Fraud Investigator

Koalafi•Richmond, VA

3d•Hybrid

About The Position

At Koalafi, we believe in a world where no one has to put an important purchase on hold. That’s why we’re making it easier for more people to pay for big purchases over time. Retailers across the country rely on us to offer flexible lease-to-own financing to their non-prime consumers, while increasing sales and strengthening customer loyalty. Their 2M+ customers love us because we provide a flexible way for them to make payments and give them an opportunity to improve their credit. Our 200+ Koalafi teammates enjoy inspiring and challenging work that accelerates their careers. Koalafi partners with thousands of merchants across the country to offer point-of-sale financing and receives over a million customer applications per year. As a Fraud Investigator, you will monitor and research risk signals for both customers and merchants that could indicate some form of fraud is being committed. This includes a risk assessment during onboarding of new merchants, ongoing monitoring/review of merchant performance, and review of applications flagged for potential fraud. As a Fraud Investigator, you will look for systemic patterns in suspicious customer and merchant behavior and conduct deep dives/investigations to determine legitimacy. This includes identity theft, synthetic IDs, manipulated IDs, taking advantage of vulnerable persons, and taking advantage of family or friends. Fraud Investigators have several tools available to assist in their research, such as application data, internal system of record data, internet search data, and third-party fraud prevention tools. You will be expected to use these tools and proactively call potential fraud victims to reach as accurate a conclusion as possible.

Requirements

2+ years of relevant experience in fraud detection, investigation, or related financial services experience
Strong pattern recognition and attention to detail, with a strong commitment to quality, accuracy, consistency, and confidentiality
Ability to conduct thorough research using multiple data sources
Experience documenting processes, procedures, and investigation findings
Excellent verbal and written communication skills
Strong interpersonal skills; you’re comfortable having difficult conversations with merchants
Strong sense of ownership and motivation to stop fraudsters
Proficiency in tools like Microsoft Excel and Word; familiarity with fraud databases or investigative platforms is a plus
Ability to work independently and efficiently, both in-person and on work from home days
Experience working in a fast-paced, dynamic environment, with strong prioritization skills and ability to handle multiple responsibilities at once
High school diploma, GED, or equivalent certification

Nice To Haves

Bilingual (English/Spanish) preferred

Responsibilities

Identify systemic patterns in suspicious customer and merchant behavior and conduct investigations
Review and evaluate all new merchant partners during onboarding to ensure we establish partnerships with properly licensed merchants that align with our intent
Manage inbound fraud claims and perform ad hoc research into uncommon scenarios that could indicate foul play
Leverage tools such as application data, internal system of record data, internet search data, and third-party fraud prevention tools to reach accurate investigation conclusions
Collaborate across multiple departments, such as Sales, Operations, Fraud Analytics, and Compliance