Fraud Analyst

Fraud Analysts are responsible for monitoring a variety of transactions of clients to identify or report any suspicious behavior because the banking practices of the majority of accounts and clients typically do not change in time.

A Fraud Analyst's tasks are as follows:

• Bank Fraud Analysts: They examine bank accounts, money issues, accounting records and other financial documents and analyze the data to identify any possible fraud.
• Fraud Specialists: They're responsible for monitoring and tracing any financial transactions that are not authorized on the accounts of their clients.

Fraud Analyst Responsibilities:

• Analyzing large amounts of data to identify fraudulent patterns and trends.
• Utilizing fraud detection tools and techniques to identify and investigate potential fraud cases.
• Assessing and evaluating potential risks associated with fraudulent activities.
• Creating detailed reports and summaries on fraud cases for management and relevant stakeholders.

Major educational qualifications required for Fraud Analyst are:

• Holding a Bachelor's Degree in a related field like criminal justice, business, or a different area.
• In order to be considered for the job, you need to have previous experience for an investigation company in any field like government agencies or financial institutions
• An analytical mind with a sharp eye with a keen eye for details, and problem-solving skills.
• You must be self-motivated and a team player, flexible, and able to withstand stress in the workplace.
• The most important technical skills required for the job of Fraud Analyst include:
• Experience with and an understanding of Microsoft Word, Excel, and Outlook.
• Expert in Internet research and able to use several platforms at the same time.

Some Alternative job roles available for Food Scientist are:

• Senior Food Scientist: Designs and develops innovative food products, conducting research and implementing quality control measures to ensure safety and consumer satisfaction.

According to O*NET (Occupational Information Network), positions like Fraud Analyst & Financial Crime Investigator in the financial sector should experience a 5% to 8% growth by 2024. This proves that there will be considerable job openings in the position of Fraud Analyst in the near future. A Fraud Analysis and Financial Crime Investigation graduate can prepare a person for the fight against Fraud and enter into a lucrative and fulfilling career. Opportunities for Financial Examiners or Fraud Analysts are expected to increase by 18% between 2020 and 2030, according to the Bureau of Labor Statistics (BLS).