Senior Fraud Manager, Credit Card

4 weeks ago

Chicago, Illinois, United States Snap Finance Full time

Company Overview:

Snap Finance is a leading financial technology company that provides innovative financial products to customers who otherwise do not have access to mainstream financial products.

We are committed to financial inclusion, delivering exceptional value and customer satisfaction to our customers.

Position Overview:

We are seeking a highly skilled Senior Fraud Manager to support our efforts in detecting, preventing, and mitigating fraudulent activities.

The Senior Fraud Manager will play a critical role in safeguarding our customers' financial assets and maintaining the integrity of our platform.

Responsibilities:

  • Design, develop and manage a robust consumer credit card fraud prevention and management system.
  • Leverage data to identify fraud trends, designing and implementing strategies to prevent and mitigate fraud attacks across the fraud lifecycle.
  • Create and deploy Third-Party and First-Party fraud strategies to manage fraud losses while ensuring an optimal customer experience.
  • Develop real-time detection of potential issues across key customer and fraud touch points, and 24/7 alerting and monitoring of such issues to allow quick remediation.
  • Constantly evaluate the adequacy of fraud prevention rules and put in place a process to optimize fraud strategies on a near real-time basis.
  • Develop best practices and processes for fraud scoring rules and other business improvements to reduce fraud activity.
  • Build out and lead high performing fraud team as needed.
  • Identify and onboard third-party fraud tools and vendors; review and evaluate potential technology investments for fraud management.
  • Own fraud vendor management relationships and be responsible for managing the success of those relationships.
  • Own the management of internal and third-party business logic associated with fraud detection and response.
  • Respond to fraud events and coordinate with cross-functional teams.
  • Manage, build and improve our processes to better detect early attacks and anomalies within our system.
  • Provide regular monitoring and reporting on OKRs and KPIs to executive leadership, and stress needs and prioritization for capabilities needed to meet goals.
  • Provide data-driven fraud analytics and insights to internal stakeholders.
  • Be accountable for the development, implementation, and governance of fraud procedures/processes, and ensure Fraud policy/process alignment & implementation for both fraud and supported business lines.
  • Oversee the execution of frontline controls and risk assessment activities.
  • Report on fraud trends and understand what bad actors are discussing in underground forums in numerous areas in order to understand vectors of attack and create solutions to mitigate the risk.
  • Review fraud attacks/ emerging threats to understand & address coverage gaps within strategies, policies, procedures, and prioritizations to deliver on fraud loss plans and optimize return on investment.
  • Partner with analytics, risk operations and technology groups to identify data sources and develop processes for capturing required data.
  • Partner closely with Product and Engineering to develop the next generation of fraud capabilities.
  • Oversee internal and 3rd party/vendor managed dispute and chargeback operations, developing best practice to reduce dispute losses and credit card chargebacks.
  • Provide data-driven dispute/chargeback analytics and insights to internal stakeholders.
  • Develop and set dispute and chargeback policy, procedures and controls.
  • Manage First Party fraud while maintaining adherence to Reg Z and Reg E (when applicable).

Requirements:

  • 5+ Years of relevant fraud management / operations in consumer finance (credit card space) at a reputable institution and/or successful financial startup.
  • Experience across the fraud lifecycle (e.g. onboarding/ synthetic, strong experience with transactional fraud, ACH return etc.).
  • Experience with dispute/chargeback management and collections.
  • Strong analytical skills with examples of tracking key KPIs and making data-driven decisions to optimize performance and strategy.
  • Enjoy wearing multiple hats, have exceptional organizational, prioritization, and project management skills, with a passion for details and quality.
  • Self-sufficient with a high level of accountability - the ability to set ground up strategy and drive execution end to end.
  • Strong communication skills to thrive in a cross-functional environment with the ability to deliver compelling presentations that convey key insights in a clear and concise manner.
  • Given the fast-paced nature of fraud prevention, the individual must be available occasionally during off-working hours to monitor or respond to potential fraud attacks.

Why Join Us:

Opportunity to make a significant impact and drive growth at a fast-growing startup.

Collaborative and inclusive work environment where your ideas are valued and encouraged.

Competitive compensation package.

Comprehensive benefits package includes health, dental, vision, and 401(k) matching.

Flexible work arrangements and a culture that promotes work-life balance.

Snap Finance values diversity and all qualified applicants will be considered for employment without attention to race, color, religion, sex, sexual orientation, gender identity, national origin, veteran or disability status.

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