Fraud Prevention Analyst

Job Summary:

The Fraud Prevention Analyst is responsible for monitoring fraud alerts, analyzing suspicious activities, and taking immediate action to prevent financial loss and/or legal exposure. The role engages with both internal units and external parties to act on and mitigate fraud risks and protect the interest of the Bank and its clients.

How will you contribute:

Operational and Day-to-day Activities

• Monitors and analyzes alerts from the Enterprise Fraud Management System (EFMS) and other sources to determine whether these alerts are actual internal or external fraud or false positives.
• Assesses various information regarding the fraud alert, such as transaction history, amount, date, time, behavior, geographic location, velocity/frequency, and risk classification. Coordinates with branches and other business units as needed to confirm transaction legitimacy.
• Handles both inbound and outbound calls with clients to validate suspicious transactions, answer inquiries, and provide support for fraud-related concerns.
• Takes immediate action on validated and confirmed fraud cases, such as placing holds, blocking accounts, or restricting cards. Handles accounts reported as compromised in fraudulent transactions.
• AFASA-Related Tasks: Coordinates with other banks to request holds on accounts and/or funds for confirmed fraud cases under the Anti-Financial Account Scamming Act (AFASA) protocols.
• Inquiries: Handles fraud-related inquiries from internal branches and other units via phone and email.
• Collaboration: Assists in collaborating with other departments (e.g., Information Security, IT, Operations, Operations Risk, Legal, Compliance, HR, etc.) on fraud-related matters, such as sharing fraud trends, mitigating operational risks, ensuring legal and regulatory compliance, conducting internal investigations, and providing critical support.
• Identifies and escalates new internal and external fraud trends to the Unit Head and Department Head. Maintains a log of confirmed fraudulent transactions to help in developing and refining fraud prevention strategies and rules.
• Prepares and submits fraud management information (MI) and other reports for internal and external stakeholders.
• Performs site visits to conduct fraud risk-related assessments/investigations, e.g. surprise branch visits, internal and external investigation, etc.

What will make you successful:

• Graduate of any related degree or field of study
• 2-5 years of working experience in a similar or related field
• Knowledge in Bank Operations, Risk Management, Fraud Investigations & Monitoring, Data Analytics, System Analysis
• Good communication skills and decision-making skills