Early Warning® · 1 week ago
Sr. Fraud and Model Risk Manager
Chicago, IL
Full-time
Hybrid
Senior Level, Lead/Staff
$129K/yr - $161K/yr
12+ years expEarly Warning is a trusted name in payments, partnering with institutions to enhance financial services and protect transactions. The Senior Fraud and Model Risk Manager will oversee and govern the enterprise's fraud and model risk activities, requiring expertise in fraud risk management and strong analytical skills.
Financial ServicesFraud DetectionPaymentsRisk Management
No H1B
Responsibilities
Design and operate an effective 2LOD fraud risk management program, including policies, standards, fraud risk appetite, KRIs, tolerances, and aggregate fraud risk at enterprise level
Provide independent oversight and challenge of 1LOD fraud strategies, rules, controls, operations and red teaming efforts. Oversee fraud loss metrics, trends, and root-cause analysis
Provide independent oversight and governance of AI/ML models, including the use of Generative AI. Maintain a strong model risk management framework, including but not limited to model inventory, risk assessment, approval, deployment, change management, and ongoing performance evaluation
Enable strong cross-functional governance and communication, establishing forums and partnerships across 1LOD, 2LOD, Compliance, Cyber Risk, Data Science, Fraud Analytics, Product, and Risk teams to support real-time information sharing and coordinated risk response
Support regulatory, audit, and reporting needs, including tracking regulatory developments, supporting internal and external audits, preparing risk reporting for business reviews, committees, and audits, and ensuring clear accountability for risk management decisions
Promote risk culture, awareness, and data protection, contributing to fraud and model risk training, stakeholder education, and supporting the organization’s commitment to safeguarding system integrity, data confidentiality, and customer trust
Qualification
Required
Bachelor's degree in Computer Science, Data Science, Risk Management or a related STEM discipline
12+ years of experience in Fraud Risk Management, Model/AI Risk Management, AI/ML development, Financial Crime, Audit or Compliance roles
Experience with Fraud Risk Assessments, KRIs and loss analytics
Working knowledge of fraud typologies (payments, identity, scams, social engineering)
Excellent communication, organization, and interpersonal skills, with demonstrated ability to collaborate and build trust in business partners
Demonstrated success leading risk functions in a 3LOD environment
Experience with policy development as it relates to meeting compliance requirements
Demonstrated ability to work effectively in a complex, highly regulated environment
Background and drug screen
Preferred
Master's Degree
Experience in banking, fintech, payments, real-time P2P, cards, ACH, or network-based platforms
Knowledge of regulatory guidance (e.g., FRB SR 11-7, OCC 2012-11, CFPB, FFIEC), NIST AI framework and fraud governance framework
Hands-on experience in AI/Model Risk Management
Professional certifications such as CFE, CRCM, or CAMS
Benefits
Healthcare Coverage – Competitive medical (PPO/HDHP), dental, and vision plans as well as company contributions to your Health Savings Account (HSA) or pre-tax savings through flexible spending accounts (FSA) for commuting, health & dependent care expenses.
401(k) Retirement Plan – Featuring a 100% Company Safe Harbor Match on your first 6% deferral immediately upon eligibility.
Paid Time Off – Unlimited Time Off for Exempt (salaried) employees, as well as generous PTO for Non-Exempt (hourly) employees, plus 11 paid company holidays and a paid volunteer day.
12 weeks of Paid Parental Leave
Maven Family Planning – provides support through your Parenting journey including egg freezing, fertility, adoption, surrogacy, pregnancy, postpartum, early pediatrics, and returning to work.
Company
Early Warning®
Early Warning Services, LLC, a financial services technology leader, has been empowering and protecting consumers, small businesses, and the U.S.
1001-5000 employees
Funding
Current Stage
Late StageLeadership Team
Cameron Fowler
Chief Executive Officer
Recent News
Payments Dive
2025-10-31
Company data provided by crunchbase