Fraud Strategy Manager - FinTech Startup

Fraud Strategy Manager

Job Description:

- Company's mission is simple, we want to make financial products accessible to everyone.

Offers the ambitious a plethora of products to simplify banking globally, such as:

- A Bank Account you can create from anywhere in the world in under five minutes.

- A Credit Card that helps build a healthy credit score.

- Easy, lightning-fast, cross-border money transfers with the best rates in the market.

- Marketplace for better deals on Auto loans, personal loans, education loans, health insurance, renters insurance, auto insurance etc.

- Other value added services like visa assistance, sim cards, flights, scholarships etc expanding its horizons, and we're excited to open our doors to everyone expanding theirs.

- You will get to work with a best of the breed team of technologists, scientists and product managers in this journey.

- We believe that if space tourism is real, so is reaching for the stars.

Job Overview:

- As a Fraud Strategy Manager you will play a crucial role in safeguarding our fintech startup from fraudulent activities.

- You will be responsible for developing and implementing robust fraud prevention and detection strategies, leveraging advanced analytics, and collaborating with various teams to protect our customers and our business.

- The ideal candidate is a proactive problem solver with a deep understanding of fraud dynamics in the fintech space.

- You will own the product and operational aspects of fraud detection and prevention.

This includes:

1. Onboarding/Profile level fraud check strategy including OFAC/FATF checks.

2. Network Transaction monitoring.

3. Chargeback reduction.

4. Handling ACH reversals and Real time Payment fraud (FedNow/RTP).

5. AML monitoring strategies.

Responsibilities:

- Design and execute comprehensive fraud prevention and detection strategies tailored to a fintech environment.

- Monitor and analyze emerging fraud trends, adapting strategies to mitigate risks promptly.

- Utilize advanced data analytics to identify patterns and anomalies indicative of fraudulent activities.

- Develop and maintain real-time dashboards and reports to track fraud trends and measure the effectiveness of prevention strategies.

- Present insights and recommendations to senior management to inform decision-making.

- Oversee day-to-day fraud detection operations, ensuring timely and accurate identification and investigation of suspicious activities.

- Implement and optimize fraud detection tools and systems to enhance the company's fraud prevention capabilities.

- Create and update fraud-related policies and procedures, ensuring compliance with industry standards and regulatory requirements.

- Collaborate with Product, Engineering, Legal, Compliance, and Customer Support teams to address fraud-related issues and implement preventive measures.

- Engage with external partners, industry groups, and law enforcement to stay informed about new fraud tactics and prevention methods.

Requirements:

- Atleast 5-6 years of experience in fraud prevention, risk management, or a related field, preferably within the fintech industry.

- Familiarity with US BSA/AML regulations(preferred).

- Proven experience in developing and implementing effective fraud prevention strategies.

- Strong analytical and problem-solving skills with proficiency in data analysis tools (e.g., SQL, Python, R).

- Experience with fraud detection software and machine learning techniques.

- Strong understanding of regulatory requirements and industry best practices related to fraud and financial crimes.