Security and Fraud Risk Manager

Hiring Range: $85,665 - $140,736

The posted salary range reflects Eastern’s expected hiring range. Actual pay may vary based on experience, skills, and market factors; additional compensation may apply. Eastern offers a robust benefits and retirement package. Please see the description of benefits included with this job posting for additional information.

This position is responsible for leading the Security and Fraud Risk Management second line of defense function at Eastern Bank. The incumbent will report directly to the VP, Security Manager and will partner closely with General Services (Physical Security and Facilities), Fraud Operations, and other business units. The position works directly with senior leadership, department management, and internal and external stakeholders to protect Eastern, its colleagues, customers, and assets.

As the owner of the Security and Fraud Risk Management second line oversight programs, the incumbent is responsible for ensuring compliance with applicable regulatory requirements, including the Bank Protection Act and the Red Flags Program. The role provides independent oversight of physical security, safety, and fraud risk management activities, ensuring that security and fraud risks are appropriately identified, assessed, monitored, and mitigated through effective controls, governance, and risk management practices. The position is responsible for evaluating the effectiveness of first line security, safety, and fraud controls, conducting risk assessments, identifying emerging risks and trends, and providing effective challenge to business line activities and risk decisions. The incumbent will monitor evolving fraud schemes and safety/security threats, recommend enhancements to controls, processes, and technologies, and ensure that risk management practices continue to adapt to the changing threat landscape.

The Corporate Security and Fraud Risk Management Manager drives strategy across both disciplines, takes a forward-looking risk approach, proactively communicates and escalates material risks through management and committee reporting processes, and ensures continuous enhancement of second line programs. The position provides meaningful risk reporting and insights to senior management and risk committees, supports regulatory examinations and audit activities, promotes ongoing program improvement, and leverages Archer and other governance tools to support effective risk management and oversight across the enterprise. The incumbent should be able to operate independently, clearly communicate program objectives, risks, and progress, and ensure the timely and effective execution of second line responsibilities.

Major Responsibilities

• Lead the Security and Fraud Risk Management second line of defense function and ensure compliance with applicable regulatory requirements, including the Bank Protection Act and Red Flags Program requirements.
• Conduct and oversee fraud and security risk assessments, control effectiveness reviews, thematic reviews, and monitoring activities to identify, assess, and mitigate risks across the organization.
• Provide independent oversight, review, and effective challenge of first line Physical Security, General Services/Facilities, Fraud Operations, and related business unit programs to assess the effectiveness of risk management processes and controls.
• Monitor emerging fraud schemes, criminal activity, physical security threats, and industry trends; recommend enhancements to controls, processes, technologies, and governance frameworks to strengthen risk management capabilities.
• Develop and deliver meaningful risk reporting, key risk indicators, and executive-level insights to senior management, risk committees, and other stakeholders.
• Ensure physical security standards and related safety and security programs are operating effectively and aligned with regulatory requirements, corporate policies, and industry best practices.
• Support internal audits, regulatory examinations, issue management activities, and remediation efforts; ensure findings are appropriately tracked, escalated, and resolved.
• Leverage Archer and other governance, risk, and compliance tools to facilitate risk assessments, issue management, reporting, and second line oversight activities while promoting continuous improvement of security and fraud programs.

PROBLEM SOLVING & DECISION MAKING:

Performance at this level requires a significant degree of independence, sound judgment, and strategic decision-making. The incumbent is expected to independently assess security and fraud risks, identify emerging threats, challenge risk management practices when appropriate, and escalate significant risks to senior management and governance committees. The role influences decisions impacting the safety and security of employees, customers, facilities, information, financial assets, and the organization's reputation.

The incumbent demonstrates strong analytical, investigative, and critical thinking skills and applies enterprise risk management principles to evaluate control effectiveness and recommend risk mitigation strategies. The position must effectively balance regulatory expectations, business objectives, and risk appetite while providing credible oversight and challenge across the organization. The role is responsible for communicating complex risk matters through risk assessments, governance reporting, examinations, audits, and executive presentations.

Education

• Bachelor's degree in Finance, Business Administration, Criminal Justice, Risk Management, Security Management, Cybersecurity, or a related field required.
• Master’s degree preferred.
• Professional certifications such as Certified Protection Professional (CPP), Physical Security Professional (PSP), Certified Fraud Examiner (CFE), Certified Regulatory Compliance Manager (CRCM), Certified Anti-Money Laundering Specialist (CAMS), Certified Information Systems Security Professional (CISSP), or equivalent preferred.

Experience

• 7-10 years of progressive experience in corporate security, fraud risk management, operational risk management, enterprise risk management, financial crimes, compliance, or related disciplines.
• Experience leading teams and managing enterprise-wide risk, security, fraud, or control programs.
• Financial services industry experience preferred, including interaction with regulators, auditors, senior leadership, and governance committees.
• Experience with second line of defense oversight, risk assessments, issue management, and governance activities.

Skills/Knowledge

• Strong knowledge of fraud risk management, physical security, operational risk management, enterprise risk management, and governance frameworks.
• Knowledge of applicable regulatory requirements, including the Bank Protection Act, Red Flags Rule, and financial crimes risk management practices.
• Experience conducting risk assessments, control evaluations, monitoring, testing, and independent reviews.
• Strong analytical, investigative, problem-solving, communication, and presentation skills.
• Ability to influence stakeholders, provide effective challenge, and communicate complex risk issues to executive leadership and governance committees.
• Experience identifying emerging risks and developing actionable risk mitigation strategies.
• Proficiency with Verafin, Archer, or other Governance, Risk, and Compliance (GRC) and financial crime management platforms.
• Proficiency with Microsoft Office applications.