Senior Manager, Deposit Fraud Strategy

BMO•Chicago, IL

12h•$102,000 - $190,000•Hybrid

About The Position

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. Key Responsibilities 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 QualiFile 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. Measures of Success Reduction in deposit fraud losses Improved customer experience (fewer complaints, clearer policies). Stable and optimized IDV and QualiFile performance On‑time delivery of reviews, releases, and policy updates.

Requirements

Typically 7+ years in Product Management, Deposits, or Fraud/Risk Strategy with a post‑secondary degree in Business or related field.
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

Nice To Haves

Hands‑on 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).

Responsibilities

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.
Lead semi‑annual/annual reviews of fraud controls (limits, holds); document rationale and secure approvals.
Analyze deposit fraud losses; identify root causes and recommend product/process mitigations.
Own Identity Verification (IDV) and QualiFile strategies; manage cutoffs, monitor performance, and ensure compliance with model risk standards.
Review all customer‑impacting fraud policies; recommend changes to reduce friction while maintaining control strength
Drive delivery of fraud‑related product initiatives across ownership boundaries; lead change management programs.