Fraud Investigator

Title: Fraud Investigator - Out of Hours
Type;Remote

Location: Remote (UK)

Job Description:

We’re waving goodbye to the complicated and confusing ways of traditional banking.

After starting as a prepaid card, our product offering has grown a lot in the last 10 years in the UK. As well as personal and business bank accounts, we offer joint accounts, accounts for 16-17 year olds, a free kids account and credit cards in the UK, with more exciting things to come beyond. Our UK customers can also save, invest and combine their pensions with us. 

With our hot coral cards and get-paid-early feature, combined with financial education on social media and our award winning customer service, we have a long history of creating magical moments for our customers!

We’re not about selling products - we want to solve problems and change lives through Monzo 

Hear from our UK team about what it's like working at Monzo 

Remote in the UK |  £26,000 - £31,400 + £2,503 evening allowance + Benefits | Hear from the team 

Working 37.5 hours per week, 5pm - 1:30am Monday - Sunday, 1 in 3 weekend rotation.

Start date - Monday 20th October 

About us: 

We’re here to make money work for everyone and we're doing things differently. For too long, banking has been obtuse, complex and opaque.

We want to change that and build a bank with everyone, for everyone. Our amazing community suggests features, test the app and give us constant feedback so we can build something everyone loves.

We're focused on solving problems, rather than selling financial products. We want to make the world a better place and change people's lives through Monzo.

Our Financial Crime & Fraud Team:

Our Mission in the Financial Crime & Fraud Collective is to earn and keep our customers’ trust, support Monzo’s safe growth, and contribute to building a safer society. Our Fraud Investigators are crucial to the success of this mission.

What you’ll be working on; 

The Fraud Investigator role within our overnight pillar is broken into 3 parts of Fraud, Pusue which facilitates and acts on vital communication between Monzo and other institutions; helping us to prevent the loss of funds to fraudsters both within Monzo and across the industry. This communication falls into three main categories:

The second part is within our Protect pillar which provides vital after-care to Monzo customers who have fallen victim to value fraud across a range of touch points, including:

The third is within our Prevent pillar which provides vital intervention and response to Monzo customers who are experiencing potential active fraud attempts on their funds across two main channels:

• Communication to other banks about potential fraudsters in their customer base
• Communication from other banks about potential fraudsters in Monzo’s customer base
• Communication to and from CIFAS about potential fraudsters in Monzo’s customer base
• Communication with law enforcement about crime we discover as part of our investigations
• Unauthorised card fraud
• Unauthorised faster payment fraud
• Authorised card payment fraud
• Authorised faster payment fraud
• Third party account takeover attempts
•  Please note, as part of your role you will be required to make outbound calls

Your day to day: 

Fraud Investigators within our Fraud pillars work to a mixture of regulated and unregulated deadlines. Their role supports the quality of performance and knowledge across the pillar. 

• Investigate claims with empathy and attention to detail
• Investigating and reporting fraud to other banks when our customers have been a victim of fraud
• Triaging and taking initial action on inbound communications from a range of institutions
• Creating and actioning indemnities and defunds where needed
• Writing Suspicious Activity Reports (SARs) 
• Probing for further evidence where needed
• Making decisions on cases and uphold or decline fraud claims 
• Submitting accounts for closure where first party concerns are held following investigation (in line with relevant guidance)
• Safeguarding compromised accounts and taking appropriate remedial action to ensure customers can resume safe usage of their Monzo account
• Providing advice and support to victims of fraud on how they can protect themselves in the future
• Completing any post-investigation activity as required
• Gathering evidence from flagged transaction data 
• Independently make decisions on cases and release or block flagged transactions 
• Collaboratively make decisions on cases and release or block flagged transactions
• Reviewing limit increase requests from customers

You should apply if you have:

• Excellent English written & verbal communication skills
• Previous experience in Fraud, customer service or a related field
• Ability to be persuasive and empathetic
• Strong expertise in investigating, problem solving and decision making
• Ability to work well independently & be collaborative with the wider team
• Ability to work to deadlines
• Values driven approach in line with Monzo’s core values

What's in it for you:

•  £26,000 - £31,400 base salary   plus stock options
• Late evening allowance of £2503 per year
• This is a remote opportunity
• Learning budget of £1,000 a year for books, training courses and conferences
•  And much more, see our full list of benefits here

Please note we will only close this role once we have enough applications for the next stages. Please submit your application asap to avoid any disappointment.