“This position is located in the Consumer Financial Protection Bureau, Division of Research, Markets & Regulations (RMR), Office of Consumer Credit, Payments, and Deposits.”
As a Consumer Reporting and Financial Services AI Program Manager, you will:
- Lead, coordinate, and/or facilitate work and projects with analysts or cross-functional teams of analysts engaged in monitoring of current and emerging issues relating to all aspects of the consumer reporting industry and the use of credit, deposit account, and nonfinancial information in consumer finance, housing, insurance, employment, health care, and debt collections. This includes monitoring of institutional practices and legal compliance with applicable consumer laws (e.g., Fair Credit Reporting Act; Gramm, Leach, Bliley; Equal Credit Opportunity Act; etc.). This also includes monitoring the application of artificial intelligence (AI) and alternative data in all aspects of credit transactions and the provision of financial services.
- In collaboration with other offices of the Bureau, assess the adequacy of current industry practices and develop new approaches to measure and improve consumer report accuracy and the effectiveness of dispute systems in investigating and resolving inaccuracies, including potential rules for consumer reporting agencies and furnishers. Assess processes used by lenders and consumer reporting agencies to disclose and explain report contents to consumers as required under the FCRA and ECOA. Assess processes used by consumer reporting agencies and other sources of consumer information to accurately match incoming information about a consumer from various sources to a single consumer file or identity.
- Monitor, for potential consumer benefit and risk, emerging sources of data used to market or determine eligibility or pricing for various consumer financial services. This includes data created through a consumer’s various financial and purchase transactions, structured and unstructured data created and collected through a consumer’s interactions with various Internet-connected devices, and other commercially available data sets. Monitor evolution of credit scores and general analytic techniques and algorithms used to derive risk assessments and predict consumer behavior for use in underwriting and marketing decisions. Track evolution of marketing of credit and other financial services to consumers using pre-screening based on consumer information derived from consumer reporting data and other data sources.
- Monitor, for potential consumer benefit and risk, emerging uses of AI/machine learning (ML) technology and alternative data in credit decisioning and consumer data explainability, consumer financial regulatory compliance, the provision of financial services, and loss mitigation. Collaborate with other Bureau stakeholder offices in monitoring AI/ML technology in the areas above, in particular Office of Research, Office of Innovation, Offices of Supervision and Enforcement, and Office of Fair Lending and Equal Opportunity”