Fraud Risk Investigator & Prevention Lead

CIMB Singapore; Singapore; On-site; SGD 70,000 - 90,000; Full time

Job summary

A financial institution in Singapore is seeking a Fraud Detection Specialist to monitor accounts for suspicious activity and investigate fraud cases. The successful candidate will develop prevention strategies, communicate effectively with customers, and collaborate with law enforcement agencies. A degree and at least 5-10 years of relevant investigative experience are required, along with strong analytical skills. This role offers the opportunity to make a significant impact in fraud management and prevention in the banking sector.

Qualifications

• 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.

Responsibilities

• Monitor accounts and transactions for suspicious activity using various tools.
• Conduct in-depth investigations of suspected fraudulent activities.
• Develop and implement fraud prevention strategies and controls.
• Provide support and guidance to customers who are victims of fraud.

Skills

Strong analytical skill and eye for detail

Good communication and interpersonal skills

Planning and organizing

Independent, versatile and able to perform under pressure

Technical and Regulatory Knowledge, relating to Fraud and Scams

Education

Degree

Tools

MS Word

Excel

PowerPoint

Fraud systems

Job description

• 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.
  
  

Responsibilities

JOB DESCRIPTION

Fraud Detection and Analysis

• 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.
  
  

Investigation and Resolution

• 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.
  
  

Fraud Prevention

• 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.
  
  

Reporting and Compliance

• Preparing management reports and regulatory reports.
• Be conversant with relevant laws, regulations, and Bank policies.
• Staying updated on the latest fraud trends and regulatory changes.
  
  

Customer Support

• Providing support and guidance to customers who have been victims of fraud.
• Assisting with account recovery and providing advice on fraud prevention.
  
  

Collaboration and Communication

• Collaborating with internal stakeholders within the Bank and externally with Regulators/SPF/Anti-Scam Centre/peer banks and fraud risk industry counterparts to share information and coordinate efforts.
• Communicating effectively with customers, both verbally and in writing.
  
  

Requirements

Qualifications

• Degree
  
  

Professional Qualification and/or Regulatory, Licensing Requirements

• Technical and Regulatory Knowledge, relating to Fraud and Scams
  
  

Relevant Work Experience

• 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
  
  

Technical/Functional Skills

• 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
  
  

Personal Skills (Soft Competencies)

• Good communication skills, written and spoken with the ability to communicate at all levels
• Planning and organizing