Fraud Manager

Madison-Davis, LLC; Silver Spring (MD); On-site; USD 120,000 - 180,000; Full time

Job summary

Madison-Davis, LLC seeks a Fraud Risk Manager to oversee the bank's fraud risk management function, including investigations, monitoring, and prevention strategy. This role provides independent second-line oversight and collaborates with fraud operations, BSA/AML, cybersecurity, legal, and technology teams.

You will lead policy development, assess emerging threats, monitor trends, and report to senior management and risk committees.

Qualifications

• Oversee fraud risk across multiple typologies including check, ACH, wire fraud and identity theft.
• Lead development and maintenance of the enterprise fraud risk policy and supporting standards.
• Monitor fraud trends and loss data to identify emerging threats and exposure.
• Support regulatory exams and audits with robust documentation.
• Collaborate with BSA/AML, cybersecurity, legal and technology teams on an integrated framework.
• Manage and develop the fraud investigations team, ensuring timely investigations and accurate reporting.

Responsibilities

• Provide independent oversight of fraud risk across channels and typologies.
• Lead investigations into suspected fraud cases and coordinate with law enforcement when needed.
• Develop and present fraud risk reporting to senior management and boards.

Skills

Fraud risk mgmt

Regulatory exams

Leadership

Vendor oversight

Education

Bachelor's degree

Tools

Verafin

Job description

The Fraud Risk Manager oversees the bank’s fraud risk management function, including fraud investigations, monitoring, and prevention strategy. This role is responsible for strengthening fraud controls, identifying emerging risks, and ensuring effective detection and response across all banking channels.

The position also serves as a second-line risk function, providing independent oversight and challenge of first-line fraud operations while ensuring alignment with regulatory expectations and internal risk frameworks.

Key Responsibilitie

• sProvide independent oversight of fraud risk across multiple typologies, including check fraud, ACH and wire fraud, identity theft, account takeover, elder financial exploitation, and new account fraud. Assess the effectiveness of fraud detection, prevention, and investigation activities across retail, commercial, digital, and card banking channels
• .Lead the development, maintenance, and enhancement of the enterprise Fraud Risk Management Policy, including supporting standards and procedures. Conduct regular fraud risk assessments to identify emerging threats, control gaps, and areas of heightened exposure
• .Monitor fraud trends, loss data, and external intelligence to identify and upscale emerging risks. Develop and present fraud risk reporting for senior management, risk committees, and board-level stakeholders
• .Serve as a subject matter expert during regulatory exams, internal audits, and third-party reviews, ensuring effective responses and documentation. Monitor regulatory guidance from agencies such as the FFIEC, CFPB, OCC, FDIC, and Federal Reserve, and assess impact on the fraud program
• .Partner with first-line fraud operations, BSA/AML, cybersecurity, legal, and technology teams to ensure an integrated financial crimes and fraud risk management framework. Support vendor oversight and management of third-party fraud tools and platforms
• .Oversee evaluation and optimization of fraud detection tools (including Verafin and similar systems), ensuring effective configuration, tuning, and performance monitoring. Maintain documentation for fraud detection logic and conduct ongoing assessments of effectiveness
• .Collaborate with external financial institutions and law enforcement agencies to support fraud investigations, asset recovery, and suspect identification. Conduct investigations including interviewing victims, analyzing evidence, and documenting findings
• .Manage and develop the fraud investigations team, including workload oversight, training, performance management, and professional development. Ensure timely and accurate execution of investigations and reporting while maintaining high operational standards