Senior Model Risk Specialist, AML & Fraud Senior Model Risk Specialist, AML & Fraud …

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 Model Risk Specialist, AML & Fraud

Assist the Senior Manager and Director of the AML & Fraud Model Validation (MV) team with enterprise-wide management of model risk so that the bank is not subject to unjustified (in a risk vs. return framework), undue, and unidentified risks due to the use of models and promoting the transparency and understanding of models and model risks used across the Bank in AML & Fraud areas. The mandate of this position is summarized as follows:

• Effectively identify risks associated with models; timely, accurately and independently assess models used in the areas of responsibility; and tactfully provide the recommendations to model owners and users to mitigate the risks
• Assist the Senior Manager to develop/continuously enhance model validation methodology; and conduct validation
• Ensure that the models (development, documentation, usage, etc.) in AML & Fraud areas are compliant with the Bank's Enterprise Model Risk Framework, and are compliant with OSFI/FRB/OCC's requirement
• Provide advisory support to large-scale projects as required and other work streams as appropriate and requested to ensure that bank's models are in line with industry best practice
• Support the Senior Manager in the development and execution of overall work plan.


  • Hands-on and advanced knowledge in AML or Fraud models (transaction monitoring, Watchlist Screening, Customer Risk Rating, credit card fraud) etc.
  • Good knowledge and relevant training in data mining, machine learning, and statistical analysis techniques, with minimal 3 years of demonstrated experience pertaining to AML/Fraud or machine learning/statistical modeling.
  • In-depth knowledge of industry best practices;
  • Good knowledge of regulatory requirements on AML models; experience in regulatory matters as an asset
  • Minimum: Master's Degree, PhD. preferred in a quantitative field e.g., Mathematics, Computer Science, Statistics and Engineering.
  • AML Designation such as CAMS, ACAMS preferred
  • Detail-oriented, analytical, well organized, highly self-motivated and good interpersonal skills
  • Effective time management in order to efficiently deliver concurrent projects with competing priorities
  • Good ability of conflict-solving; and ability to collaboratively work with model owner/sponsor counterparts
  • Effective presentation and communication skills; Ability to convey complex concepts and outcomes to non-subject matter experts.
  • Proficiency in computing development skills, particularly statistical and database modeling tools (Python, SAS, R, SQL, Matlab, Access/VBA etc.). Ability to adapt to various programming languages and environments. Advanced SAS proficiency is required
Education and Accreditations:

  • Master degree in Mathematics, Computer Science, Statistics, Physics and/or Engineering, etc.
  • PhD in quantitative field or combination of quantitative and business degrees preferred
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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.

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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.