Product Manager

Toast creates technology to help restaurants and local businesses succeed in a digital world, helping business owners operate, increase sales, engage customers, and keep employees happy.

We're looking for a Product Manager for Fraud & Risk who wants to understand how fraud really happens and to build products that stop it at scale. You're comfortable with ambiguity and you like hard trade-offs, like loss vs. friction or automation vs. human review. Your decisions rest on data, customer insight and strong cross-functional partnerships. And last, but not least, you know that a team succeeds because of its people, and you want to help build an environment where we can all do our best work.

This is a chance to shape the risk platform behind one of the largest restaurant payments businesses in the US. You'll use machine learning and AI to protect restaurants and help Toast grow. 

Who We Are

The Fraud & Risk team keeps Toast, our restaurants and their guests safe from fraud and financial loss. We also make it fast and easy for restaurants to get onboarded and get paid. The team owns:

• Merchant onboarding and underwriting (KYC/KYB)
• Transaction and payout risk monitoring
• The fraud rules and decisioning platform
• Settlement reserves
• Chargebacks and disputes

Our job is to balance loss prevention against growth. We stop bad actors without adding friction for the great majority of restaurants that are doing the right thing. We work closely with Risk Operations, Payments, Compliance and Legal. We operate like a small startup with high ambitions and a focus on speed, experimentation and iteration.

A day in the life (Responsibilities) 

• Drive and prioritize the roadmap for your area of Fraud & Risk. Balance fraud loss reduction, merchant experience and business growth.
• Set the strategy for detecting and preventing fraud across the merchant lifecycle: onboarding, payments, payouts and disputes.
• Partner with data science and engineering to improve risk models, rules and decisioning. Define the right trade-offs between catching fraud and avoiding false positives.
• Build AI-driven automation that scales our risk and chargeback operations, such as agent-assisted reviews and automated dispute responses.
• Understand the needs of restaurants, their guests and our internal Risk Operations analysts. Use customer conversations, investigations, data analysis, ops feedback and industry intelligence.
• Define and own success metrics such as fraud loss rates, chargeback rates and win rates, auto-approval rates and operational efficiency.
• Work with Compliance, Legal, Payments and external partners such as processors, card networks and risk vendors to deliver solutions that are compliant and scalable.
• Write clear product requirements and work closely with designers and engineers to bring them to life.
• Be a great teammate, always.

What you'll need to thrive (Requirements)

• 3+ years of product management experience, ideally in fraud, risk, payments, fintech, or trust & safety
• A working knowledge of the payments ecosystem: card networks, processors and acquirers, chargebacks and disputes, and KYC/KYB
• Strong analytical skills. You're comfortable digging into data yourself, with SQL as a strong plus, and you understand how ML models and rules engines make decisions.
• Sound judgment in weighing risk against customer friction, and the ability to make good calls with incomplete information, including during live fraud incidents
• Proven ownership of a product that supports company strategy and meets defined business objectives
• A track record of working well with cross-functional partners, especially operations, compliance and legal teams
• T