Analyst, Payment Fraud Analyst

London, England, United Kingdom

12/17/2024

Do you want your voice heard and your actions to count?

Discover your opportunity with Mitsubishi UFJ Financial Group (MUFG), one of the world’s leading financial groups. Across the globe, we’re 120,000 colleagues, striving to make a difference for every client, organization, and community we serve. We stand for our values, building long-term relationships, serving society, and fostering shared and sustainable growth for a better world.

With a vision to be the world’s most trusted financial group, it’s part of our culture to put people first, listen to new and diverse ideas and collaborate toward greater innovation, speed and agility. This means investing in talent, technologies, and tools that empower you to own your career.

Join MUFG, where being inspired is expected and making a meaningful impact is rewarded.

Operation Office for EMEA has several functions including a) processing centre for users including EMEA offices and London users, b) regional head quarter of operations, c) support function. First Line Risk & Control (FLRC)department is one of support function and to maintain proper governance from first line risk & control perspective.

Part of the FLRC department is the Fraud Monitoring team. The Fraud Monitoring team is responsible for the Payment Fraud monitoring for MUFG Bank for EMEA operation. This function is also required for Regulatory purposes (PSD2).

The Fraud Monitoring team is in place to monitor MUFG’s payment fraud. This includes monitoring of the following:

• Unauthorised or stolen access for MUFG online banking
• Known fraud scenarios
• Abnormal device access
• Abnormal location
• High risk payees
• Recurring incidents
• Unexpected transaction amounts
• High risk payee countries
• Structured payments (to avoid detection)
• Unexpected bank & destination
• Internal Fraud.
  
  

MAIN PURPOSE OF THE ROLE

The Fraud Risk Monitoring team is responsible for the Payment Fraud monitoring for MUFG Bank for EMEA.

The primary function of this team will be to manage the First Line of Defence for payment Fraud Monitoring. This will include alert handling and full end to end investigation of applicable payment fraud alerts.

The Fraud Analyst is responsible for detecting and preventing fraudulent activity within an organisation. The role involves monitoring transactions, analysing data and keeping up to date with industry regulations and trends in fraud. The Fraud Analyst will work closely with other departments, to enhance systems and processes that can identify and prevent fraud. The successful candidate will possess strong analytical skills, attention to detail and excellent communication skills.

What You'll Do

• Monitor and analyse transactions, customer accounts, and other activities to detect suspicious patterns, anomalies, or potentially fraudulent behaviour.
• Develop knowledge of internal data, including user behaviour metrics, and payment infrastructure to gain insights into fraud patterns and to further advance our fraud strategy.
• Maintain an up-to-date knowledge of industry trends and regulatory changes to identify and validate future requirements and opportunities.
• Monitor key fraud related metrics (such as chargeback rates, false positives, chargeback defence rates), to develop our fraud prognosis.
• Produce and maintain additional dashboards and reports to highlight fraud trends, with clear and understandable visuals.
• Updating our rule-based fraud tool to ensure fraud patterns are flagged.
• Collaborate in fraud related investigations and relay your knowledge and findings to the fraud unit.
• Manage technical projects between internal & external development teams.
• Support of ad-hoc analytical and reporting requests.
• Enhance our paywall & conversion reporting
• Alert handling of Payment Fraud Transaction Management system in accordance with the SLA
• Full end to end case management
• Liaising and reporting to multiple internal stakeholders such as Financial Crime, EMEA Branches and Front Office Relationship Managers
• Liaising and reporting to external stakeholders
• Escalating issues to management
• Internal reporting such as Suspicious Activity reporting
  
  

Key Responsibilities

Fraud Analyst Duties

• Conducting investigations into potential fraud cases
• Monitoring activity for potential fraudulent activity
• Analysing data to identify potential fraudulent activity
• Preparing reports on fraud investigations
• Recommending improvements to internal systems and processes
• Implementing fraud prevention policies and procedures
  
  

Fraud Analyst Requirements

• Analyse suspicious activities and financial transactions for possible fraud
• Monitor customer accounts for suspicious activity and investigate potential fraud cases
• Review customer accounts and investigate any suspicious activities
• Work with banks, credit card companies and other financial institutions to detect, investigate and resolve fraud cases
• Provide recommendations to reduce and prevent fraud
• Stay up to date with the latest fraud trends and techniques
• Ensure alerts are managed in accordance with agreed SLA and procedures
• Prompt notification and escalation internally of suspicious transactions
• Daily MI reporting & rules analytics
• End to end investigation of suspicious transactions including client outreach
  
  

Work Experience

Work Experience:

• Experience in operational risk analysis
• Demonstrable stakeholder management skills
• Demonstrable time management skills
  
  

Skills And Experience

Functional / Technical Competencies:

• Strong analytical, communication and interpersonal skills
• Excellent attention to detail and a high level of accuracy
• Able to work in a high-volume work environment
• Intermediate MS Excel and Word skills
• Excellent communication skills (written and oral)
• Good stakeholder management skills
• Statistical analysis
• Risk assessment
• Problem-solving
  
  

Education / Qualifications:

• Degree/College educated or equivalent work experience
• A Degree in a quantitative field, such as Computer Science/Mathematics/Statistics, is a plus.
• Demonstrable examples of delivering analytical conclusions with SQL outputs is a must, Python is desirable
  
  

Personal Requirements

• Excellent communication skills
• Results driven, with a strong sense of accountability
• A proactive, motivated approach.
• The ability to operate with urgency and prioritise work accordingly
• Strong decision making skills, the ability to demonstrate sound judgement
• A structured and logical approach to work
• Strong problem solving skills
• A creative and innovative approach to work
• Excellent interpersonal skills
• The ability to manage large workloads and tight deadlines
• Excellent attention to detail and accuracy
• A calm approach, with the ability to perform well in a pressurised environment
• Excellent Microsoft Office skills
  
  

We are open to considering flexible working requests in line with organisational requirements.

MUFG is committed to embracing diversity and building an inclusive culture where all employees are valued, respected and their opinions count. We support the principles of equality, diversity and inclusion in recruitment and employment, and oppose all forms of discrimination on the grounds of age, sex, gender, sexual orientation, disability, pregnancy and maternity, race, gender reassignment, religion or belief and marriage or civil partnership.

We make our recruitment decisions in a non-discriminatory manner in accordance with our commitment to identifying the right skills for the right role and our obligations under the law.