Fraud Strategy Director

MoCaFi is committed to building a financial services platform that helps America’s marginalized communities create wealth through better access to public, private, and social capital. We are a fintech built for government and non-profit organizations committed to creating finance for all. Our platform is a turnkey digital banking solution for delivering cash payments, deposit accounts, and wealth empowerment tools at the city, state, and federal levels.

MoCaFi has distributed over $100M in guaranteed basic income, cash assistance, emergency rental assistance, and emergency utility payments in over a dozen municipalities.  We are led by a diverse team of finance, engineering, and startup professionals committed to closing America’s racial wealth gap. We offer FDIC-insured bank accounts, municipal-funded disbursement cards, and financial empowerment services directly to consumers and through our public and private sector partners.

Job Description

MoCaFi is seeking an experienced and data-driven Fraud Strategy Director to lead and optimize our fraud prevention efforts. In this role, you will develop strategies, tools, and policies to proactively detect and mitigate fraud across our platform while balancing risk, cost, and customer experience. You will collaborate cross-functionally with Risk, Product, Engineering, Data, Customer Support, and Compliance teams to execute scalable fraud solutions.

This position reports to the Head of Debit Operations and is based in the NYC metro area, with a hybrid schedule of two days per week at our Manhattan headquarters. Depending on the candidate's location, the salary range is $110,000 - $155,000. 

Job Responsibilities 

• Design, implement, and continuously improve fraud detection strategies, policies, and rules across products and platforms.
• Monitor fraud trends and patterns, oversee third-party Transaction Monitoring team, investigate incidents, and take swift action to mitigate losses.
• Develop and maintain metrics including KRIs which measure risk mitigation strategies and communicate progress to key stakeholders and leadership.
• Partner with Data Science and Engineering to build or enhance tools, models, and dashboards for fraud detection and prevention.
• Collaborate with Compliance, Customer Support, and Legal teams to address fraud-related issues and regulatory requirements.
• Lead initiatives to improve customer experience while minimizing fraud risk (e.g., identity verification, transaction monitoring).
• Support incident response processes related to fraud attacks, including internal communications and postmortem reviews.
• Stay current on industry best practices, emerging fraud trends, and evolving regulatory requirements.
  
  

Job Qualifications

• Bachelor’s degree in Business, Statistics, Finance, Risk Management, or related field.
• 7+ years of experience in fraud strategy, risk analytics, or financial crime prevention within fintech, banking, e-commerce, payments, or consumer lending environments (e.g., payment processing, acquiring, issuing, or payment technology providers).
• Proven track record in building fraud strategies and working with large data sets end to end to drive decisions.
• Experience with various fraud detection capabilities; fraud prevention rule management systems, device profiling, customer verification, document verification technologies is highly preferred.
• Strong analytical and problem-solving skills; experience with Python and BigQuery is required. Familiarity with SQL or other analytics tools is a plus.
• Excellent cross-functional collaboration and communication skills.
• Ability to operate independently in a fast-paced, high-growth environment, with a strong understanding of Reg E and its application in day-to-day operations.
• Extensive experience partnering with third-party fraud and identity detection vendors (e.g., SentiLink, Socure, LexisNexis, CLEAR, Alloy).
• Understanding of fraud regulations and compliance requirements.
• Experience scaling fraud operations in a startup or high-growth environment preferred.
• Pursuant to our contract with the FAA, this position requires that all employees working on Federal contracts be U.S. citizens or Lawful Permanent Residents.

Why you'll love working here:

• An empowering workplace that values initiative and critical thinking
• Work on achieving our financial inclusion mission
• A supportive and inclusive culture: recognizes contributions and celebrates wins
• A welcoming environment that appreciates your bringing your entire self to work
• Time to rest and recharge -- flexible time off policy as long as you can get your job done and make arrangements with your manager to cover you if needed

MoCaFi believes all persons should have equal access to its programs, facilities, and employment.  This policy is without regard to race, color, ancestry, national origin, age, gender, sexual orientation, gender identity, age, religion, disability, medical condition, genetic information, marital, or veteran status.