Fraud Risk Manager

EagleBank•Silver Spring, MD

11h

About The Position

We are a values driven organization putting Relationships FIRST. EagleBank (NASDAQ – EGBN) is focused on being Flexible, Involved, Responsive, Strong, and Trusted. By prioritizing meaningful connections with our customers, employees, and shareholders, we relentlessly deliver the most compelling, valuable service to our customers. EagleBank is committed to inclusion, equity, and respect. We celebrate diversity and intentionally seek out opportunities to learn from one another’s experience. We believe employees are essential to the building of relationships and we prioritize investing in employee growth and wellbeing. Employee involvement is fostered through resource groups, mentorship programs, community service, and scholarship opportunities for continued education. The Fraud Risk Manager manages the operations of the fraud investigations department and the supervision of its staff. They develop policies and procedures to prevent fraud activities and to recover incurred losses. This position identifies weaknesses in current control processes and recommends enhancements. They collaborate investigations with appropriate business partners and local, state, and federal authorities. The Fraud Risk Manager plays a critical role in developing, implementing, and managing fraud prevention and detection strategies across the organization. Responsible for identifying, preventing, and investigating fraudulent activities to safeguard the company's assets and interests. This role works closely with cross-functional teams and collaborates with internal and external stakeholders to ensure the effectiveness of fraud management initiatives.

Requirements

Bachelor’s Degree in Arts/Sciences (BA/BS) in criminal justice, business administration, finance, or a related field
8 years experience in fraud risk management, financial crimes compliance, or a related field within a financial institution
3 years people management/supervisory experience
Experience with Verafin or other fraud tracking software
Proficient knowledge of fraud typologies across multiple banking products and channels.
Working knowledge of applicable regulatory frameworks (FFIEC, Regulation E, Regulation CC, BSA/AML).
Ability to challenge and influence first-line stakeholders constructively.
Proficient written and verbal communication skills, including experience presenting to senior leadership.
Independent judgment and intellectual curiosity
Risk-based thinking and analytical rigor
Leadership presence and confidence in challenging the status quo
Collaborative leadership and cross-functional influence

Nice To Haves

Advanced degree or certification in fraud examination or risk management
Experience at a regional bank with assets between $5B–$30B
CFE (Certified Fraud Examiner), CAMS (Certified Anti-Money Laundering Specialist), CFCS, and/or CRCM or similar certification
Attention to detail with the ability to see the big picture

Responsibilities

Manage the operations of the fraud investigations department and the supervision of its staff.
Develop policies and procedures to prevent fraud activities and to recover incurred losses.
Identify weaknesses in current control processes and recommend enhancements.
Collaborate investigations with appropriate business partners and local, state, and federal authorities.
Develop, implement, and manage fraud prevention and detection strategies across the organization.
Identify, prevent, and investigate fraudulent activities to safeguard the company's assets and interests.
Work closely with cross-functional teams and collaborate with internal and external stakeholders to ensure the effectiveness of fraud management initiatives.
Provide second-line oversight of fraud-related programs including check fraud, ACH fraud, wire fraud, identity theft, account takeover (ATO), elder financial exploitation, and new account fraud.
Independently assess and challenge the effectiveness of first-line fraud detection, prevention, and investigation activities across all banking channels (retail, commercial, digital, and card).
Maintain and continuously enhance the enterprise Fraud Risk Management Policy and supporting standards and procedures.
Conduct periodic fraud risk assessments to identify emerging threats, control gaps, and areas of heightened risk exposure.
Serve as a subject matter expert during regulatory examinations, internal audits, and third-party reviews related to fraud risk management.
Monitor evolving regulatory guidance (FFIEC, CFPB, OCC, FDIC, Federal Reserve) and assess impact on the Bank's fraud program.
Design and present fraud risk reporting to senior management, risk committees, and the Board as appropriate.
Analyze fraud trends, loss data, and industry intelligence to proactively identify and communicate emerging risks /material issues.
Partner with first-line fraud operations, BSA/AML, cybersecurity, legal, and technology teams to ensure an integrated approach to financial crimes and fraud risk management.
Evaluating existing Verafin fraud agents against existing fraud tools to determine which fraud tool is more efficient.
Create MRM documentation for all active fraud agents and conduct quarterly monitoring of the efficiency of the fraud agents.
Collaborate with the Verafin administrator to conduct annual tuning of the Verafin fraud agents.
Collaborate with other financial institutions and/or law enforcement regarding the recovery of assets and identification of suspects.
Conduct fraud investigations: Interviewing victims, documenting findings, and collaborating with various internal units to make an investigative determination.
Support the fraud vendor management process, including oversight of third-party fraud tools and platforms.
Manage Fraud Investigation staff and the daily operations of the team.
Provide training and awareness to staff on fraud risk trends, policies, and controls as well as deepening training of their roles as required.
Ensure the work production, timeliness and accuracy of the team.
Make employment and performance recommendations as well as complete performance reviews and manage staff leave.