The Petal mission

At Petal, we’re using fresh thinking and cutting-edge technology to make credit honest, simple and accessible. We use machine learning to analyze more data in our credit decisions, which means more people qualify, even if they’ve never had credit before. And we use behavioral science and smart, intuitive design to offer a simple, customer-centric product that’s engineered to achieve better financial outcomes -- with straightforward terms and no fees whatsoever. The result is an exciting new approach to credit that has the potential to radically expand credit access and improve the lives of millions of consumers, shaking up a trillion dollar industry in the process.

To do this, we’re bringing together exceptional talent from across disciplines and industries to shape the future of financial services and improve the lives of our customers in a meaningful way.

The Risk team

To thrive in the credit card space, it’s critical to have a strong Risk team that understands how to underwrite customers while maintaining a very low charge-off rate.  It requires judgment, analytic thinking, and experience -- which our growing Risk team has in spades! Building on these skills -- and just as essential to our success -- a great Fraud team can ensure that our lending is focused on the people who need it most.  By detecting suspicious card activity and strengthening card controls, the Fraud team directly minimizes losses resulting from credit card fraud.

The Trust & Safety role

As we build out our credit card operations, we’re looking for the inaugural member of our Fraud team, to help build the foundations for how we detect, address, and build out long-term solutions to fraudulent behavior.  While some level of previous experience is important, the key characteristics that matter to us are proactivity, judgment, willingness to roll-up-sleeves and design/influence/build processes in collaboration with other stakeholders in Risk, Legal, Compliance, Finance, and Customer Experience.

This role reports into the Head of Risk.

Key responsibilities

• Develop and implement comprehensive fraud detection strategies and business rules that balance fraud loss, cost of execution, and customer experience.
• Identifies risk factors and trends of potentially fraudulent activity utilizing technical data analysis and statistical interpretation.
• Document and educate others on new and revised processes for fraud and disputes.  And ensure that others are documenting these activities appropriately.
• Utilize analytics to optimize existing fraud strategies, in order to reduce false positive rates and increase fraud detection rates.
• Extract and analyze data, investigate data integrity, generate metrics and perform data and portfolio analysis.
• Generate fraud metrics to show the performance of fraud systems for use in management reporting.
• Identify gaps in current systems, policies and strategies and take actions to mitigate emerging fraud risks with guidance from managers.
• Manages multiple projects to enhance and optimize fraud strategy systems and tools.
• Recommends enhancements and process improvements based on assessment of fraud systems and processes, including researching potential vendors, data sources, tools.
• Develops trending reports and key indicators to serve as early warning risk indicators for potential fraudulent activity.
• Communicates significant issues to management; make recommendations when weaknesses are identified.
• Embrace ongoing education and new technology; learn/apply new skills as it relates to the detection and prevention of credit/debit card fraud.
• Perform other job duties as needed.  We are a startup so there may be some ambiguity in the short run.

Characteristics of a successful candidate

• 2-3 years of professional work experience in fraud policy at a credit card company.   Bonus points for experience in a rapidly growing tech startup.
• Independently proficient at SQL & R.
• Experience in identifying needs, proposing solutions, and implementing projects to completion.
• Strong self-management, drive, and organization.  Ability to multi-task in a fast-paced environment is essential.
• Problem-solving versatility and resourcefulness.  There will be many new and unexpected problems, and we need someone who can do the required research/networking to propose well thought-out solutions.
• Outstanding communication skills, verbal and written.  This is particularly important in communicating requirements and needs to other stakeholders.

What Petal offers

>> Welcoming, diverse, and interesting colleagues from all walks of life

>> Competitive compensation packages, including equity

>> Comprehensive benefits package -- medical, dental, vision

>> 401(k) plan

>> Plenty of opportunities to get to know the team -- twice-weekly team lunches; monthly happy hours; monthly company dinners; fully-stocked kitchen

>> Generous PTO policy

>> Beautifully-designed office, located at the fashionable and fun intersection of Soho and Greenwich Village

>> Opportunities to attend learning programs and conferences (more to come!)

Petal is an equal opportunity employer, and we are committed to building a team culture that celebrates diversity and inclusion. We’re proud to be different, together.