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Risk Analyst

Toronto, ON
Full Time
2 days ago
The position of Risk Analyst (former Fraud Detection Officer) is the key position relative to team's proactive fraud detection strategy. Utilizing the Proactive Risk Management (PRM) system, the Risk Analyst reviews system generated alerts by reviewing alert attributes and other Moneris systems to assess risk. Where risk is identified or there is a need to further investigate an alert, a Risk Analyst will also seek to validate activity directly with the merchant, with other financial institutions or by any other means necessary. Once fraud has been established, steps are taken to ensure that Moneris Solutions fraud losses/fraud loss exposure is effectively capped. These actions are taken within the context of established team authorities and/or with the concurrence of either the Fraud Specialist, Team Lead or Manager depending on the extent of the risk identified or the amount of funds restrained. Files with identified fraud are referred by Fraud Detection Officers to Fraud Specialists for referral to Fraud Analysts/Case Managers.

Daily responsibilities include:
  • Responsible for the early detection of fraud occurring within the Moneris Solution's merchant base. This is done through effective and efficient reviews of alerts generated through Moneris'Proprietary Risk Management Systems.
  • Respond to general fraud calls/ inquiries received through the general fraud telephone line in a professional and courteous manner.
  • Identify merchant fraud education opportunities, perform over the phone when appropriate and provide merchant with fraud education/awareness packages to support the safe acceptance of credit and debit cards.
  • Contact merchant to investigate unusual situations/processing activity when concerns are noted in the context of either an alert review or as a result of some other impetus (ex. General fraud line inquiry, OFIS advise etc.) to determine if further risk mitigation steps are required
  • Perform transaction verifications to assess legitimacy of transactions and/or assess risk to Moneris.
  • Take appropriate risk mitigation steps when fraud is identified. These include but are not necessarily limited to de-allocation of the merchant's processing capability, suspension of the merchant facility, close off the merchant's batch, redirect deposits and freeze/hold funds. These steps are taken within the context of established authorities
  • Identify process improvement opportunities and actively participate in team process review and revision sessions

Minimum Position Requirements
  • 1 - 3 years of experience in a related field
  • CFE designation
  • Good working knowledge merchant business
  • High degree of motivation, professionalism and competence to work in a high paced team environment.
  • Taking personal responsibility were necessary and striving to represent the company in a positive and professional manner.
  • Bilingual ( French/English Preferred)

To reduce the risk of COVID-19 transmission and to facilitate a safe return to the office for all employees, clients and vendors, Moneris has developed a vaccination standard that requires all employees and contract resources to be fully vaccinated in order to attend company premises, company events or conduct business travel on behalf of Moneris (and provide proof). Bona fide exemptions may be requested in accordance with legally protected grounds.

Note: We welcome and encourage applications from Indigenous people, people of colour, people with disabilities, people of all genders, sexual orientation and intersectional identities.
Banking, Finance and Insurance