- Manage all aspects of the payments fraud operations, including monitoring payment processing and gateway activities, payments fraud data analysis and set-up mitigating rules using the fraud module.
- Formulate and execute fraud mitigation plans
- Execute policies and strategic programs to address the payments fraud risk, mitigate the loss or damage of any nature.
- Sound understanding of the anti-fraud management strategies related to the payments acquiring, issuance business models.
- Maintain an in-depth knowledge of Card Scheme rules/payment card network rules.
- Monitor partner/merchant’s performance under card association fraud risk rules.
- Review any case of suspected fraud reported and take appropriate actions accordingly.
- Regularly generate, review reports to early identification of unusual processing patterns.
- Conduct analysis and investigation on any partner/merchant’s suspected fraudulent transactions by using available resources including partner contact, contacting banks/issuer.
- Maintain a robust relationship between internal and external stakeholders. Educate stakeholders on the fraud management platform and processes.
- Promptly attend to partner requests related to payments fraud management.
- Maintain awareness of key process changes, system changes and how they impact the payments fraud risk.
- Develop proactive efforts to measure and mitigate fraud risk without negatively impacting the customer experience and the revenue.
- Engage with stakeholders (Ex: fraud prevention service providers, processors/acquirers, issuers, payment partners, etc.) to set up fraud mitigation systems,
processes to address issues. Also, to improve our payment fraud systems and payment partner/user experiences.
- Review incoming chargebacks and provide timely responses to the payment providers to ensure the highest possible win rate.
- Work across multiple platforms and cross-functionally to build robust chargeback resentments.
- Identify the opportunities to minimize the incoming volume of chargebacks received.
- Develop and implement strategies to improve chargeback represented rates.
- Communicate and report overall status, primary metrics, essential fraud issues, solution plans and readiness timelines to senior management.
- Develop monthly reporting metrics to monitor payments fraud metrics.
- Create reports and communicate to Senior Management regarding any concerns of an existing partner/merchant’s portfolio.
- Evaluate the effectiveness of payment fraud detection systems and strategies.
- Proactively contribute to new payment fraud prevention strategies, tools or technologies.
- Analyze and define metrics that provides the success of payment methods/product, fraud service providers and make recommendations to optimize payment authorization rates.
- Recommend potential optimizations to maximize revenue by mitigating losses.
- Continuously improve payments fraud management processes and procedures
- Experience in handling Safe key (American Express) and 3D (Visa/MasterCard) secure transactions in the Card Not Present environment.
- Sound knowledge about Cyber source/ThreatMetric tool
- Good knowledge about setting up Fraud Management rules for Issuing & Acquiring activities