The Petal mission

Petal’s mission is to bring financial opportunity and innovation to everyone. 

We're pioneering a new approach to credit, by analyzing an applicant’s banking history, in addition to credit history, to determine their creditworthiness. We call this technology a Cash Score — and it takes into account income, spending, and savings. It’s currently helping thousands of people qualify for credit at better rates, even if they’ve never had it before. 

We bring the same ingenuity to our credit card products. Our simple and intuitive app gives members access to credit score tracking, budgeting tools, subscription management, and automated payment options—everything they need to make financial progress. 

Now more than ever, Americans need help improving their credit safely, responsibly, and affordably. If this sounds like something you’d like to be a part of, apply now, and let’s change this trillion-dollar industry together. 

At Petal, we're looking for people with kindness, positivity, and integrity. You're encouraged to apply even if your experience doesn't precisely match the job description. Your skills and potential will stand out—and set you apart—especially if your career has taken some extraordinary twists and turns. At Petal, we welcome diverse perspectives from people who think rigorously and aren't afraid to challenge assumptions.

The Director of Fraud Risk role

One of the key distinctions of Petal is our cashflow underwriting model. In order for us to offer those who are new-to-credit access to credit, we can’t rely on the traditional scores generated by credit bureaus; instead, we use an applicant’s full financial record to assess creditworthiness. This enables us to approve the underserved population of ‘credit invisibles’, paving their way to financial health. However, with our innovative model comes more opportunity for fraudulent and criminal behavior, and that’s why we need to bolster our Fraud team. Specifically, we are looking for a Director of Fraud Risk Management to drive forward Petal’s fraud management strategies and policies.

This is a highly cross-functional role that reports into the Chief Risk Officer.

Key responsibilities:

• Improve core metrics related to fraud rate, incidents, charged-off dollars and customer experience from vintage to vintage; track and respond when metrics signal improvement opportunities
• Develop, augment and validate fraud identification and prevention solutions and processes and ensure appropriate cross-functional support to deal with systematic and malicious fraud events; this includes outlining processes and procedures for our Customer Operations team in Richmond, VA
• Establish appropriate profitability trade offs using various tools to maximize business return, ensuring that key business factors are understood and measured, some of which include account usage, revenue and fraud losses
• Partner with Engineering, Product, and Operations teams to conceive, design, and monitor fraud strategies in order to mitigate fraud risk in the most precise manner possible; recommend which product features to build and why
• Oversee analytical support to mitigate risk, enable revenue growth, and drive profitability through diverse analytical projects; analyze the effectiveness of existing fraud models and oversee the design, development, and management of new real-time fraud rules and models
• Identify and explore new approaches, data sources, and potential partnerships to support improvements to existing and new programs; implement these tools as needed
• Build and manage a team of fraud analysts to deliver results as well as engage in people development and hiring decisions for the fraud management function
• Promote a risk-aware culture, ensure efficient and effective risk and compliance management practices by adhering to required standards and processes

Characteristics of a successful candidate:

• 8+ years of applicable experience in a Fraud Risk strategy/analytics role in the financial industry preferably in credit cards; 2-3 years minimum of people management.
• Proficiency in one or more analytics & visualization tools (e.g. Tableau, Periscope, Looker); Ability to write very complex SQL queries.
• Proficiency in R/Python
• Experience in application and transaction fraud management
• Strong business judgment and analytical skills. You've got the ability to take ambiguous problems and solve them in a structured, hypothesis-driven, data-supported way.
• Track record of successful team-building and development.
• Collaboration and strong communications.
• Adaptability in ambiguity. Not fazed by short-term challenges which come part and parcel with startups.
• Ownership mindset and bias for action
• Detail orientation but able to still see the ‘forest’.
• Bachelor's Degree in Math, Physics, Statistics, Economics, Computer Science, or other quantitative field

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