Fraud Operations Analyst

Fraud Operations Analyst at Questrade Financial Group

Questrade Financial Group (QFG) is a leader in financial services, utilizing cutting-edge technologies to develop innovative products that empower customers to manage their money better. As a Fraud Operations Analyst at Questbank, you will be part of a collaborative team that is deeply committed to our mission and each other. We embrace a culture of innovation, where technology, including AI, serves both our team and customers, fostering efficiency and creating cutting-edge solutions.

This is a hybrid role offering continuous growth, exploration, and learning in a diverse and inclusive environment. You'll unleash your creativity and curiosity, shaping the future of fintech with unlimited potential.

What's in it for you as an employee of Questbank?

• Health & wellbeing resources and programs
• Paid vacation, personal, and sick days for work-life balance
• Competitive compensation and benefits packages
• Work-life balance in a hybrid environment with at least 3 days in office
• Career growth and development opportunities
• Opportunities to contribute to community causes
• Work with diverse team members in an inclusive and collaborative environment

We are seeking a Fraud Operations Analyst to oversee the daily operations and structural components of the Fraud Operations Department. This includes functions outsourced to third parties and internal teams, focusing on the prevention, detection, analysis, mitigation, and recovery of fraud for Questbank.

Reporting to the Senior Manager, Fraud Operations, you will be crucial in supporting the successful execution of the bank's fraud mitigation strategy. This involves balancing loss reduction, regulatory compliance, and positive customer experience. The role focuses on supporting the operational foundation of the Fraud team by assisting in the development and maintenance of key documentation, managing accurate case tracking and reporting, and coordinating efforts with internal partners and external vendors. Your attention to detail and ability to facilitate organizational readiness are essential to maintaining stakeholder trust in the bank's commitment to proactively securing against fraud.

Responsibilities include but are not limited to:

Analysis and Reporting Support:

• Prepare, generate, and maintain regular reports and dashboards detailing Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs) related to fraud losses and operational efficiency.
• Assist in the ongoing monitoring and analysis of fraud data, identifying emerging patterns, trends, and specific fraud schemes impacting the bank's products.
• Ensure the accuracy, completeness, and consistency of fraud case data within tracking systems to support thorough analysis and management reporting.

Operational Documentation and Readiness:

• Draft, update, and organize critical operational documentation, including fraud procedures, playbooks, process maps, and internal control narratives, ensuring alignment with approved strategies.
• Assist in the preparation of training and awareness materials for the Fraud team and business partners.
• Gather and organize documentation and evidence required for internal audits, compliance reviews, and regulatory submissions related to fraud controls.

Stakeholder Coordination and Execution:

• Schedule, prepare materials for, and document outcomes of working sessions and meetings with internal stakeholders (e.g., IT, Cyber, Operations).
• Coordinate operational inquiries and information exchange with external partners, such as Interac, VISA, and MasterCard, as directed by the Senior Manager.
• Serve as a working team member on fraud management projects, executing assigned tasks related to the implementation of new tools, systems, or process improvements.

Are you our next Fraud Operations Analyst? You are if you…

• Hold a Bachelor's degree in Finance, Business Administration, Data Analytics, or a related field.
• Have 1-3 years of experience in fraud operations, financial crime investigation, or a highly analytical risk role within the financial services industry.
• Possess strong communication and interpersonal skills, with the ability to effectively liaise with stakeholders at all levels, both internal and external to the organization.
• Are self-motivated, energetic, results-oriented, and committed to adding value to the organization.
• Have a solid understanding of Google Suite and its functionality.
• Possess strong analytical skills relating to a wide variety of banking and investment products and services, with the ability to interpret complex data and identify patterns and trends.
• Have a strong understanding of fraud schemes, techniques, and emerging trends across various financial products and services.
• Possess solid knowledge of the regulatory requirements related to fraud prevention and reporting, such as Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
• Are proficient in utilizing fraud detection tools, data analytics, and risk management technologies.
• Have exceptional problem-solving and decision-making abilities, with a keen attention to detail.
• Possess strong time management and organizational skills with the ability to prioritize and manage multiple initiatives to meet deadlines while ensuring high quality of work.
• Have strong planning, presentation, project management, and relationship building skills.
• Possess excellent written communication skills, with the ability to write procedures, scoping documents, and meeting summaries at the appropriate level of detail.
• Understand industry Key Performance Indicators (KPIs) and Key Risk Indicators (KRIs).

Additional Kudos If You…

• Hold professional certifications related to fraud prevention and investigation, such as Certified Fraud Examiner (CFE).
• Have solid knowledge of fraud and privacy legislation in multiple provinces.

Key skills/competency

• Fraud prevention
• Data analysis
• Regulatory compliance
• Risk mitigation
• Financial crime investigation
• Operational efficiency
• Reporting & KPIs/KRIs
• Stakeholder coordination
• Google Suite
• Problem-solving