Job Details
Corporate Headquarters - Washington, DC
Description
Position Title: Vice President, Fraud Reduction
Department: BITS – Technology
Job Type: Full Time, Exempt
Job Location: Washington, DC
Salary Range: $150,000 - $220,000 annually
Reports to: SVP, Fraud Reduction
Position Summary:
The Vice President, Fraud Reduction, will be positioned to help drive critical industry efforts that will shape the future of fraud mitigation in the banking sector, as well as help financial firms drive stronger consumer experiences, and ultimately impact how firms protect the US economy.
The role will report to the SVP, Fraud Reduction, in BPI’s technology policy division, BITS. The candidate will play a critical role working with members to develop fraud reduction strategies and improve operating practices. This role will also support and drive development of advocacy positions and communicate BPI/BITS positions to audiences that include members, regulators, members of Congress, and the public.
This role will be responsible for supporting and managing multiple initiatives within the overall fraud reduction program as well as support and collaborate with the cybersecurity program, regulatory technology program and critical infrastructure teams. This will include documenting practices to improve operational capabilities, managing industry wide projects, supporting creation of blogs, white papers, and comment letters by providing key analysis and research. This individual will actively participate in public-private dialogues taking an active role in developing content, sourcing expertise, and facilitating and leading these discussions. A background in fraud strategy, fraud policy, fraud operations, fraud analysis, regulatory/government affairs, technology implementation and operations or risk management is important.
Who Are We, Mission of Organization:
The Bank Policy Institute (BPI) is a nonpartisan public policy, research, and advocacy group, representing the nation’s leading banks. Our members include universal banks, regional banks, and the major foreign banks doing business in the United States plus investment management firms, insurance companies, financial market utilities, processors, and card companies via our BITS Affiliate program. BITS is the technology policy division of the Bank Policy Institute. BITS provides an executive-level forum to discuss and promote current and emerging technology, foster innovation, reduce fraud and improve cybersecurity and risk management practices for the nation’s financial sector. Our staff includes information technologists, economists, researchers, financial and policy analysts, government relations professionals, and attorneys, all focused on using data and analysis to shape sound practices and policy.
Position Overview:
The fraud risk management professional will support critical industry initiatives that are part of the BITS Fraud Reduction Program and support the work of the BITS team and BPI overall. With the input and direction of members, this position will be responsible for executing upon key priorities for reducing fraud or improving operational efficiency by defining, managing, and implementing self-identified and member-identified projects. This candidate will:
- Forecast and identify trends, examine fraud risks, and support the creation of solutions to mitigate current and evolving frauds in areas such as scams, push payment fraud, ID and authentication fraud, check fraud, etc.
- Develop best practices and successful strategies, write guidelines, and develop white papers and advisories to mitigate fraud.
- Manage industry wide initiatives focused on intelligence sharing, cross sector collaboration, and evolving fraud threats.
- Support initiatives by deploying project management tools, data analysis, and industry research to ensure successful and timely delivery of projects.
- Support the creation of fraud, Identity and security related member symposiums and roundtables to discuss and address industry wide fraud mitigation challenges.
- Convene a regular series of information sharing forums including regular meetings of committees and working groups, including in-person sessions.
- Support creation of reports, internal program updates, and other documentation.
- Foster collaboration with key external stakeholders, including technology service providers and market participants, law enforcement agencies and federal regulators.
Essential Competencies:
- Strong understanding of trends and tactics used to perpetrate fraud through multiple channels with an ability to identify or develop successful fraud mitigation strategies.
- Strong project and program management skills to support management of multiple initiatives.
- Ability to work in a fast-paced environment and execute concurrent projects or initiatives.
- Inquisitive and proactive with strong analytic, decision-making, and problem-solving skills, helping members coalesce around approaches to mitigate fraud.
- Possess the ability to develop agendas, identify and arrange topical experts and relevant speakers, and facilitate committee meetings, working groups and public symposiums.
- Self-starter with strong initiative to influence and drive projects and efforts forward.
- Manage the Fraud Reduction Program supporting the execution of critical priorities, project plans and timelines and convening members to conduct (gap) analysis, document process flows and write business requirements.
Requirements:
- Knowledge of the financial services industry, effective risk management practices and applicable regulatory/supervisory requirements.
- Strong skills in program management, including effective planning, tracking, and reporting on projects involving multiple constituents.
- Concise, accurate, and effective written and oral communications, including with senior executives at member firms, agencies and regulators.
- An effective and proven leader who possesses a strong work ethic with the ability to work independently and collaborate with colleagues, to complete projects.
- An understanding of regulatory and government affairs programs.
- Advanced client management, diplomacy, and people skills.
Education:
- Minimum of a B.S./B.A. in related risk management, technology or business field required. Advanced degree preferred but not required.
- Experience in fraud strategy, fraud operations, fraud analytics, technology, security, or AML/Sanctions with demonstrable leadership capabilities.
BPI seeks to attract and retain top talent by offering a competitive compensation package that includes excellent health and dental insurance, bonus/incentive potential, generous retirement savings plans, tuition reimbursement, student loan repayment assistance and commuting assistance (either bike, Metro or parking).
This is a Washington, DC-based position. The successful candidate will be expected to work in the DC office Monday-Thursday, with remote work option on Fridays. In addition, employees are afforded an additional 20 days of flex/remote workdays annually.
All applicants must be authorized to work lawfully in the United States for BPI. BPI will not sponsor or take over sponsorship of employment visas.
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