Senior AI Risk Officer

The Senior AI Risk Officer, as part of the second line of defense in Operational Non-Financial Risk, will be responsible for the oversight of Artificial Intelligence (AI) deployment at BMO, and ensuring that use cases are consistent with internal risk management frameworks and meet bank standards. The role will support the current AI landscape as well as evolving areas such as generative AI. The role will provide direct oversight of individual use cases and work collaboratively with other teams within the second line of defense to identify the potential risks associated with new use cases. Specific accountabilities include:

• Oversee and provide effective challenge on AI risks for a specific set of business groups within 1st line of defense. The effective challenge will include in-depth review of the solutions and approaches being deployed.
• Develop procedures and testing protocols to facilitate review and challenge.
• Engage in the ongoing improvement and maintenance of the 2nd line of defense Analytics Risk Directive and AI Risk Directive ensuring alignment among key stakeholders and with Operational Non-Financial Risk programs.
• Work closely with other 2nd line of defense functions to create a clear picture of risks associated with AI and generative AI tools. Execute direct accountabilities for AI risk management compared to other frameworks (e.g. model risk management, technology risk).
• Provide conclusions and input as part of various forums and working groups that assess risks of new AI solutions including generative AI.
• Establish ongoing monitoring of risks from AI across the assigned portfolio.
• Monitor new regulations to understand implications for the framework.
• Document conclusions from assessments of AI risk profile (e.g. exposures, material initiatives, systems issues or weaknesses in the control structure).
• Represent the AI risk for the assigned groups during internal and external review including from internal audit and regulatory agencies.
• Assess AI risk pertaining to new business initiatives and third-party engagements to identify potential risks and make recommendations or escalate as per guidelines.
• Provide advice and guidance to the first line of defense on implementation of the AI risk framework, including effective challenge.
• Broader work or accountabilities may be assigned as needed.

Qualifications:

• Typically 7+ years of relevant experience 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.
• Hands-on experience with developing, managing, or deploying models or AI tools.
• Demonstrated capacity for managing and mitigating risks, ensuring adherence to governance and compliance standards.
• In-depth knowledge of emerging technologies and cloud-based tools for AI and Generative AI development.
• In-depth knowledge of emerging global regulatory requirements for AI.
• In-depth/expert knowledge and experience with risk policy frameworks; quality control/testing frameworks.
• Seasoned professional with a combination of education, experience, and industry knowledge.
• Analytical and problem-solving skills - In-depth/Expert.
• Influence skills - In-depth/Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - In-depth/Expert.
• Able to manage ambiguity.

Salary: $92,400.00 - $171,600.00

Pay Type: 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 the 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: https://jobs.bmo.com/global/en/Total-Rewards

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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.

To find out more visit us at https://jobs.bmo.com/ca/en.

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.