Fraud Risk Manager

About the Role

We are seeking a highly motivated and experienced Fraud Risk Manager. Finom offers European freelancers and micro-SMEs an end-to-end payment journey. As an Subject Matter Expert on the topic of customer fraud, you will own the end-to-end fraud risk management cycle, to ensure that Finom’s geographic and product expansion is done in a controlled way, and fraud metrics are best-in-class. This role sits in the 2nd Line of Defense and reports to the Head of Financial Crime Risk. 

Are you keen on redefining how Financial Crime is done in the financial industry? Do you thrive in a fast-paced, compliance-focused environment? Then this is an excellent opportunity to make a significant impact. 

What You Will Be Doing

• Take ownership of and continue developing the AntiFraud portfolio of rules/controls to mitigate, maintain ambitious true positive rates and numbers of alerts per active customer, work with stakeholders in development and operations teams to continuously improve performance of the rule portfolio; 

• Take ownership of fraud-related vendor relationships and continuously improve the tech stack behind Finom’s anti-fraud risk engine; 

• Effectively collaborate with Finom’s Machine Learning Engineering team to improve the quality of AntiFraud detection as part of the overall Dynamic Customer Risk Assessment models; 

• Lead a team of 5 antifraud investigators continuously monitoring and improving the fraud control environment; 

• Actively participate in the New Product Approval Process to ensure that fraud considerations are incorporated into new products by design; 

• Provide guidance and training to the 1LoD on Fraud related topics; 

• Participate in the annual SIRA (Systematic Integrity Risk Assessment) cycle, annual AFC audits and support Head of FinCrime Risk in other inquiring from external and internal fraud-related enquiries; 

• Support the Head of FinCrime Risk in the definition and implementation of the overall FinCrime Risk Management strategy; 

• Establish effective communication with stakeholders: product team (on producing business requirements on fraud-related features and the impact they have on the customers), Risk Management (harmonization of approaches with CDD, AML, Sanctions Risk Managers), Quality Assurance (implement best practices in reviewing alerts based on the anti-fraud scenarios and making correct decline/offboard decisions). 

• Initiate and take responsibility for ad hoc project work within the department;

• Performing other duties as reasonably required for the operational efficiency of Finom (pro-actively deemed necessary by the employee) or/and as communicated by the manager. 

Your role is to perform the end-to-end fraud risk management cycle:

• Risk identification (anomaly monitoring & identification of new typologies)

• Risk assessment (defining the risk appetite on fraud typologies) 

• Risk assessment (development of controls to mitigate identified risks) 

• Risk monitoring (monitoring KPIs & KRIs)

• Risk reporting (reporting to the Risk Committee, Head of Fincrime Risk, Management Board and Supervisory Board on fraud trends).

Metrics you own and drive:

• Gross & Net Fraud rate 

• False Negative rate 

• Fraud Losses

• Account Takeover Rate 

• Decline Rate & Account Closure rate (fraud-related) 

Required Experience & Skills

• 6+ years of experience working in the anti-fraud domain, at least 3 of them in the B2B space;

• Experience with end-to-end implementation of anti-fraud controls within a fintech or other financial institution;

• Thorough and specific knowledge of typologies of transactional and behavioral fraud;

• Experience working with BI and data analytics tools (PowerBI, Data Bricks, Metabase or equivalent), knowledge of SQL is a strong plus, but not a precondition;

• Strong awareness of the antifraud tool stack and experience implementing systems from scratch;

• Min 1-2 years of team management experience;

• English – full working proficiency;

• Active user of AI tools or understanding of how AI can be used in AntiFraud;

• Detail-oriented and highly motivated self-starter;

• Critical and analytical thinking;

• Start-up oriented: ownership mindset, proactive, result-driven, and capable of working under own initiative and little supervision.

Application Process

Your application will be reviewed and if successful, a member of the Talent Acquisition Team will be in touch within the next few days. Standard interview process: 

• Recruiter Interview

• Team Interview

• Case study 

• Final Interview