Fraud Analyst

Job Description

A fraud analyst specializes in financial transaction monitoring analyzing 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.

Fraud analysts are responsible for tracking fraudulent activities, holding merchant/client settlement funds which further involve monitoring financial transactions and analyzing the data retrieved for irregular patterns.

Responsibilities

• 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.
• 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.
• Conducting the review of all triggered alerts based on the pre-defined rules in the fraud detection tool.
• Identify fraudulent trends and execute the appropriate action as per the unit process.
• 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.
• Follow the proper channel of escalation and ensure that all critical issues are reported on time to guarantee the repaid fix.
• Ensure that track records (documents) for all cases are properly produced and documented for history keeping.
• Initiate outbound calls to confirm transactions with merchant/issuing banks and update system appropriately.
• Initiate outbound fraud alert notification through email to the internal team, banks, merchants, and business teams.
• Respond to all inquiries (Banks, Merchants, Internal teams) professionally.
• Holding funds when it is a very suspicious activity to avoid losses to company
• Deliver efficient and quality services to both internal and external customers that meet or exceed agreed service standards
  
  

• Product knowledge, service standards, productivity and job analysis method.
• Excellent English language skills.
• experience with Credit Card Fraud, Merchant fraud
• +1 year working experience with Credit Card Fraud, Merchant fraud or in acquiring merchant business
• Experience with handling business customers.
• Knowledge of banking operations & acquiring business.
  
  

• Ability to apply sound judgment, effectively solve problems, and determine fraudulent activity consistently
• Ability to multi-task as business needs dictate with phone and typing required
• Excellent written and oral communication skills
• Ability to work in a fast paced call center environment meeting production goals.
• Schedule flexibility - must be available to work weekends and holidays as business needs arise
• Proficient with computers