Director, Operational Risk (Fraud and Payments Risk)
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.
Requirements
- Experience in operational risk management, specifically in Fraud and Payments risk.
- Experience in developing and implementing risk policies, frameworks, and governance structures.
- Experience leading cross-functional risk initiatives and collaborating with senior executives.
- Experience advising on risk-related matters and ensuring compliance with regulatory standards.
- Experience managing multiple teams.
- Experience influencing risk strategy across business units.
- Experience in building a second line of defense oversight for risk management programs.
- Experience establishing and maintaining enterprise risk governance frameworks.
- Experience challenging first-line prevention and detection activities.
- Experience ensuring adherence to regulatory expectations (FFIEC, CFPB, NCUA, etc.).
- Experience developing risk appetite statements.
- Experience performing risk assessments and thematic reviews.
- Experience driving governance routines for transparency and accountability.
- Experience identifying, monitoring, and escalating fraud risks across various channels and threat vectors.
- Experience partnering with fraud operations, compliance, cybersecurity, and technology teams.
- Experience strengthening controls and enhancing data-driven insights.
- Experience supporting the development of fraud mitigation strategies.
- Experience identifying, assessing, monitoring, and reporting on related risks and controls with Payments teams.
Responsibilities
- 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.
- 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.
- Develop fraud and payments risk appetite statements.
- Perform ongoing risk assessments.
- Conduct thematic reviews.
- Drive 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.
Benefits
- Highly competitive pay
- Generous benefits and perks
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What This Job Offers
Job Type
Full-time
Career Level
Director
Education Level
No Education Listed
