Fraud Analyst

At Verto, we’re passionate about helping businesses in Emerging Markets reach the world. What first started life as a FX solution for trading Nigerian Naira has now become a market-leading platform, changing the way thousands of businesses transfer money in and out of Emerging Markets.

We believe that where you do business shouldn’t determine how successful you are, or your ability to scale. Millions of companies a day have to juggle long settlement periods, high transaction fees and issues accessing liquidity in order to trade with African businesses. We’re on a mission to change this by creating equal access to easy payment and liquidity solutions that are already a given in developed markets.

We’re not alone in realising the opportunity and need to solve for emerging markets. We’re backed by world-class investors including Y-Combinator, Quona and MEVP, power payments for some of the most disruptive start-ups in the world and have a list of accolades from leading publications including being voted ‘Fintech Start Up of the Year’ at Fintech Awards London 2022.

Each year we process billions of dollars of payments and provide companies with solutions which help them to save money, automate processes and grow, but we’re only just getting started.

We’re seeking a driven and results-oriented Fraud Analyst / Associate (Specialising in Cards and Payment Processes) who is excited to tackle fraud prevention in global payment systems. In this role, you will be expected to achieve key milestones such as enhancing fraud detection mechanisms and reducing fraud-related losses by a measurable percentage.

You will play a pivotal role in our Fraud and Risk Management team, leveraging your expertise in cards and payment processes to drive measurable impact and safeguard our payment operations.

In this role you will:

• Develop and implement fraud detection strategies across card and payment processes to reduce fraud incidents within your first year.
• Proactively monitor and analyse transaction data to identify suspicious patterns, trends, and anomalies that signal potential fraudulent activities.
• Collaborate with internal teams to optimise fraud prevention systems and response protocols.
• Use advanced fraud detection tools and machine learning algorithms to reduce false positives and improve the accuracy of fraud detection.
• Provide insights and actionable recommendations based on data analysis to mitigate fraud risks while improving the customer experience.
• Lead investigations into payment fraud cases, working closely with law enforcement and external partners when necessary.
• Support the automation of fraud management processes, streamlining reporting and case resolution to enhance operational efficiency.
• Stay up to date with industry best practices and emerging trends in card fraud prevention, payment security, and fraud detection technologies.
• Educate internal teams on fraud risks and ensure adherence to risk management protocols across the company.

You’ll be responsible for:

• Monitoring and managing fraud detection systems for card payments and cross-border transactions, ensuring fraud-related KPIs are met.
• Conducting in-depth fraud investigations and compiling detailed reports on fraud incidents, recovery actions, and outcomes.
• Regularly updating fraud detection rules and thresholds to stay ahead of evolving fraud tactics and schemes.
• Supporting the development and enhancement of fraud prevention policies and processes to protect Verto and its clients from financial losses.
• Assisting in the continuous improvement of fraud monitoring tools and collaborating with the engineering team on system enhancements.

Chargeback Management:

• Investigate and manage the end-to-end chargeback process, ensuring all disputes are handled efficiently and in line with industry regulations.
• Work closely with card networks (Visa/Mastercard) and merchants to ensure accurate and timely defence submissions.
• Analyse chargeback trends, providing insights and recommendations to reduce future chargebacks and mitigate risk.
• Conduct regular analysis of payment trends, chargeback volumes, and fraud alerts to provide data-driven insights.
• Prepare comprehensive reports for senior management on payment performance, chargebacks, and fraud detection.

Pay-by-Link Payments:

• Support and monitor pay-by-link payment methods, ensuring seamless processing and enhanced fraud prevention.
• Collaborate with internal teams and the Compliance department to ensure the security of pay-by-link transactions, particularly through 3D Secure and other fraud prevention measures.
• Stay informed on industry best practices and competitor developments in pay-by-link services, providing recommendations for process improvements.

Skills and Qualifications:

• 2-3 years of experience as a Fraud Analyst / Associate, with a focus on cards and payment processes.
• Proven experience in chargeback management, preferably within a UK cross-border payments firm or a similar financial services environment.
• Hands-on experience with Visa and Mastercard fraud prevention systems, particularly TC40 and SAFE alerts.
• Knowledge of pay-by-link payment solutions, ideally with experience gained at a competitor or within a similar organisation.
• Familiarity with 3D Secure and other fraud prevention tools and protocols.
• Strong analytical skills, with experience in data analysis, fraud detection, and identifying trends.
• Strong knowledge of fraud patterns and tactics in card payments, online transactions, and cross-border payments.
• Proficient in fraud detection tools, data analysis, and payment monitoring systems.
• Experience with data analysis tools (such as SQL), and machine learning models used in fraud detection is an advantage.
• Strong problem-solving and analytical skills, with the ability to make data-driven decisions under pressure.
• Excellent communication skills and the ability to work collaboratively with cross-functional teams.