At a Glance
- Tasks: Lead fraud risk management and protect our fintech platform from emerging threats.
- Company: Join OpenPayd, a pioneering fintech shaping the future of digital finance.
- Benefits: Enjoy a personal training budget, gym discounts, and generous annual leave.
- Other info: Collaborate with diverse teams and enjoy a vibrant workplace culture.
- Why this job: Make a real impact in a fast-paced environment while developing your career.
- Qualifications: 10-15 years in fraud risk management with strong analytical skills.
The predicted salary is between 49500 - 60500 £ per year.
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.
Responsibilities:
- 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.
Requirements:
- Minimum 10-15 years’ experience in a leadership or senior management role within fraud and risk oversight.
- 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.
- 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.
- Experience of working in fintech.
- Able to build strong relationships with peers and business counterparts.
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
Fraud Risk Manager - Fintech in London employer: OpenPayd
OpenPayd is an exceptional employer that fosters a dynamic work culture where creativity and collaboration thrive. With a strong commitment to employee growth, we offer generous benefits such as a personal training budget, comprehensive health coverage, and ample annual leave, ensuring our team members feel valued and supported in their professional journeys. Located in a vibrant area, working with us means being part of a forward-thinking company that prioritises innovation and brand consistency in the B2B marketing landscape.
StudySmarter Expert Advice🤫
We think this is how you could land Fraud Risk Manager - Fintech in London
✨Join Compliance Communities
Get involved in compliance and risk communities — both online and offline. Look for forums, LinkedIn groups, or even local meetups where compliance pros hang out. You never know who might drop a job opportunity your way!
✨Attend Industry Conferences
Keep an eye out for compliance and risk management conferences and workshops in your area. These events are a goldmine for networking, and they often have job boards or recruiters on-site looking for new talent. Plus, it’s a chance to learn what's trending in the field.
✨Leverage Your University Career Services
If you’ve recently graduated or are still studying, head over to your university's career services. Many companies, including those in compliance, actively recruit fresh talent through these services, so make sure you tap into that resource.
✨Showcase Your Knowledge Online
Start writing articles or blog posts about compliance topics that interest you. Share them on platforms like LinkedIn to demonstrate your knowledge and passion. This not only builds your presence in the field but can also catch the attention of companies like OpenPayd looking for candidates who are engaged and informed.
We think you need these skills to ace Fraud Risk Manager - Fintech in London
Some tips for your application 🫡
Show Your Understanding of Compliance:In the compliance-risk field, it's super important to showcase your understanding of regulations and risk management frameworks. Highlight any relevant coursework, certifications (like ICA or AML), or even projects that demonstrate your knowledge and commitment to this area. We want to see how you can navigate this complex landscape!
Quantify Your Achievements:When detailing your experience, try to quantify your achievements. For example, if you've previously worked on a project that improved compliance metrics or reduced risk exposure, give us the numbers! This data-driven approach really stands out to hiring managers in compliance-risk roles.
Tailor Your CV to Reflect Relevant Skills:Make sure your CV highlights skills that are particularly relevant to compliance, like attention to detail, analytical thinking, and report writing. Ensure these are easy to spot – consider using bullet points to break down your responsibilities and achievements for maximum impact!
Craft a Motivating Cover Letter:In your cover letter, let us know why you’re excited about the compliance-risk role at OpenPayd. Share what motivates you about compliance, and how you believe you can contribute to our mission. This is your chance to showcase not only your skills but also your passion for this important field!
How to prepare for a job interview at OpenPayd
✨Master the Regulations
Brush up on key compliance regulations relevant to the industry you're applying to. Familiarising yourself with specific laws and frameworks used in your field will give you an edge during technical questions. Show that you’re not just aware of them but can also apply them—think real-life scenarios!
✨Show Your Analytical Skills
Compliance roles really focus on analytical skills, so be prepared for case studies or situational questions during the interview. We've got to demonstrate how we approach risk assessments or compliance audits, possibly drawing on examples from past experiences or university projects. Bring some thoughtful case scenarios to discuss!
✨Know Your Tools
Get comfortable with commonly used compliance software and tools. Familiarity with platforms like RSA or MetricStream can really impress during your interview, as it shows you're ready to hit the ground running. If you’ve had any experience with them, make sure to highlight that!
✨Align with Company Culture
Since it's a full-time position, show your long-term commitment and interest in the company’s mission and values. Dive into how your ethics and professional philosophy align with OpenPayd’s stance on compliance. A shared vision can really resonate with interviewers looking for fit as much as skill!
