Fraud Risk Management Executive

Purpose of JobThe Fraud Risk Management Executive will have primary responsibility for Fraud Risk oversight for the USAA Federal Savings Bank and lead the development and implementation of a second line fraud program. This Executive leads and drives the Bank fraud and risk management governance team, structures, policies/standards, processes and tools needed to ensure the oversight, guidance, analysis and sustainment of fraud programs associated with existing and emerging operational, business or financial risks in a sophisticated and highly regulated environment. This role is accountable for the development of Bank fraud policies and contributes to the development, implementation, and execution of a multi-year strategic vision for the Bank fraud program. This leader is expected to leverage a data-driven approach in decision-making and leading fraud risk while championing a culture of process excellence, focused utilization of key performance indicators and key risk indicators for continuous improvement and effective risk management. They will interact with senior executives, business partners and regulators. Additionally, this leader is responsible for the formation of impactful teams, with the knowledge, skills, and abilities to effectively handle risk and drive agile delivery practices across the enterprise.

Job RequirementsPrimary Responsibilities:
Assess banking products for fraud prevention and detection strategies, and evaluate the associated fraud risk vectors and provide actionable recommendations
Partner closely with business product GMs, fraud strategy & servicing teams, capability and technology owners, and operational risk and AML teams
Serve as a key advisor engaging in senior leaders strategy discussions, real-time evaluations of risks, and effective challenge to ensure safety and soundness of the business and accomplishment of objectives.
Establish a best-in-class Risk Management framework to ensure comprehensive oversight and management of risks across the full risk taxonomy.
Evaluate business data (digital & traditional) capabilities and build incremental second line data capabilities and predictive models to enhance risk decision-making frameworks
Identifies risk factors and trends of potentially fraudulent activity utilizing technical data analysis and statistical interpretation
Develop and implement comprehensive fraud detection strategies and business rules that balance fraud loss, cost of execution, and customer experience
Evaluate member communication and servicing strategies in the context of Banks Fraud strategy, ensuring effective balance between reducing member friction and reducing fraud loss
Assess the strengths & limitations of existing capabilities and controls across all member experiences and respond to operational breakdowns with discipline
Conduct quantitative analysis to assess efficacy of loss forecast, establish and monitor metric thresholds and businesss ability to operate within board established risk appetite
Develop and continuously enhance fraud risk policies/standards, processes, and tools needed to ensure the effective oversight, guidance, analysis and sustainment of fraud programs
Collect & analyze information from multiple sources to gain knowledge about the competitive environment to improve organizational performance
Conduct adhoc data analysis as needed and share insights with all stakeholders
Facilitate meetings, coordinate change management activities, prepare documentation, and ensure project deliverables are met
Additionally, this leader is responsible for the formation of impactful teams, with the knowledge, skills, and abilities to effectively handle risk and drive agile delivery practices across the enterprise.
Ensures the risk aligns within appetites tolerances and strategic goals, product plans, forecasts, and adjusts to variances.
Leads root cause analysis to identify opportunities to predict, prevent and mitigate risk within processes and performance
Utilize analytics to optimize existing fraud strategies, in order to reduce false positive rates and increase fraud detection rates
Generate fraud metrics to show the performance of fraud systems for use in management reporting
Develops trending reports and key indicators to serve as early warning risk indicators for potentially fraudulent activity
Leads a team of employees dedicated to handling risk and overall strategy, in alignment with a strong effective risk governance and oversight. Sets the agenda, builds diverse hard-working teams, and sells the vision.
Ensures training and coaching of employees and provides the team with development opportunities.
Establishes a long-term view of how risk systems should be adapted and integrated to improve the ability to manage risk in an environment shaped by regulatory change and exciting, emerging technologies.
Ensures effective and appropriate policies, procedures, and controls are in place supporting all risk processes, systems, strategies, and implementations.
Establishes trust and rapport with senior business leaders to sustain oversight of the second line risk role.
Partners with the senior risk executives in handling overall risk appetite to include the identification and definition of key methods, metrics, and limits.
Partners across Risk Management, Finance, and the business while effectively challenging variances to plan and strategies to mitigate.
Provides advice to other key business partners and drive key decisions assessing risk and reward through effective challenge.
Actively engages line of business leaders to ensure all risks are appropriately addressed consistent with policy and the Risk Appetite.
Interacts & engages with all product & channel leaders on complex, multi-product processes and procedures while factoring in all legal & regulatory requirements.
Liaises with Compliance and CLO on legal & regulatory considerations that impact business operations and product offerings in accordance with federal and state regulations as well as to influence sound governance structure for oversight of risks and business operations.
Minimum Requirements:
Bachelor's Degree in relevant field or 4 additional years of related experience beyond the minimum required may be substituted in lieu of a degree.
10+ years of experience at a large financial institution developing and implementing an enterprise-wide risk management program that adheres to regulatory requirements and expectations
6+ years of people leadership experience in building, leading and/or developing successful teams.
In-depth knowledge of risk frameworks including risk governance; risk appetite; process, risk and control analysis; control effectiveness measurement; risk management coverage plan (monitoring, assessment and testing)
Demonstrated ability to influence at senior levels within an organization.
Confirmed capability to communicate effectively across the 1st and 2nd Lines of Defense and build collaborative relationships.
Strong written and oral communication skills, including the ability to communicate complex analyses to a non-technical audience
Strong problem-solving, critical thinking and analytical skills.
Knowledge of federal regulation 12 CFR Part 30, including Appendices A and D and with federal supervisory guidance, to include: OCC Documents: Large Bank Supervision Handbook; OCC Safety and Soundness Handbooks - Internal Controls, Corporate & Risk Governance, Retail Lending; and key OCC bulletins - Model Risk Governance, Model Risk Management, New Products and Services Risk Management, Third Party Risk Management, Technology Risk Management, Stress Testing, and Operational Risk;
Knowledge of Federal Reserve Documents: Consolidated Supervision Framework for Large Financial Institutions; Federal Reserve Board Bank Holding Company Supervision Manual
Knowledge of FFIEC Manuals and Handbooks to include: Banking, General understanding of federal laws, rules, and regulations, to include: CRA; ECOA; FCRA; MLA; SCRA; Regulation DD; Regulation E; Regulation Z; BSA/AML; and UDAP/UDAAP

*Laws and Regulations for illustrative purposes. Roles would need an understanding of all federal and state laws and regulatory guidance applicable to the organization and responsibilities of the role.

Preferred Experience:
8+ years of experience developing and driving Fraud program for large financial institution
Deep subject matter expertise in consumer banking laws, rules, and regulations
Demonstrated accomplishments enhancing automation in fraud rules and fraud modeling
Experience identifying and leading fraud strategy, including resource allotment and driving clarity in 1st/2nd roles and responsibilities
Experience presenting to the Risk Committee and/or Board of Directors
Compensation:
USAA has an effective process for assessing market data and establishing ranges to ensure we remain competitive. You are paid within the salary range based on your experience and market position. The salary range for this position is: $
205,500 370,100.


Employees may be eligible for pay incentives based on overall corporate and individual performance or at the discretion of the USAA Board of Directors.
Long Term Incentive Plan: Cash payment for Executive level roles only, representing a cash payment which is both time and performance based.
Benefits:
At USAA our employees enjoy best-in-class benefits to support their physical, financial, and emotional wellness. These benefits include comprehensive medical, dental and vision plans, 401(k), pension, life insurance, parental benefits, adoption assistance, paid time off program with paid holidays plus 16 paid volunteer hours, and various wellness programs. Additionally, our career path planning and continuing education assists employees with their professional goals.
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