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Fraud Specialist Job Description

What does a Fraud Specialist do?

A Fraud Specialist is responsible for preventing and detecting fraudulent activities within a company. Their main duties involve monitoring transactions and investigating suspicious activities to identify potential fraud. They work closely with other members of the team to develop and implement policies and procedures that help prevent fraud. A Fraud Specialist also collaborates with law enforcement agencies and other external partners to address complex fraud cases. They may also provide training and guidance to other employees to help them identify and prevent fraudulent activities.

Our Fraud Specialist job description includes the Fraud Specialist responsibilities, duties, skills, education, qualifications, and experience.

Fraud Specialist Example

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If you need an example job description for a Fraud Specialist download the one below, alternatively we have many other job description samples and a job description library with over 3000 job descriptions templates that you can download for free.

What does a Fraud Specialist do?

A Fraud Specialist is responsible for identifying, investigating and preventing fraud and other financial irregularities within an organisation. They work with internal and external stakeholders, such as law enforcement and banking institutions, to ensure that all financial transactions are compliant with regulations and free of fraud. They use a variety of techniques and technologies to detect, analyse and report suspicious activity, and create strategies to prevent any future losses. Fraud Specialists must have excellent knowledge of financial regulations, be highly analytical and have good communication skills.

Fraud Specialist Role Purpose

The purpose of a Fraud Specialist is to protect an organisation from financial losses caused by fraudulent activities. This is achieved by conducting investigations into potential fraudulent activities, analysing data and providing reports to management on the findings. The Fraud Specialist will also work with other departments to ensure that internal processes and systems are compliant with relevant regulations. Additionally, the Fraud Specialist will provide advice and guidance to staff on how to prevent, detect and report fraud.

Fraud Specialist Role

A Fraud Specialist is responsible for detecting, preventing, and investigating fraudulent activities within an organisation. They are tasked with identifying potential fraud risks, analysing data and reviewing processes to ensure compliance with fraud prevention protocols. They must possess excellent analytical and investigative skills, a keen eye for detail, and an ability to think critically and objectively.

Fraud Specialist Duties

  • Investigating suspected cases of fraud
  • Reviewing customer accounts for suspicious activity
  • Conducting research to identify fraud perpetrators
  • Monitoring payment systems for fraudulent activities
  • Providing advice and guidance on preventive measures
  • Identifying and reporting on emerging fraud trends

Fraud Specialist Requirements

  • Strong knowledge of fraud prevention techniques
  • Good understanding of financial regulations
  • Excellent analytical and problem-solving skills
  • Ability to identify potential fraud risks

Fraud Specialist Skills

  • Strong analytical and problem solving skills
  • Knowledge of compliance and regulatory requirements
  • Excellent communication skills and the ability to negotiate

Fraud Specialist Personal Traits

  • Highly analytical
  • Excellent attention to detail
  • Able to communicate complex information effectively
  • Good interpersonal skills
  • Able to maintain confidentiality

How to write a Fraud Specialist Job Advert

Use our job advert template to write a job advert for posting on job sites and job boards. Our job advertising templates are carefully created to help you reach your audience and beat the competition to the best talent.

A job description informs the reader about a job, whereas a job advert’s main objective is to sell the job opportunity to attract as many suitable applicants possible. A job advert maybe the first touch-point a candidate has with your company so it is important to create a great impression.

Job Advertisements should enticing, so considering using short, exciting language which get the reader’s attention.

How to write a Fraud Specialist Job Description

To write a job description, we recommend starting with a job description template from our job description library, which contains examples for 800+ positions and professions. Our job description examples include a job summary with duties and responsibilities and skills and requirements, which can be personalised for your job vacancy.

Job Description Advice - Guidance on How to Personalise a Fraud Specialist Job Specification

The hiring process and recruiting new employees to fill your key roles requires a degree of personalisation if you are to attract the best employees in a competitive employment market. The right person for a crucial role or more senior roles will likely have other employers targeting them. As your job description will be the first point of contact, you need to nail your pitch and provide the best possible service.

Job Description Tips - Help on formatting a Fraud Specialist Job Specification

When creating your bespoke description and advert, you should cover and promote these points:

Job title: This should accurately reflect the role and include keywords that top talent might be using to search for jobs.

Job duties: The day to day duties, such as administrative tasks, which vary depending on the company and inform the candidate if they can complete the role.

Technical skills: These are the hard skills required through training, such as proficiency with Microsoft Office.

Soft skills: These include the interpersonal skills and general abilities the right candidates will possess. For example, the competency to prioritise multiple tasks, handle customer queries and customer complaints, work alone, or build a good relationship with coworkers.

The company's culture: Highlighting your company culture and values ensures employees thrive and find outstanding job satisfaction. Candidates that are not the right fit won’t waste their time completing the application process, meaning you can focus on qualified individuals and hire in a more timely manner.

Career progression: Including the career path will entice candidates looking for career growth. 

Training and development programs: Smaller companies may need employees with previous experience or provide educational assistance over internal training offered by larger organisations with more significant resources. 

Employee benefits: Compensation and benefits often fail to appear in job ads and while you may want to hold your cards close to your chest, failing to include them is a mistake. Consider answering common questions, such as working hours and paid leave. Researching the average salary for the role in these early stages will ensure you don’t waste your interviewer’s and the candidate’s time.

Skill gaps: Your company may need to bring in new skills beyond those required to complete the key role and duties. Thinking on an organisational level can be beneficial when contemplating skills diversity.

Legal requirements: Ensure your job advert and description does not ask for inappropriate or discriminatory personal details, such as age, marital status, or religion.

How to Hire a Fraud Specialist

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