What are the responsibilities and job description for the Risk and Fraud Specialist - Fintech Services position at Midland States Bank?
Pay Rate: $25-$33/hour
At Midland States Bank, base salary is one component of our Total Rewards program. Exact compensation is determined by factors such as (but not limited to) education, skills, internal equity, and experience. This position offers additional compensation in the form of short-term incentives (i.e. bonus and/or commission) and may include long-term incentives (i.e. stock awards). Benefits for this role include comprehensive healthcare, well-being benefits, paid family leave as well as generous paid time off. Total Rewards also include banking perks, an Employee Stock Purchase Plan, 401K plan with company match and may include the opportunity to participate in our Non-Qualified Deferred Compensation plan. Incentives and benefits are subject to eligibility requirements.
Position Summary
The Risk & Fraud Analyst - Fintech Services is a key role within the bank, responsible for supporting the operational risk framework and ensuring the integrity of Fintech operations. This role focuses on identifying, assessing, and mitigating operational risks within Fintech products and services, collaborating closely with business units and ensuring the effectiveness of risk controls. The ideal candidate will have strong analytical skills, a keen eye for detail, and the ability to work in a fast-paced environment to protect the bank’s assets, clients, and reputation. This position is an individual contributor role.
Primary Accountabilities
- Performs detailed assessments to identify potential operational risks within fintech services, such as those related to technology, data privacy, and regulatory compliance.
- Analyzes operational data and system outputs to detect patterns or anomalies that indicate potential risk factors.
- Participates in risk assessments for new Fintech products and services, ensuring that appropriate risk controls are in place.
- Assists in the design and implementation of risk controls and mitigation strategies, ensuring alignment with bank policies and regulatory standards.
- Monitors the effectiveness of controls across Fintech services and provide recommendations to improve risk management practices.
- Works closely with technology and compliance teams to resolve identified risk gaps and enhance control frameworks.
- Prepares comprehensive reports on operational risks, control effectiveness, and recommended improvements for senior management review.
- Documents risk assessments, findings, and mitigation efforts for audit, regulatory, and internal review purposes.
- Tracks and reports on risk metrics and key risk indicators (KRIs) to inform management and support continuous improvement.
- Collaborates with Fintech product managers, compliance, and IT teams to ensure integrated risk management across all Fintech services.
- Provides periodic training and education for team members on operational risk policies and best practices, fostering a culture of risk awareness.
- Acts as a liaison between operational risk management and other departments, supporting a proactive and aligned approach to risk.
- Acts as a liaison between operational risk management and other departments within the bank, fostering cross-functional support and engagement.
- The role requires occasional travel for training and team meetings, and willingness to travel periodically, to locations within market as needed.
- May require work in a Midland office to ensure collaboration and support of internal and external customers.
- Maintain compliance with all applicable regulations including, but not limited to, the Bank Secrecy Act (BSA).
- Other duties as assigned.
Position Qualifications
Education/Experience:
- Bachelor's degree in Finance, Business, Information Technology, Risk Management, or a related field or combination of equivalent work experience.
- Minimum of 3-5 years of experience in a financial institution.
- Experience in Risk Management, Financial Crimes, Fintech Services, or a technology-focused role preferred.
- Relevant certification in fraud or BSA is a plus.
- Strong analytical skills and experience in risk assessment, control evaluation, and process improvement.
- Familiarity with regulatory requirements related to Fintech operations, data privacy, and cybersecurity.
- Proficiency in risk management software and tools; experience with Fintech systems is a plus.
- Strong communication skills, with the ability to present complex information clearly to both technical and non-technical stakeholders.
- Attention to detail, with the ability to manage multiple priorities and meet deadlines.
- Strong organization and time management skills.
- Ability to work independently and as part of a team.
Competencies:
- Business insight
- Cultivates innovation
- Drives results
- Makes sound decisions
- Being a brand champion
- Collaborates
- Communicates effectively
- Customer focus
- Being Authentic
- Emotional Intelligence
- Self development
- Being flexible and adaptable
At Midland States Bank, we believe that when we can bring our whole selves to work each day, we become happier, more comfortable, more confident and more excited to do great things for our customers, each other and our company. We’re proud to be an Equal Opportunity and Affirmative Action employer. At Midland, we recruit, employ, train, compensate and promote without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status. If you are looking for a place to grow, we encourage you to apply at Midland States Bank, because you belong here.
If you require reasonable accommodation in completing this application, interviewing, completing any pre-employment testing, or otherwise participating in the employee selection process, please direct your inquiries to Midland States Bank Human Resources at HR@midlandsb.com.
THIS JOB DESCRIPTION DOES NOT CONSTITUTE A CONTRACT FOR EMPLOYMENT
Salary : $25 - $33
