Fraud Risk Manager

M&T Bank; Buffalo (NY); On-site; USD 108,000 - 179,000; Full time

Benefits offered by this job

Health insurance

Job summary

M&T Bank is seeking a Senior Risk Manager to lead the first line of defense risk management within the Buffalo-based business unit. The role emphasizes proactive risk identification, accurate assessment, and reporting of risks affecting operations, including loss events and KRIs, with escalation and remediation responsibilities.

You will oversee a team handling risk and control functions, develop risk-based testing programs, and ensure compliance with the Enterprise Risk Framework.

Qualifications

• Bachelor’s degree and a minimum of 7 years' relevant work experience, or a combined minimum of 11 years' higher education and/or work experience including 7 years in risk.

Responsibilities

• Lead the planning, execution, and reporting of the business unit's first line of defense risk management function with proper documentation.
• Drive development, execution and reporting of risk-based testing and internal control programs.
• Oversee reporting to management and risk committees and support the First Line Risk Officer.
• Monitor KRIs and ensure timely Risk Control Self Assessments (RCSAs) and related reporting.
• Identify emerging risks and ensure they are incorporated into RCSAs and KRIs.
• Develop and maintain risk policies, ensuring updates align with regulations and internal guidance.
• Provide coaching to staff and manage staffing, performance, and promotions as a manager.

Skills

Risk management

Leadership

Regulatory awareness

Education

Bachelor’s degree

Job description

Overview

Manage the first line of defense risk management responsibilities of the business unit in accordance with the Enterprise Risk Framework. Oversee the proactive identification, accurate assessment and reporting of risks impacting the business unit, including loss events and Key Risk Indicators (KRI's). Ensure the appropriate escalation of identified issues and the timely completion of remediation plans. Manage the team responsible for risk and control functions in the business unit. Assist the Business Risk Officer in setting direction for the department and risk policy of the organization.

Manage the first line of defense risk management responsibilities of the business unit in accordance with the Enterprise Risk Framework. Oversee the proactive identification, accurate assessment and reporting of risks impacting the business unit, including loss events and Key Risk Indicators (KRI's). Ensure the appropriate escalation of identified issues and the timely completion of remediation plans. Manage the team responsible for risk and control functions in the business unit. Assist the Business Risk Officer in setting direction for the department and risk policy of the organization.

Primary Responsibilities

• Lead the planning, execution, and reporting of the business unit's first line of defense risk management function including ensuring the documentation of key processes and internal controls. Ensure the complete and proper identification and assessment of risks in the business unit's key processes in accordance with the Enterprise Risk Framework, internal guidance, and risk management professional standards.
• Drive the development, execution and reporting of the business unit's risk-based testing program. Ensure control testing is performed in accordance with M&T's First Line of Defense Guidance on Management of Risks & Internal Controls and professional standards.
• Oversee reporting to Business Unit Management, Scenario Management and internal risk committees. Provide direct assistance/support to the First Line Risk Officer
• Monitor business unit performance with respect to established key risk indicators (KRIs) and prepare comprehensive KRI reporting.
• Ensure the accurate and timely completion of Risk Control Self Assessments (RCSAs) and other risk management reporting. Develop a process by which emerging risks and losses are reviewed and incorporated into the RCSAs and KRIs.
• Identify emerging risks and risks associated with new products/ services/ markets/ channels or changes to existing products/ services/ markets/ channels and oversee the reporting of these risks to management and the Markets, Products and Services Risk Committee.
• Ensure the effective and efficient management and reporting of issues, including remediation plans. Develop and oversee the process for identifying and reporting risk events and losses in a timely manner. Appropriately elevate identified issues to the First Line Risk Officer and business unit management.
• Develop, implement and oversee the maintenance of policies for the business unit. This includes the updating of policies in response to federal, state or business unit process changes. Respond to both internal and external requests in relation to departmental policies and procedures.
• Provide coaching and mentoring to the staff. Review and approve test results. Build a working relationship with business unit management, Internal Audit, Corporate Operational Risk and Corporate Compliance Portfolio Managers.
• Exercise usual authority of a manager concerning staffing, performance appraisals, promotions, salary recommendations, performance management and terminations.
• Adhere to applicable compliance/operational risk controls in accordance with Company or regulatory standards and policies.
• Promote an environment that supports belonging and reflects the M&T Bank brand.
• Maintain M&T internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators as applicable.
• Complete other related duties as assigned.

Education and Experience Required

Bachelor’s degree and a minimum of 7 years' relevant work experience, or in lieu of a degree, a combined minimum of 11 years' higher education and/or work experience, including a minimum of 7 years' relevant work experience

M&T Bank is committed to fair, competitive, and market-informed pay for our employees. The pay range for this position is $107,500.00 - $179,100.00 Annual (USD). The successful candidate’s particular combination of knowledge, skills, and experience will inform their specific compensation.

Location

Buffalo, New York, United States of America