Full-Time
Director – Risk & Fraud
Posted on 10/31/2025
Wave Financial
201-500 employees
Free invoicing and accounting with payroll
No salary listed
Toronto, ON, Canada
Remote
 Finance & Banking (12) |
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- Bachelor's Degree in Business, Finance, Risk Management or related Field.
- 10 years of experience in fraud or risk roles in fintech, payments, or banking industry, including experience leading a high-performing team that includes managers or team leads.
- Experience using Alloy, Plaid, and credit bureau vendors.
- Certified Fraud Examiner (CFE) Certification or similar designation.
- Extensive experience with fraud and risk management in both Canadian and U.S. financial ecosystems, including knowledge of regulatory requirements.
- Experience with chargeback operations.
- Understanding of AI/ML risk detection technologies.
- Previous experience scaling risk functions.
- Strong analytical and reporting skills, with experience developing KPIs and dashboards.
- Deep understanding of fraud prevention tools, onboarding risk, and transaction monitoring.
- Define and oversee the development and monitoring of key performance indicators for the risk and fraud teams and provide regular reporting/metrics to leadership including maintaining accurate loss forecasts.
- Oversee a team of risk analysts, team leads, and managers, and Lead and develop a high-performing, risk team by setting strategic direction, coaching leadership, and ensuring operational excellence.
- Own and evolve Wave’s enterprise fraud and risk management framework, including long-term strategy and annual roadmap.
- Oversee and manage the risk and fraud department’s budget, ensuring optimal allocation of resources and alignment with overall financial goals.
- Design, implement, and continuously refine risk and fraud policies, ensuring they effectively mitigate exposure across all business lines.
- Establish and maintain robust procedures and partner with product to proactively detect, prevent, and respond to fraudulent activities.
- Work with internal partners to develop and implement strategies, policies and processes to minimize fraud, shrink and chargebacks.
- Create and develop risk and underwriting performance reporting to drive awareness of decision accuracy and performance.
- Partner with CX teams to review escalations and manage recourse programs.
- Monitor industry and competitive trends to ensure Wave is aligned from a regulatory and market perspective.
- Provide oversight and guidance on complex or high-risk escalations, ensuring consistency with risk policies and business objectives.
- Act as a Subject Matter Expert on projects to improve and streamline Risk functions.
- Be a thought leader on technology and AI and how it can be used to improve employee and customer outcomes.
- Act as a key partner to Legal, Compliance, Finance, Product, and Engineering teams to embed risk mitigation across product design and customer experience.
- Own vendor relationships and roadmap for risk tooling (e.g., onboarding verification, transaction monitoring, chargeback mitigation).
- Lead incident response and root cause analysis for major fraud or risk events.
- Foster a risk-aware culture across the organization through education and influence.
- Ensure Wave’s fraud and risk programs align with regulatory requirements and industry best practices.
Wave Financial provides free financial software for small businesses, freelancers, and independent contractors, including invoicing, accounting, and receipt scanning, with optional paid features for payment processing and payroll. It works as a unified platform where users can create invoices, track expenses, manage books, and scan receipts, with payment processing fees starting at 1% and payroll handling taxes and filings. The core suite is free and tightly integrated, offering a cheaper, simpler alternative to heavier accounting software like QuickBooks. The goal is to help small businesses manage their finances easily and keep cash flow healthy by offering an affordable, comprehensive fintech toolkit.
Company Size
201-500
Company Stage
Acquired
Total Funding
$486.1M
Headquarters
Toronto, Canada
Founded
2009
Simplify's Take
What believers are saying
- Wave Perks expands ecosystem with PolicyMe insurance partnerships.
- Check integration simplifies payroll for 300,000 microbusinesses.
- Paid Wave Pro tier monetizes freemium base since 2024.
What critics are saying
- Check API outsources payroll, eroding proprietary technology control.
- Bluevine and Fundbox divert payments from Wave's 1% fees.
- Insurance referrals fragment platform into mere hub.
What makes Wave Financial unique
- Wave offers free core accounting and invoicing software indefinitely.
- Wave Perks integrates Bluevine banking and Fundbox capital access.
- Check partnership enables payroll across all 50 U.S. states.
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Benefits
Remote Work Options
Health Insurance
Wellness Program
Professional Development Budget
Flexible Work Hours
Paid Holidays
Paid Sick Leave
Company News
PolicyMe partners with Wave. March 31, 2026 New collaboration brings life and critical illness insurance to small business owners. PolicyMe and Wave have partnered to give small business owners access to affordable life insurance and critical illness coverage. Together, they're helping protect entrepreneurs and self-employed Canadians protect their families and their businesses from unexpected financial challenges. How can small business owners get life insurance? For small business owners, securing life insurance has traditionally been complicated and time-consuming. Unlike employees who often have access to group insurance benefits through their workplace, small business owners typically need to navigate the insurance market on their own. Many put it off entirely, leaving both their families and their businesses vulnerable. This partnership changes that. Through Wave Perks, small business owners can now access PolicyMe's life and critical illness insurance products with a fully digital application process that takes just minutes to apply. PolicyMe's online process removes the need for in-person meetings, making it easier for busy entrepreneurs to secure coverage quickly and affordably. "At Wave, we've always believed small businesses deserve the same financial tools and protections as large enterprises. By partnering with PolicyMe, we're giving entrepreneurs access to insurance coverage that protects what they've worked so hard to build." - Adnan Glavas, Director of Strategic Partnerships at Wave Do small business owners need life and critical illness insurance? Running a small business comes with unique financial risks. Many entrepreneurs personally guarantee business loans, leases, and credit lines. Without life insurance for small business owners or critical illness coverage, these obligations could fall on their families in the event of serious illness or unexpected death. Unlike traditional employees with employer-sponsored benefits, self-employed individuals and small business owners need to proactively secure their own safety net. Life insurance and critical illness insurance provide that protection - ensuring personal assets are safeguarded and businesses can continue operating during difficult times. "Small business owners shouldn't have to choose between growing their business and protecting their family. Our referral partnership with Wave brings affordable, modern insurance to small business owners through a platform they already trust and use." - Andrew Ostro, CEO of PolicyMe Benefits of life & critical illness insurance for small business owners The new offering through Wave Perks is designed to help small business owners: * Protect personal assets: Ensure families aren't burdened by business debts or personal financial obligations in the event of illness or death. * Maintain business continuity: Access lump-sum payouts that can cover operational costs, payroll, or outstanding loans - keeping the business running during challenging times. What insurance options are available? Life insurance PolicyMe offers life insurance with flexible coverage amounts and terms ranging from 10 to 30 years, giving small business owners the ability to tailor coverage to their needs and budget. Coverage provides a tax-free payout to beneficiaries and can help cover debts, replace income, or support business continuity. Critical illness insurance Critical illness insurance provides a lump-sum, tax-free payment if you're diagnosed with a covered condition. These funds can be used however you need - whether for medical expenses, living costs, or keeping your business running. Wave supports entrepreneurs at every stage This partnership reflects Wave's ongoing commitment to championing small businesses throughout their journey, from starting to thriving. More than 300,000 small businesses rely on Wave for invoicing, payments, and accounting. Now, those same entrepreneurs can access critical financial protection with life and critical illness insurance through Wave Perks, alongside the tools they already use. Wave continues to evolve alongside the needs of the small business community, ensuring they have the resources to build sustainable, resilient businesses. Through this partnership, PolicyMe extends that support by providing accessible, modern insurance designed for small business owners. Together, PolicyMe and Wave are helping entrepreneurs build stronger, more resilient businesses. Small business owners can explore PolicyMe's life and critical illness insurance offerings, as well as many other offerings, through Wave Perks. Learn more.
Loop ends broken banking data for businesses with Canada's first Direct API infrastructure for accounting. Feb 24, 2026, 08:30 ET As Canada moves toward formal Open Banking policies, Loop becomes the first business banking platform to deliver dedicated API connectivity for QuickBooks, Xero, and Wave, replacing outdated "screen scraping" technology for sharing businesses' financial data. TORONTO, Feb. 24, 2026 /CNW/ - Loop, the leading global financial platform for Canadian businesses, today launched Direct API Connectivity for QuickBooks Online, Xero, and Wave. Loop is the first business banking provider in Canada to build dedicated infrastructure for these platforms. By replacing legacy "screen scraping" with high-fidelity API infrastructure, Loop provides Canadian SMEs a stable, secure, and precise way to sync global banking data into their accounting tools. Previously, Canadian businesses relied on systems that "scraped" banking data by simulating human logins to connect to accounting platforms. These connections are fragile-frequently breaking when banking interfaces change and requiring constant re-authentication. Loop's new direct integration solves this pain, creating a secure, permanent digital bridge that syncs transaction data with higher precision and security. "Financial data is the lifeblood of any growing company, yet for too long, Canadian founders have been forced to rely on technology that belongs in the early 2000s," said Cato Pastoll, CEO of Loop. "When a bank feed breaks, it doesn't just create an error message; it halts month-end closes, creates blind spots in cash flow analysis, and forces finance teams to waste hours on manual data entry. We built this direct infrastructure because our customers deserve a financial operating system that works as hard as they do-without interruption." Key Benefits of Loop's Direct API Connectivity: * Zero Downtime: By removing screen scraping, the connection remains stable regardless of website updates. * Enhanced Security: Direct APIs use tokenized authentication, meaning users never share banking credentials with third parties. * Clean Data: The direct link eliminates duplicate transactions and missing entries, reducing reconciliation time. * Multi-Currency Support: Designed for Loop's global user base, the integration seamlessly handles multi-currency transactions. While the broader Canadian financial industry remains in a decade-long holding pattern waiting for formal Open Banking to arrive, Loop is delivering on the promise of data portability today. Rather than keeping customer data siloed until regulators force a change, Loop is taking a proactive stance, recognizing that business owners have a fundamental right to move their financial data seamlessly into the tools they rely on. By voluntarily building this direct infrastructure now, Loop is moving ahead of the regulatory curve and setting a new standard for transparency. This move proves that financial providers don't need to wait for government mandates to empower businesses with true data sovereignty and the operational efficiency that comes with it. "We are treating accounting connectivity as a core product feature, not an afterthought," added Pastoll. "This launch is another step in our mission to automate the administrative burden of running a business, so founders can focus on growth." The new Direct API integrations are available immediately to all Loop customers at no additional cost. Users can activate the connection directly from their Loop dashboard settings. About Loop Loop is a modern financial platform built for Canadian businesses that operate globally, backed by leading fintech investors including Luge Capital and Mistral Venture Partners. By combining multi-currency corporate cards, local global accounts, and FX management into a single platform, Loop enables companies to send, receive, and spend money around the world without hidden fees or friction. SOURCE Loop Financial Inc. For further information: James Rutledge, Head of Growth, [email protected]
Introducing Wave Perks: your hub for small business growth. Running a small business means wearing every hat - bookkeeper, manager, operator, and visionary. From managing the books and chasing invoices to securing capital and protecting your assets, it takes a lot to build something of your own. At Wave, its mission has always been to empower small businesses and solopreneurs with tools for financial confidence. That's why Wave Financial Inc. is thrilled to introduce Wave Perks, a new hub designed to help you discover trusted partners, powerful tools, and exclusive offers that make running and growing your business smarter, all in one place. Wave Perks brings together a meticulously curated network of trusted partners, integrated directly into your Wave experience to help you save time, reduce costs and focus on what you do best: growing your business. You'll find powerful partnerships to help you manage cash flow, handle payments, access banking tools and secure insurance coverage, including Bluevine, Dream Payments, Fundbox and Zensurance. Best-in-class banking with Bluevine. Bluevine offers a powerful yet simple digital-first banking platform that delivers exceptional value. Joint customers can sync their banking and payments data directly between the platforms for a seamless user experience. To celebrate this partnership, US-based Wave customers can get six free months of Wave Pro and three free months of Bluevine's upgraded checking plans, unlocking premium tools across both platforms. Seamless payments with Dream Payments. Wave Financial Inc. has teamed up with Dream Payments to enable your small business to send digital payments securely with just a few clicks. With Dream Payments, you can pay vendors across Real-Time Payments (RTP), Interac e-Transfer, EFT, and Virtual Cards. The offering provides greater cash flow visibility with real-time payment tracking and automated confirmations as well as self-onboarding tools for vendors. Dream Payments is simplifying vendor payments and helping you focus on what matters most: running your business. Capital for growth and stability with Fundbox. Cash flow gaps are one of the biggest challenges for growing US-based businesses. That's why Wave Financial Inc. has partnered with Fundbox to bring you data-driven access to capital. Through this integration, you can now explore and apply for capital in just a few clicks. Fundbox's capital engine evaluates your business's financial profile by analyzing data from multiple sources, including your invoices and bank transactions, leading to fast, fair, and inclusive credit decisions. Essential protection with Zensurance. For its Canadian small business owners, Wave Financial Inc. is introducing Zensurance, a partner dedicated to helping you protect your hard work with affordable, customized insurance coverage. Zensurance helps you secure the right policy and save time by providing a convenient and affordable way to buy business insurance online. Zensurance clients can access an exclusive offer of 50% off the first three months of Wave's Pro Plan. Ready to dive in? Your business deserves every advantage. With Wave Perks, they're all in one place. Wave Financial Inc. will be regularly adding new partnerships to ensure you always have access to the best resources for your business. To explore all the exclusive offers, discounts, and services waiting for you, simply log in to your Wave account and click the Perks tab in the left-side menu. If you'd like to learn more about how to join its trusted network of partners, please reach out directly to Adnan Glavas on its partnership team at [email protected]. Log into your Wave account and check out Wave Perks today!
It is a testament to the business-to-business (B2B) landscape that firms tend to pivot toward, and not away, from it. After all, you hear a lot more about one-time business-to-consumer (B2C) firms embracing B2B channels than vice-versa. But that doesn’t mean that the B2B landscape, for all its attractions, is an easy one to thrive within. Fortunately, a suite of modern innovations is transforming the landscape by helping B2B firms solve long-standing legacy frictions, as well as keep an eye on what can’t be controlled for — at least not yet. That’s why PYMNTS keeps an ear to the ground, listening for all of the latest initiatives. The top themes we heard this week were around the benefits of workflow automation; the need of smaller firms for flexible financing solutions; and why operational visibility is at its most important when uncertainty is the only certainty
Payroll infrastructure company Check has teamed with Wave, a money management platform for small businesses. The collaboration, announced Wednesday (April 3), will let the more than 300,000 small businesses using Wave access “full-service payroll functionality” in all 50 U.S. states. “Payroll has long been a growth hurdle for small businesses due to its complexity,” Check said in a news release. “There are 11,000 U.S. payroll jurisdictions, and the administrative burdens that come with proper tax calculation, form filing, and remittance can be stifling for small business owners who are often wearing multiple hats across HR, marketing and more.”