Job Description

Responsibilities:

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