Director of Enterprise Fraud Risk Management

4 weeks ago

Wilmington, United States WSFS Bank Full time
Job Description

At WSFS Bank, we empower our Associates to grow their careers, guide our customers to secure their financial futures, and actively support our Communities so they can fully thrive. Careers with WSFS Bank offer an inclusive and supportive culture, competitive salaries, advancement opportunities, and more. We are the region's locally headquartered bank and wealth management company. We are honored to consistently be named a Top Workplace by our Associates, who make a difference every day for the people, businesses, and Communities we serve. We Stand For Service® is more than part of our name, it's our mission and our purpose.

The Director of Enterprise Fraud Risk Management is accountable for leading managers of teams consisting of fraud analysts, fraud investigators, and fraud intake specialists whose purpose is to: engage the first line of defense to understand internal and external fraud risk appetite; devise plans and techniques to prevent, detect, mitigate and recover fraud losses in alignment with first line of defense management approved fraud risk appetite; ensure departmental adherence to regulatory requirements; educate internal and external stakeholders on fraud risk management; and, monitor and report upon Enterprise Fraud Risk Management activities to applicable management and board committees.

Job Responsibilities:
  • Lead and manage corporate Enterprise Fraud Risk Management Program (EFRMP), including the supervision of direct reports who manage Associates to prevent, detect, and mitigate financial criminal activity and potential financial losses emanating from said activity.
  • Periodically review and assess the effectiveness of the EFRMP and create action plans to develop new tactics or remediate existing control gaps in pursuit of efficient and effective detection of suspicious or fraudulent activity throughout WSFS.
  • Direct rules management program including sensitivity assessments and tuning of fraud alert system to best assure alerts are effectively designed and implemented into production to drive appropriate outcomes.
  • Lead model risk management exercises inclusive of model validation efforts over fraud models.
  • Oversee the performance of annual risk assessments/assessments for Fraud, Identity Theft, and Fraud Technology, and where required report the results of the risk assessments and any resulting matters or control gaps to senior management or the board of directors or an appointed committee thereof.
  • Develop actionable management reporting and summary presentations for lines of business, Compliance Committee, Management Risk Committee, and the Board of Directors, to include chairing the Enterprise Fraud Risk Management Committee.
  • Partner with various lines of business pertaining to matters of fraud specific to discovery, root cause analysis, and control remediation.
  • Oversee internal and external fraud investigations.
  • Ensure regulatory compliance as it pertains to fraud events, to include oversight of the preparation of Suspicious Activity Reports (SARs) in an accurate, complete, and timely manner.
  • Develop and present training program to internal Associates and/or customers as needed, to increase awareness of pertinent fraud-related issues and schemes.
  • Manage the Bank's recovery methods and/or processes to mitigate fraud loss.
Minimum Requirements:
  • Bachelor's degree in a relevant discipline such as Accounting, Finance, Business Administration, Cybersecurity preferred.
  • Master's degree preferred.
  • Professional certifications preferred to include:
    • Certified Fraud Examiner (CFE) - Association of Certified Fraud Examiners
    • Certified Financial Crimes Investigator (CFCI) - International Association of Financial Crimes Investigators
    • Certified Anti-Money Laundering Specialist (CAMS) - Association of Certified Anti-Money Laundering Specialists
    • Certified Cyber Crimes Investigator (CCCI) - International Association of Financial Crimes Investigators
  • Ten plus years of experience working at a financial institution preferred.
  • Five plus years of experience working in fraud/risk management preferred.
  • Supervisory experience preferred.
  • Must have strong verbal and written communication skills including a demonstrated ability to communicate effectively with all levels of the organization.
  • Must have strong analytical and problem-solving skills.
  • Must have the ability to multi-task, adapt to changing priorities, and thrive in a fast-paced, deadline driven environment.
  • Must have strong time management and organizational skills.
  • Must have the ability to lead and manage direct reports, including training, mentoring, and counseling .
  • Must have a strong knowledge of banking regulations, especially those pertaining to the fraud function, including the Bank Secrecy Act, Regulation CC, and the Electronic Funds Transfer Act.
  • Must have a working knowledge of bank products, services, bank systems and transaction types.
  • Must have familiarity with automated fraud transaction monitoring systems.


WSFS Bank is inclusive and supportive of individual needs. If you have a physical or other impairment that might require an accommodation, including technical assistance with the WSFS Bank Careers website or submission process, please contact us via email at careers@wsfsbank.com.

WSFS is an equal opportunity employer. We do not discriminate based upon race, religion, color, national origin, gender (including pregnancy, childbirth, or related medical conditions), sexual orientation, gender identity, gender expression, age, status as a protected veteran, status as an individual with a disability, or other applicable legally protected characteristics.

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