Merchant Fraud Analyst

About the role

Adyen is seeking a motivated professional to join our expanding Merchant Fraud team in Chicago. You will work alongside Risk, Product, and Merchant Operations to identify and mitigate fraud risks within our acquiring and embedded financial services. In this capacity, you will own the end-to-end fraud lifecycle for our merchant customers, balancing risk mitigation with enabling legitimate business growth. You will be responsible for maintaining the integrity of transaction flows while ensuring that our protective measures do not create unnecessary friction for valid merchants. The role requires a deep commitment to understanding evolving fraud tactics and translating that knowledge into actionable controls. You will act as a bridge between technical detection systems and commercial stakeholders to ensure alignment on risk appetite. Success in this position will be measured by your ability to reduce fraud losses without negatively impacting merchant conversion and satisfaction.

Key facts

What you'll do

• Execute day-to-day fraud operations processes with precision and attention to detail in a fast-paced environment.
• Analyze transaction patterns and user behavior to detect and stop fraud in real-time before financial impact occurs.
• Enhance fraud detection systems by providing constructive feedback and proposing targeted tool enhancements to improve accuracy.
• Draft and refine incident response policies, including conducting root cause analysis and coordinating funds recovery efforts.
• Track and evaluate emerging fraud trends and technologies to ensure our prevention methods remain current and effective.
• Collaborate with cross-functional partners to develop strategies that address new fraud vectors as they emerge in the marketplace.
• Support the development of playbooks and standard operating procedures that standardize responses to complex fraud cases.
• Interpret large datasets to identify anomalies and generate insights that inform risk policy adjustments.
• Partner with product teams to test new features in controlled environments to assess potential fraud vulnerabilities.
• Communicate risk findings to non-technical stakeholders in a clear and actionable manner to facilitate informed decision-making.
• Monitor industry benchmarks and regulatory changes to ensure our practices align with best-in-class standards.
• Own specific fraud metrics and work iteratively to improve key performance indicators related to fraud prevention.
• Serve as a subject matter expert within the organization on merchant fraud risks and mitigation strategies.
• Facilitate knowledge transfer sessions to elevate the fraud awareness across the broader organization.

Requirements

• Bring 1-3 years of professional experience in fraud roles within a financial institution or regulated environment.
• Demonstrate a solid proficiency in the payments ecosystem, including both issuing and acquiring domains and their associated risks.
• Show a clear understanding of common fraud types such as scams, chargeback fraud, and account takeover attempts.
• Exhibit strong analytical skills with the ability to leverage data for conducting investigations and driving policy improvements.
• Confirm prior experience with fraud detection, prevention, and remediation activities specifically within the banking sector.
• Prove the ability to work independently with minimal supervision while also thriving in collaborative settings across global teams.
• Display strong written and verbal communication skills to articulate complex risk concepts to diverse audiences.
• Commit to adhering to company policies, regulatory requirements, and internal control frameworks consistently.

Nice to have

• Prior experience working at an issuing bank, payment service provider (PSP), or other fintech platform that handles transaction risk.

Skills & tools

• Hands-on experience with fraud detection and prevention systems and related security tools.
• Strong capabilities in data analysis, including the use of spreadsheets and potentially SQL for investigative work.
• Familiarity with incident response processes and root cause analysis methodologies.
• Comprehensive knowledge of the payments ecosystem, including products, flows, and associated risk factors.
• Understanding of fraud investigation techniques and the tools used to support them in a professional setting.

Practical notes

• Adyen is an equal opportunity employer committed to diversity and inclusion.
• We aim to respond to applications within 5 business days.
• The typical interview process lasts approximately 4 weeks.
• This role is based in Chicago and requires participation in the standard full-time schedule.
• Travel requirements are not specified at this time for this position.
• Candidates must be authorized to work in the United States without sponsorship for this role at this time.
• The interview timeline is approximate and subject to change based on candidate volume and business needs.
• All applicants will be considered regardless of background and identity in accordance with our equal opportunity policy.