Director, Analytics and AI Risk Management Data Risk

at  BMO Financial Group

100 King Street West Toronto Ontario,M5X 1A1
The Director, Analytics and AI Risk Management will be responsible for the implementation and maintenance of BMO’s Analytics Risk and Artificial Intelligence (AI) Risk frameworks. As part of the Data, Analytics, and AI Risk team in the second line of defence, the Director will oversee the identification, assessment, management, monitoring, and reporting of Analytics and AI risk for BMO. The role will act as a key partner in defining an appropriate set of risk-based requirements to oversee evolving technology and innovation and its application.

Specific accountabilities for the role include:

• Advancing Analytics and AI risk management capabilities in the second line of defence to oversee the responsible deployment of new technologies.
• Lead and maintain the 2nd line of defence Analytics Risk Directive and AI Risk Directive ensuring alignment among key stakeholders and with Operational Non-Financial Risk programs.
• Working closely with other 2nd line of defence functions to ensure clear accountabilities for Analytics and AI risk management compared to other frameworks (e.g. model risk management, technology risk).
• Develops centralized expertise within the second line of defence to perform review and challenge of individual use cases for AI deployment at BMO. Serve on various forums and working groups to assess risks of new AI solutions including generative AI.
• Coordinates reviews and inputs from multiple second line of defense partners in assessing risks posed by new AI and generative AI use cases and solutions.
• Networks with industry contacts to gather competitive insights and best practices.
• Monitors and interprets new regulations and assesses impacts to the framework. Establish action plans to meet evolving regulatory expectations as they arise.
• Independently assesses the analytics and AI risk profile (e.g. exposures, material initiatives, systems issues or weaknesses in the control structure).
• Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
• Monitors the effectiveness of first line of defence adherence to risk frameworks and highlights issues and recommends changes as required.
• Represents the analytics and AI risk program during internal and external review including from internal audit and regulatory agencies.
• Assesses and adapts existing operational programs; develops new capabilities to ensure ongoing success.
• Oversees assessment of analytics and AI risk pertaining to new business initiatives and third party engagements to identify potential risks and make recommendations or escalate as per guidelines.
• Provides advice and guidance to the first line of defence on implementation of the analytics and AI risk framework, including effective challenge.
• Broader work or accountabilities may be assigned as needed.

QUALIFICATIONS:

• Typically 9+ years of relevant experience as a Technology Leader (Senior Manager or Director) and post-secondary degree in related field of study or an equivalent combination of education and experience.
• Graduate degree in a quantitative field, Computer Science, Business Administration or related field of study preferred.
• Expert knowledge of the impact of analytics and AI on risk management practices and evolving practices in the field.
• Expert knowledge of evolving regulatory requirements impacting analytics and AI.
• Seasoned expert with extensive industry knowledge.
• Technical leader viewed as a thought leader for innovation.
• Verbal & written communication skills - Expert.
• Analytical and problem solving skills - Expert.
• Influence skills - Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - Expert.
• Able to manage ambiguity.
• Data driven decision making - Expert.

• Advancing Analytics and AI risk management capabilities in the second line of defence to oversee the responsible deployment of new technologies.
• Lead and maintain the 2nd line of defence Analytics Risk Directive and AI Risk Directive ensuring alignment among key stakeholders and with Operational Non-Financial Risk programs.
• Working closely with other 2nd line of defence functions to ensure clear accountabilities for Analytics and AI risk management compared to other frameworks (e.g. model risk management, technology risk).
• Develops centralized expertise within the second line of defence to perform review and challenge of individual use cases for AI deployment at BMO. Serve on various forums and working groups to assess risks of new AI solutions including generative AI.
• Coordinates reviews and inputs from multiple second line of defense partners in assessing risks posed by new AI and generative AI use cases and solutions.
• Networks with industry contacts to gather competitive insights and best practices.
• Monitors and interprets new regulations and assesses impacts to the framework. Establish action plans to meet evolving regulatory expectations as they arise.
• Independently assesses the analytics and AI risk profile (e.g. exposures, material initiatives, systems issues or weaknesses in the control structure).
• Recommends business priorities, advises on resource requirements and develops roadmap for strategic execution.
• Monitors the effectiveness of first line of defence adherence to risk frameworks and highlights issues and recommends changes as required.
• Represents the analytics and AI risk program during internal and external review including from internal audit and regulatory agencies.
• Assesses and adapts existing operational programs; develops new capabilities to ensure ongoing success.
• Oversees assessment of analytics and AI risk pertaining to new business initiatives and third party engagements to identify potential risks and make recommendations or escalate as per guidelines.
• Provides advice and guidance to the first line of defence on implementation of the analytics and AI risk framework, including effective challenge.
• Broader work or accountabilities may be assigned as needed