Fraud Investigation / Transaction Monitoring / SAR / Chargeback Specialist Job Description Template
As a Fraud Investigation / Transaction Monitoring / SAR / Chargeback Specialist, you will play a key role in detecting, investigating, and mitigating fraudulent activities. Your efforts will help ensure the security of financial transactions and compliance with regulatory requirements.
Responsibilities
- Monitor financial transactions to identify suspicious activities.
- Investigate potential fraud cases and report findings.
- Prepare and file Suspicious Activity Reports (SARs).
- Handle chargeback disputes and ensure timely resolution.
- Collaborate with other departments to implement fraud prevention strategies.
- Stay updated with the latest regulatory requirements and industry best practices.
Qualifications
- Bachelor's degree in Finance, Accounting, or a related field.
- Minimum of 2 years of experience in fraud investigation, transaction monitoring, or a related role.
- Strong analytical and investigative skills.
- Familiarity with SAR filing and chargeback processes.
- Excellent communication and report-writing skills.
Skills
- Fraud Detection
- Transaction Monitoring
- SAR Filing
- Chargeback Management
- Analytical Thinking
- Regulatory Compliance
- Attention to Detail
- Communication
Frequently Asked Questions
A Fraud Investigation Specialist is responsible for examining suspicious financial transactions to detect and prevent fraudulent activities. This role involves analyzing transaction data, identifying fraudulent patterns, and collaborating with law enforcement and internal teams to mitigate financial risks. The specialist uses various tools to scrutinize transactions and ensure compliance with regulatory standards.
To become a Transaction Monitoring Specialist, individuals typically need a bachelor's degree in finance, accounting, or a related field. Experience in financial analysis or a law enforcement background is advantageous. Key skills include proficiency with monitoring software, strong analytical abilities, and knowledge of anti-money laundering (AML) regulations. Certifications such as CAMS (Certified Anti-Money Laundering Specialist) can enhance career prospects.
The average salary of a SAR (Suspicious Activity Report) Specialist can significantly vary based on experience, education, and geographic location. However, SAR Specialists typically earn a competitive wage owing to their specialized skills in analyzing and reporting potentially illicit activities. Factors influencing salary include industry demand and the complexity of cases managed by the specialist.
A Chargeback Specialist typically requires a high school diploma, although an associate or bachelor’s degree in finance, business administration, or a related field is advantageous. Essential qualifications include strong knowledge of chargeback processes, excellent communication skills, and proficiency in relevant software systems. Previous experience in customer service or finance-related roles is beneficial.
A Fraud Investigator must possess strong analytical and problem-solving skills to effectively detect fraudulent activities. They should have an eye for detail, excellent communication abilities, and proficiency in investigative software. Responsibilities include conducting thorough investigations into suspicious activities, preparing detailed reports, and collaborating with financial institutions and legal authorities to address fraud effectively.