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

Master’s degree with a minimum of five (5) years’ related experience, or Bachelor’s 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. We're 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 GS.com/careers.

We’re committed to finding reasonable accommodations for candidates with special needs or disabilities during our recruiting process. Learn more: https://www.goldmansachs.com/careers/footer/disability-statement.html

© 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.