What does a fraud examiner do?

A fraud investigator specializes in investigating and identifying fraudulent activities within a company and its clients. Their responsibilities depend on their line of work or industry of employment. However, most of the time, their duties will revolve around devising strategies and systems to detect inconsistencies, monitoring suspicious transactions and accounts, conducting reviews to identify any security lapses or vulnerabilities in the procedures, and teaching staff how to notice any fraudulent activities. Furthermore, it is vital to implement the policies and regulations of the company.

These skill sets are where the common ground ends though. The responsibilities of a fraud examiner are more likely to require skills like "fraud detection," "hr," "tax returns," and "financial statements." On the other hand, a job as a fraud investigator requires skills like "investigative reports," "criminal justice," "financial institutions," and "fraud claims." As you can see, what employees do in each career varies considerably.

Fraud analysts are responsible for monitoring bank accounts, accounting paperwork, and financial transactions. They analyze the data to identify any fraudulent and suspicious activities within an organization. Their duties and responsibilities may vary depending on which industries they work in. These may include keeping the confidentiality of any collected information, resolving customers' problems, and maintaining fraud analysis models to enhance the effectiveness and efficiency of company systems. Fraud analysts are also expected to provide recommendations for anti-fraud processes and new software tools to improve fraud detection and prevention.

Each career also uses different skills, according to real fraud examiner resumes. While fraud examiner responsibilities can utilize skills like "siu," "fraud detection," "law enforcement agencies," and "hr," fraud analysts use skills like "customer service," "fraud prevention," "sql," and "outbound calls."

A fraud specialist is responsible for tracking and monitoring illegal transactions on customers' financial accounts without the authorization of the account owner. Fraud specialists report any suspicious account movements and unusual transactions that may be risky to the financial institution and customers. They may suspend a flagged account temporarily until the investigation is complete, verifying all transaction details and keep all information confidential until further notice. A fraud specialist must have excellent communication and critical-thinking skills to identify and resolve financial cases immediately to prevent loss and reputational damage to the bank.

Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from fraud examiner resumes include skills like "siu," "fraud detection," "law enforcement agencies," and "hr," whereas a fraud specialist is more likely to list skills in "fraud losses," "inbound calls," "outbound calls," and "phone calls. "

An examiner is responsible for evaluating loan property and documents, assessing the property's value, and issuing a clear sale title upon ensuring no restrictions to the property. Examiners coordinate with banks, realty institutions, and other agencies to determine the property's status before proceeding with its sales release. They must be highly-knowledgeable with the real property disciplines and evaluation processes to perform the duty with utmost accuracy and efficiency. An examiner must also have excellent communication and analytical skills and adhering to federal laws and regulations.