Fraud & Transaction Monitoring Specialist

JOB DESCRIPTION

Track and monitor PayTabs transactions or activity that comes through the customers’ accounts. Identify and trace any suspicious or high-risk transactions, determine if there is improper activity involved, and determine if there is any risk to the PayTabs or its customers. Managing/Monitoring Merchant Risk. Handling queries related to transactions “internal/external” processing and fixes require “wherever applicable” for technical/non-technical failure. Managing Fraud & risk related queries received from the internal/external processing partner and suitable actions to prevent loss “if any”.

Essential Functions

1. other duties assigned by the line manager, and
   • Transaction & Merchant Risk Monitoring
     • • Responsible for the prevention and detection of potential transaction fraud across payment channels by reviewing transactions, processing pattern and data captured, or information received from the fraud detection system “wherever available” and other available parameters.
       • Monitor card fraud and take necessary action to protect PayTabs and Merchants.
       • Daily Review of Risk Rejection (DM Declines) and communicating with the Merchant for further action.
       • Contribute to the creation of fraud rules or risk & processing parameters within the system by providing analytical data to support decisions “wherever applicable/possible”
       • Verify activities or highlighting suspicious transaction activities through email communication “with merchants” to obtain additional information regarding suspicious/confirmed fraud attempts and standard processing of the merchant.
       • Responsible to re-present card fraud data/information with external processing partners based on the information shared/received from the merchant end.
       • Review all alerts/communication from external/internal sources, including processing partners and ensure that appropriate actions are taken to mitigate fraud/risk or transaction processing.
       • Ensure information flow and deliverables are met to mitigate fraud/risk by facilitating weekly/monthly dispute performance reports.
       • Maintains the negative list of data elements of fraudulent/suspicious transactions
       • Provide support to the Operational and Business units of the organization on fraud/risk related matters and queries.
       • Participate in team meetings (technical/non-technical); share information and make suggestions for improvements to fraud operations or transaction processing flow.
       • Monitoring Merchant and occasional risk review based on the processing history, Dispute history, and activity that violates PayTabs processing rules, business operation or other available parameters.
       • Verify merchant information/orders “processing” as part of Merchant fulfillment review and conduct due diligence reviews for anti-money laundering purposes
       • Merchant monitoring and further suitable action based on the risk review such as Suspension, Settlement Freeze or change in the processing parameters.
       • Working with the IT/Tech Team for Transaction/Merchant or processing related fixes, development, and related system enhancement.
2. Reporting and Handling Regular Transaction Queries
   • Publishing weekly/Monthly Fraud and CB performance reports.
   • Publishing transaction/processing or any kind of risk-related reports based on the internal or external requests.
   • Sharing data with Processing partner(s) based on the request received “within sharable parameters”.
   • Handling transaction related queries “internal or external” and taking further suitable actions.
   • Handling MID Closure Requests

Key Performance Indicators (KPIs)

• Maintain Fraud & CB threshold based on the scheme guidelines.
• Managing/reviewing MIDs as a part of the Merchant post-onboarding Review.
• Escalate and highlight risk findings internally when necessary and take part in further discussions/action with internal or external stakeholders.
• Work cross-functionally with the IT/CS/Support/Compliance and other operations teams within PayTabs.
• Work with large sets of data while having the flexibility to determine the best methods for data analysis and reporting purposes.

Knowledge, Skills & Abilities

• 1 to 3 years of experience preferred similar role in payment field or banking sector.
• Previous experience in Card Risk/Compliance/AML/CFT with a financial institution or payment-focused company preferred.
• Demonstrated ability to solve critical business issues using innovative solutions for Card Risk.
• The ability to aggressively multi-task & set others’ expectations in a time-pressured environment remains important.
• Ability to approach problems in a quantitative and qualitative manner, draw meaningful conclusions, and make business recommendations.
• Ability to learn and adapt to new technologies
• High proficiency level with Microsoft Office.

Position Type

This is a full-time position.

Expected Hours of Work

The regular hours of work and days are Sunday through Thursday, 9:00 a.m. to 5 p.m.; however, this position can regularly require long hours and frequent weekend work depending on business needs.

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.