Alumni profile: Lei Chen
Without Michigan State University, the career of Lei Chen may have looked very different.
While earning her PhD in statistics at MSU, Chen developed the skills and connections that led to a successful career in risk management.
Chen is currently the head of lending fraud strategy for Consumer and Community Banking (CCB) at JPMorgan Chase. She is responsible for fraud strategy for CCB lending businesses (e.g. credit cards, auto loans and business banking lending). Prior to joining JPMorgan Chase, Chen was managing director and head of fraud management at Goldman Sachs. She also spent over 20 years in various roles at American Express.
In her current role, Chen helps develop data driven strategy and tools to detect fraud more effectively and efficiently.
“I’ve been in the risk management field for more than 20 years,” she said. “When it comes to fraud risk management, the more you know about fraud, the better you are at it. Fraudsters evolve their techniques all the time, but there are some basic tactics that they always follow. If you know those tactics, you know how to apply the controls to prevent them.”
After earning her bachelor’s and master’s degrees in statistics from Fudan University in China, Chen came to MSU to further her studies. Her time in East Lansing paved the way for an impressive career, beginning with her two-decade tenure at American Express.
It all started at MSU ...
Chen credits MSU for launching her career.
“Without my training at MSU, I would not have been able to land my first job,” she said. “MSU helped me build a technical foundation to land my first job in risk management, which required technical and data analytic skills.”
Her doctoral studies helped her develop problem-solving skills, but she also values the soft skills she gained as a teaching assistant and consultant in the Statistical Consulting Service. This was housed in the Department of Statistics and Probability and later became the MSU Center for Statistical Training and Consulting (CSTAT).
“The teaching experience and consulting experience really helped me improve my communication and interpersonal skills, which are critical in terms of career advancement in any field,” she said.
As international students, Chen and her husband were paired with a host family who helped them appreciate American culture. That family happened to be Fred Poston – former dean of the College of Agriculture and Natural Resources and vice president for operations and finance – and his wife, Charlotte.
“Fred and Charlotte took my husband and me under their wing and treated us like their own children,” Chen said. “We learned all aspects of American culture first-hand – Thanksgiving, Halloween, Christmas – even cutting down a Christmas tree. Because of that, we were able to assimilate ourselves into the culture and into a global company.”
Curiosity has made a difference
Looking back, Chen said that she has been fortunate to work in startup environments, launching new products – such as the Apple Card – and new businesses at both American Express and Goldman Sachs. She has also built strong partnerships and high-performing teams, and driven innovation in each role.
“My philosophy is to always find a way to do things better and faster,” she said. “I am proud of my experience in established businesses to drive transformation, achieve significant business benefits and improve efficiency.”
When asked what advice she would give to students, Chen emphasized curiosity.
“Always be curious,” she said. “Always try to learn new technology. You do not have to be an expert in AI algorithms, but understanding the trends and applying them in your studies is important. Having a basic understanding will help you talk about it – and eventually use it in the workplace.”
AI and soft skills can build a career foundation
Chen noted that AI and emerging technologies are transforming the field of statistics.
“In risk management, we are adopting more machine learning and AI technology to gain insights from the data,” she said. “At the end of the day, I ask: How can I get insight from the data itself? Based on that, I can develop a business strategy with outcomes.”
She also encouraged students to develop complementary skills to succeed after graduation.
“At any job, the ability to get things done is important,” she said. “Students should ask themselves: What skills do I need to get things done.”
As Chen’s career progressed, she took on leadership roles. She said vision casting and communication have been essential to her growth – and are vital for today’s graduates.
“To rally a team, you need a vision,” she said. “Understanding the direction you want the team to go and having a compelling vision is important. Communication and storytelling are key to getting excited and aligned on a vision.”
“You also have to build trust and fellowship so people want to work with you and for you. Once you have that, you get the multiplication factor. That has been very helpful for me.”
Graduating from MSU with technical and soft skills gave Chen a strong foundation. But it was the connections she made with peers and professors that helped her land her first job – and build a successful career.
“I got my first job because I was referred by a fellow MSU PhD graduate student in statistics,” she said. “He graduated one year before me and got a job at American Express. When there was an open position, he reached out to me. That connection made all the difference.”
“My jobs at Goldman Sachs and JP Morgan Chase were the result of referrals – either from my mentor or colleagues I had strong relationships with. If you build strong connections and networks, that can help you in your career.”
Without MSU, Chen’s path might have unfolded very differently. Because of the skills she gained and the relationships she formed, she’s been able to navigate a remarkable journey in risk management. Her experience at MSU didn’t just help her land her first job—it set the stage for a career defined by innovation, leadership and lasting impact.
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