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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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5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 87% of Liberty University students receive some form of financial aid
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  • Financial Aid
  • Transferable Credits
3 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
4 Program(s) Found
  • Separate yourself from the pack by completing one of Saint Leo’s highly-rated Business degree programs. Associates, Bachelors, and Graduate degrees in highly sought-after concentrations available!
  • Learn the necessary skills and build the foundation to propel your business career by receiving an education from our faculty members with true real-world experience.
  • Saint Leo University provides academic excellence, flexibility, affordability, and a wide range of educational programs with financial aid and scholarships available to those who qualify.
  • Saint Leo offers a 14:1 Student-Teacher Ratio to ensure you get the personal attention you deserve.
  • Learn on your schedule with our 6 convenient available start dates throughout the year. Get started on earning your accredited Business degree today!
Good for Working Adults
  • Online Courses
  • Flexible Scheduling
  • Financial Aid
  • Transferable Credits
  • Find Online Schools. 100% Online Accredited Courses
  • Get Matched to Programs In A Few Clicks!
  • Earn an Affordable Degree from Home at your own pace
  • Get College info today. Its Free and Easy!
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