Fraud & Risk Analyst

About the Role

Sukoon Insurance is looking for an accomplished Fraud & Risk Analyst with solid hands-on experience in fraud risk management and a strong analytical approach to uncover and reduce fraudulent activity.

The position focuses on reviewing transactions, business processes, and day-to-day operations to spot fraud early; using data analysis to uncover unusual patterns, behaviors, and transactions; and carrying out investigations where fraud is suspected. The role also helps limit financial losses, supports compliance with regulatory obligations, protects the organization’s reputation, and strengthens the overall fraud risk governance structure.

Strong written, verbal, and presentation skills are important, and the role reports directly to the Head of Risk.

Key Responsibilities

• Track and evaluate transactions, business processes, and operational activity to flag suspicious conduct and possible fraud.
• Use analytical and data-led methods to identify fraud exposure, assess it, and reduce its impact.
• Contribute to the design and rollout of fraud detection approaches, tools, and workflows.
• Study data to find irregularities, patterns, and new fraud trends.
• Carry out detailed investigations into suspected fraud matters and record the outcomes clearly.
• Escalate confirmed or high-risk cases to the appropriate stakeholders without delay.
• Partner with cross-functional teams to strengthen fraud controls and prevention efforts.
• Help improve fraud monitoring systems and control frameworks on an ongoing basis.
• Draft reports and presentations covering fraud trends, investigation results, and key risk indicators.
• Explain findings, recommendations, and insights to managers and other stakeholders in a clear way.
• Make sure work aligns with applicable laws, internal procedures, and fraud risk policies.
• Assist with regulatory submissions and responses connected to fraud matters.
• Support internal audits, external audits, regulatory examinations, and compliance reviews.
• Keep current with relevant regulations, including DFSA/DIFC and AML/CTF requirements, and apply them to fraud risk practices.

Team Collaboration

• Coordinate with IT, Finance, Operations, and other teams to support effective fraud prevention and detection.
• Take part in team discussions to review active cases and exchange insights.
• Deliver awareness sessions and guidance on fraud detection methods and best practices.
• Help build a cooperative environment that continuously improves fraud prevention strategies.

Technical Skills

• Fraud analytics, including predictive modelling and anomaly detection
• Insurance sector understanding, especially life, health, and general insurance, is preferred
• Investigation methods and forensic review techniques
• Fraud risk assessment and control design
• Strong data management and analysis using Excel and Power BI

Soft Skills

• Strong analytical thinking and problem-solving ability
• High integrity and ethical judgment
• Sharp attention to detail
• Stakeholder handling and communication skills
• Ability to make decisions confidently in uncertain situations

Education & Qualifications

A bachelor’s degree in Finance, Risk Management, Computer Science, or a similar discipline is required. Professional certifications such as CFE, CAMS, or ICA (Financial Crime Compliance) will be considered an advantage.

Experience

Applicants should have at least 5 years of experience in fraud detection and fraud risk management. Prior exposure to claims fraud and underwriting fraud is preferred, along with experience using data analytics to support fraud detection.