Analyst II, Fraud Prevention
About the role: The Fraud Analyst position is responsible for developing fraud strategies to mitigate risk and successfully reduce fraud losses for our clients. Rules are written in SQL utilizing Everlink's eDETECT™ & eDETECT+™ Solution (powered by ACI's Proactive Risk Manager (PRM) and 3DS Authentication Service (powered by Cardinal Commerce's VCAS Platform) through extensive analysis of transactional data in the consortium. The role will be responsible for appropriately developing and implementing effective real-time and near real-time rules based on data analysis and industry trends. Rule performance will be measured and documented regularly through monitoring of rule false positives and fraud losses. The role will also be responsible for providing the information required by the management team and user groups, with the possibility of leading internal and client meetings themselves. This position will also be responsible for analyzing, monitoring and supporting all fraud-related applications and the business processes that provide operational and management information to clients, vendors and internal users. The position will participate in business technology requirement-gathering activities to ensure solutions achieve the product and operational requirements defined by stakeholders. The successful candidate will become a SME for all things related to fraud analysis at Everlink and will ensure all ongoing projects comply with fraud requirements. Additional responsibilities will include addressing client enquiries on fraud events and fraud solution performance with the help of data analysis and research. The role will also be responsible for providing training on Everlink fraud solutions to internal stakeholders and clients, sharing information and recommendations which can benefit the client and their membership. This engagement can include virtual calls, in-person meetings and providing fraud reports through email. What you will be doing: The successful candidate must be well-versed in these industry best practices related to payment fraud strategies, services, and solutions. Responsibilities-
- Develop and implement comprehensive fraud detection strategies and business rules that reduce fraud losses.
- Utilize analytics to optimize existing fraud strategies to reduce false positives and increase fraud detection.
- Determine existing fraud trends, analyze data, and identify patterns.
- Identify enterprise and card not present fraud and implement ad hoc rules to address the risk.
- Provide recommendations for enhancements and process improvements based on continuous assessment of the fraud systems and processes.
- Actively seek ways to apply technology to business processes.
- Coordinate, deliver, and participate in information sessions for customer groups.
- Provide support to clients and internal users to analyze and resolve production and operational issues.
- Create clear business requirements documents for fraud solutions and enhancements.
Accountabilities-
- Continuous analysis of all financial and non-financial data available.
- Appropriately recommending and subsequently implementing effective real-time and near real-time fraud rules.
- Track trends through analysis and identify non-financial and card not present fraud scenarios.
- Continuously monitor false positives to ensure rule effectiveness.
What you bring:
- Secondary degree in an area of work related to assigned duties (risk management, business, finance, etc.).
- Some experience in the Financial and IT industry relating to Business and Functional analysis.
- Sound working knowledge and industry best practices in the field of fraud detection and loss prevention, as well as payment card processing.
- Strong understanding of the fraud monitoring and detection space and current market trends.
- Good working knowledge of MasterCard, Visa and Interac general fraud and card regulations.
- Good interpersonal and written skills to effectively communicate and interact with cross-functional teams and external stakeholders.
- Analytical and problem-solving capabilities with the ability to identify problems and drive to resolution.
- Highly motivated and results oriented.
- Strong time management, prioritization, and organizational skills.
- Ability to work independently with little supervision and multitask effectively.
Experience-
- At least five years of experience in payment card fraud detection and prevention.
- Experience with ACI's Proactive Risk Manager (PRM) is an asset.
- 3D Secure Authentication framework experience is an asset.
- Experience using Microsoft SQL Server for query development and reporting is an asset.
- Knowledge of payment schemes, including Mastercard, Visa, Interac and Exchange, and their network rules, is an asset.
- At least five years of experience in functional business analysis and leadership working with complex integrated systems.
- Experience with banking business processes and applications or in a Payment Services environment is an asset.
- Some knowledge of MasterCard, Interac, Visa & Exchange, ATM and/or POS devices
Skills and Abilities-
- Strong interpersonal and communication skills
- Able to build professional business relations within and outside the organization.
- Track record of continuous professional development, which includes a strong focus on risk management, fraud detection strategies and technology.
- Ability to manage multiple projects with varying complexities, priorities and timelines.
What We Offer:
- Competitive compensation
- Comprehensive benefits package
- Flexible working environment and office hours
- Opportunities for professional learning, growth, and career advancement
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