Risk Director, Personal Wealth (Cash and Savings

Overview

Personal Wealth is transforming how investors access personalized financial advice. Vanguard's Personal Wealth division helps individuals and families achieve their financial goals through a broad spectrum of advice and wealth management solutions—ranging from digital advice and financial planning to comprehensive wealth, trust, and family office services. Serving investors across all stages of their financial journey, Personal Wealth combines Vanguard's client-first philosophy, low-cost investing expertise, and innovative technology to deliver advice  division operates across a complex landscape of advice, brokerage, cash management, wealth management, and technology-enabled services, creating unique opportunities to influence both business outcomes and client success.

Cash & Savings is responsible for Vanguard's cash management ecosystem, helping clients save, spend, move, and access their money with confidence. The portfolio includes Vanguard Cash Deposit (VCD), Cash Plus, debit card capabilities, interest rate and tiering programs, money movement services, and the policies, operational processes, and governance frameworks that support them. These offerings sit at the intersection of investing, banking, payments, fraud prevention, and client experience, creating unique opportunities and risks as Vanguard expands its cash capabilities and evolves toward more bank‑like client experiences.

We are seeking a Risk Director to provide independent risk oversight, credible challenge, and strategic risk advisory support across this growing portfolio. As a trusted advisor to business leadership, the Risk Director will partner closely with product, operations, technology, legal, compliance, financial crimes, and third‑party providers, including sponsor banks, payment processors, and network partners, to ensure new capabilities are designed, launched, and scaled in a risk‑smart, compliant, and operationally resilient manner.

The role provides operational risk expertise, guidance, oversight, and assurance services across cash products, payments, and money movement capabilities, while helping strengthen divisional risk frameworks to support effective risk identification, mitigation, governance, and decision‑making.

This role is particularly important as Vanguard continues to modernize money movement capabilities, expand Cash Plus, launch debit card capabilities, and enhance client access, speed, transparency, and flexibility. The Risk Director will oversee risks associated with cash products, deposits, interest rate and tiering programs, money movement policies and operations, payment capabilities, third‑party banking relationships, fraud prevention, operational resiliency, and regulatory compliance.

The successful candidate will understand and challenge complex risks associated with funds availability, transaction processing, fraud and scam mitigation, money movement infrastructure, and emerging payment capabilities while influencing executive decision‑making through risk assessments, strategic advisory support, and effective challenge.

• Experience partnering with cross‑functional teams (product, technology, operations, legal, compliance) and third‑party vendors to support the design, launch, and ongoing oversight of payment products in complex, highly regulated environments.
• Demonstrated familiarity with payments ecosystems, including debit card programs, money movement, real‑time payments, and digital payment models, across issuer, processor, network, and/or sponsor bank environments.
• Demonstrated expertise in payment products, money movement operations, and associated regulatory and industry frameworks (e.g., Reg E, dispute handling, error resolution, fraud and scam management, NACHA Operating Rules, AML/KYC, PCI‑DSS, consumer protection requirements, and third‑party payment ecosystems).
• Partner with the business to mitigate risk and optimize process efficiency across debit card and digital payment operations. Apply deep industry and technical risk expertise to design effective controls spanning KYC, transaction monitoring,…