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Head of Analytics and AI Risk Oversight

3 months ago


Toronto, Ontario, Canada BMO Full time

Position Overview:

The Head of Analytics and AI Risk Oversight will spearhead the establishment and ongoing management of BMO's frameworks for Analytics Risk and Artificial Intelligence (AI) Risk. This role is pivotal within the Data, Analytics, and AI Risk division, acting as a crucial element in the second line of defense. The incumbent will be tasked with the identification, evaluation, administration, monitoring, and reporting of risks associated with Analytics and AI at BMO.

Key Responsibilities:

  • Enhance the capabilities for managing Analytics and AI risks within the second line of defense to ensure the responsible use of emerging technologies.
  • Lead the development and maintenance of the Analytics Risk Directive and AI Risk Directive, ensuring consistency among key stakeholders and alignment with Operational Non-Financial Risk initiatives.
  • Collaborate closely with other second line of defense functions to delineate clear responsibilities for Analytics and AI risk management in relation to other frameworks (e.g., model risk management, technology risk).
  • Establish centralized expertise within the second line of defense to review and challenge individual AI deployment use cases at BMO. Participate in various forums and working groups to evaluate risks associated with new AI solutions, including generative AI.
  • Coordinate input and reviews from multiple second line of defense partners to assess risks linked to new AI and generative AI applications.
  • Engage with industry peers to gather insights and best practices.
  • Monitor and interpret evolving regulations, assessing their impact on the framework and establishing action plans to meet new regulatory expectations.
  • Conduct independent assessments of the analytics and AI risk landscape (e.g., exposures, significant initiatives, system vulnerabilities).
  • Advise on business priorities, resource needs, and develop a strategic roadmap for execution.
  • Evaluate the effectiveness of first line of defense compliance with risk frameworks, identifying issues and recommending necessary adjustments.
  • Represent the analytics and AI risk program during internal and external evaluations, including audits and regulatory reviews.
  • Assess and modify existing operational programs; innovate new capabilities to ensure sustained success.
  • Oversee the evaluation of analytics and AI risks related to new business initiatives and third-party partnerships, identifying potential risks and making recommendations as per established guidelines.
  • Provide guidance to the first line of defense on the implementation of the analytics and AI risk framework, ensuring effective challenge.
  • Additional responsibilities may be assigned as necessary.

Qualifications:

  • Typically requires 9+ years of relevant experience in a technology leadership role (Senior Manager or Director) along with a post-secondary degree in a related field or an equivalent combination of education and experience.
  • A graduate degree in a quantitative discipline, Computer Science, Business Administration, or a related field is preferred.
  • In-depth knowledge of the implications of analytics and AI on risk management practices and the evolving landscape of the field.
  • Comprehensive understanding of changing regulatory requirements affecting analytics and AI.
  • Extensive industry knowledge and recognized as a technical leader and innovator.
  • Exceptional verbal and written communication skills.
  • Strong analytical and problem-solving abilities.
  • Proven influence and collaboration skills, with an emphasis on cross-group teamwork.
  • Adept at managing ambiguity.
  • Expertise in data-driven decision-making.

Compensation and Benefits:

The compensation package includes a competitive salary and a comprehensive benefits program, which may encompass performance-based incentives, discretionary bonuses, health insurance, tuition reimbursement, life insurance, and retirement savings plans.

Company Commitment:

BMO is dedicated to fostering an inclusive, equitable, and accessible workplace. By embracing our diverse perspectives, we strengthen our organization. Accommodations are available upon request for candidates participating in all aspects of the selection process.