Sr. AI Risk Officer

BMO•Toronto, ON

2d•CA$94,600 - CA$176,000•Onsite

About The Position

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.

Requirements

Typically 7+ years of relevant experience and post-secondary degree in related field of study or an equivalent combination of education and experience.
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.
Verbal & written communication skills - In-depth / Expert.
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.
Data driven decision making - In-depth / Expert.

Nice To Haves

Graduate degree in a quantitative field, Computer Science, Business Administration, or related field of study preferred.

Responsibilities

Oversee and provide effective challenge on AI risks for a specific set of business groups within 1st line of defense.
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.
Working 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.
Monitors new regulations to understand implications for the framework.
Documentation conclusions from assessments of AI risk profile (e.g. exposures, material initiatives, systems issues or weaknesses in the control structure).
Represents the AI risk for the assigned groups during internal and external review including from internal audit and regulatory agencies.
Assesses of 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 defense on implementation of the AI risk framework, including effective challenge.
Broader work or accountabilities may be assigned as needed.