Fraud Investigations Analyst

About Gusto

At Gusto, we’re on a mission to grow the small business economy. We handle payroll, health insurance, 401(k) s, and HR so owners can focus on their craft and customers. With teams in Denver, San Francisco, and New York, we support more than 500,000 small businesses nationwide and build a workplace that reflects the people we serve.

Gusto is seeking a Fraud Investigations Analyst to join our Fraud Investigations team. In this role you will conduct end‑to‑end investigations involving account takeover, business email compromise, identity theft, payment fraud, and other emerging fraud typologies. Using investigative expertise, open‑source intelligence, internal data, and AI‑enabled tools, you will identify root causes, assess risk, and document findings.

The Fraud Investigations team investigates fraud impacting Gusto, its customers, and financial partners. The team supports customer remediation, fund recovery, and partners with Risk, Financial Crime Compliance, Product, and Engineering to strengthen fraud prevention controls.

• Analyze account activity, transactional behavior, authentication data, customer communications, and external intelligence to surface fraud indicators and build well‑supported investigative narratives.
• Synthesize findings into clear case narratives and prepare Unusual Activity Referrals (UARs) for compliance partners, escalating high‑risk events with risk‑based recommendations.
• Support customers impacted by fraud and coordinate with external banking partners on fund recovery efforts, including Letters of Indemnity.
• Leverage AI‑enabled tools to accelerate research, evidence gathering, and documentation while critically validating AI outputs for accuracy and compliance with Gusto’s AI policies.
• Collaborate with Risk, Compliance, Product, Engineering, and Data Science to surface emerging threats, close control gaps, and improve investigative tooling and AI‑assisted workflows.

• 5+ years of fraud investigations or similar investigative work within a financial institution, Fin Tech, payment processor, or regulated environment.
• Strong investigative writing and analytical skills for documenting complex fact patterns and assessing risk.
• Experience across fraud typologies, including account takeover, business email compromise, identity theft, payment fraud, and social engineering.
• Sound judgment, ability to manage multiple investigations simultaneously, and communicate findings with empathy and clarity.
• Experience using AI‑enabled tools in investigations and ability to evaluate AI outputs for accuracy and completeness.
• Certified Fraud Examiner (CFE), CAMS, or other financial crime certifications are a plus.

Cash compensation ranges from $89,165 / yr to $112,942 / yr in Denver and $110,640 / yr to $136,456 / yr in New York and San Francisco. Final offer amounts consider location, experience, and expertise and may vary from the ranges above. Compensation also includes equity and performance bonuses.

Gusto has physical offices in Denver, San Francisco, and New York City. Employees based in those locations are expected to work from the office on designated days, approximately 2–3 days per week (or more depending on the role). Remote employees must have a secure, reliable internet connection on non‑office days.

Gusto is proud to be an equal opportunity employer. We do not discriminate in hiring or any employment decision based on race, color, religion, national origin, age, sex (including pregnancy, childbirth, or related medical conditions), marital status, ancestry, physical or mental disability, genetic information, veteran status, gender identity or expression, sexual orientation, or any other applicable protected characteristic. We consider qualified applicants with criminal histories consistent with applicable law and provide reasonable accommodations for qualified individuals with disabilities and disabled veterans.