Operational Risk Management Jobs in Massachusetts

Description

The Vice President, Fraud Risk Management is responsible for establishing and leading the enterprise fraud risk management strategy and serving as the organization's senior second line of defense (2LOD) leader for fraud risk governance. This role provides executive oversight of fraud risk across products, channels, member interactions, digital banking platforms, payment systems, and third-party relationships, ensuring risks are effectively identified, assessed, monitored, mitigated, and reported.

The Vice President establishes enterprise fraud risk frameworks, risk appetite, governance standards, and oversight programs while providing effective challenge to first-line fraud prevention, detection, and operational practices. This role serves as a trusted advisor to executive leadership, risk committees, and the Board, helping ensure fraud risks remain within approved risk tolerances while supporting organizational growth, innovation, and member experience.

Here’s what you can expect from the job and what you need to be successful: 

What You’ll Do:

• Fraud Risk Strategy & Governance
• Establish and execute the enterprise fraud risk management strategy, ensuring alignment with organizational objectives, risk appetite, and regulatory expectations.
• Own the enterprise fraud risk governance framework, including policies, standards, procedures, and oversight activities.
• Establish fraud risk appetite metrics, limits, thresholds, and escalation protocols and monitor adherence across the organization.
• Lead enterprise fraud governance forums and serve as the executive sponsor for fraud risk management initiatives.
• Provide independent challenge and oversight of fraud risk management activities conducted within the first line of defense.
• Policy, Standards & Regulatory Oversight
• Establish fraud-related policies, standards, and enterprise control requirements designed to manage fraud exposure within approved risk tolerances.
• Oversee fraud-related compliance monitoring and governance activities to ensure alignment with applicable laws, regulations, and regulatory expectations.
• Monitor evolving fraud-related regulatory requirements and industry developments and ensure appropriate governance responses are implemented.
• Serve as the primary fraud risk liaison with regulators, auditors, and external stakeholders. Fraud Risk Assessment, Testing & Quality Assurance
• Oversee enterprise fraud risk assessments, control evaluations, and independent reviews across products, services, channels, and business processes.
• Ensure effective fraud control testing, quality assurance, quality control, and monitoring programs are maintained.
• Evaluate the effectiveness of fraud prevention, detection, response, and recovery controls and provide independent challenge of control design and operating effectiveness.
• Ensure identified fraud risks, control weaknesses, and program deficiencies are appropriately escalated, tracked, and remediated.
• Fraud Analytics, Rules Governance & Emerging Risk
• Provide executive oversight of fraud analytics, monitoring strategies, and fraud rules governance programs.
• Oversee governance of fraud detection methodologies, rule changes, decisioning frameworks, and performance metrics.
• Monitor fraud loss trends, emerging fraud schemes, identity theft risks, synthetic identity threats, account takeover risks, and fraud typologies.
• Sponsor innovation and adoption of advanced analytics, automation, artificial intelligence, and fraud intelligence capabilities.
• Identity Theft & Financial Crimes Risk
• Oversee enterprise identity theft risk management and governance programs.
• Ensure the organization maintains robust controls designed to prevent, detect, and respond to identity theft, account misuse, and related fraud events.
• Partner with Financial Crimes, Compliance, Information Security, and Enterprise Risk leaders to address interconnected fraud and financial crime risks.
• Fraud Events, Issue Management & Reporting
• Oversee fraud event reporting, root cause analysis, issue management, and remediation governance activities.
• Ensure material fraud losses, trends, control failures, and emerging risks are escalated appropriately and reported through governance channels.
• Develop and deliver executive and Board-level reporting on fraud risk exposure, key risk indicators, fraud losses, control effectiveness, and emerging threats.
• Present fraud risk insights and strategic recommendations to executive leadership, Board committees, and risk governance forums.
• Leadership Responsibilities
• Lead a multi-layered fraud risk management organization consisting of directors, senior managers, managers, and specialized fraud risk professionals.
• Establish strategic priorities, performance expectations, organizational structure, and succession plans for the fraud risk function.
• Build strong risk management, analytical, and leadership capabilities across the organization.
• Foster a culture of accountability, collaboration, continuous improvement, and strong risk discipline.
  • Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

Essential Skills: 

• 10+ years’ experience with deep expertise in fraud risk management, fraud governance, fraud prevention, fraud detection, and fraud risk oversight.
• Minimum eight (8) years’ experience as a people leader, leading a diverse team including hiring, coaching and performance management Strong knowledge of risk appetite frameworks, fraud risk assessments, issue management, compliance monitoring, and governance practices.
• Experience establishing fraud policies, standards, limits, and enterprise control frameworks.
• Expertise in fraud analytics, fraud monitoring strategies, rules governance, and identity theft risk management.
• Strong understanding of regulatory expectations and fraud-related legal and compliance requirements.
• Ability to provide effective challenge and influence executive-level decision making.
• Exceptional executive communication, Board presentation, and stakeholder management skills.
• Proven experience building and leading high-performing teams and enterprise programs.
• Required Education: Bachelor's degree in field relevant to role (or 4 additional years of relevant experience in lieu of a degree), advanced degree preferred.
• Preferred Certifications: CFE, CAMS, CFCS, CRCM, CAFP, and/or FRM

Location: Hillsboro, OR | Marlborough, MA |  (Hybrid)                                                                                                                                       

Target Compensation: $220k - $260k annually + annual bonus

Who We Are:
What makes First Tech different? Click here to learn more!
Every great journey begins with a bold idea—and ours is no different. First Tech and DCU were founded on the belief that financial solutions should put people first. That belief has fueled decades of innovation and service, rooted in the tech sector and expanding to support members from all walks of life.
Employees are eligible for:
• Traditional medical, dental, and vision coverage
• Generous 401(k) match
• Paid Time Off: You'll accrue up to 15 days in your first year. In addition, you'll receive 40 hours of sick time and 3 personal days, which refresh annually
• Paid federal holidays
• Special employee pricing on lending products such as mortgage, auto, and personal loans (eligibility subject to standard account requirements and underwriting criteria)
Employment Statements:
First Tech is an equal opportunity employer, and we value diversity, inclusion, and equity at our company. We evaluate qualified applicants without regard to race, color, religion, age, sex, sexual orientation, gender identity, national origin, disability, veteran status, and other legally protected characteristics.
If you're applying for a job and need a reasonable accommodation for any part of the employment process, please send an email to recruiters@firsttechfed.com and let us know the nature of your request and contact information. Please note that only those inquiries concerning a request for reasonable accommodation will be responded to from this email address.
First Tech is not currently offering Visa transfer/sponsorship for this position.