Fraud Risk Oversight Lead

At OpenPayd, we are building a universal financial infrastructure to power the growth of the digital economy. Our rails-agnostic approach empowers any business to move and manage money globally - across both traditional rails and stablecoins — at scale, and in real time. The OpenPayd platform delivers a suite of banking and payments infrastructure: accounts in over 40 currencies, FX, on/off ramp, international and domestic payments, Open Banking services – all via a single API. A global network of licences alongside our best-in-class tech is why we’re trusted by 1000+ enterprise clients to process over $180bn volume annually.

How will you add value to the OpenPayd journey?

• Develop, implement, and maintain the organisation’s fraud risk management framework, including relevant policies, standards, and procedures.
• Provide second line oversight of fraud risks across the organisation, ensuring that fraud risks are appropriately identified, assessed, managed, and mitigated by first line teams.
• Conduct fraud risk assessments across products, customer segments, payment flows, and operational processes to identify vulnerabilities and emerging risks.
• Monitor fraud trends, typologies, and emerging threats within the payments and fintech industry, ensuring the organisation adapts its controls and mitigation strategies accordingly.
• Review and challenge fraud prevention and detection controls implemented by the first line, including transaction monitoring rules, fraud detection mechanisms, and preventative safeguards.
• Provide oversight and review of fraud rule implementation, tuning, and optimisation to ensure fraud controls remain effective while minimising unnecessary operational impact.
• Maintain a quality assurance and quality control framework for fraud-related activities performed by first line teams.
• Perform independent reviews of fraud alerts handling, fraud investigations, and case management processes to ensure adherence to internal policies, procedures, and regulatory expectations.
• Assess whether fraud cases are appropriately identified, escalated, investigated, and resolved, identifying areas for improvement where necessary.
• Identify control weaknesses, process gaps, and potential enhancements to strengthen the organisation’s fraud prevention and detection capabilities.
• Ensure fraud risk considerations are embedded into new products, services, payment flows, and system changes, working closely with product, technology, and operational teams.
• Maintain fraud risk reporting and dashboards, including key risk indicators and management information for senior management and relevant governance committees.
• Analyse fraud data and trends to identify systemic issues, emerging risks, and opportunities to strengthen the control framework.
• Escalate material fraud risks, control weaknesses, or emerging threats through appropriate governance forums.
• Support internal audits, regulatory reviews, and other assurance activities relating to fraud risk management.
• Maintain awareness of evolving regulatory expectations, fraud typologies, and industry best practices related to fraud risk management.
• Act as a subject matter expert on fraud risk within the second line and provide guidance to internal stakeholders on fraud risk mitigation.
• Collaborate closely with Fraud Operations, Compliance, Risk, Transaction Monitoring, Product, and Operations teams where fraud risks intersect with broader financial crime risks.

The ideal candidate will have the following:

• Experience in fraud risk management, fraud prevention, financial crime, or payments risk within fintech, banking, or payment institutions.
• Experience working within a second line of defence, risk oversight, compliance, or control testing role.
• Strong understanding of fraud typologies relevant to payments and fintech, including authorised push payment (APP) fraud and payment fraud.
• Experience developing or overseeing fraud frameworks, risk assessments, or fraud control environments.
• Experience performing quality assurance, control testing, or oversight of fraud investigations and operational fraud processes.
• Strong analytical skills with the ability to interpret fraud data, identify trends, and assess the effectiveness of fraud controls.
• Experience working with fraud detection systems, transaction monitoring tools, or fraud rule engines is considered an advantage.
• Strong stakeholder management skills and the ability to challenge operational teams constructively while maintaining collaborative working relationships.
• Excellent written and verbal communication skills, with the ability to present fraud risk insights to senior management and governance forums.
• Ability to operate in a fast-paced fintech environment and support the organisation in strengthening its fraud risk management capabilities.
• The ability to self-manage, organise competing priorities effectively and meet deadlines.
• Ability to mentor, and deliver training in a confident cohesive manner.
• You enjoy working efficiently in a fast-paced, high-volume environment and thrive when there’s ambiguity.
• Experience of working in fintech.
• Strong analytical skills, problem-solving ability and attention to detail.
• Good inter-personal skills.
• Ability to communicate both orally and in writing, and be able to present credibly and professionally to senior management.
• Able to build strong relationships with peers and business counterparts.

Our perks and benefits:

• Personal training budget - £3000
• Cycle to Work scheme
• Discounted gym membership - £80 towards any gym
• Corporate discounts via PerkBox
• Travel loan
• Company Pension plan
• Health, Dental & Life Insurance
• Friday office breakfasts, office fruits and a full bar & regular team socials
• 25 days annual leave plus the Bank Holidays, extra day off for Birthday & Social Volunteering