About the role
AI summarisedFraud Management Specialist at a bank, responsible for detecting, investigating, and preventing fraud in consumer banking. The role involves monitoring transactions, analyzing fraud patterns, conducting investigations, collaborating with law enforcement, and developing prevention strategies.
BusinessFull-timeGeneral
Key Responsibilities
- Monitoring accounts and transactions for suspicious activity using various tools and systems.
- Analysing fraud alerts and reports to identify potential fraud patterns and trends.
- Investigating fraud cases, gathering evidence and documenting findings by collaborating with outsourced service provider if necessary.
- Conducting in-depth investigations of suspected fraudulent activities and escalate cases accordingly.
- Interviewing customers, employees, and other relevant parties.
- Collaborating with law enforcement agencies and other internal teams (e.g., legal, compliance, ITD).
- Participate in Fidrec adjudication, when necessary.
- Developing and implementing fraud prevention strategies and controls.
- Educating customers, staff, and the public on fraud risks and prevention techniques.
- Recommending improvements to existing rules in fraud detection system and procedures/processes for operational efficiency and effectiveness.
- Preparing management reports and regulatory reports.
- Be conversant with relevant laws, regulations, and Bank policies.
Requirements
- Degree Professional Qualification and/or Regulatory, Licensing Requirements
- Technical and Regulatory Knowledge, relating to Fraud and Scams
- At least 5-10 years of relevant investigative experience in fraud risk and scam related areas is preferred
- Strong relationships with Law Enforcement Agencies will be a plus point
- Familiar with relevant Regulatory Acts/Notices/Advisories
- Strong analytical skill and eye for detail
- Good communication and interpersonal skills
- Independent, versatile and able to perform under pressure
- Knowledge of Consumer Banking business practices, processes and procedures
- Proficient in MS Word, Excel, PowerPoint & Fraud systems
- Analytical skills in data interpretation
- Investigation skill & reports preparation
- Visa/MasterCard Rules and Regulations including chargeback process
- Complaint Management matters on fraud and authorizations areas
- Proven track record of managing complex investigations with excellent analytical, problem-solving & risk mitigation
- Strong understanding of changing fraud and scams typologies in the financial industry for Consumer Banking
- Good communication skills, written and spoken with the ability to communicate at all levels
- Planning and organizing