Senior Manager, Deposit Fraud Strategy

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.

• 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 Quali File 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.

• Reduction in deposit fraud losses
• Improved customer experience (fewer complaints, clearer policies).
• Stable and optimized IDV and Quali File performance
• On‑time delivery of reviews, releases, and policy updates.

• 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.

• Hands‑on experience with deposit fraud patterns and controls (e.g., check kiting, account takeover).
• Familiarity with IDV solutions and decisioning models (Quali File or similar).
• Understanding of model risk governance and compliance standards.
• Proficiency in analytics tools (SQL, BI platforms).

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

$ - $

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:

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.

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