Fraud & Financial Crime Strategy Manager

The Payments Fraud Strategy Manager is responsible for designing, delivering and optimising the fraud strategy for the launch and ongoing management of a new Virtual Credit Card (VCC) product. This includes defining end-to-end fraud & financial crime controls across customer‑present (CP) and customer‑not‑present (CNP) transactions, authorisation metrics, managing scheme compliance, configuring transaction monitoring rules, and ensuring Fraud & Financial Crime risks are effectively mitigated as the business moves from a closed‑loop to an open‑loop issuing environment.

The role will work closely with Compliance, Product, IT, Operations, Scheme Partners (Visa/Mastercard) and third‑party fraud technology vendors to ensure a safe, compliant and commercially viable launch.

• Leading the design and delivery of the VCC fraud risk framework across CNP, cross‑border and tokenised transactions
• Defining and optimising fraud control strategy, including real‑time monitoring, behavioural rules, SCA enforcement and token security
• Establishing fraud risk appetite, setting thresholds for losses, declines, false positives and customer friction
• Owning fraud and financial crime system requirements, ensuring effective integration of data, authorisation feeds and scheme signals
• Designing and tuning fraud detection rules and supporting the development of AI/ML capabilities
• Ensuring compliance with scheme requirements (VFMP, EFM), managing scheme relationships and reporting obligations
• Defining end‑to‑end fraud operations, including alert handling, escalation, authentication journeys and customer outcomes
• Supporting the build, readiness and capability of Fraud Operations teams ahead of launch
• Acting as the fraud SME within product development, embedding risk mitigation across product design and customer journeys
• Maintaining fraud governance, policy and MI, and presenting risk insight to key stakeholders and committees
• Leading fraud readiness and go‑live activity, including testing, certification and rule calibration
• Driving post‑launch optimisation, monitoring emerging threats and continuously improving control effectiveness

As FGFS is within a regulated environment any offer is subject to satisfactory background checks including criminal record check, credit check, and employment references.

• Frasers Champion – employees are recognized every month for hard work. Winners receive double pay for a month.
• Retail Reconnect – employees spend one to two days in a store or warehouse each year to understand frontline operations.
• Fearless 1200 – reward for living values and delivering impact, linked to performance. (Video link: )
• Frasers Fit – free gym classes and discounted memberships, wellness app with training, nutrition and lifestyle advice.
• Retail Trust – free access to a wellbeing helpline, wellness hub, counselling and financial/legal support.

• Strong experience in card issuing fraud strategy across Visa and Mastercard products
• Deep understanding of CNP/CP fraud, SCA/3DS2, tokenisation, cross‑border risks and merchant behaviours
• Hands‑on experience with fraud and AML transaction monitoring platforms, including rule design and optimisation
• Proven capability in designing authorisation strategies, balancing fraud prevention with customer experience
• Strong knowledge of scheme compliance and reporting requirements (VFMP, EFM, TC40/SAFE, VCR/Master Com)
• Experience delivering fraud work streams within complex product or technology programmes
• Solid understanding of AML/CTF obligations within a card or payments environment
• Ability to translate fraud risks into clear, actionable business and system requirements
• Strong analytical and problem‑solving skills, with a data‑led approach to decision making
• Effective stakeholder management across Product, Technology, Operations and Scheme partners
• Clear and confident communicator, able to operate in fast‑paced, delivery‑focused environments
• Proactive, ownership‑driven mindset with a focus on outcomes and continuous improvement