BitGo is the leader in digital asset financial services, providing institutional investors with liquidity, custody, and security solutions. In 2020, BitGo launched Prime Trading and Lending, as well as BitGo Portfolio and Tax, providing clients with a full-stack solution for digital assets. In 2018, it launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo processes over 20% of all global Bitcoin transactions, and supports over 250 coins and tokens. BitGo’s customer base includes the world's largest cryptocurrency exchanges and institutional investors and spans more than 50 countries. BitGo is backed by Goldman Sachs, Craft Ventures, Digital Currency Group, DRW, Galaxy Digital Ventures, Redpoint Ventures, and Valor Equity Partners.
BitGo is looking to hire a Fraud Manager to occupy a crucial operational role for BitGo Trust Company. This role will report directly to the President of BitGo Trust Company and will oversee a team of two or more fraud specialists. We’re looking for an experienced Fraud operations professional with a strong background within financial services/banking who would be interested in working for a fast-moving startup within the exciting space of institutional cryptocurrency.
Location: Candidates must be in the vicinity of our Sioux Falls office
Job Summary:
As a Fraud Manager, you will be responsible for overseeing and managing all aspects of fraud prevention and detection within our crypto-based operations, with a specific focus on ACH (Automated Clearing House) fraud. This role requires a deep understanding of blockchain technology, cryptocurrencies, traditional banking systems, and financial fraud detection methodologies. You will work closely with cross-functional teams to develop and implement fraud prevention strategies, monitor transactions for suspicious activity across both crypto and ACH channels, investigate fraudulent incidents, and develop countermeasures to mitigate risks.
Responsibilities:
- Develop Comprehensive Fraud Prevention Strategies: Design and implement robust fraud prevention strategies tailored to both cryptocurrency and ACH transaction channels.
- Monitor Transactions Across Crypto and ACH Platforms: Utilize advanced tools and techniques to monitor blockchain transactions as well as ACH transactions in real-time, identifying and investigating suspicious activity.
- Investigate Fraudulent Incidents: Conduct thorough investigations into suspected fraudulent activity across both crypto and ACH channels, gathering evidence, analyzing data, and collaborating with relevant stakeholders.
- Implement Cross-Channel Risk Mitigation Measures: Develop and implement effective countermeasures to mitigate fraud risks across both crypto and ACH platforms, such as transaction monitoring systems, identity verification procedures, and fraud detection algorithms.
- Stay Abreast of Industry Trends: Keep up-to-date with the latest trends and developments in cryptocurrency and ACH fraud techniques and prevention methods, adapting strategies accordingly.
- Collaborate with Cross-functional Teams: Work closely with teams across the organization, including compliance, legal, risk, product, and technology, to ensure alignment on fraud prevention initiatives spanning both crypto and traditional banking domains.
- Provide Training and Guidance: Educate employees on fraud detection best practices across crypto and ACH platforms, providing training and guidance to enhance awareness and vigilance across the organization.
- Maintain Compliance: Ensure compliance with regulatory requirements and industry standards related to fraud prevention and detection in both cryptocurrency and ACH transaction environments.
- Generate Comprehensive Reports: Prepare regular reports on fraud trends, incidents, and mitigation efforts across crypto and ACH channels, providing insights to senior management and stakeholders.
Requirements:
- Bachelor's degree in Finance, Computer Science, or a related field. Advanced degree or professional certification (e.g., Certified Fraud Examiner) preferred.
- 5+ years experience in fraud management, preferably with a focus on both cryptocurrency and traditional banking systems.
- Deep understanding of ACH transactions, and related fraud risks.
- Strong analytical and investigative skills, with the ability to interpret complex data sets and identify patterns indicative of fraudulent activity across multiple transaction channels.
- Familiarity with fraud detection tools and techniques applicable to both crypto and ACH platforms, such as machine learning algorithms, data analysis software, and transaction monitoring systems.
- Excellent communication and interpersonal skills, with the ability to collaborate effectively with cross-functional teams and communicate complex concepts to non-technical stakeholders.
- Strong attention to detail and the ability to work effectively in a fast-paced, dynamic environment.
- Knowledge of regulatory requirements and compliance standards relevant to fraud prevention in both the cryptocurrency and traditional banking sectors.
- Ethical mindset and commitment to upholding the highest standards of integrity and professionalism.
Preferred Qualifications:
- Experience working with cryptocurrency exchanges, traditional banks, or financial institutions.
- Prior experience in investigating ACH fraud or other types of payment fraud.
- Familiarity with decentralized finance (DeFi) protocols and smart contract security best practices.
Note: This job description is intended to convey information essential to understanding the scope of the role and is not exhaustive. Duties, responsibilities, and qualifications may be adjusted as necessary to meet the evolving needs of the organization and industry.
Why Join BitGo?
Disrupting an industry takes vision, innovation, passion, technical chops, drive to deliver, collaboration, and execution. Join a team of great people who strive for excellence and personify our corporate values of ownership, craftsmanship, and open communication. We are looking for new colleagues who bring innovative ways of thinking and problem solving, and who want risks to be part of the team that changes the world’s financial markets.
Here are some of the benefits* of working at BitGo:
- Competitive base salary, bonus and stock options
- 100% company paid health insurance for employee, partner and dependents
- Up to 4% 401k company match
- Paid parental leave, Paid vacation
- Free commuter/parking pass; 5 min from Caltrain
- Free custom lunches, dinners and snacks
- Computer equipment and workplace furniture to suit your needs
- Great colleagues and inspiring startup environment
*Benefits may vary based on location
Cryptocurrencies are the most disruptive change the financial services industry has seen in years. Join us and you’ll be able to look back and say you were part of the team that transformed investing.
