Fraud & Risk Leader, Fintech BaaS

Midland States Bank; Chicago (IL); On-site; USD 90,000 - 130,000; Full time

Benefits offered by this job

Healthcare benefits

Well-being benefits

Paid family leave

Generous paid time off

Employee Stock Purchase Plan

401K with company match

Non-Qualified Deferred Compensation

Job summary

Midland States Bank seeks a Risk & Fraud Officer for Fintech Services to lead fraud prevention across our BaaS offerings. You will craft risk strategies, supervise a team, and ensure compliance with regulatory requirements while guiding executives on incident response.

You will partner with fintech partners, oversee third-party risk, implement Verafin and Cable monitoring, and ensure timely SAR reporting, with travel up to 10% as needed.

Qualifications

• Bachelor's degree in finance, risk management, business administration, or a related field.
• 8+ years of experience in banking compliance with a strong emphasis on fraud management.
• Minimum of 5 years of experience leading teams with coaching and motivation.
• Comprehensive understanding of federal and state banking regulations with fraud prevention expertise.
• Compliance certifications focused on fraud management (e.g., CFE).
• Experience in BaaS and Fintech is highly desirable.

Responsibilities

• Leads development and implementation of fraud detection and prevention strategies for BaaS offerings.
• Oversees compliance and fraud management processes and regulatory alignment.
• Investigates suspicious activities with timely reporting and resolution.
• Monitors third-party vendor performance to mitigate fraud risks.
• Partners with fintech teams to enhance KYC/AML controls and incident response.

Skills

Leadership

Fraud management

Regulatory compliance

Team leadership

Communication

Education

Bachelor's degree in finance, risk management, business administration, or related field

CFE - Certified Fraud Examiner

Tools

Verafin

Cable

Job description

Midland States Bank seeks a Risk & Fraud Officer for Fintech Services to lead fraud prevention across our BaaS offerings. You will craft risk strategies, supervise a team, and ensure compliance with regulatory requirements while guiding executives on incident response.

You will partner with fintech partners, oversee third-party risk, implement Verafin and Cable monitoring, and ensure timely SAR reporting, with travel up to 10% as needed.