VP, Deposit & Payment Risk Manager
About The Position
The VP, Deposit & Payment Risk Manager role oversees the Bank’s Deposit & Payment Risk Team including, the prevention, detection, investigation, recovery, and remediation of high-risk account activity, specifically leading efforts to protect clients’ deposit balances and the organization from fraudulent attempts to misappropriate funds in a rapidly changing environment while enhancing client experiences when encountering fraud. This role also oversees the management and oversight of relevant software and other tools to facilitate a reduction of the Bank’s overall loss risk exposure. This position requires that the individual work in office, independently, and with minimal supervision. Ensures compliance within all Bank policies and procedures, as well as all applicable state and federal banking regulations.
Requirements
- 7+ years of experience in banking
- 5+ years of commensurate fraud, risk management, or loss mitigation responsibilities in either an operational or oversight function
- Experienced in a fast-paced, high-volume financial services environment
- Self-starter with strong attention to detail and problem-solving skills
- Ability to multi-task in a fast-paced environment
Responsibilities
- Manages and directs the day-to-day activities of the deposit and payment risk department ensuring alerts are reviewed in a timely manner
- Reviews escalated account alerts from staff and determine additional actions or next steps
- Performs transaction activity reviews derived from system alerts and non-alert, based sources, such as incidents reported by Bank employees
- Identifies and implements appropriate loss detection, loss mitigation tools, and related procedures, addressing aspects of both effective loss risk management and operational efficiency
- Works with internal partners and external vendors to validate, tune, and improve loss monitoring technologies
- Coordinates with appropriate business units, compliance, fraud, and BSA/AML departments to ensure timely and appropriate responses to suspected high risk transactions and remediation
- Leads investigations of questionable account activity and collaborates with appropriate business stakeholders to identify and address root causes
- Oversee the monitoring of deposit and payment risk warning reports and supporting risk management applications
- Conduct investigations of digital banking transactions, account takeover, customer scams, and money mule activity
- Ensures a culture of exceptional service and support for clients and team members by monitoring, understanding, and delivering on support related SLA standards
- Acts as a deposit and payment risk subject matter expert on relevant regulations and policies, networking with industry contacts to gain competitive insights and best practices
- Utilizes strong communication skills to effectively communicate with stakeholders, present findings, and raise awareness about risks within the organization
- Demonstrates independent judgment with a minimal amount of supervision and direction
- Demonstrates ability to motivate and develop employees with a positive approach to challenges while building a high-performance culture
- Identifies areas for process improvement
- Demonstrates knowledge of state and federal regulations as they pertain to deposit and payment loss
- Remains current with emerging technologies
- Minimum of 10 hours CRA volunteer hours per year. Volunteer hours are typically scheduled within business hours. This is compensable time and mileage is reimbursed
- Other duties as assigned
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What This Job Offers
Job Type
Full-time
Career Level
Manager
Education Level
No Education Listed
