What is a Fraud Examiner, Investigator or Analyst?
Fraud Examiner, Investigator or Analyst Definition Obtain evidence, take statements, produce reports, and testify to findings regarding resolution of fraud allegations. May coordinate fraud detection and prevention activities.
What Do Fraud Examiners, Investigators and Analysts Do On a Daily Basis?
- Train others in fraud detection and prevention techniques.
- Analyze financial data to detect irregularities in areas such as billing trends, financial relationships, and regulatory compliance procedures.
- Recommend actions in fraud cases.
- Lead, or participate in, fraud investigation teams.
- Gather financial documents related to investigations.
- Testify in court regarding investigation findings.
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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.
Types of Fraud Examiner, Investigator or Analyst Jobs
- Fraud Prevention Analyst
- Fraud Investigator
- Inspector General
- Investigations Chief
- Fraud Prevention Specialist
Job Opportunities for Fraud Examiners, Investigators and Analysts
In the United States, there were 135,900 jobs for Fraud Examiner, Investigator or Analyst in 2016. 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.
How Much Does a Fraud Examiner, Investigator or Analyst Make?
The typical yearly salary for Fraud Examiners, Investigators and Analysts is somewhere between $38,030 and $123,360.
Fraud Examiners, Investigators and Analysts who work in District of Columbia, Virginia, or Illinois, make the highest salaries.
Below is a list of the median annual salaries for Fraud Examiners, Investigators and Analysts in different U.S. states.
| 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 |
Tools & Technologies Used by Fraud Examiners, Investigators and Analysts
Below is a list of the types of tools and technologies that Fraud Examiners, Investigators and Analysts may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Microsoft Access
- Data entry software
- Microsoft SharePoint
- Microsoft Visio
- 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 to Become a Fraud Examiner, Investigator or Analyst
What education or degrees do I need to become a Fraud Examiner, Investigator or Analyst?
How many years of work experience do I need?
Where Fraud Examiners, Investigators and Analysts Are Employed
The table below shows some of the most common industries where those employed in this career field work.
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
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