Fraud Analyst

Weave; Lehi (UT); Hybrid; USD 70,000 - 110,000; Full time

Benefits offered by this job

Hybrid work model

Job summary

Weave in Lehi, UT is seeking a Fraud Analyst for its Payments Risk Management Team to safeguard our business from fraudulent activity. This hybrid role focuses on identifying, investigating, and preventing high-value transaction fraud and risky merchant behavior.

As the inaugural dedicated analyst, you will collaborate with Risk Management to develop scoring models and deploy monitoring tools, while enhancing the fraud program with new technologies. Employment is contingent on a background check.

Qualifications

• 3-5 years in financial investigations, payment fraud analysis, or a closely related field.
• Strong analytical skills to identify patterns, trends and anomalies in financial data.
• Problem-solving skills with the ability to investigate complex financial issues.
• Meticulous attention to detail to ensure accurate analysis of suspicious activity.
• Excellent written and verbal communication for technical and non-technical audiences.
• Proficiency with technology and willingness to learn new fraud detection tools.

Responsibilities

• Analyze high-value transactions for fraud and identify red flags for further investigation.
• Investigate fraudulent and high-risk transactions and collaborate with internal teams and merchants.
• Monitor merchant accounts for suspicious activity and detect changes in patterns.
• Partner with Risk Management to develop a merchant risk assessment framework.
• Help build and optimize fraud management tools and processes.

Skills

Analytical thinking

Data querying

Fraud detection

Communication skills

Tools

Stripe

SQL

Snowflake

Sigma

Job description

Our Payments Risk Management Team is seeking a highly motivated and detail-oriented Fraud Analyst to be the cornerstone of our fraud management program. In this role, you will play a critical part in safeguarding our business from financial losses due to fraudulent activity. You will implement and execute strategies to identify, investigate, and prevent high-value transaction fraud, suspicious merchant behavior, and other financial threats.

This position will be hybrid based out of our Lehi, UT HQReports to: Payments Risk Manager

What You Will Own

• High-Value Transaction Scrutiny: Analyze high-value transactions for potential fraud, employing keen analytical skills to identify red flags and escape suspicious activity for further investigation.
• Fraudulent Transaction Investigation: Conduct comprehensive investigations into fraudulent and high-risk transactions, utilizing your analytical expertise to uncover patterns and identify the root cause. Collaborate effectively with internal teams and merchants to resolve these cases decisively.
• Suspicious Merchant Activity Detection: Proactively monitor merchant accounts for anomalous, suspicious, and prohibited behavior. This includes identifying changes in transaction patterns (bank account alterations, payment volume fluctuations, high dispute rates, sudden average transaction amount shifts) and taking appropriate action.
• Merchant Risk Assessment in Collaboration with Risk Management: Partner with the Risk Management team to develop and implement a risk assessment framework to evaluate merchant activity and pinpoint potential fraud risks. This may involve constructing scoring models or integrating automated monitoring tools.
• Fraud Management Program Development in Partnership with Risk Management: As our inaugural dedicated Fraud Analyst, you will be a key figure in building and optimizing our fraud management tools and processes, working collaboratively with the Risk Management team. You will take the initiative to research new technologies and strategies to enhance our fraud detection capabilities.

What You Will Need to Accomplish the Job

• 3-5 years of experience in financial investigations, payment fraud analysis, or a closely related field is required.
• Strong analytical skills with the ability to identify patterns, trends, and anomalies in financial data are essential.
• Demonstrated problem-solving expertise, with a talent for investigating complex financial issues, drawing logical conclusions, and forming effective solutions.
• Meticulous attention to detail to ensure accurate analysis and identification of suspicious activity.
• Excellent written and verbal communication skills to present complex financial information to both technical and non-technical audiences.
• Proficiency with technology, with a willingness to learn new fraud detection and investigation tools, and a desire to adapt to evolving fraud trends.
• Strong sense of initiative and proactiveness. You are a self-starter with the ability to identify areas for improvement and propose innovative solutions.

What Will Make Us Love You

• This role is ideal for a highly motivated and results-oriented individual with a passion for safeguarding financial systems.
• You have previous experience creating and running data queries.
• You have experience with Stripe
• Beginner-Intermediate experience in SQL proficiency
• You can create and run reports in Snowflake
• You can create and run reports in with Sigma
• You are a critical thinker who thrives in a fast-paced environment and enjoys a challenge.
• Your strong work ethic, collaborative spirit, and dedication to continuous learning will be instrumental in building a robust and effective fraud management program for our company.

Employment with Weave is contingent upon the successful completion of a background check, conducted in accordance with applicable laws.

At Weave, we use Artificial Intelligence (AI) tools to help us work more efficiently and create a smoother candidate experience. AI may assist with things like writing job descriptions, scheduling interviews, or reviewing applications against job-related criteria. For additional information, please review the External AI Policy Statement available on our Careers page.

Weave is an equal opportunity employer that is committed to fostering an inclusive workplace where all individuals are valued and supported. We welcome anyone who is hungry to learn, problem-solve and progress regardless of race, color, ancestry, religion, sex, national origin, sexual orientation, age, citizenship, marital status, disability, gender identity, veteran status, or other applicable legally protected characteristics. If you have a disability or special need that requires accommodation, please let us know.