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The Senior Manager, AI Risk (Audit & Regulatory Affairs Lead), operating within the second line of defense (Operational Non-Financial Risk), is responsible for overseeing AI risk management activities for assigned business portfolios while serving as the primary lead for AI-related regulatory engagement, assurance activities, audit coordination, and emerging regulatory intelligence.

The role provides ongoing second-line oversight and effective challenge over AI use cases within assigned portfolios, while also acting as the central coordination point for Internal Audit, regulators, independent reviews, and external assurance activities. The incumbent will monitor the evolving AI regulatory landscape, assess implications for BMO's AI governance framework, and provide strategic guidance to ensure continued alignment with supervisory expectations and industry best practices.

By establishing dedicated ownership of regulatory and assurance activities, this role reduces execution risk associated with regulatory examinations, audit engagements, and evolving regulatory requirements while enabling the broader AI Risk Oversight Group to maintain effective risk governance and portfolio oversight responsibilities.

Key Accountabilities

• Oversee and provide effective challenge on AI risks for an assigned portfolio of business groups and AI use cases, consistent with second-line responsibilities.
• Establish ongoing monitoring activities for assigned portfolios and identify emerging AI risks, control weaknesses, and governance concerns.
• Serve as the primary liaison for Internal Audit, regulators, independent review functions, and external assessors on AI risk matters.
• Coordinate AI Risk participation in regulatory examinations, thematic reviews, horizontal reviews, independent assessments, and audit engagements.
• Lead the development of regulatory briefing materials, examination responses, supervisory requests, and executive communications related to AI risk management.
• Conduct ongoing regulatory scanning and horizon monitoring of global AI regulations, regulatory guidance, enforcement actions, and industry developments.
• Assess the potential impact of emerging regulatory requirements on BMO's AI Risk Framework, directives, standards, governance practices, and control environment.
• Provide thought leadership and recommendations regarding regulatory trends, supervisory expectations, and industry best practices related to responsible AI.
• Identify themes and learnings arising from audit observations, regulatory feedback, industry events, and peer practices and incorporate them into framework enhancements.
• Represent the AI Risk Oversight Group at internal and external governance forums related to AI regulation, policy, assurance, and industry developments.
• Lead the planning, coordination, governance, and reporting of complex cross-functional AI risk initiatives, regulatory examinations, audit engagements, and assurance activities.
• Establish and maintain integrated workplans, dependency management, risk tracking, milestone reporting, and executive governance routines to support delivery of regulatory and assurance commitments.
• Drive accountability across business, technology, risk, compliance, legal, and audit stakeholders to ensure timely execution of agreed actions and deliverables.
• Escalate risks, issues, delays, and interdependencies to senior leadership and governance forums as appropriate.

Success Measures

• Successful coordination and management of AI-related audit, regulatory, and assurance activities with positive stakeholder feedback from Internal Audit, regulators, and senior management.
• Timely completion of regulatory requests, examination deliverables, audit responses, and governance reporting commitments.
• Enhanced regulatory readiness through proactive regulatory scanning, horizon monitoring, and timely assessment of emerging AI regulatory developments.
• Improved executive visibility into AI regulatory, assurance, and risk matters through clear, actionable reporting and governance materials.
• Effective identification, escalation, and management of risks, dependencies, and cross-functional issues impacting regulatory or assurance activities.
• Demonstrated influence in driving alignment across business, technology, risk, compliance, legal, and audit stakeholders.
• Successful integration of regulatory developments, audit observations, and industry best practices into AI risk frameworks, standards, and governance processes.
• Strong execution of assigned AI risk portfolio oversight responsibilities, including effective challenge, ongoing monitoring, and risk reporting.
• Delivery of complex cross-functional programs, workplans, and governance initiatives on schedule with appropriate executive oversight and stakeholder engagement.
• Increased organizational awareness of evolving AI regulatory expectations and their implications for AI governance, risk management, and control frameworks.

Qualifications

• Typically 8+ years of relevant experience and post-secondary degree in a related field of study or an equivalent combination of education and experience.
• Graduate degree in Risk Management, Business Administration, Computer Science, Data Science, Public Policy, Law, or a related field preferred.
• Demonstrated experience in AI risk management, technology risk, model risk, regulatory compliance, audit, operational risk, or related disciplines within a large financial institution or regulated environment.
• Strong understanding of Artificial Intelligence, Generative AI, machine learning technologies, associated risks, and governance frameworks.
• Demonstrated experience working directly with Internal Audit, regulators, external assessors, or assurance functions.
• In-depth knowledge of emerging global AI regulations, supervisory expectations, and industry standards related to responsible AI, model governance, operational resilience, privacy, data governance, and technology risk.
• Strong program management experience leading large-scale, cross-functional initiatives involving multiple stakeholders, governance bodies, regulatory requirements, competing priorities, and executive-level reporting.
• Demonstrated ability to establish and manage complex workplans, milestones, interdependencies, risks, issues, governance forums, and stakeholder communications to drive successful program outcomes.
• Experience influencing senior stakeholders and driving outcomes across business, technology, risk, compliance, legal, and audit functions without direct authority.
• In-depth knowledge of enterprise risk management frameworks, issue management, governance processes, control frameworks, and assurance practices.
• Excellent written and verbal communication skills, including the ability to prepare executive-level presentations, regulatory submissions, briefing materials, and governance reporting.
• Strong analytical and problem-solving skills with the ability to assess complex regulatory, governance, and risk management challenges and develop practical recommendations.
• Proven ability to translate regulatory developments and industry trends into actionable risk management and governance enhancements.
• Ability to manage ambiguity and operate effectively in a rapidly evolving regulatory and technology environment.
• Strong collaboration, relationship management, and influence skills with a demonstrated focus on enterprise-wide stakeholder engagement.
• Data-driven decision-making capabilities with experience developing metrics, reporting, and management information to support governance and oversight activities.
• Seasoned professional with the ability to represent AI Risk in interactions with regulators, auditors, senior executives, and governance committees.
• Experience supporting enterprise transformation, regulatory change, or strategic risk management initiatives is an asset.

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

About Us

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. From in-depth training and coaching, to manager support and network-building opportunities, we’ll help you gain valuable experience, and broaden your skillset.

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.

Note to Recruiters: BMO does not accept unsolicited resumes from any source other than directly from a candidate. Any unsolicited resumes sent to BMO, directly or indirectly, will be considered BMO property. BMO will not pay a fee for any placement resulting from the receipt of an unsolicited resume. A recruiting agency must first have a valid, written and fully executed agency agreement contract for service to submit resumes.