Fraud Analyst

Dicetek LLC; Sharjah; On-site; AED 60,000 - 100,000; Full time

Job summary

An established industry player is seeking a dedicated Fraud Analyst to enhance their fraud detection capabilities. This role involves performing in-depth fraud analysis, monitoring transactions, and coordinating investigations to mitigate risks effectively. The ideal candidate will have a strong background in fraud detection systems, analytical skills, and a proactive approach to identifying vulnerabilities. Join a dynamic team where your expertise will contribute to safeguarding financial transactions and ensuring compliance with regulatory standards. If you're passionate about fraud prevention and ready to make a significant impact, this opportunity is perfect for you.

Qualifications

• Minimum 2 years of experience in fraud detection or investigation within banking.
• Strong knowledge of financial products and digital payments fraud risks.

Responsibilities

• Perform fraud analysis and monitor transactions for potential fraud.
• Conduct investigations of fraud cases and document findings.

Skills

Fraud Analysis

Risk Management

Analytical Skills

Problem-Solving

Attention to Detail

Education

Bachelor's degree in Business, Finance, Computer Science, or related field

Certification in fraud prevention (e.g., CFE)

Tools

Fraud Detection Systems

Job description

Job Responsibilities

• The role involves performing fraud analysis of customer transactions by identifying, assessing, and mitigating fraud risks through effective controls, procedures, and training programs to lower risks pertaining to assigned areas.
• 24*7 monitor real-time and non-real-time transactions for potential fraud. Responsible for executing various aspects of transaction monitoring, fraud awareness, and related investigations.
• Utilize fraud detection systems to analyze data and identify unusual transaction patterns or behavior.
• Identify, assess, and document fraud risks across various channels, including Cards, IBMB, ATMs, IVR, digital wallets, and others.
• Proactively identify vulnerabilities in existing fraud detection measures and advise on enhancements.
• Conduct regular monitoring and analysis of patterns in fraud incidents, attempted fraud, and consumer complaints.
• Respond to fraud alerts and coordinate with relevant stakeholders for quick resolution.
• Conduct investigations of suspected or confirmed fraud cases and document findings. Generate reports for internal and external reporting.
• Co-ordinate with relevant departments, such as IAD Investigations team, Legal, business, InfoSec, Complaints dept, law enforcement agencies (LEA), member banks, regulatory authority, etc to conduct thorough investigations.
• Analyze evidence, gather information, and determine appropriate actions and remedial measures to address fraud incidents and record the incidents.
• Respond to LEA's and CBUAE inquiries and requests related to matters pertaining to transactional fraud.
• Maintain detailed logs of fraud incidents, including the type of fraud, actions taken, and outcomes.
• Prepare reports for senior management and regulatory bodies, such as the Central Bank, summarizing trends and incidents.
• Facilitate the filing of annual reports to regulatory authorities, including preventive measures taken.
• Work closely with the Information Security, Risk Assurance, and Complaints departments to address fraud-related issues.
• Coordinate with external parties such as law enforcement, third-party vendors, and regulatory bodies as necessary.

Qualifications Requirements

• Bachelor’s degree/Diploma in Business, Finance, Computer Science, MIS, Accounting, Information Security, or a related field.
• Certification in fraud prevention (e.g., Certified Fraud Examiner - CFE) is an added advantage.
• Minimum of 2 years of experience in fraud detection, investigation, or risk management within the banking sector.
• Experience working with fraud detection systems and tools, within a real-time 24x7 environment.
• Proven track record of handling fraud cases and coordinating with law enforcement and regulatory bodies.
• Strong knowledge of financial products, digital payments, and e-commerce fraud risks.
• Strong analytical and problem-solving skills with attention to detail.
• Ability to work in a fast-paced, high-pressure environment with a focus on delivering results.