Fraud Detection Specialist – Payment Detection (Hybrid)

As a Fraud Detection Specialist at Zopa, you will be responsible for detecting and investigating fraudulent activities within our payment systems. This involves analyzing data for transaction trends, conducting thorough reviews of CIFAS reports during onboarding screenings, and maintaining clear communication with customers throughout the investigation process. You will also be reporting your findings to CIFAS and collaborating with other financial institutions when necessary.

To apply for the Fraud Detection Specialist role at Zopa, you should have proven experience in a fraud detection role within a financial institution. Familiarity with Fraud and AML laws and strong analytical skills are essential. A proactive attitude, excellent communication skills, and the ability to manage multiple tasks effectively will also greatly enhance your application.

At Zopa, the Fraud Detection Specialist role follows a hybrid work model. You’ll be required to work in our London office on Tuesdays and Thursdays while enjoying the flexibility of working remotely for part of the week, including weekends. This model not only fosters collaboration but also promotes a healthy work-life balance, allowing you to thrive in your role.

Absolutely! At Zopa, we promote internal growth and provide opportunities for advancement. As a Fraud Detection Specialist, you will not only support and guide your peers but also gain hands-on experience with various fraud systems and tools, enhancing your career in the financial technology landscape.

Zopa takes pride in maintaining a diverse and inclusive workplace, which is integral to our company culture. With nearly 50 nationalities represented, our Diversity, Equity, and Inclusion (DE&I) forum promotes an environment where every individual can contribute their unique perspective. We are committed to making reasonable adjustments during our hiring process, ensuring everyone feels valued and welcomed.

When answering this question, share specific examples of fraud detection systems you've used in previous roles, such as FeatureSpace or Mitek. Highlight how you utilized these systems to analyze data trends and identify potential fraudulent activities, showcasing your analytical skills and understanding of fraud detection processes.

In such situations, it’s crucial to follow company protocols and document your suspicions clearly. Explain that you'd gather as much relevant information as possible and escalate the case to a senior colleague for further investigation, demonstrating your commitment to due diligence and teamwork.

Outline your approach by explaining that you would first verify the transaction details, then analyze any patterns through data analysis. Following this, you would communicate with the customer to explain the process and manage their expectations, ensuring transparency and trust in the investigation.

Demonstrate your understanding by stating that proficiency in AML laws helps ensure compliance and mitigates reputational risk while conducting investigations. This knowledge supports effective fraud detection and protects the integrity of Zopa's systems and customer relationships.

Discuss your ability to organize and prioritize tasks based on urgency and complexity. Mention using tools or methodologies that help you track cases, deadlines, and follow-ups, ensuring that key cases are handled promptly while maintaining quality.

Share a specific example where you took initiative in your past role, detailing the issue you found, the steps you took to address it, and the positive outcome. This will showcase your critical thinking skills and willingness to enhance existing processes.

Explain that you stay updated by participating in industry webinars, following relevant publications, and being part of professional networking groups. Showing a commitment to continuous learning and improvement will emphasize your dedication to the role.

Communication is vital in this role – it involves not only reporting findings to senior management but also keeping customers informed throughout investigations. Stress the importance of clarity and empathy in communication to build trust and rapport with customers.

Discuss your collaborative working style, emphasizing your willingness to share insights, seek input from colleagues, and work towards a common goal. Providing a specific example of a successful case could strengthen your response.

Share a specific challenge you've encountered, like dealing with fraudulent behavior that evolves rapidly. Discuss the strategies and methods you use to adapt and stay effective, such as continuous learning or leveraging technology.