Data Scientist - Fraud Risk
Rain · United States
- Hybrid
- Full-time
- $250,000 / year
- United States
Job highlights
- Design and implement fraud risk ML models.
- Build real-time monitoring and alerting systems.
- Balance risk controls with customer experience.
- Partner with go-to-market teams.
- Analyze and report on fraud metrics.
About the role
About The Company
Rain makes the next generation of payments possible across the globe. We’re a lean and mighty team of passionate builders and veteran founders. Our infrastructure makes stablecoins usable in the real-world by powering card transactions, cross-border payments, B2B purchases, remittances, and more. We partner with fintechs, neobanks, and institutions to help them launch solutions that are global, inclusive, and efficient. You will have the opportunity to deliver massive impact at a hypergrowth company that is funded by some of the top investors in fintech, crypto, and SaaS, including Sapphire Ventures, Norwest, Galaxy Ventures, Lightspeed, Khosla, and several more. If you’re curious, bold, and excited to help shape a borderless financial future, we’d love to talk.
Our Ethos
We believe in an open and flat structure. You will be able to grow into the role that most aligns with your goals. Our team members at all levels have the freedom to explore ideas and impact the roadmap and vision of our company.
About The Team
The fraud risk management team at Rain creates sophisticated, scalable risk mitigation solutions to protect our customers and provide them a low-friction experience. We achieve this by maintaining transaction and lifecycle event monitoring, building alerts to speed up fraud detection and response, and creating risk rules and strategies empowered with ML models. We are a pillar of the business supporting new products and ensuring their success. Rain’s next generation payment technology brings unique and new fraud vectors requiring holistic, end-to-end thinking, strong data fundamentals and fraud management savvy to combat.
What you’ll do
- Own the metrics, dashboards, and reports that inform business strategy and decision-making
- Design and implement real-time monitoring systems for fraud signals and alerting thresholds
- Design, simulate, and implement real-time risk controls using real-time and offline predictive ML models
- Balance risk controls with customer experience by focusing on loss savings, reduced user friction, and margin improvement
- Partner with go-to-market teams to demonstrate the technical and business value of risk controls to customers
- Effectively summarize complex analytical results to leadership and non-technical stakeholders
- Assist partners when they have fraud concerns with their traffic
What we're looking for
- Advanced proficiency in SQL and Python
- 3+ years hands-on experience working on automated fraud risk strategies and experimentation (A/B tests), including implementation of real-time and offline predictive ML models
- Skilled in designing, building, and maintaining dashboards and fraud risk metrics
- The ability to manage ambiguous problems and find solutions
- High autonomy, including the ability to prioritize your workload effectively
- Relevant quantitative bachelor’s (or higher) degree (Statistics, Mathematics, Engineering, Computer Science, etc.)
Nice to have, but not mandatory
- Experience at a high-growth fintech company or financial services company
- Exposure to customer-facing or GTM-facing analytics or fraud issue triaging
- Background in identity risk, AML, payments fraud, or compliance analytics
- Fluency in AI-assisted data analysis / data science tooling
Things that enable a fulfilling, healthy, and happy experience at Rain:
- Unlimited time off 🌴 (at least 10 days required)
- Flexible working ☕ (work from home or office)
- New Rainmakers receive a stipend for home office setup.
- Easy to access benefits 🧠 (comprehensive health, dental, vision, 100% company subsidized life insurance for US Rainmakers)
- Retirement goals💡 (401(k) with 4% company match for US Rainmakers)
- Equity plan 📦 (equity option plan for all Rainmakers)
- Rain Cards 🌧️ (for testing core products and services)
- Health and Wellness 📚 (stipend for gym memberships, fitness classes, massages, etc.)
- Team summits ✨ (domestic and international off-sites)
Key skills/competency
- Data Science
- Fraud Risk Management
- Machine Learning
- Python
- SQL
- Risk Control
- A/B Testing
- Dashboarding
- Data Analysis
- Quantitative Analysis
Skills & topics
- Data Scientist
- Fraud Risk
- Machine Learning
- SQL
- Python
- Risk Management
- Fintech
- Data Analysis
- Real-time Systems
- A/B Testing
- Quantitative Analysis
- Financial Services
How to get hired
- Tailor your resume: Highlight your advanced SQL, Python, and ML experience in fraud risk strategies.
- Showcase your impact: Quantify your achievements in designing risk controls, reducing friction, and saving losses.
- Demonstrate autonomy: Emphasize your ability to manage ambiguous problems and prioritize effectively.
- Research Rain's mission: Understand their role in shaping the future of borderless finance.
- Prepare for technical questions: Be ready to discuss your experience with real-time systems and predictive models.
Technical preparation
Behavioral questions
Frequently asked questions
- What are the key technical skills required for the Data Scientist - Fraud Risk role at Rain?
- The Data Scientist - Fraud Risk role at Rain requires advanced proficiency in SQL and Python, along with 3+ years of hands-on experience in automated fraud risk strategies. This includes implementing real-time and offline predictive ML models and skilled experience in designing, building, and maintaining dashboards and fraud risk metrics.
- What kind of experience is preferred for a Data Scientist applicant at Rain?
- While not mandatory, experience at a high-growth fintech company or financial services company is preferred. Additionally, exposure to customer-facing analytics, GTM-facing analytics, or fraud issue triaging, as well as background in identity risk, AML, payments fraud, or compliance analytics, are considered advantageous.
- How does Rain support employee well-being and professional growth for a Data Scientist?
- Rain offers unlimited time off (with a minimum of 10 days), flexible working arrangements, a stipend for home office setup, comprehensive benefits including health, dental, and vision insurance, a 401(k) with company match, and an equity plan. They also provide resources for health and wellness spending and regular team summits.
- What is the typical career progression for a Data Scientist at Rain?
- Rain emphasizes an open and flat structure, allowing team members to grow into roles that align with their goals. You'll have the freedom to explore ideas and impact the company's roadmap and vision, suggesting a dynamic path for career progression.
- What makes the Data Scientist - Fraud Risk role at Rain unique compared to other companies?
- The role at Rain is unique due to the company's focus on next-generation payments and stablecoin usability. This brings novel fraud vectors, requiring holistic thinking and strong data fundamentals to combat. You'll work with top fintech investors and have the opportunity to shape a borderless financial future.