Fraud Investigator / Analyst

Network For Electronic Transfers (S); Singapore; On-site; SGD 60,000 - 100,000; Full time

Job summary

Join a leading payments services group as a Fraud Investigator/Analyst, where you'll play a crucial role in safeguarding digital transactions. This position involves monitoring fraud risks, developing robust fraud controls, and ensuring compliance with international standards. You'll collaborate with various teams to enhance fraud detection processes and provide training on best practices. This is an exciting opportunity to make a significant impact in the financial services industry while working in a dynamic and innovative environment.

Qualifications

• 3-4 years of experience in fraud prevention or risk management.
• Strong understanding of merchant fraud risks and typologies.

Responsibilities

• Monitor and manage fraud risks related to NETS products.
• Conduct training on fraud flags and internal escalation processes.

Skills

Fraud Detection

Risk Management

Attention to Detail

Communication Skills

Problem-Solving

Education

Bachelor's degree in Business

Bachelor's degree in Finance

Bachelor's degree in Risk Management

Tools

Fraud Detection Systems

Payment Gateways

Transaction Monitoring Tools

Job description

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Company: Network For Electronic Transfers (S)

The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.

The Group operates Singapore’s national debit scheme enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 130,000 acceptance points in the country as well as online payments.

Position Summary

As a Fraud Investigator/Analyst in the1 Line of Defence (LOD), you will be responsible for monitoring and managing fraud risks related to NETS products and ensuring effective fraud mitigation practices. You will also review escalations from Sales & Channel, Merchant Business, Consumer Business and Customer Service and Operations to provide timely level 1 assistance on potential fraudulent transactions before escalation to 2LOD for further investigation. Additionally, you will ensure compliance with international scheme requirements from business and operational perspective.

Key Responsibilities

• Fraud Monitoring, Detection and Investigation :
  • Operate business product systems/platforms (e.g. DA Online) to detect abnormal merchant behaviour, transaction patterns, or terminal misuse.
  • Develop fraud controls for new product/channels to ensure that they are robust and safeguard NETS from fraud risk.
  • Review escalated fraud cases from Customer Service & Operations, Banks/SPF/Schemes/Partners or Sales.
  • Conduct level 1 review of suspicious fraudulent cases and prepare internal escalation to the 2LOD for filing of STR or Form 1 reporting per PSN03 requirements.
• Scheme Compliance Review : Regularly review fraud management processes to ensure alignment with international payment scheme standards.
• Business Procedures/Processes : Develop and maintain relevant business procedures, workflows covering business fraud detection, handling, merchant communication, and reporting.
• Training & Awareness : Conduct training for Sales & Channel, Merchant Business, Consumer Business and Customer Service and Operations on fraud flags, scheme rules, and internal escalation processes.

Requirements

Education and Experience

• Bachelor’s degree in business, Finance, Risk Management or a related field
• At least 3-4 years of experience in fraud prevention, risk management, or a related role, particularly in the payments or financial services industry
• Experience with fraud detection systems, payment gateways, and transaction monitoring tools

Skills and Knowledge

• Strong understanding of merchant fraud risks and typologies
• Familiarity with payment systems
• Knowledge of fraud detection tools and systems
• Familiarity with international scheme standards and compliance
• Attention to Detail :
  • High attention to detail in identifying fraud signals, anomalies, and vulnerabilities in merchant transactions and refund activities
• Communication :
  • Strong communication skills to collaborate with merchants, internal teams, and regulatory bodies
• Problem-Solving :
  • Ability to develop adequate control measures to mitigate fraud risks
• Ability to work with cross-functional teams, stakeholders and merchant partners to reduce fraud risks

Network for Electronic Transfers (Singapore) Pte Ltd.