Fraud & Risk Analyst

About the Role:

• We are seeking a highly skilled and experienced Fraud & Risk Analyst to join our team. The ideal candidate will have proven experience in fraud risk management and possess a strong analytical mindset to identify and mitigate fraudulent activities.
• The role involves monitoring transactions, processes, and operational activities for fraud prevention purposes; detecting suspicious patterns, transactions, and behaviors through data analysis; and investigating potential fraud cases. The role contributes to financial loss mitigation, ensures regulatory compliance, and supports the protection of the company’s reputation while maintaining a robust fraud risk governance framework.
• Excellent communication and presentation skills are essential for this role.
• This position reports to the Head of Risk.

Key Responsibilities:

• Monitor and analyze transactions, processes, and operational activities to detect suspicious behavior and potential fraud.
• Identify, assess, and mitigate fraud risks using data-driven and analytical approaches.
• Support the development and implementation of fraud detection strategies, tools, and processes.
• Analyze data to identify anomalies, trends, and emerging fraud patterns.
• Conduct thorough investigations of suspected fraud cases and document findings.
• Escalate confirmed or high-risk fraud cases to relevant stakeholders in a timely manner.
• Collaborate with cross-functional teams to enhance fraud prevention measures and internal controls.
• Support the continuous improvement of fraud monitoring mechanisms and control frameworks.
• Prepare detailed reports and presentations on fraud trends, investigation outcomes, and key risk indicators.
• Communicate findings, insights, and recommendations clearly to management and stakeholders.
• Ensure adherence to applicable regulatory requirements, internal policies, and fraud risk frameworks.
• Assist in the preparation of regulatory reports and responses related to fraud incidents.
• Support internal and external audits, regulatory reviews, and compliance assessments.
• Stay updated on relevant regulations (e.g., DFSA/DIFC, AML/CTF) and incorporate requirements into fraud risk practices.

Team Collaboration:

• Work closely with IT, Finance, Operations, and other departments to ensure effective fraud detection and prevention.
• Participate in regular team meetings to discuss ongoing cases and share insights.
• Provide training and guidance on fraud awareness and detection techniques.
• Foster a collaborative environment to continuously improve fraud prevention strategies.

Technical Skills:

• Fraud analytics (predictive modelling, anomaly detection)
• Insurance domain knowledge (life, health, general insurance) preferred
• Investigation techniques and forensic analysis
• Risk assessment and control design
• Strong data handling and analytical tools (Excel, Power BI)

Soft Skills:

• Strong analytical and problem-solving ability
• High ethical standards and integrity
• Attention to detail
• Stakeholder management and communication skills
• Ability to make sound decisions under uncertainty

Education & Qualifications:

• Bachelor’s degree in Finance, Risk Management, Computer Science, or a related field
• Relevant certifications such as CFE, CAMS, or ICA (Financial Crime Compliance) are an advantage

Experience:

• Minimum 5 years of experience in fraud detection and fraud risk management
• Exposure to claims and underwriting fraud preferred
• Experience with data analytics-driven fraud detection