Fraud Risk Manager

Responsibilities

• Provide second-line oversight of fraud-related programs including check fraud, ACH fraud, wire fraud, identity theft, account takeover (ATO), elder financial exploitation, and new account fraud.
• Independently assess and challenge the effectiveness of first-line fraud detection, prevention, and investigation activities across all banking channels (retail, commercial, digital, and card).
• Maintain and continuously enhance the enterprise Fraud Risk Management Policy and supporting standards and procedures.
• Conduct periodic fraud risk assessments to identify emerging threats, control gaps, and areas of heightened risk exposure.
• Serve as a subject matter expert during regulatory examinations, internal audits, and third-party reviews related to fraud risk management.
• Monitor evolving regulatory guidance (FFIEC, CFPB, OCC, FDIC, Federal Reserve) and assess impact on the Bank's fraud program.
• Design and present fraud risk reporting to senior management, risk committees, and the Board as appropriate.
• Analyze fraud trends, loss data, and industry intelligence to proactively identify and communicate emerging risks /material issues.
• Partner with first-line fraud operations, BSA/AML, cybersecurity, legal, and technology teams to ensure an integrated approach to financial crimes and fraud risk management.
• Evaluate existing Verafin fraud agents against existing fraud tools to determine which fraud tool is more efficient.
• Create MRM documentation for all active fraud agents and conduct quarterly monitoring of the efficiency of the fraud agents.
• Collaborate with the Verafin administrator to conduct annual tuning of the Verafin fraud agents.
• Collaborate with other financial institutions and/or law enforcement regarding the recovery of assets and identification of suspects.
• Conduct fraud investigations: interviewing victims, documenting findings, and collaborating with various internal units to make an investigative determination.
• Support the fraud vendor management process, including oversight of third-party fraud tools and platforms.
• Manage Fraud Investigation staff and the daily operations of the team.
• Provide training and awareness to staff on fraud risk trends, policies, and controls as well as deepening training of their roles as required.
• Ensure the work production, timeliness and accuracy of the team.
• Make employment and performance recommendations as well as complete performance reviews and manage staff leave.

Requirements

• Bachelor’s Degree in Arts/Sciences (BA/BS) in criminal justice, business administration, finance, or a related field
• 8 years experience in fraud risk management, financial crimes compliance, or a related field within a financial institution
• 3 years people management/supervisory experience
• Experience with Verafin or other fraud tracking software
• Proficient knowledge of fraud typologies across multiple banking products and channels
• Working knowledge of applicable regulatory frameworks (FFIEC, Regulation E, Regulation CC, BSA/AML)
• Ability to challenge and influence first-line stakeholders constructively
• Proficient written and verbal communication skills, including experience presenting to senior leadership
• Independent judgment and intellectual curiosity
• Risk-based thinking and analytical rigor
• Leadership presence and confidence in challenging the status quo
• Collaborative leadership and cross-functional influence

Preferences

• Advanced degree or certification in fraud examination or risk management
• Experience at a regional bank with assets between $5B–$30B
• CFE (Certified Fraud Examiner), CAMS (Certified Anti-Money Laundering Specialist), CFCS, and/or CRCM or similar certification
• Attention to detail with the ability to see the big picture