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2 months ago
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About the roleBest Egg is a market-leading, tech-enabled financial platform helping people build financial confidence through installment lending solutions and financial health tools. We are seeking an experienced Director of Fraud Risk Oversight to join our Second Line of Defense (2LOD), supporting consumer lending unsecured and secured personal loan businesses. This role will help develop and manage independent oversight, governance, and credible challenges to protect the organization from emerging and evolving fraud threats. You will ensure fraud strategies, detection models, and operational processes are aligned with the company’s risk appetite, regulatory expectations, and customer experience objectives within a fast-growing FinTech environment.Key ResponsibilitiesFraud Risk Oversight & GovernanceProvide independent 2LOD oversight of fraud risk management frameworks, including policies, standards, and controlsReview and challenge 1LOD fraud strategies across originations, account management, and servicingEnsure alignment of fraud practices with enterprise risk appetite and governance standardsPartner with credit risk on first payment default trends and data linking analysisFraud Strategy & Model OversightOversee and challenge fraud detection and prevention strategies, including: Application and identity fraud controlssynthetic / stolen identity detectiondevice, IP, and behavioral analyticspayment fraud / ACH return monitoringloan servicing activity monitoringAssess effectiveness and usage of fraud models, rules engines, and decisioning toolsFraud Operations & ControlsEvaluate fraud operations, including case management, investigations, and recovery processesReview controls related to customer authentication, identity verification, and digital channelsAssess vendor and third-party risk related to fraud tools, data providers, and service partnersFraud Loss & Performance MonitoringMonitor fraud trends, loss rates, and emerging threats across the portfolioEvaluate fraud loss forecasting and alignment with business and risk expectationsIdentify and escalate emerging fraud risks, vulnerabilities, and control gapsRegulatory & Compliance OversightEnsure adherence to applicable fraud, consumer protection, and data security regulationsProvide oversight of compliance with expectations related to UDAAP, FCRA (as applicable), and identity verification standardsSupport regulatory exams, internal audits, and issue remediation related to fraud riskRisk Reporting & EscalationDevelop and deliver fraud risk reporting, dashboards, and insights to various key stakeholders across the companyEscalate material fraud risks, control weaknesses, and emerging threats in a timely mannerContribute to enterprise risk assessments and cross-risk coordinationCross-Functional Collaboration & InnovationPartner with Product, Engineering, Risk, and Operations teams to ensure fraud controls are embedded in product design and customer journeysProvide oversight of new technologies, including AI/ML-based fraud detection and digital identity solutionsEnsure appropriate governance over FinTech innovations and third-party integrationsQualificationsRequired Experience10+ years of experience in fraud risk management, fraud strategy, or fraud operations within financial services or FinTechExperience in 2LOD, risk oversight, audit, or control functions, or strong exposure to independent challenge frameworksDeep understanding of fraud typologies, detection strategies, and fraud lifecycle managementExperience working with fraud models, rules engines, and analyticsPreferred ExperienceExperience in a consumer lending and/or digital banking environmentFamiliarity with identity verification, authentication technologies, and digital fraud prevention toolsExposure to vendor risk management and third-party fraud solutionsRegulatory KnowledgeWorking knowledge of relevant regulations and guidance, including: UDAAPFCRA (as applicable to fraud processes)Identity verification / KYC-related expectationsExperience interacting with regulators, internal audit, or compliance teams preferredSkills & CompetenciesStrong risk and control mindset with ability to provide independent, credible challengeAnalytical thinker with ability to interpret fraud trends and emerging threatsStrong cross-functional collaboration skillsExcellent communication and stakeholder management skillsAbility to operate in a fast-paced, technology-driven environmentWillingness to adapt to a fast-paced environment and adjust priorities accordinglyEmployee BenefitsPre-tax and post-tax retirement savings plans with a competitive company matching programGenerous paid time-off plans including vacation, personal/sick time, paid short-term and long-term disability leaves, paid parental leave, and paid company holidaysMultiple health care plans to choose from, including dental and vision optionsFlexible Spending Plans for Health Care, Dependent Care, and Health Reimbursement AccountsCompany-paid benefits such as life insurance, wellness platforms, employee assistance programs, and Health Advocate programsAdditional discounted benefits including identity theft protection, pet insurance, fitness center reimbursements, and moreCompensation$110,000 - $130,000 a yearEligible for an annual incentive bonus based on individual and company performance; yearly incentive bonus target is 35% of base salary
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