Director of Fraud and Merchant Risk Operations, Toast
$154-246k
Point of sale and management system for restaurants
Be an early applicant
Point of sale and management system for restaurants
1001+ employees
Be an early applicant
$154-246k
1001+ employees
Company mission
Toast's mission is to enrich the food experience for all.
Role
Who you are
- 10+ years in fraud/trust & safety, merchant risk, payments, or related operations at a PayFac/PSP, acquirer, fintech, or marketplace, with a record of reducing loss while improving customer experience
- 5+ years leading managers and multi-disciplinary operations teams; proven in org design, workforce management, QA, and training at scale (including 24/7 coverage)
- Breadth across multiple product domains—payments (CP & CNP), embedded finance/money movement (ACH/RTP/push-to-card), lending/working-capital, and payroll; ability to tailor controls to each risk surface
- Strong command of merchant compliance and partner requirements, including card-network monitoring programs and dispute frameworks
- Track record implementing tooling and automation (case management, rule engines, device/behavioral intelligence, bank-account verification, data enrichment) and managing vendor ecosystems with measurable ROI
- Analytical fluency (dashboards, SQL is a bonus), with comfort instrumenting KPIs, capacity models, and control-effectiveness metrics; evidence-based decision-making under pressure
- Exceptional cross-functional influence with Product, Data Science, Legal, and Compliance; adept at translating operational insights into policy and tooling changes
What the job involves
- Our Fraud & Merchant Risk Operations team is the frontline that protects our merchants and our platform
- This team handles the full lifecycle across Fraud, Merchant Risk, and Merchant Compliance—from pre-onboarding to transaction monitoring, product-abuse prevention, account access and ATO response, chargebacks/representment, reserves/holds, and offboarding
- We’re seeking a strategic, execution-minded Director of Operations to lead this function end-to-end across Toast’s entire product suite—including Payments, Embedded Finance, and Payroll
- You’ll design the operating model and SLAs, scale the team and tooling, run incident response, and deliver measurable reductions in loss and friction
- You’ll partner closely with Product, Fraud Strategy, Legal, and Compliance, while providing a rigorous feedback loop to sharpen controls and enable confident growth
- Own the end-to-end operating model for Fraud, Merchant Risk, and Merchant Compliance across the merchant lifecycle (prospect loans, pre-onboarding/KYB, transaction monitoring, product-abuse prevention, account access/ATO, chargebacks/representment, reserves/holds, and offboarding)
- Define policies, SOPs, SLAs, and escalation pathways; maintain an auditable control environment with strong QA and knowledge management
- Set and track operational KPIs (fraud rate, chargeback ratio, approval rate, manual review rate, false-positive rate, SLA adherence, fraud losses)
- Lead cross-functional war rooms during fraud waves and high-severity events; conduct postmortems and implement preventive hardening
- Lead a multi-level analyst pool supporting all Toast products; implement workforce management (capacity models, scheduling, adherence) across diverse queues and time zones
- Drive the development of training and QA programs; drive productivity and quality improvements through coaching, calibration, and playbook refinement
- Onboarding: Operate onboarding controls including KYB/KYC verification, business model and MCC validation, document collection and EDD workflows, bank-account ownership/verification, and exception handling
- Payments: Manage card-present and card-not-present fraud queues, dispute operations, merchant settlement risk, and network program adherence
- Embedded Finance: Oversee ACH risk, debit and credit card programs, Capital disbursements, returns and unauthorized claims, account linking and verification, disbursement controls, and limits management
- Payroll: Lead controls for employer/employee identity, payroll-diversion and direct-deposit changes, and impersonation attempts
- Minimize customer friction while meeting SLAs; ensure effective escalations and remediation
- Translate operational needs into requirements for case management, rule engines, alerting, link/graph analysis, and data enrichment
- Prioritize and validate tooling enhancements; evaluate third-party vendors in collaboration with Strategy (identity/KYB/KYC, device/behavioral intelligence, bank-account verification, consortium data) and drive ROI via clear success criteria
- Operationalize policies, rules, and models; provide ground-truth feedback on efficacy, friction, and emerging patterns across each product line
- Run structured experiments with Product/Data Science; define success metrics, execute controlled rollouts, and lead post-launch reviews
- Deliver clear, data-driven readouts on risk posture, incidents, operational performance, and capacity needs to executive leadership
- Example KPIs you’ll own/influence: Fraud/chargeback rates; ATO; review SLA adherence; approval/conversion and false-positive rate; representment win rate; fraud loss; analyst productivity
Our take
Running a restaurant means managing a stressful set of elements, all needing to work together seamlessly to create a good experience for diners. Toast helps to streamline processes, and puts an end to piles of paperwork, by providing a platform whereby tableside ordering, menu modifications, labour management, payroll, and more are all housed in one system that can run from a tablet.
Toast offers restaurant-grade hardware and cloud-based, customisable payment solutions to serve clients from startup through to growth phase, as well as a service for established restaurants. By combining all the digital services a restaurant might need, the platform can act as the one and comprehensive solution for restaurants of any size, avoiding restaurateurs from having to invest in a range of technologies.
Toast has over 70,000 restaurants on its books, from food trucks to national brands, and its mobile ordering and payment solutions have made it a recognized brand for consumers. The company's IPO in 2021 saw it valued at over $30 billion and since then, it has added more features to its product suite including wholesale and catering order tools. Toast then, has proven its place as an indispensable player in the restaurant space.
Freddie
Company Specialist at Welcome to the Jungle
Insights
28% employee growth in 12 months
Company
Funding (last 2 of 6 rounds)
Feb 2020
$400m
SERIES F
Apr 2019
$250m
SERIES E
Total funding: $899m
Company benefits
- Peer and company recognition programs
- Unlimited Vacation
- Sabbatical opportunity after five years
- Professional Development Reimbursement Program
- Commitment to Employee Wellness through resources such as a quarterly Wellness Stipend
- Various peer and company recognition programs
- 401(k) and matching
- Medical, Dental, & Vision Coverage
- Mental Health Benefits
- Subsidized backup childcare
Company HQ
Fort Point Channel Landmark District, Boston, MA
Leadership
Steve Fredette
(Co-Founder & President)They studied at MIT before co-founding Klick Mobile in 2009 and spending almost 7 years at Endeca. They left their Management role in June 2012 having co-founded Toast in May.
Aman Narang
(Co-Founder & CEO)Having studied Computer Science at MIT, they worked at Endeca for 5 years. They moved from working as Product Manager to work full-time as President of Toast in 2013, having co-founded it the previous year.
Jonathan Grimm
(Co-Founder & CTO)They also studied Computer Science at MIT before working as an Engineer for Endeca for over 4 years. They worked at Oracle for 5 months prior to co-founding Toast in May 2012.
Share this job
View 92 more jobs at Toast