The Fraud Analytics and Strategy team is responsible for Financial Crime detection and prevention at WEX. We are a team that is data-driven to optimize performance of our Fraud detection tools. Using advanced analytics and robust Risk Mitigation Framework, we implement strategies to protect our customers from Financial Crimes.
This role contributes directly to the organization’s mission of developing and maintaining robust risk frameworks supporting WEX’s revenue and fraud loss objectives. We are looking for a collaborative player who is able to optimize our Fraud Detection Systems. Working closely with Fraud Investigators and Analytics teams, you will be responsible for the creation of data analytics that result in the implementation of Fraud mitigation strategies.
- Leverage analytics and Risk Models to drive improvements in Fraud Detection. This includes Global KPI’s and root cause analysis.
- Optimize Fraud Detection Systems to capture fraud and minimize customer disruptions.
- Connect the dots between business problems and data to produce innovative, data-driven insights.
- Design and implementation of data driven strategies that transform processes to enable efficiency and scale.
- Partner with Data Scientists to build Machine Learning models to solve risk problems.
- Apply Fraud Detection techniques in efficient and effective ways.
- Through analysis and understanding, deliver insights to the organization that optimize revenue and risk.
- Implement new fraud prevention and detection solutions and external data feeds to enhance fraud controls.
In the first 100 days, the employee will:
- Improve Capture Rate of Fraud by 3%
- Decrease False Positive Alerts by 3%
- Build relationships with internal stakeholders
- Understand WEX Customers and Products
- Understand WEX Fraud Prevention Systems and Data Architecture
The employee must:
Possess data creativity - if desired variables are unavailable, identifying proxies as business substitutes
Excel at detailed execution
Be highly collaborative and engaging, willing to drive execution
Deliver results on-time in a fast-paced complex environment
Possess skills to think critically and strategically to identify and solve problems, develop and implement solutions
Skills and Experience
- BS or MS degree in relevant area (Industrial Engineering, Data Analytics, Risk Management)
- Data Management Skills (SQL, Data Lake, Tableau, SnowFlake, Python, etc)
- Operations and Industrial Engineering training / certification highly desirable
Preferred Key Competencies
- Collaborative style
- Proven technical capability in Data Management (SQL, Relational Databases, Data Warehousing Techniques, Data Mart Structure, Application Interfaces)
- Data Science Techniques
- Systems Management
- Passionate about data
- Experience with Artificial Intelligence and Machine Learning Solutions
- Experience in fraud mitigation and prevention
- Experience in a Global Company focusing on Technology, Payments Technology or Software Development is desirable.
- Experienced with effectively delivering transformational data projects
- Proven track record of delivering solutions with significant business impact
- Demonstrated analytical, problem solving, organization, and project management skills
- Highly motivated, proactive and innovative
- Experience working effectively in global complex organizations
- Thrives in a fast paced, goal oriented, dynamic organization with time sensitive deadlines
- Strong project management skills, including stakeholder timelines and meeting management skills
- Develop and maintain a network of contacts and external partnerships to achieve key business and organizational objectives.
- Thorough working knowledge of operations leading practices
- Learn emerging technologies to support the organization’s long-term strategic plan
- Excellent communication skills including written, verbal and meeting facilitation/ presentations
- Ability to interact effectively and gain credibility with internal associates at all levels
The base pay range represents the anticipated low and high end of the pay range for this position. Actual pay rates will vary and will be based on various factors, such as your qualifications, skills, competencies, and proficiency for the role. Base pay is one component of WEX’s total compensation package. Most sales positions are eligible for commission under the terms of an applicable plan. Non-sales roles are typically eligible for a quarterly or annual bonus based on their role and applicable plan. WEX’s comprehensive and market competitive benefits are designed to support your personal and professional well-being. Benefits include health, dental and vision insurances, retirement savings plan, paid time off, health savings account, flexible spending accounts, life insurance, disability insurance, tuition reimbursement, and more. For more information, check out the “About Us” section.Salary Pay Range: $59,500.00 - $79,000.00