Head, Fraud Prevention and Surveillance

Royal Bank of Canada • Edina, MN

9h • $140,000 - $230,000

About The Position

This position is responsible for fraud prevention, surveillance, and cybersecurity for Wealth Management-US (WM-US), including strategy, policies, governance, tools, operations, and reporting. It will partner across the firm to ensure quality standards, consistency and timely resolution of fraud events, projects and processes are effectively implemented.
This person will be responsible for identifying trends relevant to fraud detection and prevention and implementing strategies to reduce fraud exposure and provide strategic direction and oversight in relation to WM-US Business Risk related surveillance, including governance, tools, operations, and reporting.
This individual will serve as a key representative for the Business Risk Oversight group in leading cross-functional risk related projects and initiatives, and this individual will need to work well with executives and senior leaders within WM-US and the enterprise. Additionally, this role includes leadership and management for team members who will have reporting lines into the position.

Requirements

• BA / BS in a related field.
• 10+ years securities and financial markets experience with significant fraud risk and/or surveillance experience.
• 5+ years of leadership and management experience.
• Demonstrated success in directing and leading individuals and teams across a variety of departments.
• Effective problem identification and resolution skills paired with a high attention to detail.
• Solid understanding of brokerage technologies.
• Group facilitation, mediation, and conflict resolution skills. Proven success in managing stakeholders at all levels of the organization.
• Proven strategic influencing, negotiating and persuasion skills (ability to assertively express ideas, needs and requests and build group consensus – “sells” ideas to those outside of direct reporting relationship).
• Ability to understand regulatory, business and technology aspects of an issue and recommend appropriate solutions.
• Ability to analyze complex problems, interpret operational needs, and develop integrated, creative solutions.
• Strong interest and ability to work strategically along with “hands on” follow-through leadership.
• Keep abreast of industry regulations, trends, and technologies

Nice To Haves

• Certified Fraud Examiner designation preferred.
• Hold or obtain Series 7 and 24 licenses.

Responsibilities

• Responsible for managing and improving the fraud target operating model and providing leadership and collaboration with respect to fraud detection, prevention, incident response, investigation, and reporting.
• Communicates all fraud-related activities, status updates, issue resolution, project execution and prioritization to intended audience.
• Provides leadership and management for team members and other firm resources, fostering teamwork, collaboration, and knowledge transfer.
• Prepares and delivers strategic updates and reports to senior management as needed.
• Partners across the organization to ensure appropriate anti-fraud controls are considered and implemented for existing and new processes, products, and services.
• Lead the WMUS senior/vulnerable client function, including case management, training, and advice to field partners
• Provides thoughtful strategy and leadership to build and maintain appropriate surveillance tools and processes to support firm requirements.
• Drives processes to anticipate fraud prevention and surveillance needs through reviews of industry and internal loss experiences and analyses.
• Serve as the primary WM – U.S. liaison and subject matter expert in support of Enterprise Fraud Risk requirements.
• Develops and implements project tracking and scorecard mechanisms.
• Oversees adherence to Fraud Prevention Framework requirements for Wealth Management-US, serving as an escalation point when needed.
• Provides leadership and expertise on data management, detection tools and analytical tools related to fraud and surveillance.
• Lead the WMUS cyber/IT risk function, which connects WM – US to the broader RBC cybersecurity and IT risk framework.

Benefits

• A comprehensive Total Rewards Program include competitive compensation and flexible benefits, such as 401(k) program with company-matching contributions, health, dental, vision, life, disability insurance, and paid-time off.
• Leaders who support your development through coaching and managing opportunities.
• Ability to make a difference and lasting impact.
• Work in a dynamic, collaborative, progressive, and high-performing team.
• Opportunities to do challenging work.
• Opportunities to build close relationships with clients.
• The expected salary range for this particular position is $140,000-$230,000 , depending on your experience, skills, and registration status, market conditions and business needs.
• You have the potential to earn more through RBC’s discretionary variable compensation program which gives you an opportunity to increase your total compensation, provided the business meets its performance targets and you meet your individual goals.

What This Job Offers

• Job Type: Full-time
• Career Level: Executive