Head of Fraud

About The Company

Cleo is a profitable, fast-growing unicorn with over $380 million in ARR and growing over 2x year-over-year. We're on a mission to fundamentally change humanity's relationship with money by putting a hyper-intelligent financial advisor in everyone's pocket. We have an exceptionally high bar for talent, seeking individuals who are not only at the top of their field but also embody our culture of collaboration and positive impact.

About The Role

As Head of Fraud, you'll lead Cleo's fraud strategy across our business, with a primary focus on the US that will increase in scope as we launch in new geographies. You'll be the senior voice on fraud across the company: setting direction, owning execution, and serving as the figurehead for everything fraud-related across debit, credit, identity, and operational risk. This is a hands-on, first-line-of-defense role. You'll bring the experience and judgement to make confident decisions on US card regulations, KYC requirements, and the regulatory nuances that matter at scale—and you'll be deep in the detail, working closely with Credit, Product, Engineering, and Operations to shape how fraud risk is measured, managed, and reduced day to day.

Key Responsibilities

• Lead Cleo's fraud strategy across all three vectors: transaction fraud (debit and credit), identity fraud (ATO, synthetic identities, KYC), and operational fraud (chargeback management, dispute investigation)
• Set the long-term direction for fraud at Cleo, shaping how we detect, prevent, and respond to risk as we scale across markets
• Define and own the shared frameworks that sit between fraud and credit—clear definitions, boundary conditions, and a single source of truth for how we measure fraud and dispute outcomes
• Own the analytical case behind fraud guardrails and thresholds—quantifying loss exposure, justifying targets in basis points, and articulating the trade-offs between fraud loss, decline rates, and customer experience
• Lead investigations and post-incident analysis—pulling apart what worked, what didn't, and what we change as a result
• Lead vendor evaluation and selection for fraud detection and KYC tools—you'll know the market and have strong views on what works
• Own chargeback processes and fraud investigation workflows, ensuring our operational fraud function is tight, scalable, and fit for the next phase of growth
• Quantify the impact of fraud controls across the full cost stack: fraud loss, decline rate, customer service load, and customer friction—and use that to make informed buy-vs-build and policy decisions
• Ensure compliance with US card regulations, BSA/AML requirements, and FCA expectations as the UK market comes into scope
• Report fraud performance and risk posture to senior leadership; contribute to board-level risk conversations

Must Haves

• First-line-of-defense fraud experience—you've done the thing, not just overseen it
• Experience across both debit and credit transaction fraud
• Identity fraud expertise: ATO, synthetic identities, KYC platform management
• Operational fraud experience: chargeback investigation and management
• Strong analytical and quantitative skills—comfortable defending a guardrail or threshold with data, not just intuition
• Track record of working closely with credit risk teams and aligning on shared metrics, definitions, and trade-offs
• US market fraud experience—familiar with US card regulations, CFPB, and the regulatory differences vs. UK
• Background in fintech with lending or credit products (not just pure payments)
• Vendor evaluation experience—you know the fraud tooling landscape and can make strong buy vs. build decisions
• Track record of shaping fraud strategy and frameworks at scale
• Senior gravitas and consensus-building ability—you can align product, ops, credit, and compliance teams
• 8+ years in fraud or financial crime

Nice to Have

• UK fraud and FCA regulatory knowledge
• Disputes and chargeback management experience in a card-oriented business
• Relevant certifications (CFE, CAMS, CFCS)

Compensation

US Remote: $255,000 - $300,000
Other locations: Compensation will be discussed during the interview process. Final compensation will be determined based on the candidate's qualifications, skills, and previous experience.

Benefits

• Competitive compensation package (base + equity) with 3-yearly reviews, aligned to termly OKR planning cycles
• Work at one of the fastest-growing tech startups, backed by top VC firms Balderton & EQT Ventures
• A clear progression plan with complete support to try new things, lead others, challenge the status quo, and own your impact
• Flexibility to maintain balance—work where you work best. Hybrid approach in London (1+ day per week in office) or remote elsewhere, with travel costs covered for team visits
• Company-wide performance reviews every 6 months
• Generous pay increases for high-performing team members
• Equity top-ups for team members getting promoted
• 15 days annual leave + 5 additional floating flexible days per year + public holidays (+ an additional day for every year at Cleo)
• 1 extra day per year for learning and 1 extra day for volunteering
• 401k matching
• Medical Insurance, Dental, and Vision care
• Generous Parental Leave
• 1 month paid sabbatical after 4 years at Cleo
• Regular socials and activities, online and in-person
• We'll pay for your OpenAI subscription
• Online mental health support via Spill
• And many more!