **Model Strategy:** Own **Identity Verification (IDV)** and **QualiFile** strategies; manage cutoffs, monitor performance, and ensure compliance with model risk standards.

+ **Customer Experience:** Review all customer‑impacting fraud policies; recommend changes to reduce friction while maintaining control strength

+ **Execution Leadership:** Drive delivery of fraud‑related product initiatives across ownership boundaries; lead change management programs.

Measures of Success

+ Reduction in deposit fraud losses

+ Improved customer experience (fewer complaints, clearer policies).

+ Stable and optimized IDV and QualiFile performance

+ On‑time delivery of reviews, releases, and policy updates.

Qualifications

+ **Experience:** Typically **7+ years** in Product Management, Deposits, or Fraud/Risk Strategy with a post‑secondary degree in Business or related field.

+ **Skills:**

+ In‑depth knowledge of deposit product fundamentals, risk management, and regulatory requirements.

+ Strong experience building business cases, researching market trends, and managing product lifecycle.

+ Advanced analytics and reporting; ability to define requirements and interpret insights.

+ Verbal & written communication – Expert

+ Collaboration & influence – Expert

+ Able to manage ambiguity - Expert

+ Data‑driven decision making – Expert.

Preferred:

+ Hands‑on experience with deposit fraud patterns and controls (e.g., check kiting, account takeover).

+ Familiarity with IDV solutions and decisioning models (QualiFile or similar).

+ Understanding of model risk governance and compliance standards.

+ Proficiency in analytics tools (SQL, BI platforms).

Reporting & Working Model

Reports to Deposits Product Leadership; operates as a trusted advisor to EFM and senior stakeholders. Hybrid role based in Chicago.

Salary:

$102,000.00 - $190,000.00

Pay Type:

Salaried

The above represents BMO Financial Group’s pay range and type.

Salaries will vary based on factors such as location, skills, experience, education, and qualifications for the role, and may include a commission structure. Salaries for part-time roles will be pro-rated based on number of hours regularly worked. For commission roles, the salary listed above represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package will vary based on the pay type of the position and may include performance-based incentives, discretionary bonuses, as well as other perks and rewards. BMO also offers health insurance, tuition reimbursement, accident and life insurance, and retirement savings plans. To view more details of our benefits, please visit: https://jobs.bmo.com/global/en/Total-Rewards

About Us

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 proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [email protected] and let us know the nature of your request and your contact information.

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.