Senior Fraud Monitoring Specialist

2 days ago

Toronto, Ontario, Canada VersaPay Full time
About Versapay

Versapay is a leading provider of collaborative accounts receivable solutions. Our innovative platform empowers businesses to streamline their billing and payment processes, improving efficiency, accelerating cash flow, and enhancing the customer experience.

Our Values
  • We prioritize customer satisfaction and strive to deliver exceptional service.
  • We foster a culture of collaboration and teamwork, supporting each other in our endeavors.
  • We value diversity and inclusivity, promoting a workplace where everyone feels welcome and valued.
  • We continuously seek to improve and innovate, staying ahead of the curve in our industry.
  • We take ownership of our work and are accountable for our actions.
Job Summary

We are seeking a highly skilled Senior Fraud Monitoring Specialist to join our team. In this role, you will play a critical part in safeguarding our organization against financial risks, fraud, and suspicious activities. Your responsibilities will include analyzing customer accounts, monitoring AML and fraud, collaborating with cross-functional teams, leading projects, and continuously improving our risk management strategies.

Key Responsibilities
  • Transaction Monitoring: Conduct in-depth analysis of customer accounts to identify potential risk areas.
  • Fraud Prevention: Collaborate closely with product, finance, and software engineering teams to assess fraud risk on credit card and ACH payments. Provide input for the development, implementation, and documentation of innovative fraud prevention strategies using extensive transactional data analysis.
  • Process Enhancement: Contribute to the implementation of comprehensive fraud detection tools and strategies and business rules that balance fraud loss, execution cost, and customer experience. Contribute to the refinement of policies and procedures manuals.
  • Reporting: Prepare and present detailed reports to management on fraud and risk.
  • Cross-Functional Collaboration: Participate in cross-functional teams supporting existing and emerging payment products. Establish strong relationships with sales, customer support, and product teams to garner support for risk management efforts.
  • Project Leadership: Lead collaborative efforts with internal and external teams to develop and implement effective risk management solutions. Regularly test transaction monitoring systems to ensure their optimal performance and identify vulnerabilities.
  • Training: Stay updated on relevant laws and regulations pertaining to fraud and risk management. Provide support in onboarding, training, and mentoring of new team members as the team expands. Assist in addressing escalations from customers, banks, third-party vendors, or any other related issues.
Requirements
  • Extensive Experience: A minimum of 5 years in risk management, encompassing traditional and alternative payment methods. Proficiency in utilizing and deployment of industry-standard risk management tools such as Lexis/Nexis, Salesforce, Tableau, G2, CyberSource, Feature Space, etc. Hands-on experience in AML transaction monitoring and mitigating online fraud, including account takeover, phishing, and online card testing.
  • Diverse Knowledge: In-depth understanding of AML, card-not-present fraud schemes, risk prevention methods, and detection tools for digital, virtual, and physical goods.
  • Analytical Acumen: Capable of analyzing large transactional datasets, interpreting complex situations, and making sound decisions under pressure. Proficient in account and portfolio-level risk management principles.
  • Execution Focus: Highly motivated with a proactive approach and strong prioritization.
  • Curiosity: Inquisitive nature with a commitment to understanding processes and identifying risk factors and trends through technical data analysis and statistical interpretation.
  • Adaptability: Agile in the face of ambiguity and complexity, displaying flexibility and an open-minded approach to new challenges. Capable of seamlessly transitioning between tasks and adapting to changing circumstances.
  • Preferred Qualifications:
  • Leadership Experience: Previous experience in a leadership role is a strong asset. Demonstrated ability to lead and guide teams in the field of risk management is highly desirable.
  • Industry Certifications: Possession of relevant industry certifications, such as Certified Fraud Examiner (CFE) or Certified Anti-Money Laundering Specialist (CAMS), is a plus.

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