Senior Manager, Deposit Fraud Strategy
Share
Job Location:
Chicago, IL - USA
Monthly Salary:
$ 102000 - 190000
Posted on:
30+ days ago
Vacancies:
1 Vacancy
Job Summary
Application Deadline:
Address:
320 S Canal StreetJob Family Group:
Customer SolutionsCore Mandate
- Own and manage fraudrelated 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 fraudrelated changes to market.
Key Responsibilities
- Governance & Reviews: Lead semiannual/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 customerimpacting fraud policies; recommend changes to reduce friction while maintaining control strength
- Execution Leadership: Drive delivery of fraudrelated 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
- Ontime delivery of reviews releases and policy updates.
Qualifications
- Experience: Typically 7 years in Product Management Deposits or Fraud/Risk Strategy with a postsecondary degree in Business or related field.
- Skills:
- Indepth 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
- Datadriven decision making Expert.
Preferred:
- Handson 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:
$102000.00 - $190000.00Pay Type:
SalariedThe above represents BMO Financial Groups 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 Groups expected target for the first year in this position.
BMO Financial Groups 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: 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. Well 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 well help you gain valuable experience and broaden your skillset.
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 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.
Required Experience:
Senior Manager
Key Skills
- Marketing
- Data Visualization
- Tableau
- Customer Segmentation
- Microsoft Powerpoint
- Investment Banking
- Strategic Planning
- Financial Modeling
- Customer relationship management
- Management Consulting
- Google Suite
- Analytics
About Company
We cover the whole balance sheet, from foreign exchange, trade finance and treasury management to corporate lending, securitization, public and private debt and equity underwriting. Our team of experts can also provide a full range of advisory services, along with industry-leading res ... View more
