Required for one of the leading Banks in Bahrain, Fraud monitoring agents for newly established team.
Required total of 6 agents.
overview
A fraud monitoring agent plays a crucial role in detecting and preventing fraudulent activities related to credit and debit cards, digital channels, and money transfers. Here are the main duties typically associated with this role:
Main Duties of a Fraud Monitoring Agent
1. **Transaction Monitoring**:
- Continuously review and analyze transactions for suspicious activity using automated systems and manual checks.
- Identify unusual patterns or behaviors that could indicate fraud.
2. **Fraud Detection**:
- Utilize data analytics and fraud detection tools to spot anomalies in transaction data.
- Investigate flagged transactions to determine legitimacy.
3. **Risk Assessment**:
- Assess the risk levels of transactions and accounts based on transaction history and behavior.
- Implement risk mitigation strategies for high-risk transactions.
4. **Reporting and Documentation**:
- Document findings and maintain accurate records of investigations.
- Prepare reports detailing suspicious activities and potential fraud cases for further review.
5. **Collaboration**:
- Work closely with other departments (e.g., compliance, customer service) to address fraud-related issues.
- Coordinate with law enforcement and regulatory bodies when necessary.
6. **Customer Communication**:
- Contact customers to verify suspicious transactions and provide information on fraud prevention.
- Educate customers about recognizing and reporting fraud.
7. **Policy Development**:
- Assist in developing and updating fraud prevention policies and procedures.
- Stay informed about industry trends, emerging fraud schemes, and regulatory changes.
8. **Training and Awareness**:
- Participate in training programs to stay updated on fraud detection techniques and technologies.
- Train other staff members on recognizing signs of fraud and proper reporting procedures.
9. **Technology Utilization**:
- Use advanced software and tools for monitoring and analyzing transactions.
- Stay updated on technological advancements in fraud prevention.
10. **Incident Response**:
- Respond promptly to suspected fraud incidents and escalate cases as needed.
- Implement measures to prevent future occurrences based on investigation outcomes.
Skills Required
- Strong analytical and problem-solving skills.
- Attention to detail and ability to spot discrepancies.
- Excellent communication skills for customer interaction and reporting.
- Familiarity with fraud detection software and tools.
- Understanding of financial regulations and compliance standards.
Being effective in this role requires vigilance, quick decision-making, and a proactive approach to identifying and mitigating potential fraud risks.
Job Types: Full-time, Part-time
Pay: BD500.000 - BD800.000 per month
Expected hours: 8 per week
Application Deadline: 12/10/2024