Fraud Detection Analyst

Job Purpose

• To detect, analyze and investigate fraud cases within the commercial & transaction banking sector, ensuring the security and integrity of the bank's operations.
• The role involves formulating the mechanics and methodologies for fraud detection via system, manual review, and analysis for both old and new detection platforms, including catering to the new transaction monitoring requirements as laid out by regulators, third parties, agencies, and internal stakeholders to minimize risk and ensure compliance.

Key Responsibilities

• Fraud Detection: Formulate the methodologies and mechanics to detect fraud via manual analysis, identifying the patterns of anomalies and suspiciousness from the investigated/allocated attributes/datapoints. Develop new sources or routes of detection mechanics. Collaborate with internal stakeholders to establish the fraud detection manual workaround to support the current Fraud Detection system capability for analyzing anomalies and suspicious transactions involving merchants and customers.
• First Level Investigation: Investigate first-level detection cases based on the bank's internal fraud investigation process, determine whether a transaction is fraudulent, and update and escalate the case status accordingly.
• Collaboration and Communication: Work closely with departments such as the Customer Resolution Unit (CRU), Business Call Centre, Relationship Managers, Sales Managers, and external parties like PayNet and BNM to ensure comprehensive fraud monitoring and investigation.
• Reporting and Documentation: Prepare, update, and send fraud monitoring performance trackers and reports to relevant stakeholders on a regular basis.
• Process Improvement: Continuously improve the fraud detection process by incorporating feedback and lessons learned from previous cases to enhance efficiency and effectiveness.
• Callback Verification for Absentia, Killswitch, UMF, and Suspicious Transactions: This analyst role is expected to perform callback verification exercises to finalize the state of the detected, investigated, and reported accounts as positive fraud or negative fraud. The candidate must have the ability to communicate and ask validation questions professionally (training will be provided) based on the script and ad hoc non-script, and manage customers tactfully with high resilience under pressure.