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Fraud Investigation Manager Job Description

Job Descriptions January 2, 2014

Industries such as banking and insurance are some of the most lucrative fields in the world. These businesses have been proven ways to generate revenue for centuries. Unfortunately, fraud is a major issue for the people in these industries and a Fraud investigations manager’s job is never complete.

Insurance fraud

In the insurance industry, the company provides its clients with protection from a litany of disasters such as automobile wrecks, damage to their homes and even the loss of loved ones. Unfortunately, there is a small percentage of people who would seek to file fraudulent claims against the insurance company in order to receive compensation that they don’t deserve. One of the most common types of insurance fraud is worker’s compensation insurance fraud. In these cases, an employee of a company will attempt to receive payment for an injury that isn’t as bad as they claim or is altogether non-existent.

A fraud investigation manager is responsible for overseeing the fraud investigation agency that investigates all claims for the insurance company. These people save the honest Americans millions of dollars in higher premiums by minimizing the payouts given to people attempting to cheat the insurance company.

The fraud investigations manager may not actually investigate individual fraud cases. Instead, they institute the rules and regulations that prevent the company from being defrauded. They also oversee the entire fraud investigations department. A fraud investigation manager is also responsible for recouping any losses due to fraud. This requires the ideal candidate to cooperate with local, state and federal law enforcement agencies.

This position typically requires a candidate to have a bachelor’s degree in finance, business or some related field. A fraud investigation manager must also have a lot of real life experience, up to seven years in some cases. The ideal candidate must be a natural leader and have strong organization skills and the ability to communicate their ideas. Because the individuals have so many responsibilities, their salaries can reach over $100,000 annually. The average fraud investigation manager’s salary is around $96,000 dollars a year and the amount he or she earns can vary greatly based on experience.

Fraud would completely cripple some companies if no one were there to prevent the loss and reclaim lost money. These professionals keep everyone else insurance premiums and bank fees reasonable by preventing dishonest people from stealing. Anyone interested in a career as a fraud investigation manager must have excellent math skills and a desire to help his or her company succeed.

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Everest College , Newport News
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Matching School Ads
1 Program(s) Found
  • Named a Best for Vets school by the Military Times in 2014.
  • Has specialized in student-centered technology, business, criminal justice, health science, and culinary education for over 45 years.
  • Makes it possible for students to earn a bachelor’s degree in 2.5 years or an associate’s in 1.5 years by providing a year-round schedule.
  • Offers externships and clinical experience that help students prepare for life after they graduate.
  • Has 10 campuses across the mid-Atlantic, plus online degree programs.
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
3 Program(s) Found
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  • Online Courses
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  • Transferable Credits
3 Program(s) Found
  • Ranked among top Regional Universities in the South by U.S. News and World Report in 2015.
  • Ranked 37th among the Best Colleges for Veterans by U.S. News and World Report in 2015.
  • Stands as the largest private, nonprofit university in the nation with 100,000+ students.
  • Offers over 230 programs online, from the certificate to the doctoral level.
  • Has a student-faculty ratio of 25:1, and 42.3% of its classes have fewer than 20 students.
Show more [+]
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right IT, Computer Science, Cybersecurity, Software and Application Development, Web Design or Technology Management Degree Program for YOU.
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  • Just Fill Out a Few Questions and You Can Find Your Perfect IT/Computer Science Degree Program Within Minutes.
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