Fraud Monitoring Analyst

Fraud analyst specializes in financial transaction monitoring analysing suspicious activities that could potentially include fraud. The job responsibilities of a fraud analyst include 24/7 fraud transaction monitoring, action the detected fraud cases, report the fraud cases to scheme, analyzing the point of compromise, provide feedback on Fraud Rules effectiveness and recommend enhancement to the fraud rules. Immediate notification to internal teams and merchants/clients.

This job role is responsible to manage the operations of the fraud monitoring, execute standards and practices for fraud control and management to minimize exposure to fraud losses, ensuring that the BAU task is performed accurately. He/she is responsible for developing, implementing, and modifying coaching programs to ensure effectiveness of programs delivered to team members

1. Monitor merchant/transactional-based card spends on a 24x7 basis as per company procedures, agreed service standards and in accordance with agreed controls and procedures.
2. Contact cardholders and merchants on suspicious activities on their card/merchant accounts and take necessary actions as per company procedures in accordance with agreed controls and TAT’s.
3. Conducting the review of all triggered alerts based on the pre-defined rules in the fraud detection tool.
4. Identify fraudulent trends and execute the appropriate action as per the unit process.
5. The daily set target of alerts evaluation to be achieved per shift, and all queued alerts to be cleared maintaining no pending alerts by Shift and on timely manners.
6. Follow the proper channel of escalation and ensure that all critical issues are reported on time to guarantee the repaid fix.
7. Ensure that track records (documents) for all cases are properly produced and documented for history keeping.
8. Initiate outbound calls to confirm transactions with merchant/issuing banks and update system appropriately.
9. Initiate outbound fraud alert notification through email to the internal team, banks, merchants, and business teams.
10. Respond to all inquiries (Banks, Merchants, Internal teams) professionally.
11. Holding funds when it is a very suspicious activity to avoid losses to company.
12. Deliver efficient and quality services to both internal and external customers that meet or exceed agreed service standards.
13. Adhere to the internal and external Audit / Compliance requirements in the Unit/organization.
14. Determining problems or issues in queries or complaints handling nature and proposing solutions for Enhancements.
15. Review all declines, rejects and non-3D secure transactions in order to update fraud tool data base with IP address, emails, device finger-print, and others
16. Ensure that E-com merchant related requests and queries are responded on time and within the agreed TAT.
17. Develop and implement operating prevention/detection procedures in line of new initiatives and fraud trends and suggest policy related recommendations to the business on acquiring fraud monitoring.
18. Deliver all the required support /task assigned on ADHOC requirement from the management. Provide the reporting that is required and case closure within the agreed time. This is in line with the unit goal to form a successful backup program with multi skills players.

19. Work with the Assistant Manager ensure schemes’ best practices and regulatory rules are adhered to, ensuring solving the fraud related issues in compliance with the scheme, client and NI policies and procedures. 

     

• Education: 

  Educated to Degree level from a recognized university with fluency English.

• Experience:
  At least 3 years of experience in an payments/ finanical space.
  At least 2 years of experience in Fraud & Risk monitoring and analysis.
• Strong analytical and problem-solving skills.

• Excellent English language skills.