VP, Fraud Risk Management

The Vice President, Fraud Risk Management is responsible for establishing and leading the enterprise fraud risk management strategy and serving as the organization's senior second line of defense (2

LOD) leader for fraud risk governance. This role provides executive oversight of fraud risk across products, channels, member interactions, digital banking platforms, payment systems, and third-party relationships, ensuring risks are effectively identified, assessed, monitored, mitigated, and reported.

• Fraud Risk Strategy & Governance
• Establish and execute the enterprise fraud risk management strategy, ensuring alignment with organizational objectives, risk appetite, and regulatory expectations.
• Own the enterprise fraud risk governance framework, including policies, standards, procedures, and oversight activities.
• Establish fraud risk appetite metrics, limits, thresholds, and escalation protocols and monitor adherence across the organization.
• Lead enterprise fraud governance forums and serve as the executive sponsor for fraud risk management initiatives.
• Provide independent challenge and oversight of fraud risk management activities conducted within the first line of defense.
• Policy, Standards & Regulatory Oversight
• Establish fraud-related policies, standards, and enterprise control requirements designed to manage fraud exposure within approved risk tolerances.
• Oversee fraud-related compliance monitoring and governance activities to ensure alignment with applicable laws, regulations, and regulatory expectations.
• Monitor evolving fraud-related regulatory requirements and industry developments and ensure appropriate governance responses are implemented.
• Serve as the primary fraud risk liaison with regulators, auditors, and external stakeholders. Fraud Risk Assessment, Testing & Quality Assurance
• Oversee enterprise fraud risk assessments, control evaluations, and independent reviews across products, services, channels, and business processes.
• Ensure effective fraud control testing, quality assurance, quality control, and monitoring programs are maintained.
• Evaluate the effectiveness of fraud prevention, detection, response, and recovery controls and provide independent challenge of control design and operating effectiveness.
• Ensure identified fraud risks, control weaknesses, and program deficiencies are appropriately escalated, tracked, and remediated.
• Fraud Analytics, Rules Governance & Emerging Risk
• Provide executive oversight of fraud analytics, monitoring strategies, and fraud rules governance programs.
• Oversee governance of fraud detection methodologies, rule changes, decisioning frameworks, and performance metrics.
• Monitor fraud loss trends, emerging fraud schemes, identity theft risks, synthetic identity threats, account takeover risks, and fraud typologies.
• Sponsor innovation and adoption of advanced analytics, automation, artificial intelligence, and fraud intelligence capabilities.
• Identity Theft & Financial Crimes Risk
• Oversee enterprise identity theft risk management and governance programs.
• Ensure the organization maintains robust controls designed to prevent, detect, and respond to identity theft, account misuse, and related fraud events.
• Partner with Financial Crimes, Compliance, Information Security, and Enterprise Risk leaders to address interconnected fraud and financial crime risks.
• Fraud Events, Issue Management & Reporting
• Oversee fraud event reporting, root cause analysis, issue management, and remediation governance activities.
• Ensure material fraud losses, trends, control failures, and emerging risks are escalated appropriately and reported through governance channels.
• Develop and deliver executive and Board-level reporting on fraud risk exposure, key risk indicators, fraud losses, control effectiveness, and emerging threats.
• Present fraud risk insights and strategic recommendations to executive leadership, Board committees, and risk governance forums.
• Leadership Responsibilities
• Lead a multi-layered fraud risk management organization consisting of directors, senior managers, managers, and specialized fraud risk professionals.
• Establish strategic priorities, performance expectations,…