Fraud Risk Analyst at I&M Bank

Purpose

The Senior associate in enterprise Fraud Risk Monitoring, with a specialization in card and merchant fraud, is a key member of the risk management team. This role will involve supporting the implementation of strategies and procedures to monitor and mitigate fraud across the enterprise, particularly focusing on card and merchant transaction fraud. The associate will work under the guidance of Senior Manager fraud risk management and contribute to the detection, analysis, and reporting of fraud-related activities.

Primary Responsibilities

• Monitor card and merchant transactions for signs of fraudulent activity, maintaining and operating fraud detection systems and tools. 
• Collect and analyse data related to card and merchant transactions to identify potential fraud risks and interpret data patterns and trends.
• Prepare initial reports on suspicious activities for further investigation and maintain accurate records and documentation of fraud monitoring activities. 
• Identify and evaluate risks associated with card products, such as credit cards, debit cards, and prepaid cards, ecommerce.
• Analyse trends and patterns in card usage to anticipate potential risks.
• Develop and update risk models to predict and manage credit and fraud risks.
• Ensure card services comply with relevant laws, regulations, and standards (e.g., PCI-DSS for card security).
• Stay informed about regulatory changes and adapting risk management strategies accordingly.
• Work with compliance teams to prevent money laundering and other illegal activities through card transactions.
• Work collaboratively with other departments, such as IT and customer service, call centre, cards operations to gather information and enhance fraud monitoring processes.
• Participate in cross-functional meetings and discussions related to fraud risk.
• Assist in the technical aspects of fraud detection tools, including basic troubleshooting.
• Stay abreast of technological advancements in fraud detection and risk management.
• Assist in the response to detected fraud incidents under the direction of Senior team members.
• Develop educational materials and programs to inform customers about safe card usage and fraud prevention.
• Provide support and guidance to customers affected by fraud or security breaches.

Person Specifications

• Bachelor’s degree in a relevant field such as Finance, Criminal Justice, or Information Technology.
• At least two (2) years' experience working in risk management of a financial services/Fintech (preferred), payments or technology (growth) company.
• Professional / Technical Qualifications / Diplomas: Certified Fraud Examiner (CFE), Professional Certified Investigator (PCI) or other similar qualification.
• Basic understanding of fraud risk management, particularly in card and merchant transactions.
• Strong analytical skills and attention to detail.
• Good communication and interpersonal skills.
• Ability to work in a fast-paced and dynamic environment.
• Eagerness to learn and adapt to new challenges.