Fraud Officer, Vice President (Wealth Custody and Clearing)

State Street•Dallas, TX

About The Position

State Street Wealth Services – Wealth Custody and Clearing is seeking an experienced Vice President to serve as Fraud Officer. Reporting to the Head of Wealth Custody and Clearing Compliance, this role is dedicated to establishing, implementing, and executing the business’s fraud risk management program. The Fraud Officer will translate enterprise fraud policy and regulatory expectations into a practical, sustainable, risk-based program tailored to the business model, client lifecycle, products, channels, and third-party ecosystem. The position provides focused leadership and accountability for fraud risk across Wealth Custody and Clearing, helping protect client assets and information, meet policy and regulatory expectations, strengthen preventive and detective controls, and support a secure, client-focused operating model. The Fraud Officer is the principal Wealth Custody and Clearing liaison to the State Street Fraud Program Office and relevant governance forums, and works across Compliance, Business Risk Management, Operations, Product, Technology, Data, Global Security, Cybersecurity, Legal, Audit, and service providers. The role owns the program’s design, governance, standards, procedures, controls, roadmap, monitoring, reporting, training, and continuous improvement. It coordinates the business response to potential or confirmed fraud events while preserving the formal investigative responsibilities of Global Security, Legal, and other designated functions. The Fraud Officer also sets expectations for third-party oversight, reviews fraud risks in new products and changes, and advises business and control partners on risk-based decisions and remediation. The position calls for senior fraud risk leadership in a regulated financial institution, sound judgment, executive communication, and the ability to build a program from design through execution and drive outcomes across a matrixed organization.

Requirements

Bachelor’s degree or equivalent relevant experience.
At least 10 years of relevant experience in fraud risk management, fraud strategy, fraud operations, financial crimes compliance, operational risk, business risk management, investigations, audit, or a related discipline, including meaningful experience leading programs or major workstreams.
Experience in banking, broker-dealer, wealth management, custody, clearing, payments, fintech, or another highly regulated financial services environment.
Demonstrated success designing and implementing fraud frameworks, controls, analytics, governance, reporting, and remediation in a complex organization.
Working knowledge of fraud risks affecting onboarding, authentication, account servicing, money movement, digital channels, employee access, third parties, and vulnerable clients.
Experience overseeing material third parties and defining control, data, incident, service-level, and escalation requirements.
Experience engaging senior management, regulators, auditors, and governance committees on fraud risk matters.
Executive ownership and accountability for building and operating a fraud risk management program in a complex, regulated environment.
Deep expertise in fraud typologies, prevention and detection, risk assessment, control design, analytics, incident response, issue management, and third-party oversight.
Ability to turn policy, regulatory expectations, risk information, and operational realities into an executable program with clear ownership, milestones, and measurable outcomes.
Strong executive communication and ability to present complex fraud issues, options, and recommendations to senior management and governance forums.
Demonstrated ability to influence senior stakeholders and drive action across a matrixed organization without relying solely on direct authority.
Sound judgment under pressure, including prompt escalation, risk-based recommendations, and balancing fraud-loss prevention with client experience and operational efficiency.
Strong understanding of first-, second-, and third-line responsibilities and ability to work effectively across Compliance, business, risk, audit, and investigative functions.
High integrity, discretion, and ability to manage sensitive incidents, confidential information, and competing priorities.

Nice To Haves

An advanced degree.
Experience with risk, issue, reporting, case-management, or data-visualization platforms such as Archer, OpenPages, Tableau, and SharePoint.

Responsibilities

Own the end-to-end design, implementation, execution, maintenance, and continuous enhancement of the Wealth Custody and Clearing fraud risk management program, including its operating model, governance, standards, procedures, control framework, and roadmap.
Set program strategy and priorities in alignment with State Street’s Fraud Risk Management Policy, enterprise risk appetite, applicable legal and regulatory requirements, business objectives, and the evolving operating model.
Establish fraud governance, decision rights, escalation thresholds, roles, responsibilities, reporting routines, and documented accountability across the business and its internal and external partners.
Direct periodic and event-driven fraud risk assessments across products, services, client types, digital channels, processes, systems, and third-party relationships; translate findings into remediation plans and measurable risk-reduction priorities.
Define minimum preventive and detective controls for onboarding, identity verification, authentication, account servicing, beneficiary and ownership changes, money movement, ACH, wires, disbursements, ACATS and other asset transfers, employee access, exception management, and other high-risk activities.
Drive control implementation with accountable owners; establish evidence and testing expectations; assess control design and operating effectiveness; and require timely remediation or compensating controls for identified gaps.
Establish the fraud detection and analytics agenda, including data requirements, typologies, scenarios, rules, thresholds, alert quality standards, and management information; partner with Technology, Data, Operations, and platform providers to develop scalable detection capabilities.
Own key risk indicators, key performance indicators, and thresholds covering incidents, attempted and actual losses, prevented losses, false positives, client friction, investigation timeliness, control performance, and remediation progress.
Lead Wealth Custody and Clearing coordination for potential or confirmed fraud events under enterprise reporting pathways and the Fraud Response Plan, ensuring prompt escalation, containment, evidence preservation, stakeholder engagement, and management communication.
Direct root-cause and lessons-learned reviews, ensure control deficiencies are documented and assigned, challenge remediation plans, and drive sustainable closure through applicable issue-management processes.
Set fraud control, data-sharing, incident-notification, audit-trail, service-level, and escalation expectations for Apex and other material service providers, technology vendors, RIAs, and correspondent relationships; establish risk-based due diligence, monitoring, scorecards, and event-driven reviews.
Review and challenge fraud risks in new products, client propositions, material process changes, technology releases, and market expansion; define controls and readiness conditions before launch and monitor post-launch performance.
Sponsor fraud prevention measures addressing account takeover, identity theft, impersonation, social engineering, scams, unauthorized transfers, insider activity, and financial exploitation of vulnerable or specified adults while balancing client experience and operational efficiency.
Maintain alignment with State Street policies and relevant regulatory expectations, and coordinate fraud-related regulatory, audit, and independent-review readiness with Compliance, Legal, Regulatory Relations, Business Risk Management, and Internal Audit.
Provide concise, forward-looking reporting and recommendations to the Head of Wealth Custody and Clearing Compliance, business leadership, and governance committees; promptly escalate material exposures, incidents, control failures, and overdue remediation.
Serve as the primary Wealth Custody and Clearing point of contact to the Fraud Program Office and as a senior fraud risk advisor to business and control partners, applying enterprise guidance while representing business-specific needs.
Establish role-based fraud awareness, procedures, and training for personnel and relevant partners, reinforcing escalation and reporting expectations.
Define the capabilities, staffing, technology, and external support required for the program; lead assigned resources and workstreams, manage dependencies, and hold stakeholders accountable for deliverables and timelines.

Benefits

Retirement savings plan (401K) with company match.
Insurance coverage including basic life, medical, dental, vision, long-term disability, and optional additional coverages.
Paid time off including vacation, sick leave, short-term disability, and leave for family-care responsibilities.
Access to the Employee Assistance Program.
Incentive compensation, including eligibility for annual performance-based awards, except certain sales roles subject to sales incentive plans.
Eligibility for certain tax-advantaged savings plans.
Inclusive development opportunities.
Flexible work-life support.
Paid volunteer days.
Employee networks.