Risk Prevention Analyst

Velera-posted 2 months ago
$60,500 - $77,100/Yr
Full-time • Mid Level
1,001-5,000 employees
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The Risk Prevention Analyst is responsible for providing operational risk assessments leveraging fraud mitigation tools, focusing on analysis, design, and artificial intelligence (AI) technology associated with fraud mitigation strategies, call queue creation, monitoring, support, and management using quantitative methods to review data and increase efficiency, productivity, effectiveness and savings. Seeking a skilled Risk Analyst who will provide support for external clients and internal staff on fraud detection and prevention matters, inquiries, and solutions to meet client and business needs. Additionally, the role involves writing rules and creating custom solutions for clients, monitoring fraud for their client group, identifying risk exposure based on fraud trends and data, and determining mitigation measures. This role involves direct interaction with senior-level management at the financial institution and within Velera, as well as regular coordination with the Fraud Detection Work Center (FDWC), Velera Service Centers, multiple internal departments, and 3rd party vendor personnel.

  • Develop and implement Fraud strategies leveraging transaction data (credit/debit cards), machine learning models and advanced analytics tools to mitigate fraud losses and maintain superior customer experience.
  • Manage and optimize existing strategies effectively controlling risks due to first party and third-party fraud.
  • Design, test and understand the risk and customer experience trade-offs.
  • Coordinate the Risk Analytics team's tasks and ensure adherence to established turnaround times and SLAs; manage projects assigned to the team; Ensure quality of all team outputs.
  • Maintain awareness of member client fraud trends and suggest internal procedure changes to Risk Analytics Manager to remain efficient.
  • Supervise department workflow to ensure time-sensitive functions meet department standards.
  • Maintain productive relationships with all internal stakeholders including Fraud Operations, Risk Management, Product, Retail, Finance as well as external vendors.
  • Advise internal contacts on sensitive issues and recommend client procedures and new product developments.
  • Create and deliver BI reporting to develop thorough reporting for senior leadership, boards, and examiners.
  • Work closely with a designated client list to ensure efficient and effective fraud mitigation through various communication channels such as calls and emails.
  • Use advanced business, analytical and technical knowledge to participate in discussions with cross functional teams to understand and collaborate on business objectives and influence solution strategies.
  • Translate recommendations into communication materials to effectively present to colleagues for peer review and mid-to-upper-level management.
  • Incorporate visualization techniques to support the relevant points of the analysis and ease the understanding for less technical audiences.
  • Identify and gather the relevant and quality data sources required to fully answer and address the problem for the recommended strategy through testing or exploratory data analysis (EDA).
  • Integrate/transforms disparate data sources and resolve appropriate data hygiene techniques to apply.
  • Consult external clients and internal staff on fraud detection and prevention matters, inquiries, and solutions to meet client and business needs.
  • Write rules, build custom solutions for clients, and monitor fraud for their client group.
  • Identify risk exposure associated with fraud trends that have the potential to cause financial losses and poor member experience in client portfolios to determine if mitigation measures are necessary.
  • Monitor and analyze portfolio performance on an ongoing basis.
  • Identify trends and conduct root-cause analysis to isolate key performance drivers and combine the insights with a data-driven approach to develop fraud defenses.
  • Leverage knowledge of fraud prevention tools to consult with clients on their fraud and risk goals, review key fraud performance metrics, consult on available fraud tools, and recommend strategic means to minimize risk exposure and improve member experience.
  • Collaborate with other internal teams to serve as client advocate for fraud and risk items and special projects or mitigations.
  • Ensure risks associated with business activities are effectively identified, measured, monitored, and controlled in accordance with risk and compliance policies and procedures.
  • Report risks identified to the appropriate team and/or management.
  • Manage, monitor and report risks within your work area's scope, including, but not limited to Information Security risks.
  • Bring innovative/out of the box thinking to solve problems and make recommendations.
  • Remain current with industry and client fraud trends.
  • Bachelor’s degree in Business, Statistics, Mathematics, Computer Science, Engineering or Economics or related field or combination of education and experience required.
  • Five (5) years within the financial service industry required.
  • Three (3) years professional experience in risk analytics, mitigating risk and/or fraud services required.
  • Payments processing system knowledge preferred.
  • Experience with Fraud Detection Work Center and/or FDR system experience required.
  • Strong analytical and problem-solving skills.
  • Deep experience working with fraud detection strategies, rules tuning, and fraud modeling.
  • Strong proficiency with SQL; Ability to analyze large, complex datasets and derive actionable insights.
  • Experience with fraud orchestration and decisioning tools (e.g., DefenseEdge, Falcon, Advance Defense, Fraud Navigator) preferred.
  • Strong understanding of fraud metrics, forecasting methods, and false positive/true fraud tradeoffs.
  • Excellent problem-solving skills with the ability to synthesize complex data into actionable insights.
  • Strong communication skills – ability to communicate technical subject matter clearly and succinctly to other team members and financial institutions.
  • Project management experience preferred.
  • Competitive wages
  • Medical with telemedicine
  • Dental and Vision
  • Basic and Optional Life Insurance
  • Paid Time Off (PTO)
  • Maternity, Parental, Family Care
  • Community Volunteer Time Off
  • 12 Paid Holidays
  • Company Paid Disability Insurance
  • 401k (with employer match)
  • Health Savings Accounts (HSA) with company provided contributions
  • Flexible Spending Accounts (FSA)
  • Supplemental Insurance
  • Mental Health and well-being: Employee Assistance Program (EAP)
  • Tuition Reimbursement
  • Wellness program
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