Director, Fraud Operations

BMO U.S.; California (MO); On-site; USD 128,000 - 238,000; Full time

Job summary

A leading financial institution is seeking a Director of Fraud Operations to lead a team of over 50 professionals. This role involves developing innovative fraud prevention strategies and managing the complete fraud management lifecycle. Join a mission-driven team focused on safeguarding customers against financial crime, leveraging your expertise in fraud detection and regulatory compliance.

Benefits

Health insurance

Tuition reimbursement

Accident and life insurance

Retirement savings plans

Qualifications

• 5+ years of experience in people leadership roles of a large team.
• 10+ years of progressive experience in fraud detection and/or prevention within banking or financial services.
• Proven track record of reducing fraud loss and enhancing operational efficiency.

Responsibilities

• Responsible for fraud prevention, detection, and remediation across the full fraud management lifecycle.
• Establish and communicate vision, strategy, and outcomes for operational teams.
• Direct complex investigations into internal and external fraud incidents.

Skills

Leadership

Fraud Detection

Analytical Skills

Communication

Problem Solving

Cross-group Collaboration

Data-driven Decision Making

Education

Bachelor's degree (preferable in Finance or related field)

Tools

Fraud Detection Systems

Case Management Tools

Job description

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Are you a seasoned fraud leader ready to lead at scale and make a meaningful impact? Join a forward-thinking financial institution where your leadership drives the frontline defense against financial crime. As the Head of Fraud Operations, you won’t just be managing risk—you’ll be setting the vision for proactive fraud prevention, transforming systems, leading a team of 50+ professionals, and influencing enterprise-wide strategies.

The Financial Crimes Unit (FCU) at BMO brings together and collaborates with Cybersecurity, and Physical Security capabilities to address the ever-growing and increasingly complex global security environment. It is a highly collaborative effort that greatly enhances our ability to rapidly prevent, detect, respond to, and recover from all security threats. This position offers a unique experience to learn from experienced leaders in the industry, join a team building a best in class model for security and helping grow the good by protecting our customers and communities.

At our organization, we empower leaders who are:

• Strategic Visionaries – Lead the evolution of fraud prevention across channels with cutting-edge detection systems and a data-driven mindset.
• Operational Champions – Own the full fraud management lifecycle, from real-time monitoring to complex investigations, recovery, and regulatory compliance.
• Trusted Advisors – Represent the fraud function in executive committees and cross-functional teams, partnering across cybersecurity, legal, and risk to safeguard customer trust.
• People-First Leaders – Inspire and lead a high-performing team in a collaborative, agile environment focused on innovation and continuous improvement.
• Industry Experts – Bring your deep knowledge of fraud typologies and regulatory frameworks to a platform that values your insights and supports your growth.
  
  
  

We offer more than a role—we offer a mission: to protect our customers, our business, and our future. Be at the center of fraud intelligence, innovation, and impact.

What skills do you need to be successful?

• 5+ years of experience in people leadership roles of a large team (50+)
• 10 + years of progressive experience in fraud detection and/or prevention within banking or financial services.
• Expertise in fraud detection systems and case management tools
• Proven track record of reducing fraud loss and enhancing operational efficiency through process or system improvements.
• Strong knowledge of fraud typologies, regulatory frameworks, and industry best practices.
• Familiarity with banking products and channels (e.g., retail, commercial, online/mobile banking).
• Exceptional leadership, analytical, and communication skills.
• Seasoned expert with extensive industry knowledge.
• Technical leader viewed as a thought leader for innovation.
• Verbal & written communication skills - Expert.
• Analytical and problem solving skills - Expert.
• Influence skills - Expert.
• Collaboration & team skills; with a focus on cross-group collaboration - Expert.
• Able to manage ambiguity.
• Data driven decision making - Expert.
  
  
  

What will you be doing?

• Responsible for fraud prevention, detection, and remediation across the full fraud management lifecycle.
• Establishing the broad vision, strategy, and key outcomes for the operational teams by ensuring employees and customers are at the center of plans, designs, and development.
• Conducts investigations to identify, assess, decision and report on activity that indicates an exposure to financial crimes.
• Ensures potential threats and investigations are evaluated, documented, managed and escalated by following standard operating procedures.
• Provides subject matter expertise and oversight of criminal risk by following a disciplined and intelligence-based approach to detection and research of activities and events in alignment with criminal risk frameworks and standards to ensure compliance as well as support trending, analysis and insights generation.
  
  
  

Fraud Prevention & Detection:

• Develop and lead strategies to prevent and detect various types of fraud, including:
• Identity theft
• Account takeover
• Payment fraud (ACH, wire, cards)
• Check fraud
• Digital and mobile banking fraud
• Oversee the deployment and tuning of fraud detection systems and rules engines.
  
  

Team & Operations Management:

• Lead and manage the bank’s Fraud Operations teams, including transaction monitoring, investigations, and fraud case management.
• Define operational procedures for real-time monitoring, case management, and escalations.
• Ensure 24/7 coverage for fraud monitoring, where applicable.
• Oversee real-time fraud detection and alert response processes across all channels (e.g., digital banking, cards, wires, ACH).
• Coordinate major incident response for fraud-related events, including customer impact mitigation and internal communication.
  
  
  

Investigations & Recovery:

• Direct complex investigations into internal and external fraud incidents.
• Coordinate with internal audit, legal, compliance, and law enforcement as needed.
• Ensure consistent and timely case handling and resolution, including recovery efforts.
  
  
  

Strategic Leadership:

• Develop and implement the fraud operations strategy aligned with enterprise risk appetite and business objectives
• Drive continuous improvement in fraud operations through technology, process optimization, and automation.
• Analyze fraud trends and data to inform strategic decisions and investments.
• Represent the fraud function in senior risk committees and business meetings.
• Continuously monitor fraud trends and emerging threats; recommend enhancements to rules, thresholds, and detection logic.
  
  
  

Regulatory Compliance & Reporting:

• Ensure compliance with financial regulations and support audits, exams, and regulatory reporting
• Maintain proper documentation and audit trails for all fraud investigations.
• Prepare reports for senior management, regulators, and auditors.
• Report regularly to executive management and committees on key metrics, fraud losses, operational performance, and risk exposure
  
  
  

Cross-functional Collaboration:

• Partner with technology, cybersecurity, risk, legal, and customer service teams.
• Collaborate with business units to educate and embed fraud prevention practices.
• Build strong partnerships with Legal, Compliance, Risk, Cybersecurity, and Customer Service to ensure a unified fraud management approach.
  
  
  

Salary:

$128,000.00 - $238,000.00

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 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/us/en

BMO is proud to be an equal employment opportunity employer. We evaluate applicants without regard to race, religion, color, national origin, sex (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, transgender status, sexual stereotypes, age, status as a protected veteran, status as an individual with a disability, or any other legally protected characteristics. We also consider applicants with criminal histories, consistent with applicable federal, state and local law.

BMO is committed to working with and providing reasonable accommodations to individuals with disabilities. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to [e-mail] and let us know the nature of your request and your contact information.

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.

Seniority level

• Seniority level

  Not Applicable

Employment type

• Employment type

  Full-time

Job function

• Job function

  Management and Manufacturing

• Industries

  Banking

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