Fraud Strategy Director

Old National Bank•Chicago, IL

About The Position

The Fraud Strategy role is responsible for developing, executing, and continuously enhancing Old National Bank’s (ONB) fraud strategy to mitigate fraud risk, reduce financial losses, protect clients, and support a positive customer experience. This role provides strategic leadership across fraud prevention, detection, and mitigation initiatives, translating fraud risk insights into actionable strategies across products, channels, and lines of business. This role partners closely with Risk Management, Technology, Compliance, and product teams to quantify fraud risk exposure, evaluate mitigation strategies, and ensure fraud controls are aligned with organizational risk appetite and business objectives.

Requirements

Bachelor’s degree.
10+ years of experience in fraud management, fraud strategy, financial crimes, or risk analysis.
Demonstrated experience developing fraud risk strategies, policy, and/or initiatives.
Has a background in fraud analytics, technology enablement, and large-scale transformation initiatives.
Strong understanding of fraud typologies across payments, deposits, cards, and digital banking channels.
Strong communication and stakeholder engagement skills.

Nice To Haves

Certified Fraud Examiner (CFE) and/or Project Management Professional (PMP) certifications preferred but not .

Responsibilities

Develop and maintain fraud strategies across multiple channels and product groups, including deposits, debit cards, credit cards, and digital channels.
Define tactical and strategic vision for fraud loss mitigation and scam prevention, aligned with fraud loss targets and risk appetite.
Support governance, executive reporting, and committee materials related to fraud risk exposure and mitigation performance.
Identify and quantify fraud risk exposures and fraud-related client impacts through data analysis, operational insights, and emerging threat intelligence.
Track and evaluate new fraud scam and mitigation initiatives, assessing effectiveness, prevention potential, and client experience impacts.
Monitor fraud trends, typologies, and external intelligence to inform proactive strategy adjustments.
Champion required changes to strengthen Fraud Management’s risk intelligence capabilities.
Recommend and manage the development of new or enhanced reporting systems, policies, procedures, and controls to address known deficiencies.
Develops, implements, and improves comprehensive fraud detection strategies and authorization decision rules that balance fraud loss with client experience.
Lead fraud strategy initiatives from ideation through execution including: Risk identification and assessment Proposal evaluation Initiative funding requests Seed funding and full business case development
Develop business cases that include investment costs, operating impacts, expected benefits, and fraud loss reduction outcomes.
Partner with Technology, Data, and Analytics teams to evaluate new tools, models, and process changes for fraud prevention and detection effectiveness.
Collaborate with product and lines of business leaders to assess fraud risk implications of new products, services, and channel changes.
Work closely within others within the Fraud function to optimize rules, policy, and procedures to balance fraud risk mitigation and client experience.
Responsible for staying abreast of current and emerging fraud trends within the industry and consulting with the Fraud Management Director on impacts to the bank or enhancement needs to the Fraud program.
Act as a trusted advisor and subject matter expert on fraud strategy and mitigation.