Director, Risk & Fraud

WAVE; Toronto; On-site; CAD 120,000 - 160,000; Full time

Job summary

A fintech company in Toronto is seeking a Director of Fraud & Risk to safeguard its financial ecosystem across Canada and the US. This senior role involves managing fraud and risk teams, developing strategies to mitigate financial crimes, and leading technology initiatives. Candidates should have over 10 years of experience in relevant roles, a Bachelor's degree, and strong analytical skills. This position promotes diversity and inclusivity in its hiring process.

Qualifications

• 10+ years of experience in fraud or risk roles within fintech, payments, or banking.
• Experience with chargeback operations.
• Strong analytical and reporting skills.

Responsibilities

• Define and monitor KPIs for the risk and fraud teams.
• Oversee a team of risk analysts and managers.
• Manage the risk and fraud department's budget.

Skills

Fraud management expertise

Risk management experience

Analytical skills

Leadership experience

Knowledge of AI/ML technologies

Education

Bachelor's Degree in Business, Finance, or Risk Management

Tools

Alloy

Plaid

Job description

At Wave, we help small businesses to thrive so the heart of our communities beats stronger. We work in an environment buzzing with creative energy and inspiration. No matter where you are or how you get the job done, you have what you need to be successful and connected. The mark of true success at Wave is the ability to be bold, learn quickly, and share your knowledge generously.

About the Role

The Director, Fraud & Risk is a senior leader responsible for safeguarding Wave’s financial ecosystem across Canada and the US, spanning payments, payroll, invoicing, and chargebacks. This role is pivotal in proactively identifying, mitigating, and managing financial and reputational risks. Reporting to the Chief Technology Officer, this leader will develop and execute strategies to protect our platform, customers, and business from financial crimes, operational risks, and regulatory threats, driving responsible growth in partnership with the compliance and legal teams.

Responsibilities

• Define and monitor key performance indicators for the risk and fraud teams, providing regular reports and maintaining accurate loss forecasts.
• Oversee a team of risk analysts, team leads, and managers, fostering a high-performing, strategic, and operationally excellent risk team.
• Own and evolve Wave’s enterprise fraud and risk management framework, including long-term strategy and annual roadmap.
• Manage the risk and fraud department’s budget, ensuring resource allocation aligns with financial goals.
• Design, implement, and refine risk and fraud policies to mitigate exposure across all business lines.
• Establish procedures and collaborate with product teams to detect, prevent, and respond to fraud.
• Develop strategies, policies, and processes with internal partners to minimize fraud, chargebacks, and shrinkage.
• Create risk and underwriting performance reports to improve decision accuracy and performance.
• Partner with customer experience teams to review escalations and manage recourse programs.
• Monitor industry trends to ensure compliance and competitiveness.
• Provide oversight on complex or high-risk escalations, ensuring alignment with policies and business goals.
• Lead projects to improve and streamline risk functions, acting as a subject matter expert.
• Lead technology and AI initiatives to enhance outcomes for employees and customers.
• Collaborate with Legal, Compliance, Finance, Product, and Engineering teams to embed risk mitigation in product design and customer experience.
• Manage vendor relationships and the roadmap for risk tools such as onboarding verification, transaction monitoring, and chargeback mitigation.
• Lead incident response and root cause analysis for major fraud or risk events.
• Promote a risk-aware culture through education and influence.
• Ensure compliance with regulatory requirements and industry standards.

Qualifications

• Bachelor's Degree in Business, Finance, Risk Management, or a related field.
• 10+ years of experience in fraud or risk roles within fintech, payments, or banking, including leadership experience.
• Experience with Alloy, Plaid, and credit bureau vendors.
• Certified Fraud Examiner (CFE) or similar certification.
• Extensive experience with fraud and risk management in Canadian and financial ecosystems, including regulatory knowledge.
• Experience with chargeback operations.
• Understanding of AI / ML risk detection technologies.
• Experience scaling risk functions.
• Strong analytical, reporting, and KPI development skills.
• Deep knowledge of fraud prevention tools, onboarding risk, and transaction monitoring.

At Wave, we value diversity of perspective. Your unique experience enriches our organization. We welcome applicants from all backgrounds. Let’s talk about how you can thrive here! Wave is committed to providing an inclusive and accessible candidate experience. If you require accommodations during the recruitment process, please let us know by emailing us. We will work with you to meet your needs.