How to Write a Fraud Analyst Resume: The Ultimate Guide
This article has all the tips you need to write the best possible resume and cover letter and get that job in fraud analysis!
Fraud is becoming an increasingly sophisticated and costly problem for organizations across all sectors of society. The FBI estimates that financial crimes cost the United States anywhere between $100 billion and $400 billion each year, with losses in healthcare fraud topping $65 billion. And it can be tough to spot a fraudster feeding off your organization’s resources. Luckily, there are ways to protect yourself. One of the most effective ways to prevent fraud is by recruiting qualified people for this difficult job.
Here are some tips on how to write a resume that will distinguish you from the other applicants.
What is a Fraud Analyst?
A Fraud Analyst is someone who analyzes information to identify patterns that indicate potential or actual fraudulent activity. Fraud analysts are vital in businesses where fraud is becoming an increasingly large problem, like the healthcare industry.
Pick the Ideal Format for your Fraud Analyst Resume
There are three basic formats you can use for your resume: chronological, functional, and combination.
A chronological resume lists your work experience in reverse-chronological order, starting with the most recent position and working back to the first job you had. This format is best if you have minimal work experience or if you’ve had a series of short term positions. A functional resume focuses on skills that are relevant to the job for which you’re applying. You can group these skills into categories based on how they might be applicable to the job. For instance, if you’re applying for an accounting position, you might group your skills into categories like financial management and budgeting skills, communication skills, and so on. A combination resume features both chronological and functional sections. This type of resume is usually best when someone has a wide range of relevant experience in different fields or when someone wants to draw attention to certain parts of his or her career history.
Highlight your Good Parts in Resume Summary or Resume Objective
It’s important to highlight your most relevant experience in your resume summary or objective. If you have experience with fraud analysis, then your summary should say so. If you don’t have any related experience, then it’s still important that you include some relevant skills in order to demonstrate that you are qualified for the job.
Write the Best Fraud Analyst Job Description for a Resume
The first step to writing a resume is to write the best fraud analyst job description. A lot of resumes for this position will be similar, but your job description is what distinguishes you from the others.
Here are some tips on how to make the best fraud analyst job description for a resume:
- Mention why you want to work in this industry and how it fits with your qualifications
- Highlight any previous experience working in fraud prevention or detection
- Describe what you’d like people to know about you and any special skills that set you apart
- Include your contact information and ask for an interview
Education Section for Fraud Analyst
The education section of your resume is where you can highlight what sets you apart from other applicants. The more credentials you have, the better.
Education is an important part of a fraud analyst's resume—especially if it pertains to computer science or accounting. A degree in these fields will set you up for success with any aspect of fraud detection, prevention, and investigation.
Write a Skills Section
For an analyst position, you’ll need to include a skills section. This is the ideal place to put your analytical skills, like problem solving and data research.
Include a Cover Letter for your Fraud Analyst Resume
A cover letter is an opportunity to tell the hiring manager who you are and why you want the job. This should include an overview of your qualifications, including work experience, education, and other background information that will help you stand out.
Tips for Job Interviews
Knowing how to answer questions during an interview will help you get the job. Here are some questions that you might be asked.
1) What does fraud mean?
Fraud is when someone takes money or other property from another person, entity, or business without permission or consent, usually by deception or dishonor.
2) What are the different types of fraud?
The three major types of fraud are financial statement fraud, customer account misrepresentation, and vendor payment diversion.
3) How do you prevent fraud at your organization?
There are many ways to prevent fraud at an organization. The most common way is through background checks for new hires. Background checks can uncover any criminal history that would make a candidate unfit to handle sensitive company information. Another way that organizations can prevent fraud is through company policies and procedures around spending money and accepting payments. These rules help keep employees accountable to the company’s standards of behavior and help avoid any mistakes in transactions. Lastly, organizations can also buy software programs which monitor their finances for discrepancies in account balances or payments made without authorization.
- List your education and skills first. Your education and skills should be listed first on the resume, as they are the most important qualifications you have to offer. You can list your highest degree first or list your degrees in descending order of importance, as schools attended and related subjects may be more relevant than GPA scores.
- Provide examples of your work history and responsibilities with previous companies. Be sure to include achievements such as cost savings, increased revenues, revenue growth, new projects, etc., during this section of the resume.
- Include a brief summary at the end of how your skills will benefit your potential employer’s organization or company needs if employed there. For example: “I am a qualified candidate for this position because I possess key skills required for success in the role including but not limited to X, Y, Z”