What Does it Take to Be a Fraud Examiner, Investigator or Analyst?
Occupation Description Obtain evidence, take statements, produce reports, and testify to findings regarding resolution of fraud allegations. May coordinate fraud detection and prevention activities.
Life As a Fraud Examiner, Investigator or Analyst
- Analyze financial data to detect irregularities in areas such as billing trends, financial relationships, and regulatory compliance procedures.
- Conduct field surveillance to gather case-related information.
- Lead, or participate in, fraud investigation teams.
- Arrest individuals to be charged with fraud.
- Negotiate with responsible parties to arrange for recovery of losses due to fraud.
- Recommend actions in fraud cases.
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What Every Fraud Examiner, Investigator or Analyst Should Know
Fraud Examiners, Investigators and Analysts state the following job skills are important in their day-to-day work.
Writing: Communicating effectively in writing as appropriate for the needs of the audience.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Active Learning: Understanding the implications of new information for both current and future problem-solving and decision-making.
Other Fraud Examiner, Investigator or Analyst Job Titles
- Fraud Examiner
- Fraud Prevention Specialist
- Fraud Analyst
- Investigator
- Special Investigation Unit Investigator
Are There Job Opportunities for Fraud Examiners, Investigators and Analysts?
In 2016, there was an estimated number of 135,900 jobs in the United States for Fraud Examiner, Investigator or Analyst. New jobs are being produced at a rate of 9.6% which is above the national average. The Bureau of Labor Statistics predicts 13,100 new jobs for Fraud Examiner, Investigator or Analyst by 2026. There will be an estimated 13,100 positions for Fraud Examiner, Investigator or Analyst per year.
The states with the most job growth for Fraud Examiner, Investigator or Analyst are Utah, Nevada, and Arizona. Watch out if you plan on working in South Dakota, Maryland, or Alaska. These states have the worst job growth for this type of profession.
Do Fraud Examiners, Investigators and Analysts Make A Lot Of Money?
The average yearly salary of a Fraud Examiner, Investigator or Analyst ranges between $38,030 and $123,360.
Fraud Examiners, Investigators and Analysts who work in District of Columbia, Virginia, or Illinois, make the highest salaries.
How much do Fraud Examiners, Investigators and Analysts make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
| Alabama | $75,170 |
| Alaska | $68,040 |
| Arizona | $82,200 |
| Arkansas | $43,580 |
| California | $80,720 |
| Colorado | $83,800 |
| Connecticut | $77,690 |
| Delaware | $80,950 |
| District of Columbia | $107,760 |
| Florida | $67,520 |
| Georgia | $85,610 |
| Idaho | $56,440 |
| Illinois | $93,200 |
| Indiana | $66,590 |
| Iowa | $69,480 |
| Kansas | $55,300 |
| Kentucky | $57,030 |
| Louisiana | $61,170 |
| Maine | $65,430 |
| Maryland | $77,440 |
| Massachusetts | $88,370 |
| Michigan | $69,480 |
| Minnesota | $74,190 |
| Mississippi | $63,650 |
| Missouri | $74,050 |
| Montana | $67,820 |
| Nebraska | $79,250 |
| Nevada | $58,150 |
| New Hampshire | $77,670 |
| New Jersey | $81,660 |
| New Mexico | $61,940 |
| New York | $96,480 |
| North Carolina | $76,050 |
| North Dakota | $77,400 |
| Ohio | $78,960 |
| Oklahoma | $72,520 |
| Oregon | $71,980 |
| Pennsylvania | $74,880 |
| Rhode Island | $77,610 |
| South Carolina | $69,340 |
| South Dakota | $53,080 |
| Tennessee | $65,200 |
| Texas | $70,830 |
| Utah | $69,340 |
| Vermont | $72,600 |
| Virginia | $87,810 |
| Washington | $73,790 |
| West Virginia | $68,180 |
| Wisconsin | $60,120 |
| Wyoming | $59,190 |
What Tools do Fraud Examiners, Investigators and Analysts Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Fraud Examiners, Investigators and Analysts:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- Data entry software
- Microsoft Visio
- Microsoft SharePoint
- Structured query language SQL
- SAS
- Microsoft SQL Server
- R
- LexisNexis
- Tableau
- SAP Business Objects
- Symantec
- Splunk Enterprise
- Bookkeeping software
- Electronic health record EHR software
How do I Become a Fraud Examiner, Investigator or Analyst?
Are there Fraud Examiners, Investigators and Analysts education requirements?
What work experience do I need to become a Fraud Examiner, Investigator or Analyst?
Where do Fraud Examiners, Investigators and Analysts Work?
Fraud Examiners, Investigators and Analysts work in the following industries:
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
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