Fraud & Risk Analyst
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Key skills for this role
About the Role
About the Role: We are seeking a highly skilled and experienced Fraud & Risk Analyst to join our team. The ideal candidate will have proven experience in fraud risk management and possess a strong analytical mindset to identify and mitigate fraudulent activities.
Key Skills for This Role
Full Job Posting
About The Role
- We are seeking a highly skilled and experienced Fraud & Risk Analyst to join our team. The ideal candidate will have proven experience in fraud risk management and possess a strong analytical mindset to identify and mitigate fraudulent activities.
- The role involves monitoring transactions, processes, and operational activities for fraud prevention purposes; detecting suspicious patterns, transactions, and behaviors through data analysis; and investigating potential fraud cases. The role contributes to financial loss mitigation, ensures regulatory compliance, and supports the protection of the company’s reputation while maintaining a robust fraud risk governance framework.
- Excellent communication and presentation skills are essential for this role.
- This position reports to the Head of Risk.
Key Responsibilities
- Monitor and analyze transactions, processes, and operational activities to detect suspicious behavior and potential fraud.
- Identify, assess, and mitigate fraud risks using data-driven and analytical approaches.
- Support the development and implementation of fraud detection strategies, tools, and processes.
- Analyze data to identify anomalies, trends, and emerging fraud patterns.
- Conduct thorough investigations of suspected fraud cases and document findings.
- Escalate confirmed or high-risk fraud cases to relevant stakeholders in a timely manner.
- Collaborate with cross-functional teams to enhance fraud prevention measures and internal controls.
- Support the continuous improvement of fraud monitoring mechanisms and control frameworks.
- Prepare detailed reports and presentations on fraud trends, investigation outcomes, and key risk indicators.
- Communicate findings, insights, and recommendations clearly to management and stakeholders.
- Ensure adherence to applicable regulatory requirements, internal policies, and fraud risk frameworks.
- Assist in the preparation of regulatory reports and responses related to fraud incidents.
- Support internal and external audits, regulatory reviews, and compliance assessments.
- Stay updated on relevant regulations (e.g., DFSA/DIFC, AML/CTF) and incorporate requirements into fraud risk practices.
Team Collaboration
- Work closely with IT, Finance, Operations, and other departments to ensure effective fraud detection and prevention.
- Participate in regular team meetings to discuss ongoing cases and share insights.
- Provide training and guidance on fraud awareness and detection techniques.
- Foster a collaborative environment to continuously improve fraud prevention strategies.
Technical Skills
- Fraud analytics (predictive modelling, anomaly detection)
- Insurance domain knowledge (life, health, general insurance) preferred
- Investigation techniques and forensic analysis
- Risk assessment and control design
- Strong data handling and analytical tools (Excel, Power BI)
Soft Skills
- Strong analytical and problem-solving ability
- High ethical standards and integrity
- Attention to detail
- Stakeholder management and communication skills
- Ability to make sound decisions under uncertainty
Education & Qualifications
- Bachelor’s degree in Finance, Risk Management, Computer Science, or a related field
- Relevant certifications such as CFE, CAMS, or ICA (Financial Crime Compliance) are an advantage
Experience
- Minimum 5 years of experience in fraud detection and fraud risk management
- Exposure to claims and underwriting fraud preferred
- Experience with data analytics-driven fraud detection
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