Product Manager

About the job

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

- The ability to thrive and self-prioritize across multiple projects in a fast-paced environment with tight deadlines

- Active use of AI tools and best practices in your own work to drive efficiency

- Exceptional attention to detail

Embrace and advocate for the use of AI tools to accelerate product discovery, streamline execution, and explore new product experiences - helping shape how we build and what we build.

AI at Toast

At Toast, one of our company values is that we're hungry to build and learn. We believe learning new AI tools empowers us to build for our customers faster, more independently, and with higher quality. We provide these tools across all disciplines, from Engineering and Product to Sales and Support, and are inspired by how our Toasters are already driving real value with them. The people who thrive here are those who embrace changes that let us build more for our customers; it’s a core part of our culture.

Our Total Rewards Philosophy

We strive to provide competitive compensation and benefits programs that help to attract, retain, and motivate the best and brightest people in our industry. Our total rewards package goes beyond great earnings potential and provides the means to a healthy lifestyle with the flexibility to meet Toasters’ changing needs. Learn more about our benefits at https://careers.toasttab.com/toast-benefits .

How Toast Uses AI in its Hiring Process

Throughout the hiring process, our goal is to get to know you. We use AI tools to support our recruiters and interviewers with tasks like note-taking, summarization, and documentation of interviews to ensure they can be fully focused on your conversation. All hiring decisions are made by people. We ask that you complete interviews and assessments on your own, without real-time AI tools, recording, or transcription bots, unless we tell you otherwise in advance. To learn more: https://careers.toasttab.com/ai-in-hiring

Our Approach to Hybrid Working

We embrace a hybrid work model that fosters in-person collaboration while valuing individual needs. Our goal is to build a strong culture of connection as we work together to empower the hospitality community, regardless of location. Please visit the Locations page on our career site to learn more about our in-office expectations by region: https://careers.toasttab.com/locations-toast

People Are the Secret Ingredient in Our Recipe for Success

At Toast, our employees are our secret ingredient—when they thrive, we thrive. The restaurant industry brings together people with a wide range of backgrounds, experiences, and perspectives, and we value that same breadth at Toast. We strive to build a culture grounded in authenticity, respect, and humility, where every Toaster has a real opportunity to grow, contribute, and do their best work—raising the bar in delivering exceptional experiences for our customers and each other.

Apply today!

Toast is committed to creating an accessible and inclusive hiring process. As part of this commitment, we strive to provide reasonable accommodations for persons with disabilities to enable them to access the hiring process. If you need an accommodation to access the job application or interview process, please contact candidateaccommodations@toasttab.com .

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