First Party Fraud Strategy Senior Analyst

Business Unit: COO, Fraud
Salary Range: £39,200 - £55,000 per annum DOE + red-hot benefits
Location: UK Remote
Contract Type: Permanent

Our Team

It’s an exciting time for us as we grow our Economic Crime (PROTECT) team who have a critical role to play, keeping us and our customers safe.  They are our first line of defence function and responsible for day-to-day fraud and financial crime risk identification, ownership, management and control. We’re seeking an inspiring and engaging First Party Fraud SME who is insatiably curious and isn’t afraid to challenge the status quo.

As a member of the fraud strategy team, you’ll be responsible for supporting our efforts in detecting, preventing and mitigating first party fraud on our unsecured products (credit cards, loans & bank accounts). You’ll work closely with stakeholders in commercial, credit risk & operations to develop robust fraud strategies to prevent credit abuse risk. We’re seeking a skilled, enthusiastic professional who can make an impact. 

What you’ll be doing

• Supporting the development of first party fraud strategies and controls to detect and prevent credit abuse.
• Developing a fraud handbook to support the business and management of first party fraud cases.
• Conducting root cause analysis on first-party fraud events to identify control gaps and supporting the First Party Fraud Strategy Manager with the delivery of mitigating controls.
• Developing data-driven controls to detect and prevent first-party fraud.
• Working collaboratively with stakeholders within Fraud Analytics, Fraud Operations, Credit Risk and Commercial to ensure robust controls are in place.
• Leading the delivery of change initiatives aligned to first party fraud typologies.
• Champion upstream control improvements outside of fraud systems.
• Supporting the development of the Money Mule prevention strategy
• Keeping up to date on emerging fraud trends and techniques
• Developing & monitoring a range of KRI’s in relation to First Party Fraud, supporting the resolution of any breaches.

We need you to have

• Prior experience of developing and implementing successful fraud prevention strategies and initiatives to prevent first party fraud.
• Knowledge and understanding of first party fraud risk and industry trends to identify risks that may impact our organisation.
• Strong analytical and problem-solving skills, with the ability to interpret complex data and identify actionable insights.
• Excellent communication and interpersonal skills, with the ability to effectively collaborate with cross-functional teams.
• Ability to articulate complex analytical concepts to non-technical stakeholders.
• Proficiency in one or more programming languages such as SAS, SQL, Python or R

It’s a bonus if you have but not essential

• Knowledge of CIFAS rules and procedures in the context of first party fraud.
• Experience influencing senior stakeholders
• Knowledge of credit abuse trends and typologies

Red Hot Rewards 

• Generous holidays - 38.5 days annual leave (including bank holidays and prorated if part-time)​ plus the option to buy more. 
• Up to five extra paid well-being days per year​.  
• 20 weeks paid, gender-neutral family leave (52 weeks in total) for expectant parents and those looking to adopt.  
• Market-leading pension.  
• Free private medical cover, income protection and life assurance.  
• Flexible benefits include Cycle to Work, wellness and health assessments, and critical illness.  

And there's no waiting around, you'll enjoy these benefits from day one. 

If we’re lucky to receive a lot of interest, we may close the advert early. Please ensure to submit your applications as soon as possible.  

Say hello to Virgin Money

Virgin Money is so much more than just a bank. As part of the Nationwide group, together we're the UK's first full-service mutual bank serving millions of retail and business customers and all driven by our purpose; Banking but fairer, more rewarding and for the good of society. With us, you’ll be part of an organisation uniquely positioned to make a difference to the lives of customers, communities and broader society and embark on a collaborative, customer obsessed, and fun-filled career journey. Embrace the weekdays, enjoy fantastic perks, and make a meaningful positive difference. Time to discover what it means to be part of the first mutual full-service banking provider.  

Be yourself at Virgin Money

At Virgin Money, we celebrate everyone. We have fun, think big, and relentlessly include each other, all in pursuit of our purpose: Banking – but fairer, more rewarding, and for the good of society.  We’re committed to creating an inclusive culture where colleagues feel safe and inspired to contribute, speak up and be heard.    

As a Disability Confident Leader, we're committed to removing any obstacles to inclusion.  If you need any reasonable adjustments or support making your application, contact our Talent Acquisition team careers@virginmoney.com

Please note: If we receive a high volume of eligible applications, we may need to prioritise candidates whose skills and experience most closely align with the role, while still ensuring fair and equitable consideration for all applicants.

Now the legal bit
Although some of our roles allow you to be based anywhere in the UK, we'll need you to confirm you have the right to work in the UK. 

If you're successful in securing a role with us, there are some checks you need to complete before starting. These include credit and criminal record checks and three years' worth of satisfactory references. If the role is part of the Senior Manager Regime and Certification Regime, it requires enhanced pre-employment checks – we'll ask for six years of regulatory references, and once in the role, you'll be subject to periodic employment checks.