What does a senior fraud analyst do?
A Senior Fraud Analyst performs extensive research and analyses to detect suspicious transactions and determine fraudulent activities in financial institutions or business establishments. Their responsibilities typically revolve around monitoring financial transactions and documents, gathering and analyzing various data, conducting account assessments, validating information, and thoroughly reviewing documents. There are also instances where they must set objectives, establish guidelines, produce progress reports, and resolve issues promptly and efficiently. Moreover, as a senior fraud analyst, it is essential to lead and serve as a role model for junior fraud analysts, overseeing their performance while implementing company policies and regulations.
Senior fraud analyst responsibilities
Here are examples of responsibilities from real senior fraud analyst resumes:
- Manage reporting, investigating identity thefts, identifying account take over and AML, conducting compliance audits and account closures as needed
- Assist domestic and international teams with SQL queries, bug resolutions and foreign language support.
- Follow OFAC procedures and regulations on application that trigger a match on the SDN list.
- Conduct internal and external evaluations with information and corporate security via SQL queries.
- Organize and maintain investigative files and document control of files and exhibits for investigations and litigation.
- Maintain the credit team SharePoint site with the updated project flowcharts, business requirement documents, fictional specification documents and presentations.
- Complete daily tally, communication logs, benefit updates, medical policy reviews and review policies and procedures using SharePoint applications.
- Increase users knowledge/awareness how to maximize PayPal services and security
Senior fraud analyst skills and personality traits
We calculated that 12% of Senior Fraud Analysts are proficient in SQL, Fraud Risk, and Fraud Prevention. They’re also known for soft skills such as Empathy, Good judgment, and Leadership skills.
We break down the percentage of Senior Fraud Analysts that have these skills listed on their resume here:
- SQL, 12%
Trained junior agents in SQL query creation, modification, and exportation of results to MS Excel.
- Fraud Risk, 8%
Identify innovative solutions using existing systems to mitigate fraud risk.
- Fraud Prevention, 7%
Utilized skip tracing techniques locating identity theft victims educating on id protection and fraud prevention.
- Strong Analytical, 6%
Demonstrated strong analytical and business problem solving skills; able to understand complex business system functionality and develop strategies.
- Fraud Losses, 5%
Evaluated current fraud trends using Excel and applied new strategies that consistently reduced fraud losses to under half the industry average.
- Outbound Calls, 5%
Make outbound calls to take appropriate action based on suspicious activity pertaining to Identity Theft.
Most senior fraud analysts use their skills in "sql," "fraud risk," and "fraud prevention" to do their jobs. You can find more detail on essential senior fraud analyst responsibilities here:
Empathy. The most essential soft skill for a senior fraud analyst to carry out their responsibilities is empathy. This skill is important for the role because "police officers need to understand the perspectives of a variety of people in their jurisdiction and be willing to help the public." Additionally, a senior fraud analyst resume shows how their duties depend on empathy: "know and understanding all fraud types, i.e., identity theft, transaction fraud, check fraud, tax fraud. "
Good judgment. Another soft skill that's essential for fulfilling senior fraud analyst duties is good judgment. The role rewards competence in this skill because "police and detectives must be able to determine the best way to solve an array of problems." According to a senior fraud analyst resume, here's how senior fraud analysts can utilize good judgment in their job responsibilities: "reviewed credit applications for potential fraud risk using judgmental approaches exceeded monthly goals of customer care and procedural audits"
Leadership skills. This is an important skill for senior fraud analysts to perform their duties. For an example of how senior fraud analyst responsibilities depend on this skill, consider that "police officers must be comfortable with being a highly visible member of their community, as the public looks to them for help in emergencies." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a senior fraud analyst: "identified new fraud trends in the market and conveyed findings to leadership and fraud team personnel. ".
Physical strength. For certain senior fraud analyst responsibilities to be completed, the job requires competence in "physical strength." The day-to-day duties of a senior fraud analyst rely on this skill, as "police officers must be strong enough to physically apprehend suspects and to assist people in precarious situations." For example, this snippet was taken directly from a resume about how this skill applies to what senior fraud analysts do: "assessed loan structure, pricing, strengths and weaknesses, and credit quality. "
Communication skills. Another skill commonly found on senior fraud analyst job descriptions is "communication skills." It can come up quite often in senior fraud analyst duties, since "police and detectives must be able to speak with people and to express details in writing about an incident." Here's an example from a resume of how this skill fits into day-to-day senior fraud analyst responsibilities: "detailed documentation of account activities, analysis of fraud trends and communication to management of such activities. "
The three companies that hire the most senior fraud analysts are:
- BJ's Wholesale Club45 senior fraud analysts jobs
- Bank of America37 senior fraud analysts jobs
- RELX11 senior fraud analysts jobs
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Compare different senior fraud analysts
Senior fraud analyst vs. Credit representative
Credit representatives are professionals who analyze the credit data and the financial statements of firms or individuals for the determination of the risk in lending money or extending credit. The representatives are tasked to prepare reports with credit information used in decision making. They manage credit files and process credit reports from different credit reporting sources. They also mentor and coach credit representatives newly hired in corporate procedures and policies. Also, they expand collection procedures and policies to lessen DSO parameter risk.
While similarities exist, there are also some differences between senior fraud analysts and credit representative. For instance, senior fraud analyst responsibilities require skills such as "sql," "fraud risk," "fraud prevention," and "strong analytical." Whereas a credit representative is skilled in "patients," "credit card payments," "credit balances," and "payment arrangements." This is part of what separates the two careers.
Credit representatives tend to make the most money working in the construction industry, where they earn an average salary of $39,878. In contrast, senior fraud analysts make the biggest average salary, $84,732, in the start-up industry.credit representatives tend to reach lower levels of education than senior fraud analysts. In fact, credit representatives are 6.2% less likely to graduate with a Master's Degree and 0.3% less likely to have a Doctoral Degree.Senior fraud analyst vs. Escrow representative
A credit officer is responsible for evaluating financial documents and account statements to determine the eligibility of an applicant for a loan option. Credit officers communicate with the applicant to discuss the loan process, explain the terms of service, and provide them alternative options that would fit their payment ability and loan needs. They create financial reports and recommend the qualified applicant to the manager for approval. A credit officer should have excellent communication and analytical skills, ensuring that the loan policies adhere to the federal and state regulations.
Each career also uses different skills, according to real senior fraud analyst resumes. While senior fraud analyst responsibilities can utilize skills like "sql," "fraud risk," "fraud prevention," and "strong analytical," escrow representatives use skills like "property taxes," "respa," "residential loans," and "fha."
In general, escrow representatives achieve similar levels of education than senior fraud analysts. They're 4.6% less likely to obtain a Master's Degree while being 0.3% less likely to earn a Doctoral Degree.Senior fraud analyst vs. Credit officer
There are many key differences between these two careers, including some of the skills required to perform responsibilities within each role. For example, a senior fraud analyst is likely to be skilled in "sql," "fraud risk," "fraud prevention," and "fraud losses," while a typical credit officer is skilled in "risk management," "credit risk," "credit analysis," and "real estate."
Credit officers earn the best pay in the finance industry, where they command an average salary of $120,621. Senior fraud analysts earn the highest pay from the start-up industry, with an average salary of $84,732.Most credit officers achieve a higher degree level compared to senior fraud analysts. For example, they're 6.7% more likely to graduate with a Master's Degree, and 0.3% more likely to earn a Doctoral Degree.Senior fraud analyst vs. Credit negotiator
Types of senior fraud analyst
Updated January 8, 2025
