• Consumer Finance - Application Fraud Strategy - Associate - New York City

    Location(s) US-NY-New York
    Job ID
    Schedule Type
    Full Time
    Consumer Banking
    Consumer and Commercial Banking Division
    Business Unit
    DigFin Project Bus Risk Fraud
    Employment Type

    Consumer and Commercial Banking (CCBD)

    Consumer and Commercial Banking Division brings innovative solutions to traditional banking activities. We are a global team of lenders, investors, risk managers, skilled marketers, web experts and banking specialists. We provide a suite of solutions to help our customers meet their personal financial goals. We make direct investments in, and manage risk of, a portfolio of corporate loans and securities. And we help transform distressed communities through investments and loans of private capital.


    Digital Finance Description

    Digital Finance, a business unit within CCBD, is comprised of the firm’s digitally-led consumer businesses, which include the Marcus deposits and lending businesses, as well as the personal financial management app, Clarity Money. Digital Finance combines the strength and heritage of a 149-year-old financial institution with the agility and entrepreneurial spirit of a tech start-up. Through the use of machine learning 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.


    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

    Preferred Skills

    • 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


    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.

    © The Goldman Sachs Group, Inc., 2018. All rights reserved Goldman Sachs is an equal employment/affirmative action employer Female/Minority/Disability/Vet.