Job Summary:
As a Fraud Detection and Investigations Agent at our Organisation, you will play a crucial role in identifying, investigating, and preventing fraudulent activities across various banking products and services. You will utilize your analytical skills and knowledge of banking regulations to detect suspicious transactions, conduct thorough investigations, and collaborate with internal stakeholders to mitigate fraud risks. The role requires a proactive approach to monitor and analyze transactional data, identify trends, and implement effective fraud prevention strategies to safeguard the bank and its customers.
Key Responsibilities:
1. Fraud Detection:
○ Monitor transactional activities and account behaviors to identify suspicious patterns indicative of fraud.
○ Utilize fraud detection tools, systems, and methodologies to analyze data and detect potential fraudulent activities.
○ Investigate alerts generated by fraud monitoring systems or reported by customers or other internal departments.
2. Investigations:
○ Conduct detailed investigations into suspected cases of fraud, including but not limited to account takeovers, identity theft, and payment fraud.
○ Gather and analyze evidence, interview relevant parties, and document findings in accordance with legal and regulatory requirements.
○ Prepare comprehensive investigation reports detailing findings, conclusions, and recommended actions for management review.
3. Collaboration:
○ Collaborate closely with internal departments, including Compliance, Risk Management, Legal, and Customer Service, to coordinate fraud prevention efforts and share intelligence.
○ Liaise with law enforcement agencies, regulatory bodies, and external stakeholders as necessary during fraud investigations.
4. Fraud Prevention and Risk Mitigation:
○ Develop and implement fraud prevention strategies and controls to mitigate emerging fraud risks.
○ Review and enhance existing fraud detection processes and procedures to improve efficiency and effectiveness.
○ Provide recommendations for system enhancements or procedural changes based on investigation outcomes and fraud trends.
5. Training and Awareness:
○ Conduct training sessions and workshops for bank staff on fraud prevention best practices, fraud trends, and detection techniques.
○ Raise awareness among customers regarding common fraud schemes and prevention tips to minimize risks.
6. Reporting and Compliance:
○ Prepare regular and ad-hoc reports on fraud trends, investigation outcomes, and key performance indicators (KPIs) for management and regulatory purposes.
○ Ensure compliance with banking regulations, legal requirements, and internal policies related to fraud detection and investigations.
