Head of CRA (Credit Reporting Agency)

Predictive analytics and machine learning power Socure’s groundbreaking technology and fuel our mission to verify 100% of good identities in real time and completely eliminate identity fraud on the internet.

Socure is the world leader in digital identity verification and fraud prevention. Our recent awards include Forbes 2022 America’s Best Startup Employers, The Forbes Cloud 100, The Deloitte Technology Fast 500, and Inc. 5000’s fastest growing companies.

Listen to why some of the world’s top technology investors see the enormous, transformative potential in Socure’s mission and products:

https://www.youtube.com/watch?v=ifM9_jPQCv8

Overview

We are looking for a CRA Lead  to join our team to work across our product, engineering, legal and compliance teams to spearhead the efforts to set up Socure’s Credit Reporting Agency (CRA). This leader will be responsible for any and all activities revolving around the establishment of a CRA and will oversee the efforts of all team members involved across engineering, legal, compliance and product. This role will play a pivotal role within our product organization and will work with all product leaders to build the next generation of Socure’s products.

Role and Responsibilities

• Strategic Vision and CRA Formation: Collaborate with Socure's executive team for the design and execution plan for the development and roll out of Socure’s CRA as a cornerstone of Socure's long-term strategy. Work closely with the product leadership, legal, compliance and other teams to ensure the CRA's strategic objectives align with Socure's mission to redefine identity verification and fraud prevention.

• Financial Management and Budget Oversight for CRA Formation: Develop, manage, and oversee the budget and financial forecasts specifically allocated for the CRA project. Track key performance metrics related to the initiative, making data-driven decisions to optimize resource allocation and ensure financial viability and success.

• Organizational Structure Development: Functional leadership of a dedicated team for the CRA project, including data engineers, legal and compliance specialists, and customer support staff. Foster a culture of innovation, collaboration, and excellence. Help recruit and hire top talent, building a team capable of navigating the complexities of CRA formation.

• Roadmap Ownership and Alignment with Strategic Objectives: Develop and maintain a detailed roadmap for CRA formation covering the operational, legal, and technical components, ensuring alignment with Socure’s broader strategic goals. Regularly present this roadmap and its progress to C-Level leaders and other stakeholders, holding responsibility for its execution. Identify areas where we can partner with other service providers \ vendors to accelerate the CRA formation efforts

• Market Positioning and Competitive Strategy: Keep abreast of market dynamics, customer needs, and regulatory changes, adjusting strategies accordingly to maintain and enhance Socure’s competitive edge.

• Innovation and Regulatory Compliance: Champion innovation within the CRA formation initiative, encouraging creative problem-solving. Ensure all products and processes comply with FCRA and other relevant regulations and be able to speak to them, turning compliance into a competitive advantage.

• Evangelism and Industry Leadership: Serve as the primary evangelist for Socure’s CRA services, representing Socure at press activities, conferences, and industry discussions. Engage with thought leaders and market analysts to position Socure as a pioneer in the integration of identity verification and credit reporting.

• Deep Understanding of CRA, Fraud Prevention and Credit Risk Trends: Maintain an expert level of understanding of trends, controls, and regulatory developments in the CRA domain. Use this knowledge to inform product development, Infrastructure and data segregation models, and strategic decisions.

• Operational Excellence and Infrastructure Development: Oversee the development of robust, scalable infrastructure capable of supporting CRA operations, including data management, consumer dispute resolution, and secure access protocols. Prioritize flexibility and robustness to adapt to evolving regulatory and market needs.

• Analytical Review and Stakeholder Engagement: Interpret quantitative results from CRA operations and translate them into strategic insights for internal and external stakeholders. Conduct peer reviews and build strong relationships with all stakeholders, ensuring transparency and alignment on objectives.

• Develop and roll out a consumer disputes program: Work with SME’s across legal, compliance, product as well as our customers to define, build, recruit and operationalize a consumer disputes program. Influence build\buy\partner decisions and develop business cases for all CRA related investments

Required Qualifications 

• Bachelor’s degree in Business, Law, Finance, or a related field is required. An advanced degree (MBA, JD, or equivalent) is strongly preferred.

• Deep understanding of the Fair Credit Reporting Act (FCRA), Consumer Financial Protection Bureau (CFPB) regulations, the Gramm-Leach-Bliley Act (GLBA) and other relevant state and federal laws impacting CRAs and being able to articulate the differences between those. Familiarity with global privacy laws (e.g., GDPR) that affect consumer data is a plus.

• Minimum of 10 years of professional experience, with at least 5 years in a leadership role related to credit reporting, financial services, fraud prevention, or a closely related field. Experience in navigating the regulatory landscape of consumer reporting agencies is essential.

• Proven track record in strategic planning and execution, including the development and management of a comprehensive rollout plan within the financial services or tech industry.

• Strong financial management skills, including budgeting, forecasting, and data \ resources investments management

• Experience in building teams from the ground up and fostering a culture of innovation and collaboration.

• Exceptional communication abilities, with the skill to articulate complex regulatory and technical concepts to a variety of audiences, including senior executives, regulatory bodies, and non-technical stakeholders.

• Experience in stakeholder management, with the ability to navigate complex regulatory environments and build relationships with key industry players, including regulatory agencies and strategic partners.

• High degree of adaptability and flexibility to navigate the changing regulatory and technological landscape of digital identity and credit reporting.

• Strong ethical standards and a commitment to compliance and data protection principles. Understanding of the importance of consumer rights and accuracy in reporting.

• Ability to travel on an ad-hoc basis

Preferred Qualifications

• MBA, JD, or similar advanced degrees. 

• Experience working with large data sets and graph databases

• Extensive experience in product lifecycle management, from concept to launch, including defining product specifications, working with R&D, and ensuring product-market fit.

• Familiarity with data science and machine learning applications in the context of fraud prevention and credit scoring. Ability to collaborate effectively with engineering teams to guide the development of technical solutions.

Salary Disclosure:

Base Salary range: $230,000 - $290,000

This represents the expected salary range for this job requisition. Final offers may vary from the amount listed based on factors including geography, candidate experience and expertise, and other job related factors. Socure's compensation and rewards package for full time roles includes a market competitive salary, equity,  comprehensive benefits, and an annual discretionary performance bonus. 

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We empower excellence by providing great perks and benefits to both our fully remote employees in North America and our hybrid teams in India.

To learn more, check out Socure’s Career Page: https://www.socure.com/company/careers

Socure is an equal opportunity employer and value diversity of all kinds at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.

To learn more about how our work is changing the world, check out these articles and videos:

• Socure is Forbes' 2022 Best Startup Employer: https://bit.ly/3fbNw8S

• Socure Accelerates Onboarding for 50+ Crypto, Neobanks, and More: https://bit.ly/3dwN2K7

• Socure's Impact on Financial Inclusion: https://www.youtube.com/watch?v=Y6nBc6s1wsU

• Socure's Impact on Fraud Prevention: https://www.youtube.com/watch?v=M46UG8QyKe4

• Archives & Press Releases: https://learn.socure.com/about/press-release

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