Fraud Analyst (Fintech)

Client of 6 Pence

Job Purpose:

• The Fraud Analyst is responsible for monitoring, analyzing, and responding to potential fraud activities across the Mobile Payment Application platforms.
• The role focuses on handling fraud alerts, managing compliance queues for customer limit increase requests, reviewing MOI FINCOP cases, and supporting fraud prevention strategies.
• The analyst will work closely with internal departments and external regulators to ensure that fraud risks are effectively identified, mitigated, and documented in line with regulatory requirements.

Duties & Responsibilities:

Fraud Monitoring & Investigation:

• Monitor daily fraud alerts generated through transaction monitoring systems, analyze suspicious activities, and escalate confirmed or potential fraud cases.
• Review flagged transactions and customer activity based on predefined rules, behavioral trends, and red flags.
• Identify fraud patterns and recommend real-time or post-event controls and adjustments.
• Maintain an up-to-date knowledge of fraud typologies relevant to digital wallets, prepaid cards, and mobile financial services.

Compliance Queue Management:

• Review and assess customer requests for limit increases (transactional or wallet-based), ensuring alignment with Company's risk appetite, customer profile, and transaction history.
• Validate supporting documents, risk indicators, and source of funds for high-value requests.
• Ensure appropriate approval workflows and audit trails are maintained for all processed cases.

FINCOP Queue Handling (MOI):

• Review and respond to FINCOP notifications received via the Ministry of Interior (MOI) interface.
• Conduct internal reviews and gather relevant KYC/transaction records for each case.
• Coordinate with the MLRO/DMLRO to ensure timely and accurate responses to law enforcement inquiries.

Reporting & Documentation:

• Prepare and maintain case documentation, investigation notes, and outcome summaries in accordance with internal and regulatory standards.
• Support the preparation of periodic fraud reports for senior management, the Risk & Compliance Committee (RCMC), and auditors.
• Assist in developing and updating standard operating procedures (SOPs) related to fraud response, customer limit approvals, and regulatory handling.

Fraud Prevention & Enhancement:

• Provide input into the enhancement of fraud detection rules, models, and dashboards.
• Collaborate with IT, Product, and Customer Support teams to improve preventive controls and customer experience.
• Contribute to training programs and awareness sessions on fraud risks and preventive measures.