Head of Fraud and Risk Oversight

Job description

**Who are we?** At OpenPayd, we are building a universal financial infrastructure to power the growth of the digital economy. Our rails-agnostic approach empowers any business to move and manage money globally - across both traditional rails and stablecoins — at scale, and in real time.​ The OpenPayd platform delivers a suite of banking and payments infrastructure: accounts in over 40 currencies, FX, on/off ramp, international and domestic payments, Open Banking services – all via a single API. A global network of licences alongside our best-in-class tech is why we're trusted by 1000+ enterprise clients to process over $180bn volume annually. ### How will you add value to the OpenPayd journey? - Develop, implement, and maintain the organisation’s fraud risk management framework, including relevant policies, standards, and procedures. - Provide second line oversight of fraud risks across the organisation, ensuring that fraud risks are appropriately identified, assessed, managed, and mitigated by first line teams. - Conduct fraud risk assessments across products, customer segments, payment flows, and operational processes to identify vulnerabilities and emerging risks. - Monitor fraud trends, typologies, and emerging threats within the payments and fintech industry, ensuring the organisation adapts its controls and mitigation strategies accordingly. - Review and challenge fraud prevention and detection controls implemented by the first line, including transaction monitoring rules, fraud detection mechanisms, and preventative safeguards. - Provide oversight and review of fraud rule implementation, tuning, and optimisation to ensure fraud controls remain effective while minimising unnecessary operational impact. - Maintain a quality assurance and quality control framework for fraud-related activities performed by first line teams. - Perform independent reviews of fraud alerts handling, fraud investigations, and case management processes to ensure adherence to internal policies, procedures, and regulatory expectations. - Assess whether fraud cases are appropriately identified, escalated, investigated, and resolved, identifying areas for improvement where necessary. - Identify control weaknesses, process gaps, and potential enhancements to strengthen the organisation’s fraud prevention and detection capabilities. - Ensure fraud risk considerations are embedded into new products, services, payment flows, and system changes, working closely with product, technology, and operational teams. - Maintain fraud risk reporting and dashboards, including key risk indicators and management information for senior management and relevant governance committees. - Analyse fraud data and trends to identify systemic issues, emerging risks, and opportunities to strengthen the control framework. - Escalate material fraud risks, control weaknesses, or emerging threats through appropriate governance forums. - Support internal audits, regulatory reviews, and other assurance activities relating to fraud risk management. - Maintain awareness of evolving regulatory expectations, fraud typologies, and industry best practices related to fraud risk management. - Act as a subject matter expert on fraud risk within the second line and provide guidance to internal stakeholders on fraud risk mitigation. - Collaborate closely with Fraud Operations, Compliance, Risk, Transaction Monitoring, Product, and Operations teams where fraud risks intersect with broader financial crime risks. ### The ideal candidate will have the following: - Minimum 10–15 years’ experience in a leadership or senior management role within fraud and risk oversight - Experience in fraud risk management, fraud prevention, financial crime, or payments risk within fintech, banking, or payment institutions. - Experience working within a second line of defence, risk oversight, compliance, or control testing role. - Strong understanding of fraud typologies relevant to payments and fintech, including authorised push payment (APP) fraud and payment fraud. - Experience developing or overseeing fraud frameworks, risk assessments, or fraud control environments. - Experience performing quality assurance, control testing, or oversight of fraud investigations and operational fraud processes. - Strong analytical skills with the ability to interpret fraud data, identify trends, and assess the effectiveness of fraud controls. - Experience working with fraud detection systems, transaction monitoring tools, or fraud rule engines is considered an advantage. - Strong stakeholder management skills and the ability to challenge operational teams constructively while maintaining collaborative working relationships. - Excellent written and verbal communication skills, with the ability to present fraud risk insights to senior management and governance forums. - Ability to operate in a fast-paced fintech environment and support the organisation in strengthening its fraud risk management capabilities. - The ability to self-manage, organise competing priorities effectively and meet deadlines. - Ability to mentor, and deliver training in a confident cohesive manner. - You enjoy working efficiently in a fast-paced, high-volume environment and thrive when there's ambiguity. - Experience of working in fintech. - Strong analytical skills, problem-solving ability and attention to detail. - Good inter-personal skills. - Ability to communicate both orally and in writing, and be able to present credibly and professionally to senior management. - Able to build strong relationships with peers and business counterparts. ### Our perks and benefits: - Personal training budget - £3000 - Cycle to Work scheme - Discounted gym membership - £80 towards any gym - Corporate discounts via PerkBox - Travel loan - Company Pension plan - Health, Dental & Life Insurance - Friday office breakfasts, office fruits and a full bar & regular team socials - 25 days annual leave plus the Bank Holidays, extra day off for Birthday & Social Volunteering