Director, Operational Risk (Fraud and Payments Risk)

Navy Federal Credit Union•Vienna, VA

10d

About The Position

Leads and oversees the second line of defense (2LOD) operational risk management functions for both Fraud and Payments risk, providing direction and leadership in identifying, analyzing, and mitigating operational risks. Develops and implements risk policies, frameworks, and governance structures to enhance risk resilience. Leads cross-functional risk initiatives and collaborates with senior executives to drive a culture of risk awareness. Serves as a key advisor on risk-related matters and ensures compliance with regulatory standards. Manages multiple teams and influences risk strategy across business units, driving operational excellence and enterprise risk management maturity. More specifically, this role will help build a second line of defense oversight for the Fraud and Payments risk management programs within Navy Federal. The Director will establish and maintain an enterprise fraud and payments risk governance framework, independently challenge first-line fraud prevention and detection activities, and ensure adherence to regulatory expectations such as those from the FFIEC, CFPB, NCUA, and other supervisory bodies. Responsibilities include developing fraud and payments risk appetite statements, performing ongoing risk assessments, conducting thematic reviews, and driving governance routines that enhance transparency and accountability for both programs. The role ensures that fraud risks across payments, digital channels, identity, internal fraud, scams, and emerging threat vectors are effectively identified, monitored, and escalated. Additionally, the Director partners with enterprise fraud operations, compliance, cybersecurity, and technology teams to strengthen controls, enhance data-driven insights, and support the development of sustainable, well-governed fraud mitigation strategies. The Director will also partner with the Payments team to identify, assess, monitor and report on related risks and controls. Navy Federal provides much more than a job. We provide a meaningful career experience, including a culture that is energized, engaged and committed; and fierce appreciation for our teams, who are rewarded with highly competitive pay and generous benefits and perks. Our approach to careers is simple yet powerful: Make our mission your passion.

Responsibilities

Leads and oversees the second line of defense (2LOD) operational risk management functions for both Fraud and Payments risk
Develops and implements risk policies, frameworks, and governance structures to enhance risk resilience.
Leads cross-functional risk initiatives and collaborates with senior executives to drive a culture of risk awareness.
Serves as a key advisor on risk-related matters and ensures compliance with regulatory standards.
Manages multiple teams and influences risk strategy across business units, driving operational excellence and enterprise risk management maturity.
Establish and maintain an enterprise fraud and payments risk governance framework
Independently challenge first-line fraud prevention and detection activities
Ensure adherence to regulatory expectations such as those from the FFIEC, CFPB, NCUA, and other supervisory bodies
Developing fraud and payments risk appetite statements
Performing ongoing risk assessments
Conducting thematic reviews
Driving governance routines that enhance transparency and accountability for both programs
Ensure that fraud risks across payments, digital channels, identity, internal fraud, scams, and emerging threat vectors are effectively identified, monitored, and escalated.
Partner with enterprise fraud operations, compliance, cybersecurity, and technology teams to strengthen controls, enhance data-driven insights, and support the development of sustainable, well-governed fraud mitigation strategies.
Partner with the Payments team to identify, assess, monitor and report on related risks and controls.