Fraud Risk Oversight Lead

Who are we?

At Open Payd, we are building a universal financial infrastructure to power the growth of the digital economy. Our rails-agnostic approach empowers any business to move and manage money globally - across both traditional rails and stable coins — at scale, and in real time.

The Open Payd platform delivers a suite of banking and payments infrastructure: accounts in over 40 currencies, FX, on/off ramp, international and domestic payments, Open Banking services – all via a single API.

A global network of licences alongside our best-in-class tech is why we're trusted by 1000+ enterprise clients to process over $180bn volume annually.

• Develop, implement, and maintain the organisation’s fraud risk management framework, including relevant policies, standards, and procedures.
• Provide second line oversight of fraud risks across the organisation, ensuring that fraud risks are appropriately identified, assessed, managed, and mitigated by first line teams.
• Conduct fraud risk assessments across products, customer segments, payment flows, and operational processes to identify vulnerabilities and emerging risks.
• Monitor fraud trends, typologies, and emerging threats within the payments and fintech industry, ensuring the organisation adapts its controls and mitigation strategies accordingly.
• Review and challenge fraud prevention and detection controls implemented by the first line, including transaction monitoring rules, fraud detection mechanisms, and preventative safeguards.
• Provide oversight and review of fraud rule implementation, tuning, and optimisation to ensure fraud controls remain effective while minimising unnecessary operational impact.
• Maintain a quality assurance and quality control framework for fraud-related activities performed by first line teams.
• Perform independent reviews of fraud alerts handling, fraud investigations, and case management processes to ensure adherence to internal policies, procedures, and regulatory expectations.
• Assess whether fraud cases are appropriately identified, escalated, investigated, and resolved, identifying areas for improvement where necessary.
• Identify control weaknesses, process gaps, and potential enhancements to strengthen the organisation’s fraud prevention and detection capabilities.
• Ensure fraud risk considerations are embedded into new products, services, payment flows, and system changes, working closely with product, technology, and operational teams.
• Maintain fraud risk reporting and dashboards, including key risk indicators and management information for senior management and relevant governance committees.
• Analyse fraud data and trends to identify systemic issues, emerging risks, and opportunities to strengthen the control framework.
• Escalate material fraud risks, control weaknesses, or emerging threats through appropriate governance forums.
• Support internal audits, regulatory reviews, and other assurance activities relating to fraud risk management.
• Maintain awareness of evolving regulatory expectations, fraud typologies, and industry best practices related to fraud risk management.
• Act as a subject matter expert on fraud risk within the second line and provide guidance to internal stakeholders on fraud risk mitigation.
• Collaborate closely with Fraud Operations, Compliance, Risk, Transaction Monitoring, Product, and Operations teams where fraud risks intersect with broader financial crime risks.

• Experience in fraud risk management, fraud prevention, financial crime, or payments risk within fintech, banking, or payment institutions.
• Experience working within a second line of defence, risk oversight, compliance, or control testing role.
• Strong understanding of fraud typologies relevant to payments and fintech, including authorised push payment (APP) fraud and payment fraud.
• Experience developing or overseeing fraud frameworks, risk assessments, or fraud control environments.
• Experience performing quality assurance, control testing, or oversight of fraud investigations and operational fraud processes.
• Strong analytical skills with the ability to interpret fraud data,…