Fraud Operations Analyst
Richmond, VA /
Risk & Underwriting /
/ Remote
About Cherry
Started in 2019, Cherry is an extremely fast growing FinTech that has built the simplest, fastest, and most inclusive Buy Now, Pay Later solution for medical practices such as dentists, medical aesthetics, veterinarians etc.
Cherry enables medical practices to treat more patients by making their services more financially accessible.
Cherry was founded and is led by Stanford entrepreneurs with a previous successful exit and backed by an all-star lineup of investors such as Kleiner Perkins and DCM.
Cherry is looking for a highly motivated Fraud Operations Analyst with a broad skill set and an entrepreneurial streak to come help us grow! This person will work inside of Cherry’s Risk Operations group to administer Cherry's Know Your Customer and fraud prevention programs. This is a tremendous opportunity to help us continue our work to maintain and improve a best in class fraud prevention strategy. A great candidate is experienced and skilled in conducting independent direct fraud investigations and decisions in the lending space. You will know what software you need to do your job and how to use it, while being able to learn and utilize the existing package of software options at Cherry.
Key Responsibilities
- Conduct Cherry's Know Your Customer identity reviews
- Identify, investigate and resolve first and third party concerns, document manipulation cases, and fraud claim disputes on applications and accounts
- Perform daily funding reviews of contracts up to $25,000 to identify fraud or misrepresentation, mitigate risk exposure, while escalating urgent issues to management’s attention
- Work with the Risk team to improve our flags for suspicious contracts and conduct appropriate investigations both at the patient and practice level
- Review alerts/reports to detect Suspicious Activity and file required reports (SARS) as appropriate.
- Provide internal support to other business units on fraud-related issues
- Communicate technical issues and potential solutions to the appropriate audiences. Help to define and establish policies and procedures for fraud review, as well as partner with Customer Support to establish similar policies and procedures around fraud interactions
- Drive innovation by making recommendations to improve current operational procedures to increase efficiency and reduce false positives. Perform ad hoc practice portfolio investigations following fraud claims
- Get an inside and out understanding of Cherry's existing Know Your Customer and fraud prevention process. Identify gaps in existing fraud prevention strategy, build out a plan on how to remediate, and execute it
- Collaborate with Credit Strategy teams to holistically assess the impact of new fraud strategies
- Effectively engage Legal and Compliance teams to ensure proper development of fraud strategies and treatments
Experience and Education
- B.S./B.A
- 3+ years of applicable experience in Financial Services with at least two years dedicated to fraud prevention
- Mastery of a variety of different fraud prevention and identity verification software
- Ability to drive and conduct Fraud risk assessments in a lending environment, preferably in an online lending/startup environment
Benefits
- Health, Dental, Commuter, 401k Benefits
- Compensation: Highly competitive salary and equity package - all of our employees receive equity in Cherry!
- Fully remote
- Fun, diverse, open-minded coworkers
$70,000 - $90,000 a year
Cherry provides equal employment opportunity (EEO) to all persons regardless of age, color, national origin, citizenship status, physical or mental disability, race, religion, creed, gender, sex, sexual orientation, gender identity and/or expression, genetic information, marital status, status with regard to public assistance, veteran status, or any other characteristic protected by federal, state or local law.
