Fraud Operations Analyst

Salt Lake City
Fraud
Full-time
Varo is on a mission to redefine banking so it's easy for everyone to make smart choices with their money. Our app offers bank accounts and high-yield savings accounts that don’t cost a thing, tools to help you manage your money and save automatically, and invitation-only personal loans at competitive rates. On the contrary, traditional banks charge fees, offer next-to-nothing savings rates, and don’t work with their customer’s best interests in mind.

Varo is distinct from other fintechs: With preliminary approval for a bank charter from the Office of the Comptroller of the Currency (OCC), we're on our way to becoming the first mobile-centric national bank in the country. Our unique team combines the best people in tech and banking, and we’re wildly passionate about keeping our customers happy by helping them manage and grow their money. Based in San Francisco and privately held, Varo has raised $178M to date, led by Warburg Pincus and The Rise Fund / TPG Growth.

ABOUT THE FRAUD TEAM
We are currently growing our ever expanding fraud team and are seeking fraud professionals to help grow a fully functional mobile bank. As a core member of the team you will have a unique opportunity to learn, design, and build something amazing supporting seamless and frictionless consumer experience, while reducing risk exposures, financial losses, and the protection and security of user financial information. We are searching for highly engaged, inspired professionals who are excited to creatively solve problems, build sustainable cross functional partnerships, promote and contribute to the organization's value proposition within a rapidly growing financial technology start-up environment.

The Fraud Operations Analyst role supports the strategic development and execution of early upstream fraud detection, prevention, mitigation and investigative analysis consistent with established risk model procedures, while supporting customer growth and reduced friction. Qualified candidates would offer the following skills; basic business logic with recognized experience in a financial institution environment, fraud detection and mitigation efforts, technical knowledge to include use of 3rd party tools, dynamic investigative practices, and an ability to assess data analytics supporting account and transaction level review and appropriate decisions. The position plays an important role as part of daily review of multi transaction types, conducting research, while making appropriate notes supporting next step decisions.

Candidate should have ability to develop and sustain internal cross functional relationships, while also engaging with financial industry partners and law enforcement.  Below summary will outline additional responsibilities.

We’re Looking For A Fraud Operations Analyst Who Will:

    • Review transaction level reporting and take appropriate account action, to include conducting detailed research on linked accounts creating similar fraud risks. Identify and compile trends allowing for detection model adjustments and operational efficiency gains.  Summarize and document findings for senior leadership.
    • Support operations group with applicable reviews and provide valued insight around pending referrals on account applications with an emphasis towards managing risks, reduced false positives, while growing account base. Identify trends allowing for detection model adjustments and operational efficiency gains.  
    • Drive improved performance on established Fraud KPI’s supporting achieving desired function objectives.  
    • Support assessment of mobile deposit functionality against existing operating practices and determine opportunities to enhance processes and practices, while maintaining risk tolerance levels. Capture trends and support recommendations for enhancing best practices and operating standards.  
    • Act as designed POC for resolving customer inquiries related to adverse account actions and assist with appropriate and timely decisions in respect to maintaining relationship and/or parting ways, consistent with the Varo user agreement, regulatory and historical account activity.
    • Review daily risk rules alerts and take appropriate account level actions. Communicate and drive awareness of current fraud trends and provide recommendations regarding fraud risk model revisions.Provide feedback regarding active trends and observations, while sharing critical analytical analysis results, articulate recommendations for forward thinking solutions.
    • Demonstrate flexibility and work collaboratively to deliver high quality and timely service.
    • Manage multiple tasks effectively by balancing high productivity, sense of urgency and delivering quality work product.

Previous Experiences That Will Help You Be Great:

    • Passion for promoting a culture of customer first.
    • Ability to multitask, establish priorities with an attention to detail in a fast-changing environment.
    • Basic knowledge of banking and loan products and financial industry regulations.
    • Excellent communication skills both verbal and written, proven creative problem-solving skills.
    • Collaborative spirit and relational work style with proven operating success in a diverse team environment.
    • Positive attitude, enthusiasm, professionalism and strong work ethic with high-level of integrity and ethics.
    • Experience working with Falcon Alerts, highly desired.

Other nice to haves:

    • Deep analytical skills, including experience with applications; SQL, Tableau, Looker, Python, Google Sheets, advanced linking tools such as Maltego & I2 with an ability to break down and format large data sets.
    • Conduct high quality assessment of SAR/UAR reporting and prepare filing with appropriate regulatory agencies.
    • Advanced writing skills with experience in creating operating policies & procedure documents.
    • Interviewing experience with recognized certifications from leading industry organization. [W/Z, CFI, CFI]