# Head of Fraud Risk

**Company:** [tastytrade](https://hotfix.jobs/companies/tastytrade)
**Location:** Chicago, IL
**Role:** Other
**Salary:** $195k – $250k/yr
**Experience:** 7+ years
**Skills:** Fraud Risk Management, Fraud Program Development, Ach Fraud, Account Takeover, First-Party Fraud, Fraud Analytics, Fraud Detection, Vendor Management, Kpi Development, Fraud Budgeting, Bsa Regulations, Fincen Regulations, Sar Filing, Finra Rules, Nacha Ach Rules
**Posted:** 2026-07-07

> Lead the build-out and scaling of tastytrade's fraud risk function from the ground up. Own strategy, team hiring, vendor selection, fraud vector coverage across the customer lifecycle, analytics, and cross-functional partnerships with product, compliance, and technology in a fintech brokerage environment.

## Job Description

## What You'll Do

### Build and own the fraud program
- Define tastytrade’s fraud taxonomy, risk philosophy, control framework, escalation protocols, and documentation.
- Partner with the business to define the firm’s fraud risk appetite and translate it into a measurable fraud budget and KPI framework. Own reporting to senior leadership and IG Group.
- Separate out fraud operations from our AML regulatory obligations and design and document the escalation path for SAR filing decisions between your team and the AML Officer.
- Build and maintain the fraud universe map including what vectors matter the most, where they occur in the customer journey, and what we are doing and not doing about them.
- Own the fraud budget and headcount plan, including tooling and vendor spend.

### Own the fraud vector coverage
- Take strategic ownership of all fraud vectors across the customer lifecycle from account opening, funding, trading, and withdrawal.
- Drive fraud investigations to resolution, coordinating with all relevant internal and external partners.
- Define and own our monitoring and detection strategy. Evaluate potential vendors and partner with Product and Technology to ensure we have the tools in place to manage fraud risk.

### Lead the team
- Hire, build, and manage the Fraud Risk team. Define each role’s scope, escalation authority, and relationship with Customer Support, Compliance, and Margin & Risk teams.
- Build the frontline escalation protocol with structured intake, defined triggers, and feedback loops.
- Develop the Fraud Investigator’s case playbooks and settlement agreement process.

### Measure and improve
- Build the measurement infrastructure which includes labeled fraud data, false positive rate tracking, A/B testing capability, and trend analysis.
- Own the fraud incident taxonomy and conduct retroactive recoding of existing records.
- Evaluate alert calibration across all active alert types, retire controls that are not working, and implement the ones that are missing.
- Deliver monthly reporting on fraud program performance to senior leadership and IG Group in partnership with our Enterprise Risk Manager.

### Be the Fraud Risk business partner
- Serve as the decision maker on fraud control changes and partner with Product and Technology to design fraud controls into new product launches.
- Coordinate with our Compliance and Margin & Risk teams on shared surveillance boundaries and escalation.
- Advise our CCOs on the fraud program’s interface with our AML compliance obligations.

## Who You Are
- 7+ years of fraud risk experience, with at least 3 years owning or leading a fraud function at a fintech, payments company, or digital brokerage.
- Demonstrated experience building or materially scaling a fraud program.
- Track record of hiring and developing fraud analysts and investigators.
- Deep knowledge of ACH fraud vectors, account takeover, and first-party fraud mechanics.
- Experience with fraud analytics and data.
- Strong vendor evaluation and management skills. You have selected, implemented, and replaced fraud tooling.
- Experience defining KPIs and a fraud budget and presenting program performance to senior leadership.
- Ability to work cross-functionally with product, engineering, compliance, and legal with the credibility to hold your position during conversations where conflicting priorities surface.
- Comfortable operating in ambiguity and building structure where little exists.
- Knowledge of BSA and FinCEN regulations and SAR requirements, FINRA Rule 3310 and Rule 3110, Nacha ACH rules, SEC Rule 15c3-3 and net capital rules preferred.

## Company Perks + Benefits
- Performance Bonuses
- Stock Purchase Options
- Medical/Vision/Dental Benefits
- 401k Plan
- 20 Paid Vacation Days (plus an additional paid vacation day the month of your birthday!)
- 10 Paid Sick Days
- Gym Membership Reimbursement
- Commuter Benefits
- Pet Insurance
- Wellness & Mental Health Programs
- Charitable Donation Matching
- Two Paid Volunteer Days Off
- Daily catered lunch when in the office
- Full kitchen with snacks and beverages
- In-building gym
- Shuttle to/from Metra

**Discretionary Performance Bonus:** 15-20% of base salary based on individual and company performance.

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