Fraud Strategist - Transactional Monitoring

About the Team/Role

The Fraud Analytics and Strategy team at WEX is responsible for Financial Crime detection and prevention, focused on optimizing the performance of fraud detection tools and leveraging advanced analytics and a robust risk mitigation framework.

The Transactional Monitoring Fraud Strategist plays a key role in contributing to the development and execution of transactional monitoring strategies to detect and prevent fraud across commercial credit products. This position explicitly supports the management and optimization of detection systems focused on spend behavior, merchant risk, velocity controls, and geolocation monitoring.

This strategist will collaborate closely with Fraud Investigations, Product, and Analytics teams to assist in designing data-driven rulesets, monitoring fraud trends, and supporting scalable prevention strategies that align with business risk appetite and customer experience goals. This role is expected to deliver data-backed insights in partnership with internal analytics, fraud operations, and engineering teams.

Key How you'll make an impact

• System Management and Optimization

  • Support the management and enhancement of transaction monitoring platforms and detection logic for commercial credit card fraud prevention.

  • Design, test, and deploy rules and risk models to detect a broad range of fraud vectors (e.g., counterfeit, BIN attacks, card-present fraud, cross-border abuse).

  • Contribute to optimizing authorization-level transaction rules to reduce false positives while maximizing fraud capture.

  • Collaborate with Fraud Operations, Engineering, and Vendors to support performance enhancements, system updates, and incident resolution.

  • Strategy and Fraud Policy Development

  • Contribute to the development and refinement of fraud detection policies based on merchant category codes (MCCs), spend patterns, transaction velocity, and geographic risk indicators.

  • Support the incorporation of external threat intelligence, fraud loss trends, and investigative insights into policy decisions.

  • Conduct root cause analysis on fraud cases to continuously improve coverage.

• Data-Driven Analysis and Reporting

  • Partner with analytics teams to evaluate fraud loss performance, rule efficiency, and alert-to-case conversion rates.

  • Analyze portfolio behavior to identify anomalies, emerging threats, and areas for improvement.

  • Support iterative strategy changes using performance data, business context, and customer impact assessments.

  • Monitor system KPIs, evaluate performance trends, and recommend improvements.

• Cross-Functional Collaboration

  • Collaborate with Fraud Ops, Engineering, Product, and Vendors to ensure fraud controls are aligned with technical capabilities and business goals.

  • Support system migrations, product expansions, and vendor onboarding efforts from a fraud strategy lens.

  • Participate in stakeholder conversations on fraud risk exposure and mitigation tactics.

  • Build and maintain relationships across Analytics, Product, Engineering, and Fraud Investigations.

Early Success Expectations (First 100 Days)

• Improve capture rate of transaction-based fraud by 3%.

• Decrease false positive alerts by 3%.

• Build strong relationships with Fraud Operations, Analytics, and Product teams.

• Gain a comprehensive understanding of commercial card products and WEX detection architecture.

Experience you'll bring

• Bachelor’s or Master’s degree in a relevant field (e.g., Data Analytics, Risk Management).

• 3-5 years of experience in fraud strategy, financial crimes, or transaction monitoring for credit/debit products, preferably in fintech or payments environments.

• Hands-on experience working with detection rules and systems (e.g., Datavisor, Actimize, Falcon, or similar) is strongly preferred.

• Solid understanding of fraud vectors in the commercial payments space, including merchant risk and card authorization logic.

• Good data analysis skills: Proficient in SQL, Tableau, Snowflake, etc..

• Proven ability to contribute to building and managing fraud rules and detection policies.

• Ability to contribute to designing effective risk controls that balance fraud mitigation and customer experience.

• Good project management, cross-functional communication, and analytical problem-solving skills.

• Experience in payment networks (e.g., Mastercard, Visa) and knowledge of fraud reporting frameworks is a plus.

• Experience with machine learning or AI-powered fraud models is preferred.

• Prior experience in a global payments, fintech, or software-driven organization is a plus.