Head of Fraud

About Cleo

At Cleo, we're not just building another fintech app. We're embarking on a mission to fundamentally change humanity's relationship with money. Imagine a world where everyone, regardless of background or income, has access to a hyper-intelligent financial advisor in their pocket. That's the future we're creating.

Cleo is a rare success story: a profitable, fast-growing unicorn with over $300 million in ARR and growing over 2x year-over-year. This isn't just a job; it's a chance to join a team of brilliant, driven individuals who are passionate about making a real difference. We have an exceptionally high bar for talent, seeking individuals who are not only at the top of their field but also embody our culture of collaboration and positive impact.

If you’re driven by complex challenges that push your expertise, the chance to shape something truly transformative, and the potential to share in Cleo’s success as we scale, while growing alongside a company that’s scaling fast, this might be your perfect fit.

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About The Role

As Head of Fraud, you'll lead Cleo's fraud strategy across our business, with a primary focus on the US that will increase in scope as we launch in new geographies. You'll be the senior voice on fraud across the company: setting direction, owning execution, and serving as the figurehead for everything fraud-related across debit, credit, identity, and operational risk.

This is a hands-on, first-line-of-defense role. You'll bring the experience and judgement to make confident decisions on US card regulations, KYC requirements, and the regulatory nuances that matter at scale — and you'll be deep in the detail, working closely with Credit, Product, Engineering, and Operations to shape how fraud risk is measured, managed, and reduced day to day.

Key Responsibilities

• Lead Cleo's fraud strategy across all three vectors: transaction fraud (debit and credit), identity fraud (ATO, synthetic identities, KYC), and operational fraud (chargeback management, dispute investigation)
• Set the long-term direction for fraud at Cleo, shaping how we detect, prevent, and respond to risk as we scale across markets
• Define and own the shared frameworks that sit between fraud and credit — clear definitions, boundary conditions, and a single source of truth for how we measure fraud and dispute outcomes
• Own the analytical case behind fraud guardrails and thresholds — quantifying loss exposure, justifying targets in basis points, and articulating the trade-offs between fraud loss, decline rates, and customer experience
• Lead investigations and post-incident analysis — pulling apart what worked, what didn't, and what we change as a result
• Lead vendor evaluation and selection for fraud detection and KYC tools — you'll know the market and have strong views on what works
• Own chargeback processes and fraud investigation workflows, ensuring our operational fraud function is tight, scalable, and fit for the next phase of growth
• Quantify the impact of fraud controls across the full cost stack: fraud loss, decline rate, customer service load, and customer friction — and use that to make informed buy-vs-build and policy decisions
• Ensure compliance with US card regulations, BSA/AML requirements, and FCA expectations as the UK market comes into scope
• Report fraud performance and risk posture to senior leadership; contribute to board-level risk conversations

What We're Looking For

Must Haves

• First-line-of-defense fraud experience — you've done the thing, not just overseen it
• Experience across both debit and credit transaction fraud
• Identity fraud expertise: ATO, synthetic identities, KYC platform management
• Operational fraud experience: chargeback investigation and management
• Strong analytical and quantitative skills — comfortable defending a guardrail or threshold with data, not just intuition
• Track record of working closely with credit risk teams and aligning on shared metrics, definitions, and trade-offs
• US market fraud experience — familiar with US card regulations, CFPB, and the regulatory differences vs. UK
• Background in fintech with lending or credit products (not just pure payments)
• Vendor evaluation experience — you know the fraud tooling landscape and can make strong buy vs. build decisions
• Track record of shaping fraud strategy and frameworks at scale
• Senior gravitas and consensus-building ability — you can align product, ops, credit, and compliance teams
• 10+ years in fraud or financial crime

Nice to Have

• UK fraud and FCA regulatory knowledge
• Disputes and chargeback management experience in a card-oriented business
• Relevant certifications (CFE, CAMS, CFCS)

What do you get for all your hard work?

• A competitive compensation package (base + equity) with 3-yearly reviews, aligned to our termly OKR planning cycles.
• The salary bandings for this role are: US Remote: $200,000 - $300,000, London Hybrid: £120,000 - £180,000 UK, Remote: £110,400 - £165,000
• Work at one of the fastest-growing tech startups, backed by top VC firms, Balderton & EQT Ventures
• A clear progression plan. We want you to keep growing. That means trying new things, leading others, challenging the status quo and owning your impact. Always with our complete support.
• Flexibility. We can’t fight for the world’s financial health if we’re not healthy ourselves. We work with everyone to make sure they have the balance they need to do their best work
• Work where you work best. We’re a globally distributed team. If you live in London we have a hybrid approach, we’d love you to spend one day a week or more in our beautiful office. If you’re outside of London, we’ll encourage you to spend a couple of days with us a few times per year. And we’ll cover your travel costs, naturally.

Other Benefits (UK Specific)

• Company-wide performance reviews every 4 months
• Generous pay increases for high-performing team members
• Equity top-ups for team members getting promoted
• 25 days annual leave a year + public holidays (+ an additional day for every year you spend at Cleo, up to 30 days)
• 6% employer-matched pension
• Private Medical Insurance via Vitality, dental cover, and life assurance
• Enhanced parental leave
• 1 month paid sabbatical after 4 years at Cleo
• Regular socials and activities, online and in-person
• We'll pay for your OpenAI subscription
• Online mental health support via Spill
• Workplace Nursery Scheme
• And many more!

Key skills/competency

• Fraud Strategy
• Transaction Fraud
• Identity Fraud
• Operational Fraud
• US Card Regulations
• KYC
• Chargeback Management
• Risk Management
• Fintech
• Financial Crime