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Valley National Bank Dir, Fraud Risk Management in Wayne, New Jersey

Dir, Fraud Risk Management


The Director of Fraud Risk Management will lead the development and execution of fraud strategies that will deliver exceptional customer experience while mitigating fraud losses. The Director of Fraud Risk Management will be responsible for mitigating internal and external fraud risk throughout the enterprise and across all products and channels.

Responsibilities include but are not limited to:

Lead the execution of the enterprise fraud program strategy, leveraging data and technology to manage fraud and improve the customer experience.

Implement organizational transition plan to establish a second line of defense fraud risk management function and help create a centralized payments fraud detection function within the first line of defense.

Create alignment on fraud strategy and ensure open communication, collaboration and partnership with key stakeholders on strategies, issues, trends, departmental fraud procedures, and new products/services.

Improve fraud identification through implementation of new cross-channel fraud technology that leverages enhanced data analytics and machine learning.

Create and enhance fraud policy and documentation requirements across all lines of defense.

Frame, monitor and report key risk indicators and key performance indicators to drive continuous improvement in fraud mitigation practices and customer experience.

Identify risks, controls, and gaps through the completion of an annual fraud risk assessment and guide first line on remedying gaps.

Manage fraud investigation function for internal and external frauds.

Maintain strong awareness of current and emerging fraud trends and schemes, and emerging payments and fraud technologies.

Ensure appropriate and timely filing of regulatory reports in response to fraud investigations.

Prepare and provide regular reports on fraud trends and emerging risks to the Board and Senior Management.

Foster a culture of fraud awareness; support and advise management and associates within Retail banking and corporate departments on fraud related issues and schemes, and work with Learning and Development in developing and delivering training, as necessary.

Required Skills:

Strong interpersonal, collaboration, and negotiation skills and ability to work with business line management and develop consensus.

Strong leadership, integrity, discretion, and mature judgment. Strong skills in managing enterprise-wide financial fraud risk management and investigation programs.

Knowledge of and ability to implement and/or manage cross-channel fraud monitoring systems that leverage enhanced data analytics and machine learning.

Strong project and personnel management skills and ability to prioritize, organize and delegate assignments.

Excellent verbal and written communication skills.

Ability to effectively present information to executive management, boards of directors and third parties.

Knowledge of banking systems, processes and regulations.

In-depth working knowledge of State and Federal Laws pertaining to financial institution fraud.

Proficient PC skills for Microsoft Office -- Word, Excel and Outlook.

Required Experience:

High school diploma/GED with a minimum of 10 years experience in a financial institution in a fraud management-related role, with a minimum of 3 years experience leading the enterprise-wide fraud risk management function.

Bachelor's Degree preferred.

Professional Certification(s) related to Fraud, or Financial Crimes preferred.

Valley National Bank is an Equal Opportunity / Affirmative Action Employer. All qualified applicants are encouraged to apply, and will be considered without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, or other legally protected characteristics, and will not be discriminated against on the basis of disability.