MORE ABOUT THIS JOB Consumer and Investment Management (CIMD) The Consumer and Investment Management Division includes Goldman Sachs Asset Management (GSAM), Private Wealth Management (PWM) and our Consumer business (Marcus by Goldman Sachs). We provide asset management, wealth management and banking expertise to consumers and institutions around the world. CIMD partners with various teams across the firm to help individuals and institutions navigate changing markets and take control of their financial lives.
Consumer Consumer, externally known as Marcus by Goldman Sachs, is comprised of the firm's digitally-led consumer businesses, which include our deposits and lending businesses. It also includes our personal financial management app, Clarity Money. Consumer combines the strength and heritage of a 150-year-old financial institution with the agility and entrepreneurial spirit of a tech start-up. Through the use of insights and intuitive design, we provide customers with powerful tools that are grounded in value, transparency and simplicity to help them make smarter decisions about their money.
RESPONSIBILITIES AND QUALIFICATIONS Your Impact In your role on the Fraud Strategy team for the US-based consumer businesses, you will be responsible for the design, development and execution of a comprehensive fraud strategy and supporting analytics and management reporting. The ideal candidate will be able to analyze fraud trends, develop fraud strategies and implement the fraud rules needed to address current as well as evolving fraud threats. Ideal candidates will have expertise in and passion for the prevention of both Application and Transaction fraud, as well as a passion for using innovative technology-driven solutions to provide world class customer experiences within the established risk thresholds of the business, and experience leveraging multiple disparate data sources in an integrated decision engine in order to make real time decisions on applicants and/or transactions. The candidate must be able to collaborate and influence across divisions to deliver enterprise fraud initiatives and have experience working with internal and external governance teams across the business including Customer Operations, Financial Crimes (AML), Compliance, Decision Sciences and Technology.
Job Summary and Responsibilities
Use a data-driven approach to understand fraud risk and design effective Application, Transaction and Payment Fraud prevention programs
Obtain approval for implementation of changes to the Fraud Strategy
Execute changes to the fraud strategy (requires proficiency in Java, R, Python or similar languages)
Establish the appropriate analytical environment and reporting to ensure comprehensive fraud coverage
Work directly with the Customer Operations leadership team responsible for execution of the fraud strategy
Supervise high risk investigations on fraudulent applications and suspicious user activity and own strategy changes
Research and remain current on the latest industry fraud trends and recommend tools, services, and practices for improvement
Identify and develop process improvements/automation to maximize efficiency of fraud detection activities as required
Review, evaluate and drive selection of new vendors or technologies to enhance the fraud strategy and mitigate emerging risks
Proficiency in Java, R or Python
Proficient in SQL
Previous experience building transaction fraud strategies
Advanced analytical/quantitative and deductive reasoning skills
Hands on, self-motivated, quick-learner, assertive and well organized
Ability to work independently, but still be a strong team player
Previous experience in automation, process optimization and increasing efficiency
Attention to details and excellent oral and written communication skills
Flexibility and ability to manage multiple projects
Decision sciences experience a plus
Experience with graph databases a plus
Big data experience a plus
ABOUT GOLDMAN SACHS The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.