Director, AI Assurance & Audit

About the role

Lead the enterprise AI assurance and audit program by setting the multi-year AI audit strategy, defining the audit universe, and establishing enterprise-wide AI assurance frameworks, methodologies, and coverage for Artificial Intelligence (AI), including Generative AI, Large Language Models, and AI-enabled processes.

Provide independent assurance and effective challenge to senior management by evaluating the maturity, scalability, and effectiveness of AI governance, Responsible AI frameworks, and risk management practices, while overseeing enterprise-level risks such as bias, explainability, transparency, privacy, hallucinations, model misuse, and regulatory compliance.

Lead the AI Assurance Center of Competency, drive capability building and methodology standards, and act as the primary interface with regulators and external stakeholders. Direct complex, cross-enterprise audits, aggregate thematic insights, assess regulatory readiness, and deliver authoritative, forward-looking assurance opinions to executive leadership, the Audit Committee, and the Board to strengthen governance, influence strategy, and mitigate systemic operational, ethical, and reputational risks arising from AI adoption.

Conduct audit engagements to critically assess management and internal control processes, approving the nature, extent, and timing of the audit, its execution, and the formulation of insightful audit reports. Report on audits to provide clear, concise, and memorable insights on issues and potential issues to assist management in fulfilling mandates. This work provides vital assurance to the Board of Directors and senior management on the quality of internal control systems and reduces the risk of loss and reputational damage to the Company.

Provide independent assurance on the quality and effectiveness of internal control, risk management, and governance systems and processes to support senior management and the Board in protecting BMO and its reputation. Foster a culture aligned with BMO’s purpose, values, and strategy, and role model BMO values and behaviors in all actions.

Responsibilities

• Build interdependent teams that collaborate across functional and operating groups to create the highest value for all stakeholders.
• Attract, retain, and enable the career development of top talent. Improve team performance, recognize and reward performance, coach employees, support their development, and manage poor performance.
• Act as a trusted resource providing advice to executive leaders on risk, governance, and internal controls.
• Provide advice to executive leaders on risk, governance, and controls relating to strategy and new initiatives, based on an in-depth understanding of the business/group.
• Meet regularly with business/group stakeholders to identify changing strategies, tactics, and initiatives and evaluate changes to the risk environment.
• Network with industry contacts to gather competitive insights and best practices.
• Advise or serve on various committees and task forces. Recommend business priorities, advise on resource requirements, and develop roadmaps for strategic execution.
• Act as the prime contact for external stakeholder relationships, including regulators. Monitor and track performance, and resolve any issues.
• Collaborate across BMO to develop communications strategies and ensure consistency of messaging to positively influence or change behavior.
• Lead change management programs of varying scope and type, including readiness assessments, planning, stakeholder management, execution, evaluation, and sustainment of initiatives.
• Ensure all audits are conducted effectively and efficiently to the high standards set by Corporate Audit, confirmed through the Audit’s Quality Assurance Program and/or regulatory examination results.
• Ensure Corporate Audit KPIs are met. Motivate continued high performance by enhancing and executing the Corporate Audit People Strategy, including skill transformation and career development.
• Enhance Competency Self-Assessment and Individual Development Plan views of skills and knowledge.
• Recommend modifications to division training to address evolving needs identified through self-assessments, QA reviews, emerging trends, and regulatory expectations.
• Recommend changes to team structure and succession planning to enable effective completion of the overall Corporate Audit mandate.
• Execute audits with full recognition of group risks, encompassing inherent risks, control risks, and internal/external environment and regulatory risks.
• Conduct advisory engagements and other engagements as required. Determine the impact of changing strategies, tactics, risks, and initiatives on audit, advisory, and investigative services.
• Identify and evaluate the impact of new and emerging technology and technology risk on the organization’s processes and control environment.
• Utilize data analytics in advisory engagements to improve quality and efficiencies.
• Develop awareness of business strategies, policies, and standards to provide meaningful insights based on knowledge and research, improving enterprise management and control processes.
• Maintain the independence of the audit practice and its personnel.
• Develop insightful discussion points for audit reports, providing a fair and balanced assessment of governance, risk, and control processes based on audit work performed.
• Identify control deficiencies and provide a fair and balanced assessment of their magnitude.
• Maintain a working knowledge of the industry, regulatory environment, broad economic environment, and internal environment to understand the control environment.
• Ensure all audit procedures are conducted in accordance with Corporate Audit Methodology, confirmed by its Quality Assurance program and/or regulatory examination results.
• Apply sound judgment in executing assigned work and ensure open lines of communication. Develop and maintain good working relations with key stakeholders.
• Actively monitor change management initiatives and identify potential risks. Participate in and support Corporate Audit change initiatives.
• Maintain and enhance professional audit qualifications in line with industry standards.
• Operate at a group/enterprise-wide level and serve as a senior specialist resource across BMO.
• Influence how teams/groups work together. Apply expertise and think creatively to address unique or ambiguous situations and find solutions to complex problems.
• Communicate abstract concepts in simple terms. Foster strong internal and external networks and work across multiple teams to achieve business objectives.
• Anticipate trends and respond by implementing appropriate changes.

Requirements

• Typically 9+ years of relevant experience and post-secondary degree in a related field of study or an equivalent combination of education and experience.
• Professional designations such as CIA, CISA, CPA, or CRISC.
• Preferred certifications: ISACA AAIA, ISACA Artificial Intelligence Fundamentals, GARP AIRG, AIGP.
• Deep understanding of Generative AI, LLMs, AI Agents, RAG, Responsible AI principles, AI governance frameworks, and AI assurance practices.
• Experience presenting assurance findings to Executive Management, Audit Committees, Boards, and regulators.
• Seasoned expert with extensive industry knowledge. Technical leader viewed as a thought leader for innovation.
• Expert-level verbal and written communication skills.
• Expert-level analytical and problem-solving skills.
• Expert-level influence skills.
• Expert-level collaboration and team skills, with a focus on cross-group collaboration.
• Able to manage ambiguity.
• Expert-level data-driven decision-making skills.
• Role requires 3 days a week in office (Chicago, Milwaukee, California) subject to change.

Pay

Salary: $137,000.00 - $238,000.00 (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 hours regularly worked. For commission roles, the salary listed represents BMO Financial Group’s expected target for the first year in this position.

BMO Financial Group’s total compensation package may include performance-based incentives, discretionary bonuses, as well as other perks and rewards.

Benefits

• Health insurance
• Tuition reimbursement
• Accident and life insurance
• Retirement savings plans

To view more details of our benefits, please visit: BMO Total Rewards.