Risk Control Manager - Fraud Risk Oversight (Payments)

Location: London, United Kingdom; hybrid, with most teams meeting in the office 2–3 days per week.

Salary: £89,764–£102,331 GBP per year.

Company

Klarna is a licensed bank building an everyday finance network for more than 120 million consumers across 26 countries, with lending, payments, and AI-enabled financial products.

What you will do

• Define and maintain the fraud risk taxonomy, risk appetite statements, key risk indicators, methodology, policy, and periodic risk assessments.
• Independently test and challenge first-line fraud controls, including rules engines, machine learning models, and manual review processes.
• Challenge risk acceptance decisions and remediation plans, negotiate timelines, and provide independent opinions on new products, markets, and material changes.
• Produce fraud risk management information and dashboards for risk committees and the Board, using model outputs, loss data, and first-line reporting.
• Monitor emerging fraud typologies, external threat intelligence, incidents, losses, and control breaches; escalate material issues.
• Track PSD2/PSD3, APP fraud reimbursement rules, and local AML and fraud regulation; support regulatory exams and coordinate with Financial Crime Compliance, Legal, and Internal Audit.

Requirements

• 7+ years of experience in fraud or risk, including fraud in payments and lending.
• Experience with APP fraud, account takeover, synthetic identity, first-party fraud, and merchant fraud.
• Practical experience applying the Three Lines of Defense, risk appetite setting, and RCSA.
• Ability to review models without building them and interpret precision, recall, drift, and back-testing results.
• Ability to distinguish between a declining fraud rate caused by lower fraud and one caused by a looser risk appetite.
• Experience negotiating remediation timelines or risk acceptances with owners balancing growth, customer friction, and cost.
• Clear writing and presentation skills for risk committees and Board stakeholders, including non-specialists.
• CV must be provided in English.

Nice to have

• First-line experience in fraud strategy, analytics, product, or engineering.
• Experience supporting a regulatory exam or responding to a supervisory request on fraud risk.

Culture & Benefits

• Co-located working is valued, with office attendance typically 2–3 days per week depending on the team.
• Non-obvious backgrounds and diverse skills, perspectives, and experiences are welcome.
• Final compensation depends on qualifications, skills, and experience.