How to Become a Fraud Investigation Supervisor
Step 1: Understand the job description and responsibilities of a Fraud Investigation Supervisor
What does a Fraud Investigation Supervisor do?
A Fraud Investigation Supervisor supervises the development of policies and procedures for proactive fraud monitoring. Documents the current control process and recommends enhancements. Being a Fraud Investigation Supervisor collaborates investigation with appropriate business partners and local, state and federal authorities. Requires a bachelor's degree. Additionally, Fraud Investigation Supervisor typically reports to a manager or head of a unit/department. The Fraud Investigation Supervisor supervises a small group of para-professional staff in an organization characterized by highly transactional or repetitive processes. Contributes to the development of processes and procedures. Thorough knowledge of functional area under supervision. To be a Fraud Investigation Supervisor typically requires 3 years experience in the related area as an individual contributor.
Fraud investigation requires analytical, logical and social skills in order to analyze legal, financial and personal information while providing a variety of services, including tracing missing persons, detecting financial fraud, verifying backgrounds and other information, and investigating crimes of legal, financial and personal matters.
It should be noted that fraud investigators often work irregular hours, including early mornings, late nights, and holidays.
Demand for private investigators is expected to rise in coming years; cyber crimes such as identity theft, financial scams and insurance fraud have grown in recent years with technological advances, causing an increased need to fraud investigation.
Janice Rice, the department’s fraud supervisor, spoke to the Rotary Club Wednesday about how fraud cases are investigated and the consequences for those who commit this crime.
Fraud can be withholding information about where you’re working or your income.
Step 2: Learn best tips to become a Fraud Investigation Supervisor
Best tips for those who want to become a Fraud Investigation Supervisor
Here are some tips to become a Fraud Investigation Supervisor.
Step 3: View best colleges and universities for Fraud Investigation Supervisor
Best colleges and universities for Fraud Investigation Supervisor
- Florida Southern College
- Colby College
- Dartmouth College
- University of Notre Dame
- Western Washington University
- Canisius College
Step 4: Think about whether is it worth to be a Fraud Investigation Supervisor
Is being a Fraud Investigation Supervisor Worth it?
The department has about 70 open fraud cases right now, which is small considering they have approximately 995 people receiving benefits from the food assistance program alone.
Other names for this job might include Audit Manager, Certified Fraud Examiner, Forensic Accountant, Fraud Analyst, Fraud Examiner, Fraud Investigator, Inspector General, Internal Audit Manager, Investigator, Special Agent.
In this job description guide, you will find out what do Fraud Examiners, Investigators and Analysts do and what is their typical work day like.
They investigate cases of insurance and credit card fraud, including interviewing and working with postal officials when the offenses have occurred through the mail.
Finally, fraud investigators work with members of the criminal justice system such as prosecutors and attorney generals, present investigation results, and testify in court.
Step 5: Prepare relevant skills for being a Fraud Investigation Supervisor
What skills do you need to be a Fraud Investigation Supervisor?
A manager is often judged based on the success of their team and those working below them, as such, many skills are needed. Success in this role depends on a critical ability in the following: Forensic Accounting, Fraud Investigation, Internal Audit, Security Testing and Auditing, Evidence Collection, Law Enforcement Liaison. Experience in the following is fundamental to this role: Governance, Risk & Compliance Software. Skills may vary from job-to-job, but these skills are the ones most commonly associated with this role.
Credentials such as Certified Fraud Examiner, Accredited Healthcare Fraud Investigator/certification is required or must be obtained with 1 year of employment.
Technical understanding and keen interest in how fraud works within digital technologies, different methods of fraud and familiarity with current fraud….
Have or be able to obtain a Certified Fraud Examiner (CFE) Certificate within the first year in role.
The Supervisor will have foundational knowledge and experience with leading a SOC monitoring team.
2+ years of forward-thinking experience in the areas of financial fraud and investigations.
Step 6: View average salary for Fraud Investigation Supervisor
How much does a Fraud Investigation Supervisor make?
The average salary range for a Fraud Investigation Supervisor is from $91,466 to $104,281. The salary will change depending on your location, job level, experience, education, and skills.
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Average salary for Fraud Investigation Supervisor jobs
- Credit Card Fraud Investigation Coordinator
- Credit Card Fraud Research and Investigation Analyst
- Credit Card Fraud Investigation Senior Coordinator
- Fraud Investigation Manager
- Fraud Investigation Officer
- Senior Credit Card Fraud Research and Investigation Analyst
- Fraud Prevention Monitoring Supervisor
- Fraud/Financial Crimes Investigations Supervisor
- Credit Card Fraud Investigator