Work Location:Toronto, Ontario, Canada
Hours:37.5
Line of Business:Financial Crimes & Fraud Mgmt
Pay Details:$96,900 - $136,800 CAD
Job Description:Department OverviewEnterprise Fraud Risk Management is an independent Second Line of Defence function within Enterprise Conduct, Insider and Fraud Risk, responsible for providing oversight, effective challenge, advisory support, and risk intelligence to help ensure external fraud risks are appropriately identified, assessed, managed, monitored, and reported across the Bank. The function operates within the Enterprise Risk Framework and Operational Risk Management Framework and supports the Bank's risk appetite, governance, and regulatory obligations.
Job DescriptionReporting to the AVP, Fraud Risk Management, the Manager provides independent Second Line oversight and subject matter expertise for external fraud risk across the Bank.
The role partners with Business Segments, Corporate Functions, Segment Operational Risk Management (ORM) teams, and other Risk Oversight Functions to assess external fraud risk exposures, challenge First Line risk management activities, and provide enterprise-wide insight on fraud threats, emerging risks, control effectiveness, governance practices, and regulatory expectations.
The incumbent operates within the Operational Risk Management Framework and leverages operational risk management programs, methodologies, and tools to assess risk exposures, identify control weaknesses, monitor trends, and support informed risk-based decision making.
Key Accountabilities- Apply deep knowledge of external fraud typologies, attack methods, customer journeys, and loss drivers to independently assess fraud risk exposure and challenge the adequacy of First Line risk decisions.
- Provide independent Second Line oversight and effective challenge of the identification, assessment, mitigation, monitoring, and reporting of external fraud risks across the Bank.
- Assess and challenge the design and effectiveness of fraud prevention, detection, authentication, interdiction, investigation, and recovery controls across products, channels, and customer lifecycle activities.
- Assess fraud strategies, thresholds, monitoring, and management information to determine whether coverage, performance, and residual risk are understood and aligned with the Bank's risk appetite.
- Analyze fraud losses, attempted fraud, alerts, cases, operational events, control performance, and root causes to identify material trends, control gaps, and areas requiring escalation or remediation.
- Apply the Operational Risk Management Framework and leverage established operational risk programs and tools, including Risk and Control Self-Assessments (RCSAs), Operational Risk Profiles, Key Risk Indicators (KRIs), Issues Management, Event Management, Scenario Analysis, and Risk Acceptance processes.
- Analyze specialty risk assessments, risk indicators, operational risk events, issues, losses, control performance, and emerging threats to support an independent view of enterprise fraud risk and identify areas requiring management attention.
- Provide fraud risk expertise and effective challenge for strategic initiatives, business changes, new products, digital capabilities, authentication approaches, payment processes, policy exceptions, and material change initiatives before implementation and through ongoing monitoring.
- Support the development, maintenance, implementation, and interpretation of the Enterprise External Fraud Risk Policy and related standards, frameworks, procedures, and guidance.
- Assess whether external fraud risks are appropriately identified, assessed, managed, monitored, and reported in accordance with enterprise requirements, risk appetite, and regulatory expectations.
- Contribute to enterprise fraud risk governance through the preparation of risk reporting, committee materials, policy reviews, risk assessments, and risk appetite monitoring.
- Partner with Business Segments, Corporate Functions, Segment ORM teams, and other Risk Oversight Functions, including Financial Crime, Cybersecurity, Compliance, Legal, and Operational Risk Management, to support a coordinated and integrated approach to risk oversight.
- Monitor industry trends, emerging fraud typologies, external threats, and regulatory developments, and recommend enhancements to fraud risk management practices.
- Lead or support initiatives to enhance fraud risk governance, oversight capabilities, monitoring practices, risk assessment methodologies, and overall fraud risk management maturity.
- Prepare clear, concise, and actionable risk insights and recommendations for senior management and governance forums.
Job Requirements, Experience, and/or Education- Undergraduate degree or equivalent professional experience.
- 7+ years of experience in fraud risk management, operational risk management, enterprise risk, audit, compliance, financial crime, or a related discipline.
- Strong knowledge of external fraud risks, fraud controls, fraud trends, and industry practices.
- Strong understanding of Second Line of Defence oversight, effective challenge, risk governance, risk appetite, and risk management frameworks.
- Demonstrated experience applying operational risk management frameworks, methodologies, and tools.
- Experience with Risk and Control Self-Assessments (RCSAs), Operational Risk Profiles, Key Risk Indicators (KRIs), Issues Management, Event Management, and related operational risk programs.
- Strong analytical, problem-solving, and critical-thinking skills.
- Strong written and verbal communication skills, with experience preparing executive- and governance-level reporting.
- Proven ability to influence stakeholders and drive outcomes across business, operational risk, and control functions without direct authority.
- Demonstrated ability to work effectively in a highly matrixed environment and manage multiple priorities.
- Experience supporting regulatory, audit, governance, or risk management activities within a large financial institution is an asset.
Breadth and Depth- Highly seasoned professional role requiring substantial knowledge and expertise in a complex field, as well as knowledge of broader related areas.
- Integrates knowledge of the enterprise sub-function's or business line's overarching strategy when developing solutions across multiple functions or operations.
- Interprets internal and external business challenges and the industry environment, and recommends courses of action and best practices to improve products, processes, or services.
- Acts as a technical expert or lead, integrating cross-functional understanding within their field of specialty.
- Leads cross-functional teams or projects with significant resource requirements, risk, and/or complexity.
- Independently manages end-to-end functional programs.
- Solves, or may lead others in solving, complex problems; leads efforts or partners with others to develop new solutions.
- Uses sophisticated analytical thinking to exercise judgment and identify solutions.
- Impacts the achievement of sub-function or business line objectives within the area.
- Work is guided by policies and industry standards and methods.
- Communicates difficult concepts; converts information into compelling business context and advice; and influences and gains alignment across increasingly senior stakeholders.
- Works autonomously as the lead and guides others within the area of expertise.
