Profession financial fraud examiner

Financial fraud examiners undertake anti-fraud investigations including financial statement irregularities, securities fraud and market abuse detection. They manage fraud risk assessments and prepare forensic reports including the analysis and verification of evidence. Financial fraud examiners liaise with regulatory bodies.

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Personality Type

• Conventional / Enterprising

Knowledge

• Fraud detection

  The techniques used to identify fraudulous activities.

• Banking activities

  The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.

• Financial statements

  The set of financial records disclosing the financial position of a company at the end of a set period or of the accounting year. The financial statements consisting of five parts which are the statement of financial position, the statement of comprehensive income, the statement of changes in equity (SOCE), the statement of cash flows and notes.

• Forensic intelligence

  The procedures and methodology of gathering and analysing forensic intelligence and data for investigative purposes.

Skills

• Detect financial crime

  Examine, investigate, and notice possible financial crimes such as money laundering or tax evasion observable in financial reports and accounts of companies.

• Interpret financial statements

  Read, understand, and interpret the key lines and indicators in financial statements. Extract the most important information from financial statements depending on the needs and integrate this information in the development of the department's plans.

• Manage corporate bank accounts

  Have an overview of the bank accounts of the company, their different purposes, and manage them accordingly while keeping an eye on their balance, interest rates, and charges.

• Identify accounting errors

  Trace accounts, revise the accuracy of the records, and determine the faults in order to solve them.

• Trace financial transactions

  Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.

• Conduct financial audits

  Evaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governability.

• Interpret law

  Interpret the law during the investigation of a case in order to know the correct procedures in handling the case, the specific status of the case and the parties involved, the possible outcomes, and how to present the best arguments for the most favourable outcome.

• Prepare financial auditing reports

  Compile information on audit findings of financial statements and financial management in order to prepare reports, point out improvement possibilities, and confirm governability.

• Liaise with managers

  Liaise with managers of other departments ensuring effective service and communication, i.e. sales, planning, purchasing, trading, distribution and technical.

• Perform forensic accounting

  Perform audits and evaluations of financial information, accounts, financial products, and stewardship of companies. Exert financial investigations with different emphasis such as insurance claims, fraud, and anti-money laundering.

Optional knowledge and skills

Source: Sisyphus ODB