Platform Solutions, Vice President, Fraud Strategy Senior Manager
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Job Location:
Wilmington, DE - USA
Monthly Salary:
Not Disclosed
Posted on:
Yesterday
Vacancies:
1 Vacancy
Job Summary
PLATFORM SOLUTIONS
In Platform Solutions (PS) we power clients with innovative and customer-centered financial products. We bring the best qualities of a technology player and combine that with the best attributes of a large bank.
Enterprise Partnerships consumer financial products that companies embed directly within their ecosystems to better serve their end customers.
JOB SUMMARY
Championing ID Theft Risk Assessment Control and Compliance in 1st Line Risk
The Fraud Strategy Lead will play a pivotal role in safeguarding against identity theft and fraud risks. This position is integral to the 1st line of defense ensuring rigorous control compliance and industry-leading fraud prevention while maintaining exceptional customer experience throughout the account lifecycle. The successful candidate will drive both pre-booking and post-booking risk strategies oversee key vendor relationships and manage the ID theft loss budget in close collaboration with business and compliance stakeholders.
RESPONSIBILITIES
- Pre-Booking ID Theft Risk Assessment: Deploy data-driven strategies and advanced analytics to identify and mitigate ID theft risks at the application stage leveraging custom industry and partner scores to enhance risk detection.
- CIP Compliance: Ensure robust Customer Identification Program (CIP) controls are implemented and maintained supporting regulatory compliance and effective customer onboarding.
- Vendor Management for Data and Scores: Oversee relationships and integrations with external data providers and scoring vendors ensuring optimal use of partner signals and industry data at application for risk assessment.
- ID Theft Loss Budget Ownership: Take responsibility for the planning monitoring and management of the ID theft loss budget balancing loss mitigation with customer experience objectives.
- Customer Experience Management at Application: Design and monitor fraud mitigation strategies that minimize friction for legitimate applicants including oversight of step-up authentication rates and manual review processes.
- Post-Booking (Early Month-on-Book) ID Theft Risk Management: Develop and execute strategies to identify and investigate accounts opened under suspected ID theft during the early tenure coordinating with Fraud Investigations to reduce severity on confirmed fraud claims.
- Oversight of Step-Up Rates and Manual Review Processes: Monitor effectiveness of step-up authentication and manual reviews analyzing defect rates and process outcomes to optimize both fraud prevention and customer experience.
- Defect Analysis: Conduct root cause analysis on fraud claim defects collaborating with operations to address and implement corrective actions.
- Control and Compliance Focus: Maintain a strong risk management posture ensuring all processes and strategies align with 1st line control compliance standards and regulatory expectations.
QUALIFICATIONS
Masters degree with a minimum of five (5) years related experience or Bachelors degree with seven (7) years experience in business analysis and project management within financial services.
Proven expertise in data analytics forecasting (Time Series) and machine learning techniques (e.g. Gradient Boost Random Forest) for fraud risk assessment.
Experience defining functional requirements service level objectives and scenario-based use cases in support of product/project lifecycles.
Partner closely with Business Product Technology Operations and Compliance teams to drive strategic initiatives and implement fraud risk solutions.
Lead cross-functional meetings present recommendations to executive leadership and organize team activities to support fraud strategy objectives.
LOCATION:
Wilmington DE; Richardson TX
ABOUT GOLDMAN SACHS
At Goldman Sachs we commit our people capital and ideas to help our clients shareholders and the communities we serve to grow. Founded in 1869 we are a leading global investment banking securities and investment management firm. Headquartered in New York we maintain offices around the world.
We believe who you are makes you better at what you do. Were committed to fostering and advancing diversity and inclusion in our own workplace and beyond by ensuring every individual within our firm has a number of opportunities to grow professionally and personally from our training and development opportunities and firmwide networks to benefits wellness and personal finance offerings and mindfulness programs. Learn more about our culture benefits and people at committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: The Goldman Sachs Group Inc. 2023. All rights reserved.
Goldman Sachs is an equal opportunity employer and does not discriminate on the basis of race color religion sex national origin age veterans status disability or any other characteristic protected by applicable law.
Required Experience:
Exec
Key Skills
- Business Development
- Risk Management
- Financial Services
- Management Experience
- Profit & Loss
- Banking
- Regulatory Reporting
- Analysis Skills
- Relationship Management
- Financial Analysis
- Leadership Experience
- negotiation
About Company
The Goldman Sachs Group, Inc. is a leading global investment banking, securities, and asset and wealth management firm that provides a wide range of financial services.
