Fraud Investigation Manager Job Description Example
What Does a Fraud Investigation Manager Do?
Fraud investigation managers are in charge of the fraud prevention and discovery unit of an organization.
Their job description entails overseeing the operations of a fraud detection team to ensure cases of unlawful financial maneuvers are properly handled.
Fraud investigation managers are responsible for developing and implementing action plans for detecting fraudulent activities in an organization.
They work closely with a team of fraud investigators to analyze cases of money laundering, forgeries, and legal claims.
They also oversee the designation of work territories to team members according to their specialization and capacity.
Fraud investigation managers as part of their duties recruit and train investigation personnel to ensure an effective fraud unit.
They ensure compliance with all laid down policies and procedures for work operations.
They also design and implement fraud prevention strategies and processes necessary for minimizing risk of illegal financial contrivances within an organization.
Fraud investigation managers usually liaise with legal counsels and law enforcement agencies to develop and execute plans for the resolution of fraud cases.
They produce evidence and information useful in apprehending fraud suspects for court trial.
They also appear in court during hearings to testify as witnesses.
In fulfilling their role, fraud investigation managers supervise and conduct analysis of financial records, accounts and various other business data to identify financial irregularities.
They utilize various data analysis and accounting tools in collecting, sorting and analyzing financial data to obtain results which reveal inconsistencies as well as the possible suspects.
Usually, the work description of fraud investigation managers involves supervising and conducting interviews to obtain information useful in resolving financial crimes.
They review investigation reports presented by fraud investigators to make appropriate adjustments and take key decisions effective for fraud resolution.
They also proffer recommendations and solutions for the restitution of misappropriated funds.
The fraud investigation manager job requires a Bachelor’s degree in finance, accounting, economics, or in other related courses.
To succeed in this job, the qualities you need include math, communication, and leadership skills.
Fraud Investigation Manager Job Description Example/Template
The functions of a fraud investigation manager in most firms include various duties, tasks, and responsibilities focusing on fraud prevention.
Given below is an example of a job description, detailing the major roles of managers in charge of the fraud investigation unit in most companies:
- Develop and implement strategies effective for the detection and prevention of financial crimes in an organization
- Oversee the hiring and training of fraud investigation personnel to ensure an effective unit
- Collaborate with lawyers and law enforcement agents to develop and execute plans for the resolution of a fraud case
- Conduct interviews with suspects to obtain information regarding their degree of involvement in a racket
- Gather, sort and analyze relevant documents, evidence and financial data to identify inconsistencies in an organization’s records
- Utilize various accounting and data analysis tools in examining financial records and processes
- Direct and supervise the operations of an organization’s fraud unit to ensure work efficiency
- Ensure team members of a fraud investigation unit maintain a high level of integrity in performing job duties
- Proffer professional recommendations to business establishments on techniques necessary for limiting risk of fraud
- Produce information useful in apprehending fraud suspects or culprits
- Appear during court hearings to testify as witnesses, they also present evidence to back up a testimony
- Conduct negotiations and facilitate the process for recovery of lost resources
- Design and implement processes effective for the prevention or minimization of fraud risks
- Maintain record of all investigative operations and results of analysis
- Conduct research and attend educational programs to update professional knowledge.
Fraud Investigation Manager Resume Preparation
If you are looking to create a fraud investigation manager resume, it will be wise to have a section in it to highlight your experience on the job.
Having a work experience section tells employers that you understand what is expected of you as a fraud investigation manager and you have shown the capacity to excel on it, which gives your resume a boost.
To make an effective work experience section if you have actually held the position before, the sample fraud investigation manager job description presented above can help you with it.
You can simply apply the functions of the role given in the work description in creating the section.
Requirements – Skills, Abilities, and Knowledge – for Fraud Investigation Manager Role
If you are looking to work as a fraud investigation manager, here are the typical requirements from employers that you may need to meet to be considered for the job:
- Education and Training: To become a fraud investigation manager, you require a Bachelor’s degree in economics, accounting, or in another business related discipline. Experience in a law enforcement field is also useful in fulfilling the requirements of this role
- Math Skills: Fraud investigation managers employ their number crunching skills in conducting analysis of financial records to identify inconsistencies
- Communication Skills: Fraud investigation managers are adept at interacting with fraud investigators to establish the objectives of an investigation
- Leadership Skills: They are well versed in coordinating and directing the operations of fraud investigation teams to ensure the resolution of fraud cases.
Fraud Investigation Manager Skills for Resume
Also, if you are making a fraud investigation manager resume, the above mentioned required qualities will be helpful in filling out the skills section of the resume.
You need the skills section to show employers that you have the ability to succeed in carrying out the work description that will be handed to you if hired as a manager of fraud investigation unit.
Therefore, you can have an effective skills section by acquiring the qualities and skills usually required by employers for the job and highlighting them in your resume’s skills section.
The role of a fraud investigation manager entails various duties, tasks, and responsibilities. If you are aspiring to work in this position, knowing what they do will help you understand the position better.
For employers seeking to hire for the fraud investigation manager position, you can use the job description template given above for the role in finding the right person to recruit and assigning tasks to them.
Did you learn more about what fraud investigation managers do from this post? Please leave a comment in the box below. If you have additional duties that make up the job description of managers in charge of fraud investigation, please share it also.