Risk Strategist

About the role

Relay is seeking a Risk Strategist to help protect our banking platform and the small businesses that rely on it. You will own the end-to-end process of identifying fraud trends and building strategies that balance security with a positive customer experience. This role requires a data-driven approach to optimize fraud rules and collaborate across departments to strengthen our defenses. You will translate complex risk data into actionable strategies that align with business objectives and regulatory expectations. The ideal candidate thrives in a dynamic environment where insights drive decisions and collaboration is constant. You will work closely with cross-functional partners to ensure that security measures evolve alongside emerging threats. Success in this position means delivering measurable improvements in fraud prevention without compromising usability or growth.

Key facts

What you'll do

• Design and tune fraud prevention rules across onboarding, payments, and account usage.
• Analyze transaction and account data to identify emerging fraud patterns and system vulnerabilities.
• Perform backtesting on rule changes to measure impact on fraud rates and operational efficiency.
• Partner with Product and Engineering teams to integrate fraud controls into new features.
• Manage external data sources and fraud tools to improve automated detection.
• Communicate risk insights and recommendations to both technical and non-technical stakeholders.
• Monitor post-deployment performance to iterate on risk strategies.
• Evaluate new technologies and methodologies to enhance fraud detection capabilities.
• Develop scenarios and simulations to test the effectiveness of proposed rule changes.
• Document risk frameworks, processes, and decisions to ensure clarity and consistency.
• Support the development of policies that align with industry standards and internal governance.
• Identify opportunities to streamline risk operations through automation and improved workflows.
• Collaborate on the creation of dashboards and reports that visualize risk trends and outcomes.
• Contribute to the continuous improvement of the fraud lifecycle from detection to resolution.

Requirements

• 2+ years of experience in risk strategy, fraud, or data analysis within fintech, banking, or payments.
• Proficiency in SQL, including window functions, subqueries, aggregations, and joins.
• Proven ability to manage projects from problem definition to solution implementation.
• Experience using AI tools in daily workflows.
• Strong communication skills for cross-functional collaboration with Risk Ops, Data, and Product teams.
• Demonstrated capacity to work independently and manage multiple priorities in a fast-paced setting.
• Comfort with ambiguous problems and the ability to structure solutions with limited initial information.
• Strong attention to detail and a methodical approach to analyzing complex data sets.
• Familiarity with financial services compliance and regulatory considerations is essential.
• A bachelor's degree or equivalent practical experience is required.
• Willingness to adhere to established risk policies and procedures without deviation.
• Ability to communicate findings clearly to stakeholders with varying levels of technical expertise.
• Commitment to maintaining the integrity and confidentiality of sensitive data at all times.

Nice to have

• Experience with credit risk, including underwriting models, decisioning logic, or portfolio analysis.
• Proficiency in Python for automation or advanced data analysis.
• Previous experience working in a startup or scale-up environment.

Practical notes

The interview process consists of four stages: a recruiter call, a conversation with the Risk Strategy Manager, a take-home case study with a follow-up discussion, and an in-person meeting with leadership. All employment offers are contingent upon a background check and employment verification via Certn. Please contact your Talent Partner if you require accommodations during the hiring process. The role is based in Toronto, Ontario, with a hybrid work arrangement that may require periodic presence in the office. Travel is not expected as part of the core responsibilities. Employment eligibility to work in Canada is required for this position. The compensation range provided reflects the target annual salary in Canadian dollars and is based on role, level, and relevant experience.