Senior Risk Fraud Analyst

About the position

The Senior Risk Analyst for Card Services Business will oversee risk management related to prepaid debit cards, DDA checking accounts, credit risk modeling, and KYC (Know Your Customer) compliance. This role involves identifying, assessing, and mitigating operational, financial, compliance, fraud, and credit risks while ensuring adherence to banking regulations, payment network rules, and fraud prevention best practices. The analyst will also oversee the KYC process, ensuring compliance with regulatory requirements for customer onboarding, identity verification, and transaction monitoring.

Responsibilities

• Evaluate risks related to prepaid debit cards, DDA accounts, ACH transactions, credit underwriting, and payment networks, and KYC compliance.
• Conduct risk assessments for new products, services, and business initiatives within the card services domain.
• Identify key risks such as credit risk, fraud, chargebacks, money laundering, and regulatory non-compliance.
• Develop and maintain credit risk models to assess and predict the likelihood of customer defaults, overdrafts, and repayment behavior.
• Utilize predictive analytics, machine learning, and statistical techniques (e.g., logistic regression, decision trees, neural networks) to assess creditworthiness.
• Design risk-based pricing models and credit scorecards to optimize risk-adjusted returns.
• Work with underwriting teams to refine risk acceptance criteria and credit policies.
• Monitor credit portfolio performance, track delinquency trends, and propose corrective actions.
• Monitor suspicious transactions, unusual account activity, and fraud patterns using risk analytics tools.
• Collaborate with fraud prevention teams and transaction monitoring systems to implement proactive fraud detection measures.
• Investigate fraud cases and recommend fraud mitigation strategies.
• Ensure compliance with financial regulations such as Bank Secrecy Act (BSA), Anti-Money Laundering (AML) requirements.
• Stay up to date with payment network compliance rules (Visa, NACHA for ACH transactions, etc.).
• Support audits and regulatory examinations by preparing risk assessments and compliance reports.
• Assist in drafting and maintaining credit risk, fraud risk, and operational risk policies and procedures.
• Analyze risk exposure, transaction trends, credit losses, and fraud metrics to assess business vulnerabilities.
• Prepare risk reports and dashboards for senior management and board-level committees.
• Perform quantitative and qualitative risk analysis to measure risk impact and recommend mitigation strategies.
• Develop and track key risk indicators (KRIs) to ensure timely risk identification.
• Develop and participate in risk scenario analysis and crisis management exercises.
• Respond to major fraud incidents, credit losses, security breaches, or operational disruptions to minimize financial and reputational damage.
• Collaborate with operations, compliance, finance, underwriting, and IT teams to implement risk control measures.
• Train employees and partners on risk awareness, fraud prevention techniques, credit risk assessment, and compliance obligations.
• Act as a subject matter expert (SME) for risk-related inquiries and business decisions.

Requirements

• Excellent written and verbal communication skills, with the ability to present risk findings to both technical and non-technical stakeholders.
• Strong problem-solving and critical-thinking skills, especially in identifying potential risks and designing mitigation strategies.
• Excellent teamwork and collaboration skills to work with cross-functional teams in a dynamic environment.
• Proactive and adaptable in fast-paced environments with evolving regulations.
• Highest standards of accuracy and precision; highly organized.
• Leadership skills.
• Creative thinker.
• Analytical.
• Organized.
• Highly driven.
• Business acumen.

Benefits

• Competitive 401K match.
• Generous paid time off package.
• Health Benefits.