Daily News: January 8, 2019

BMO Launches New Financial Crimes Unit Lead by Zelvin


BMO Financial Group has created a new Financial Crimes Unit and has hired Larry Zelvin to lead it.

Zelvin will report to Steve Tennyson, BMO chief technology and operations officer, and be responsible for defining and executing strategy, mobilizing stakeholders and working in full coordination with businesses across the bank.

The Financial Crimes Unit brings together existing capabilities around cybersecurity, fraud and physical security from across the enterprise into an integrated central function. The unit will leverage a fusion center model, which is widely regarded as an industry leading capability.

Zelvin joins BMO from Citigroup, where he was managing director and global head of Cyber Security. His previous roles include director at the Department of Homeland Security National Cybersecurity and Communications Integration Center and senior director for Response, National Security Council, at the White House.

“Given a growing reliance on advanced digital technologies, the financial services industry is faced with more sophisticated financial crime activities that often exploit misaligned fraud and cyber security practices. It is critical that we continue to invest, and develop our talent and processes to protect information of our customers, the bank and our partners,” said Darryl White, CEO of BMO Financial Group.

“We are continuously improving our security threat detection and response company wide and bringing together our capabilities under one leader is an important next step,” said Tennyson. “Larry has over 25 years of experience as a deep security expert. He has been a significant contributor and instrumental in creating a number of industry-leading cyber security practices.”

The Financial Crimes Unit will work together with BMO’s Anti-Money Laundering group. Herbert Mazariegos, currently BMO’s U.S. chief anti-money laundering officer, has been appointed to the same role for the full BMO Financial Group. Mazariegos has 25 years of financial services experience and has been a key contributor in BMO’s leading AML capabilities.