Risk Analyst, Fraud Operations
Forward Financing
Job Overview
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Job Description
Role Overview
Forward Financing, a financial technology company dedicated to empowering small businesses across America, is seeking a Risk Analyst, Fraud Operations. This pivotal role focuses on developing profitable strategies to mitigate fraud risk while simultaneously ensuring a low-friction customer experience. The Risk Analyst will be responsible for investigating, creating, implementing, and validating various risk segmentation strategies and policies, leveraging complex data, advanced analytical, statistical, and profitability approaches. Collaboration across teams and extensive data utilization will be crucial for deriving insights and developing robust fraud risk strategies.
The Risk Analyst, Fraud Operations will utilize a variety of data sources, including on-us performance, digital risk, identity verification, credit bureau, transactional, and alternative data, to accurately evaluate the risk of fraudulent applications from both new and repeat customers. This position will address both first and third-party fraud, impacting areas such as underwriting, portfolio monitoring, customer experience, and various ad hoc analyses. This role offers high visibility within the underwriting team and will be instrumental in mitigating risk for Forward Financing.
Key Responsibilities
- Review accounts and fraud cases to identify risk-separating behaviors.
- Extract data using SQL and perform ad hoc analysis.
- Develop machine learning models using tools such as Python.
- Optimize prompts for agentic AI to automate the detection of high-risk behavior and generate actionable outputs.
- Design and monitor fraud mitigation strategies that minimize friction for legitimate applicants, including oversight of step-up and manual review processes.
- Develop and execute strategies to identify and investigate accounts opened under suspected ID theft or unauthorized 3rd party, coordinating with various teams to reduce fraud claims.
- Oversee relationships and integrations with external data providers and scoring vendors.
- Conduct root cause analysis on early defaults and fraud claims defects.
- Develop and maintain reports to measure progress against strategic business goals.
- Work with autonomy and be proactive in identifying opportunities.
- Partner with underwriting, operations, analytics, portfolio strategy, customer experience, legal, and compliance teams.
Why Join Forward Financing?
- Mission-driven Company: Contribute to unlocking capital for small businesses often underserved by traditional financing, helping them succeed and thrive.
- Flexibility: Enjoy a remote-first work environment with flexible hours, empowered to choose where you work (home, office, or hybrid).
- Comprehensive Total Rewards: Benefit from medical, dental, vision, commuter benefits, flexible time-off, paid parental leave, 401k match, wellness reimbursement, professional development budget, and charitable donation match.
- Impact-Focused Culture: Be valued for your contributions and impact on the company's success, with opportunities for growth and continuous improvement.
Role Requirements
- Sound knowledge of working with large datasets using SQL and Python.
- Strong background in building, developing, and maintaining reporting in Tableau.
- A hands-on attitude with the ability to prioritize and multitask deliverables.
- Excellent communication and organizational skills.
- 3+ years of analytical experience in consumer or business lending, preferably in credit risk or fraud.
About Forward Financing
Forward Financing is a leading financial technology company based in Boston, Massachusetts, with a distributed team across the US, Dominican Republic, and Canada. Since 2012, they have provided over $4.5 billion in funding to more than 87,000 small businesses, simplifying access to capital through advanced proprietary technology and exceptional customer service. Recognized as a Best Place to Work and certified as a Great Place To Work®, Forward Financing is committed to empowering its employees and customers alike.
Key skills/competency
- SQL
- Python
- Machine Learning
- Data Analysis
- Fraud Detection
- Risk Mitigation
- Tableau
- Identity Verification
- Credit Risk
- Financial Technology
How to Get Hired at Forward Financing
- Research Forward Financing's mission: Study their commitment to unlocking capital for small businesses, core values like 'Drive the Mission' and 'Shoot for Extraordinary,' and recent news to align your application with their vision.
- Tailor your resume for analytics and fraud: Customize your resume to highlight experience with SQL, Python, machine learning, and specific fraud detection or risk mitigation projects relevant to a Risk Analyst, Fraud Operations role.
- Showcase robust analytical skills: Prepare to discuss in detail your experience with large datasets, developing analytical models, and building reports in Tableau, demonstrating your problem-solving capabilities.
- Emphasize cross-functional collaboration: Be ready to provide examples of successful partnerships with underwriting, operations, and compliance teams to achieve strategic goals and reduce fraud claims.
- Highlight remote work effectiveness: Since Forward Financing is remote-first, demonstrate your ability to work autonomously, prioritize deliverables, and maintain strong communication in a distributed team environment.
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