Build Your Resume to Get a Job as a Fraud Analyst
Merchants, consumers and banking institutions are facing increased rates of fraud. With increased fraud rates, merchants are suffering from losses as high as $279 for every $100 of actual fraud. Consumers deal with stolen identities, damaged credit reports, and the hassle of setting up new accounts after an identity breach. You might want to consider learning how to build your resume to get a job as a fraud analyst.
Why Choose This Exciting New Career?
Banks must navigate the increasing risks of criminal activity and attempt to protect consumers and merchants, while maintaining their own security measures. Monica Cardone assures us that friendly fraud is a booming industry; totaling over $200,000,000 in stolen revenues!
To combat the growing epidemic, companies are searching for fraud analysts to analyze trends and prevent future breaches. If you are interested in pursuing a career in this growing field, here’s what you need to highlight on your resume.
- Problem Solving: Fraud analysts must determine where fraud takes place and find ways to prevent it from happening again. To demonstrate your ability to do this, use an example of a time you faced a seemingly insurmountable problem, and give details of how you solved it.
- Flexibility: Fraud doesn’t work 9 – 5, and neither do the analysts. Fraud analysis is a job with flexible work hours, which may require you to work odd hours, or over the weekend. Highlight your flexibility and willingness to work various hours.
- Teamwork: Most fraud analysis positions are part of a team comprised of financial analysts, computer technicians, and others. You must demonstrate your ability to work well with others in a team environment. Provide examples of how you’ve worked with teams in the past.
- Analysis: Fraud analysts aren’t looking for fraud – there are automated programs that can do that. The analyst must find the patterns of behavior that can help develop the algorithms to detect fraud in the future.
- People Skills: Part of becoming a fraud analyst requires the use of interpersonal skills. Not only to analyze the backstory behind the fraud, but to work with other analysts in developing detection methods. Effective analysts can use their people skills as well as their analysis techniques.
Adding elements that showcase your abilities in these areas can help you land your dream fraud analyst career. By highlighting these specific work abilities, you are demonstrating your fitness for a fraud detection job that can help safeguard financial information and consumer identities.
Feature image by: G. Dawson (Flickr)- Analysts Inc