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Fraud and Risk Operations Manager (Yotta)

Yotta Savings

Yotta Savings

Accounting & Finance, Operations
New York, NY, USA
Posted on Friday, June 2, 2023

Fraud and Risk Operations Manager (Yotta)

Job Posted
March 3, 2021 3:20 PM
New York

Who we are

Yotta helps Americans make better financial decisions by using behavioral psychology and gamification to make it fun and easy to make good decisions. We have grown from $0 to hundreds of millions in dollars deposited through word of mouth and referrals. Yotta is backed by world-class investors like Base10, Core Innovation Capital, YCombinator, Slow Ventures, Ken Moelis, and Cliff Asness. Yotta was recently featured in Bloomberg. 40% of Americans are unable to come up with $400 in an emergency, yet the average household spends $640/year on the lottery, despite the lottery being the worst economic value proposition there is. Why does this dichotomy exist? Because playing the lottery is instantly gratifying and saving isn't. We are making saving money instantly gratifying so that people can get the long term benefit. Our first product is Yotta Savings, a savings account that gives savers the chance to win exciting prizes on a weekly basis through a gamified sweepstakes. We were inspired by Premium Bonds, a program in the UK that works the exact same way and has over $100 billion in deposits from over 1/3 of the British population. This concept has been hugely successful in every country it's been tried in, but it was illegal in the U.S until 2015. We believe that in the next 10 years, Americans will save hundreds of billions of dollars in prize-linked savings accounts.

What we're looking for

Yotta is seeking a highly seasoned Fraud & Risk Manager to build out a dynamic risk operations team. You will lead all aspects of the structuring of policies, processes, and tools that are needed to ensure the prevention, detection and investigation of fraud, suspicious activity, and recovery.
As the first hire on the Fraud & Risk Operations team, you'll also have the near-term responsibility of conducting time-sensitive investigations, day-to-day monitoring, and management of our fraud dashboards & review queue.


Develop short and long term strategies for Yotta's fraud operations to support the consistent and effective prevention, detection, and investigation of fraud and AML risk
Build team; manage recruiting efforts to bring in top quality candidates to fill critical roles
Develop and implement fraud detection strategies and rules that balance fraud loss, cost of execution, and customer experience
Identify major fraud attack vectors and trends utilizing data analysis and statistical interpretation
Work closely with our BaaS platform, sponsor bank, and fraud vendors to monitor, review, and act upon alerted accounts for suspicious activity
Construct and iterate on fraud analytics dashboards to make it easy to track suspicious patterns
Work closely with engineering with an eye towards up-leveling our internal fraud tools and data pipelines
Develop trend reports and key indicators to share with key internal and external stakeholders

Why work at Yotta

You can help millions of Americans build up their emergency savings
You will be one of the first hires of a Series A funded, YC-backed, venture funded startup that has grown exponentially without any advertising
Opportunity to drive the vision for the future of banking and gamification of personal finance
Significant autonomy and ability to contribute the success of the company
Opportunity to work cross-functionally with engineering and operations

Who you'll be working with


5+ years experience in a fraud and/or risk operations role; consumer banking experience is highly valued
Excellent analytical skills and experience querying large datasets - fluency in SQL and Excel are must haves
Familiarity with data pipelining, data modeling, and ETL processes
Ability to tell clear stories using data especially with data visualization software such as Tableau or Looker.
Ability to think like a fraudster and aptitude for conducting risk investigations.
Extensive knowledge of KYC, AML, common fraud schemes, risk prevention strategies, and detection tools
Effective oral, written and interpersonal communication skills
A strong leader, doer, and decision-maker with demonstrable ability to work well with people at all levels
Knowledge of statistical packages in programming languages such as Python or R
CFE (Certified Fraud Examiner) and Certified Anti-Money Laundering Specialist (CAMS)
Experience working with banking partners and third party data vendors is a bonus

How to Apply

Does this position sound like a good fit? Email us at
Include this role's title in your subject line (it'll help us to sort through the emails).
Send along links that best showcase the relevant things you've built and done.
Attach your resume
We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.