Fraud Analyst

Overview: The Fraud Analyst is at the forefront of fraud and dispute prevention within the organisation, working under the Payments Compliance Manager within the Payments team. The analyst applies a data-driven approach to identify, understand, and combat emerging fraud and dispute trends. The Fraud Analyst will assist the Payments Compliance Manager in safeguarding the company's financial interests and ensuring the trust of customers, stakeholders, and partners. They will take ownership of daily workflows, drive performance metrics, and collaborate with various teams such as Operations, Engineering, FP&A, Customer Support, Compliance, and outsourced teams.

Responsibilities:

●Daily Operations and Workflow Management:

○Take ownership of daily team workflows related to fraud and fraud prevention across the company.

○Investigate and take action on any issues found within daily monitoring, including reviewing and approving held orders and conducting transaction reviews to identify fraudulent transactions.

○Manage the detection queues and prioritise workload to address the most critical fraud cases.

○Collaborate with internal teams to resolve fraud-related inquiries and concerns efficiently.

●Fraud Investigation and Rule Management:

○Analyse fraud and dispute data to understand the root cause of issues, identifying areas of opportunity to change rules, procedures, and policies and present said changes to the Payments Compliance Manager.

○Investigate suspicious activities and fraudulent transactions and provide recommendations to eliminate fraud and improve prevention strategies.

○Create, amend, and optimise fraud rules in response to evolving behaviour.

●Risk and Chargeback Management:

○Analyse transaction data for fraud indicators and proactively manage chargebacks and related risks.

○Manage and report on Chargeback cases, including Chargeback Gurus, ensuring disputes are handled effectively.

○Investigate chargeback cases to increase win rates and report on amounts fought, won, and lost.

●Data Analysis and Reporting:

○Build and maintain reports on fraud activities, providing analysis and making strategic recommendations to the Payments Compliance Manager.

○Develop dashboards and reports using departmental KPIs and goals to track fraud and dispute metrics, operational efficiency, and performance.

○Translate fraud data into trends and insights, identifying hidden patterns and making recommendations to enhance fraud prevention measures.

○Report on daily, weekly, and monthly fraud audit operations, identifying key metrics and performance trends.

●Collaboration and Continuous Improvement:

○Work with senior analysts to contribute to quarterly programs to reduce the impact of payment fraud chargebacks.

○Partner with Product, Engineering, FP&A, Compliance, and other departments to enhance fraud detection and prevention processes.

○Collaborate with the Payments Compliance Manager to maintain and enhance internal policies, procedures, and documentation.

○Assist in periodic fraud audit operations and support fraud prevention audits.

○Recommend enhancements and process improvements based on assessing fraud systems and analytics.

●Quality Assurance and Process Optimization:

○Conduct QA audits for disputed transactions and ensure billing systems are functioning correctly.

○Review and QA billing support team responses across different communication channels, ensuring correct procedures are followed.

○Manage the fraud monitoring system, adjust rules where necessary, and ensure the accuracy of fraud alerts.

○Continuously document and record process changes, ensuring that internal fraud and dispute processes are current and aligned with best practices.

●Ad-hoc and Managerial Support:

○Handle ad hoc requests from the team and management.

○Provide periodic updates and reports to the Payments Compliance Manager and senior leadership.

○Support the Payments Compliance Manager in maintaining and enhancing internal policies and documentation.

Key Requirements:

●2+ years of experience in fraud prevention at the merchant level.

●Strong attention to detail.

●Experience with machine learning and rule-based fraud prevention tools like Cybersource, Kount, Sift, etc.

●Understanding of fraud and dispute best practices and industry standards.

●Experience managing fraud-related inquiries, performing fraud analysis, and providing actionable recommendations.

●Exposure to card schemes, disputes, TC40's and dispute prevention tools such as Ethoca and Verifi.

●Proficiency in fraud-related data discovery and report building to align with departmental KPIs.

●SQL proficiency.

●Exposure to reporting dashboards such as Looker, Data Studio, Tableau etc is desired.