Fraud Analyst

5 days ago

Sharjah, Sharjah, United Arab Emirates Dicetek LLC Full time
Job Responsibilities
  • The role involves performing fraud analysis of customer transactions by identifying, assessing, and mitigating fraud risks through effective controls, procedures, and training programs to lower risks pertaining to assigned areas.
  • 24*7 monitor real-time and non-real-time transactions for potential fraud. Responsible for executing various aspects of transaction monitoring, fraud awareness, and related investigations.
  • Utilize fraud detection systems to analyze data and identify unusual transaction patterns or behavior.
  • Identify, assess, and document fraud risks across various channels, including Cards, IBMB, ATMs, IVR, digital wallets, and others.
  • Proactively identify vulnerabilities in existing fraud detection measures and advise on enhancements.
  • Conduct regular monitoring and analysis of patterns in fraud incidents, attempted fraud, and consumer complaints.
  • Respond to fraud alerts and coordinate with relevant stakeholders for quick resolution.
  • Conduct investigations of suspected or confirmed fraud cases and document findings. Generate reports for internal and external reporting.
  • Co-ordinate with relevant departments, such as IAD Investigations team, Legal, business, InfoSec, Complaints dept, law enforcement agencies (LEA), member banks, regulatory authority, etc to conduct thorough investigations.
  • Analyze evidence, gather information, and determine appropriate actions and remedial measures to address fraud incidents and record the incidents.
  • Respond to LEA's and CBUAE inquiries and requests related to matters pertaining to transactional fraud.
  • Maintain detailed logs of fraud incidents, including the type of fraud, actions taken, and outcomes.
  • Prepare reports for senior management and regulatory bodies, such as the Central Bank, summarizing trends and incidents.
  • Facilitate the filing of annual reports to regulatory authorities, including preventive measures taken.
  • Work closely with the Information Security, Risk Assurance, and Complaints departments to address fraud-related issues.
  • Coordinate with external parties such as law enforcement, third-party vendors, and regulatory bodies as necessary.
Qualifications Requirements
  • Bachelor's degree/Diploma in Business, Finance, Computer Science, MIS, Accounting, Information Security, or a related field.
  • Certification in fraud prevention (e.g., Certified Fraud Examiner - CFE) is an added advantage.
  • Minimum of 2 years of experience in fraud detection, investigation, or risk management within the banking sector.
  • Experience working with fraud detection systems and tools, within a real-time 24x7 environment.
  • Proven track record of handling fraud cases and coordinating with law enforcement and regulatory bodies.
  • Strong knowledge of financial products, digital payments, and e-commerce fraud risks.
  • Strong analytical and problem-solving skills with attention to detail.
  • Ability to work in a fast-paced, high-pressure environment with a focus on delivering results.
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