Director of Risk, Current
$220-280k
+ Meaningful equity in the form of stock options & Discretionary performance bonus program
Office located in Chelsea, NY
Online banking & financial services
Be an early applicant
Online banking & financial services
201-500 employees
Be an early applicant
$220-280k
+ Meaningful equity in the form of stock options & Discretionary performance bonus program
Office located in Chelsea, NY
201-500 employees
Company mission
To build the future of banking.
Role
Who you are
- Fraud leader - experienced in Fraud risk domain throughout the lifecycle of account management, transactions, and disputes / chargebacks
- Results-oriented - You ground contributions in real business and customer impact and prioritize effectively to maximize speed-to-impact
- Exceptional written and oral communication skills. Builds context and tells a cohesive story across multiple complex systems
- Critical thinker - you consider problems from all angles to remove bias and touch bottom on key assumptions
- Fast learner - you pick up new skills and tools to get the job done
- Creative problem-solver - able to identify obstacles and present viable solutions
- Thrive in a fast-moving, ambiguous environment
- Excited by large breadth of problem areas
- Experienced risk leader with 8-10+ years of professional experience
- Domain knowledge in fraud, disputes/chargebacks, and payment processing in consumer fintech, deposit and credit businesses
- Expert in risk-related regulations (e.g., AML, Reg E, Reg Z, Reg CC) and external partners / value chains (e.g. VISA, KYC Partners, money-movement partners, and offshore vendors)
- Undergraduate Degree with a quantitative major in Statistics, Economics, Computer Science, Mathematics, or related field
- Expert in quantitative analysis, exploratory / root cause analysis, business case development, experimental design and impact measurement, performance forecasting and monitoring, model monitoring, procedures, and risk management / maturity model frameworks
- Exceptional written and oral communication skills
- Strong people leader and collaborator; experienced in leading organizational change
- Able to handle competing priorities and influence leadership decision-making
What the job involves
- We are looking for a Director of Risk to join our team and lead Current’s fraud strategy function, including oversight of new account creation, authentications, first party fraud, authorizations, disputes, and chargebacks. This role balances hands-on oversight with forward-thinking strategy, enabling the business to innovate boldly while managing fraud risk
- This leader will also play a critical role in building a world-class enterprise risk management function. Reporting directly to the VP of Risk, this leader collaborates across teams, acts as a trusted partner to business owners and compliance groups, and cultivates a culture of proactive risk ownership
- Actively manage fraud risk to deliver Company objectives
- Oversee risk strategy across the lifecycle, including onboarding (KYC) and ongoing (authentications / ATO, first party fraud) account fraud, card and money movement transaction risk, debit and credit disputes processing and chargeback strategies. Support fraud strategy team and actively deliver new initiatives when needed
- Support accountable business leads in the definition of and management against fraud risk tolerances, including system and manual processing controls
- Define a multi-phase risk roadmap; Focus the company to invest in fraud hot spots and make progress against risk appetite
- Monitor risk trends and performance; own incident response including root cause analysis and go-forward controls
- Identify and surface emerging tools, capabilities, and/or data sources which will drive a strategic advantage for Current
- Develop relevant risk vendor relationships
- Support business leads and compliance partners in bank partner relationship management
- Build, manage, and maintain a world-class enterprise risk management function
- Champion a transparent, pragmatic risk culture; equip first-line teams to own risk and make informed decisions
- Develop and maintain robust risk procedures
- Conduct second-line review of new initiatives to spot, assess, and preempt fraud risk
- Work closely with Finance and accountable business leads to deliver a well-managed process for provisioning, true-up and release of loss allowances
- Hire, mentor, develop, and inspire a small but high-impact risk team ready to scale with the business
Our take
Current is a neobank offering digital banking services, with a focus on younger generations and paycheck-to-paycheck customers. It offers a swathe of innovative services including on-demand pay and overdraft protection to people underserved by traditional institutions.
Younger customers are expected in the coming years to pivot from legacy institutions to the higher functionality and lower costs of consumer-first neobanks like Current. By netting an average customer age of 27, Current is establishing itself as a pack leader among rival but less well-funded neobanks like Step or Till.
It is also successfully competing with legacy institutions by exploiting the relatively adaptive nature of neobanking. Current has previously offered customers advanced access to stimulus checks, and is seeking to expand into crypto. The company continues to raise funding which supports its continued growth and an accelerated path to profitability.
Steph
Company Specialist at Welcome to the Jungle
Insights
-2% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Apr 2021
$220m
SERIES D
Nov 2020
$131m
SERIES C
Total funding: $392.6m
Company benefits
- Company equity
- Flexible vacation policy
- Commuter benefits
- Discretionary bonus program
- Medical, Dental & Vision
Company HQ
Little Italy, New York, NY
Leadership
Stuart Sopp
(Founder & CEO)Worked as a Trader for BNY Mellon and Deutsche Bank for a combined 9 years before serving as Head of Trading at Citi and Morgan Stanley. Left this role after 5 years to found Current in June 2015, working as CEO ever since.
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