Fraud Analyst, Secured Lending

About Upstart At Upstart, we’re united by a mission that matters: to radically reduce the cost and complexity of borrowing for all Americans. Every day, we bring creativity, experimentation, and advanced AI to reshape access to credit, helping millions move forward financially with clarity and confidence. As the leading AI lending marketplace, we partner with banks and credit unions to expand access to affordable credit through technology that’s both radically intelligent and deeply human. Our platform runs over one million predictions per borrower using more than 3,000 signals, powering smarter, fairer decisions for millions of customers. But the numbers only hint at the impact. Every idea, every voice, and every contribution moves us closer to a world where credit never stands between people and their financial progress. We’re proudly digital-first, giving most Upstarters the flexibility to do their best work from wherever they thrive, alongside teammates across 80+ cities in the US and Canada. Digital-first doesn’t mean distant. We’re intentional about in-person connection through team onsites, planning sessions, and moments that spark creativity and trust. And whether you choose to work primarily from home or collaborate in-person from one of our offices in Columbus, Austin, the Bay Area, or New York City, you’ll have the support to work in the way that works best for you. If you’re energized by tackling meaningful problems, excited to innovate with purpose, and motivated by work that truly matters, we’d love to hear from you. The Team: Upstart’s Secured Lending Fraud Oversight function is the Bank’s first-line fraud detection, investigation, and monitoring across the HELOC and Auto Lending business lines. As a business unit function, the team owns fraud risk identification, investigation of suspected fraudulent activity, referral package preparation, and fraud trend analysis and reporting. The fraud function operates with direct access to loan files, origination data, and dealer and channel relationships — enabling the depth and speed of investigation that the Bank’s fraud risk profile demands. The team works in close coordination with the Secured Lending Quality Control function: QC analysts escalate fraud indicators identified during file reviews, and fraud analysts provide fraud-focused review support during lower-volume periods, consistent with a documented cross-utilization protocol and independence safeguards. As a Fraud Analyst, you will own day-to-day fraud detection and investigation for your assigned product line(s). You will investigate suspected fraud across the entire loan life cycle from application through loan servicing; identify and document emerging typologies and fraud patterns; prepare escalation and SAR referral packages for review; and partner with Operations, Risk, Compliance, and Legal to strengthen fraud controls across the business. This is an opportunity for an experienced fraud professional who is energized by building investigation programs in a fast-paced, technology-driven lending environment — and who wants to operate at the intersection of fraud, compliance, and AI-powered risk controls. How you’ll make an impact • Own first-line fraud detection and investigation across your assigned secured lending product line(s), monitoring for suspicious activity and fraud indicators across application, origination, and servicing • Investigate key fraud risks and emerging typologies, including application fraud, identity fraud (true-name and synthetic), income and employment misrepresentation, collateral fraud, and Auto dealer-related fraud patterns • Investigate product specific fraud typologies including occupancy misrepresentation, valuation inflation, and undisclosed liabilities or loan stacking • Prepare comprehensive fraud escalation and SAR referral packages for review — documenting facts, evidence, typology, and recommendations • Conduct early payment default (EPD) fraud file reviews — performing fraud indicator review on loans reaching 60+ days past due within 90 days of origination • Monitor and analyze fraud trends across origination channels, including application fraud rates, dealer-level fraud indicators, geographic concentrations, synthetic identity patterns, and channel-level risk signals; producing fraud metrics and trend reporting • Maintain dealer fraud scorecards (Auto) and channel-level fraud indicator tracking, including pattern-based referrals and dealer suspension triggers in coordination with Vendor Management and dealer oversight functions • Integrate closely with the Secured Lending QC team — triage fraud-related alerts surfaced by the QC Engine’s daily monitoring output; provide typology and red flag feedback to improve detection rules and origination controls • Coordinate across Operations, Compliance, Legal, and Risk on fraud control enhancements, law enforcement information requests, and regulatory response support • Proactively identify regulatory risks related to fraud in your product line(s) and adjacent areas, including obligations under OCC Bulletin 2019-37, FFIEC BSA/AML Manual, Red Flags Rule (12 CFR Part 41, Subpart J), 12 CFR 21.11, and product-specific fraud risk requirements • Support examination readiness by maintaining audit-ready fraud investigation case records, typology documentation, and program evidence aligned with OCC, FDIC, and CFPB expectations Minimum Qualifications • 3+ years of experience in fraud investigation, fraud analytics, or financial crimes within consumer lending, banking, or a regulated financial institution • Bachelor’s degree or equivalent practical experience • Experience investigating consumer lending fraud — including application fraud, identity fraud, income/employment misrepresentation, and collateral fraud • Experience preparing fraud investigation case documentation — fact and evidence assembly, typology analysis, and written escalation packages for compliance or legal review • Familiarity with SAR referral processes, 12 CFR 21.11 SAR thresholds and timelines • Working knowledge of BSA/AML program requirements applicable to consumer lending, including CIP/CDD, OFAC screening, suspicious activity monitoring, and Red Flags Rule obligations • Working knowledge of OCC enterprise fraud risk management and FFIEC BSA/AML Manual requirements relevant to fraud investigation and suspicious activity reporting • Experience with fraud trend analysis — application fraud rate monitoring, typology identification, channel and geographic concentration analysis • Ability to manage own workload, meet deadlines, and proactively communicate risk to timelines with minimal supervision • Strong cross-functional collaboration skills — able to work effectively with Operations, Compliance, Legal, and Risk on fraud escalation and control improvement initiatives Preferred Qualifications • Experience investigating dealer channel fraud, including power booking, ghost down payments, straw purchases, VIN cloning, title washing, and F&I product abuse • Experience maintaining dealer-level fraud scorecards and pattern-based dealer monitoring or suspension workflows • Experience investigating collateral fraud typologies in home equity lending — occupancy misrepresentation, appraisal inflation, undisclosed liabilities/loan stacking • Familiarity with CIP/CDD execution requirements and fraud red flags in account draw activity and maintenance • Experience identifying fraud indicators across income, identity, appraisal, and title documentation within origination files • Certified Fraud Examiner (CFE) designation or active progress toward CFE certification • Experience with fraud metrics reporting to management committees (Credit Committee, Risk Committee, or equivalent) • Familiarity with EPD review processes and OCC fraud loss classification requirements • Ability to translate investigation findings into structured, examination-ready documentation for OCC, FDIC, or CFPB review • Collaborative approach to working across fraud, compliance, legal, and quality control functions in a fast-paced fintech environment Position location This role is available in the following locations: Remote Travel requirements As a digital first company, the majority of your work can be accomplished remotely. The majority of our employees can live and work anywhere in the U.S but are encouraged to to still spend high quality time in-person collaborating via regular onsites. The in-person sessions’ cadence varies depending on the team and role; most teams meet once or twice per quarter for 2-4 consecutive days at a time. #LI-Associate At Upstart, your base pay is one part of your total compensation package. The anticipated base salary for this position is expected to be within the below range. Your actual base pay will depend on your geographic location–with our “digital first” philosophy, Upstart uses compensation regions that vary depending on location. Individual pay is also determined by job-related skills, experience, and relevant education or training. Your recruiter can share more about the specific salary range for your preferred location during the hiring process. In addition, Upstart provides employees with target bonuses, equity compensation, and generous benefits packages (including medical, dental, vision, and 401k). United States | Remote – Anticipated Base Salary Range $115,800—$160,100 USD What you’ll love At Upstart, our benefits for full-time employees are designed to support your health, financial well-being, family, and personal growth. Here’s what you can expect: • Competitive compensation, including base pay, bonus opportunities, and annual equity grants that vest quarterly • Retirement benefits to help you plan for the future, including a 401(k) or Group Retirement Savings Plan with a company match of $2 for every $1 contributed, up to $15,000 annually (USD in the US, CAD in Canada) • Employe