Fraud Monitoring Analyst

About the Role

The Fraud Monitoring Analyst is responsible for monitoring and reporting transaction risk aspects from the perspectives of issuers, acquirers, and E-Channels. This role involves reviewing transaction activity, detecting fraud, and liaising with concerned departments, cardholders, and merchants to address any issues. The analyst will perform daily checks for suspicious or fraudulent transactions based on pre-set parameters, with the aim of reporting all findings to the Head of Card Fraud. Additionally, the analyst will set up cardholder disputes and resolve unauthorized transactions for E-Channels customers and merchants.

Key Accountabilities of the Role

Fraud Monitoring is conducted 24/7 across the following channels:

1. E-Channel Transactions Monitoring:

   • Retail Internet Banking Transactions
   • Retail Mobile Banking Transactions
   • WBG/BBD Internet Banking Transactions
   • WBG/BBD Mobile Banking Transactions
   • IVR Transactions
   • WhatsApp Transactions
   • Wallet Transactions
   • Other Channels Aani Transactions

2. Debit & Cover Card Monitoring:

   • Compromised Card Transactions
   • Social Engineering Transactions
   • Base II Transactions
   • Hold Transaction Monitoring
   • VVIP Customer Card Authorization Monitoring

Responsibilities include:

• Monitor real-time queues 24/7 and identify high-risk transactions using Fraud Monitoring Tools.
• Handle incoming and outgoing customer calls for transaction investigations or confirmations.
• Log confirmed fraud cases in GRC as incidents with detailed fraud information.
• Create card replacement requests manually through the system.
• Analyze common fraud cases to identify the Common Point of Purchase (CPP).
• Liaise with branches, departments, and members for transaction confirmations and suspected fraud activities.
• Clear all cases alerted in the Fraud Monitoring Tool.
• Review card scheme alerts and take action to block or replace cards as needed.
• Utilize multiple systems to provide accurate information to customers and conduct initial fraud investigations.
• Review documents from chargebacks to identify potential customer involvement.
• Follow up with customers regarding missing documents, temporary blocked cards, or channels via calls, SMS, and emails.
• Prepare write-off memos for fraud cases with losses, requiring approval from the team leader and Head of Fraud.
• Daily review of General Ledger accounts.
• Update unit tracking activities and coordinate with other Card Center Units for card deliveries as per customer requests.
• Review manual transaction reports to identify any missed fraud cases.
• Monitor and review transactions blocked by VRM/FRM and take necessary actions.
• Extract and review hold transactions, blocking cards, channels, or accounts if necessary.
• Maintain detailed case tracking sheets for effective monitoring.
• Resolve queued transactions within service level agreements to minimize potential revenue losses.
• Interact with banks and merchants to validate information and confirm or cancel authorizations.
• Update tracking sheets for channels monitored to create Management Information Systems (MIS).
• Communicate and share insights on new fraud trends with stakeholders.
• Mitigate risks by blocking all E-channels, including mobile banking, cards, and internet banking.
• Liaise with the call center to assist customers in filling disputes and replacements.
• Respond to emails and queries raised by other teams.
• Initiate stop payment requests to beneficiary banks.
• Implement recommendations for blocking and controlling mule accounts.

Specialist Skills / Technical Knowledge Required for this Role:

• Graduate level education.
• Strong English communication skills (spoken and written).
• Good understanding of cards, digital channels, and merchant acquiring.
• In-depth knowledge of e-commerce, payment technology, and financial crime.
• Strong analytical and investigation skills.
• Ability to manage self-correspondence effectively.

Previous Experience Required:

• Minimum of 2 years’ experience in operational activities within a large organization.
• Minimum of 2 years’ experience in fraud prevention and investigation within Risk Management.
• At least 1 year’s experience using any Enterprise Fraud Management Systems.