Vice President of New Account Underwriting & Fraud Strategy
Join to apply for the Vice President of New Account Underwriting & Fraud Strategy role at BMG Money
Vice President of New Account Underwriting & Fraud Strategy
Join to apply for the Vice President of New Account Underwriting & Fraud Strategy role at BMG Money
Title: Vice President of New Account Underwriting & Fraud Strategy
Reports to: Chief Credit Risk Officer
Location: US Remote
About the Company
At BMG Money, our mission is to provide access to affordable and responsible credit for underserved consumers facing unexpected expenses. We all share one vision— Redefining lending through technology where underserved individuals can thrive financially through forward-thinking, responsible, and innovative financial solutions.
Job Summary
We are seeking a Vice President of New Account Underwriting and Fraud Strategy. This critical role involves developing and implementing underwriting strategies, fraud detection strategies, and other credit risk management initiatives to ensure sustainable growth while maintaining appropriate risk/reward trade offs. The ideal candidate will have a deep understanding of credit risk in the subprime lending space, experience in team-building, and a proven track record of collaborating with partner banks to optimize credit portfolios and ensure regulatory compliance.
Key Responsibilities
- Develop and manage comprehensive new account underwriting and fraud prevention strategies to ensure proper risk mitigation, growth and profitability.
- Build, mentor, and manage a high-performing team of credit risk managers, data analysts and fraud strategy specialists.
- Evaluate new data and tooling to expand fraud detection capabilities.
- Assist decision sciences team in evaluation of new data sources for potential use in models, strategies or other consumer insights.
- Collaborate with decision sciences, account management, collections, compliance, and senior leadership to align credit and fraud strategies with business objectives.
- Establish and maintain strong working relationships with partner banks, ensuring mutual understanding of risk policies and model standards.
- Develop and oversee key performance metrics to evaluate the effectiveness of underwriting and fraud strategies.
- Monitor and improve credit and fraud strategy performance over time through rigorous testing and evaluation.
- Ensure compliance with regulatory standards and internal risk governance policies.
- Monitor of industry trends, regulatory changes, and emerging best practices in credit risk management and fraud prevention.
- 10+ years of experience in credit risk and fraud management within the lending industry, preferably in subprime or non-prime segments.
- Proven leadership experience in building and managing strategic and analytic teams.
- Ability to build and manage high functioning remote teams.
- Strong understanding and application of credit scoring models.
- Strong strategic thinking and problem-solving skills with a data-driven mindset.
- Ability to assess complex risk scenarios and implement effective mitigation strategies.
- Familiarity with modern data platforms, Python, R, SQL, and cloud based analytic tools.
- Deep understanding of credit risk frameworks and regulatory requirements (e.g., FDIC, CFPB, OCC).
- Excellent communication skills, with the ability to explain complex concepts to non-technical stakeholders.
- Demonstrated success in operating within partner bank relationships.
- Experience with payroll related lending and risk management.
- Experience using cash flow data in underwriting.
- Bachelor's degree in Finance, Business Administration, Economics, or related field; MBA or advanced degree preferred.
Seniority level
Seniority level
Executive
Employment type
Employment type
Full-time
Job function
Job function
Finance and Sales
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