Risk Control Manager- Fraud Risk Oversight

Klarna; Greater London; Hybrid; GBP 90,000 - 130,000; Full time

Job summary

Klarna is seeking an experienced Senior Fraud Risk professional to join the second line in London. You’ll ensure fraud risk is identified, measured, and managed within the bank’s risk appetite, guiding governance and compliance across multiple teams.

Your role involves stakeholder engagement, data interpretation, and independent risk assessment. You will work with first-line teams to challenge controls and remediation plans, and influence regulatory discussions.

Qualifications

• 7+ years in fraud or risk, with payments and lending experience (APP fraud, account takeover, synthetic identity, first-party fraud, merchant fraud).
• Experience applying risk frameworks (Three Lines of Defense, risk appetite setting, RCSA).
• Ability to review a model without building it and understand precision, recall, drift, and back-testing results.
• Ability to interpret declining fraud rate in relation to risk appetite and controls.

Responsibilities

• Define and maintain the fraud risk taxonomy, risk appetite statements, and key risk indicators.
• Own the methodology for fraud risk assessments and run periodic assessments.
• Independently test and challenge first-line fraud controls (rules engines, ML models, manual reviews).
• Challenge first-line risk acceptance decisions and remediation timelines with business owners.
• Produce fraud risk MI and dashboards for risk committees and the Board.
• Monitor emerging fraud typologies and external threat intelligence; review material incidents and control breaches.
• Provide independent opinions on new products, markets, and material changes from a fraud risk perspective.
• Maintain the fraud risk policy and ensure first line follows it.
• Track regulatory developments (PSD2/PSD3, APP fraud, AML) and support regulatory exams.
• Coordinate with Financial Crime Compliance, Legal, and Internal Audit on differing cadences.

Skills

Fraud risk management

Risk frameworks

Stakeholder management

Data analysis

Model evaluation

Regulatory knowledge

Communication to boards

Job description

Klarna, briefly At Klarna, we’re building an everyday finance network, helping over 120 million consumers across 26 countries save time and money, and worry less about their finances. Working here means taking on problems most companies never get to solve, and being hands‑on enough that the interesting part of the work lands with you, not someone else — you’ll build with AI, not watch it happen. This is the stretch zone. Come find out what you’re capable of.

Klarna, briefly At Klarna, we’re building an everyday finance network, helping over 120 million consumers across 26 countries save time and money, and worry less about their finances. Working here means taking on problems most companies never get to solve, and being hands‑on enough that the interesting part of the work lands with you, not someone else — you’ll build with AI, not watch it happen. This is the stretch zone. Come find out what you’re capable of.

About the role

Klarna is a licensed bank that lends and processes payments at scale, so fraud losses, customer friction, and growth pull against each other in nearly every product decision. This position sits in the second line fraud risk team, and its job is to make sure fraud risk is identified, measured, and managed within the bank’s risk appetite, and that the controls protecting it actually work rather than just exist. You’ll engage, challenge, support and advise the first line (fraud analysis, operations, product, and engineering). You won’t run day-to-day fraud management as that sits with the first line. Your influence will come from the quality of your judgment and the trust you build. Expect roughly 60-70% of your time to go to stakeholder management and governance, and 30-40% to data analysis. The analysis work means interpreting model outputs, loss data, and first-line reporting to form an independent view.

What You’ll Do

• You’ll define and maintain the fraud risk taxonomy, risk appetite statements, and key risk indicators.
• You’ll own the methodology for fraud risk assessments and run those assessments periodically.
• You’ll independently test and challenge first-line fraud controls, including rules engines, ML models, and manual review processes.
• You’ll challenge first-line risk acceptance decisions and remediation plans, and negotiate timelines with the business owners responsible for them.
• You’ll produce fraud risk MI and dashboards for risk committees and the Board.
• You’ll monitor emerging fraud typologies and external threat intelligence, and review and elevate material incidents, losses, and control breaches.
• You’ll provide an independent opinion on new products, markets, and material changes from a fraud risk perspective.
• You’ll maintain the fraud risk policy and check that the first line follows it.
• You’ll track regulatory developments such as PSD2/PSD3, APP fraud reimbursement rules, and local AML and fraud regulation, assess their impact, and support regulatory exams and supervisory requests.
• You’ll coordinate with Financial Crime Compliance, Legal, and Internal Audit, each of which needs different information on a different cadence.

Who You Are

• You’ve spent 7+ years in fraud or risk, and you know how fraud shows up in payments and lending, including APP fraud, account takeover, synthetic identity, first-party fraud, and merchant fraud.
• You’ve applied risk frameworks in practice, including the Three Lines of Defense, risk appetite setting, and RCSA.
• You can review a model without building it, and you know what precision, recall, drift, and back-testing results say about whether it works.
• You can tell whether a declining fraud rate reflects less fraud or a looser risk appetite.
• You’ve negotiated remediation timelines or risk acceptances with owners who have competing priorities, such as growth, customer friction, and cost.
• You write and present clearly for risk committees and the Board, including to people who aren’t fraud specialists.

Bonus points for

• You’ve worked in the first line, in fraud strategy, analytics, product, or engineering, and you know from experience what it’s like to be challenged.
• You’ve supported a regulatory exam or responded to a supervisory request on fraud risk.

Things you should know before applying

• Working together: we value co‑located teams; most teams currently meet in the office 2-3 days per week, and this varies by team and can change over time.
• Non-obvious backgrounds are welcome. Diversity of skills, perspectives and backgrounds is how we create, innovate, and disrupt like no other.
• Final compensation will be based on the candidate’s qualifications, skills, and experience.

Please include a CV in English. Concrete beats comprehensive — what you built, what it did, what it cost. Curious to learn more about Klarna and what it’s like to work here? Explore our career site!